Tyro Accounting Privacy Terms

Tyro Accounting – Privacy Collection Notice

This notice is provided by Team Thrive Pty Ltd (trading as Thriday) and Tyro Payments Limited (Tyro) and relates to the bank feeds and connected accounts feature available in the Thriday and Tyro financial management experience. This notice is provided to help you understand what information we collect, why we collect it, who we share it with, and how to contact us about privacy.

When you connect your bank accounts, Mastercard operates the Open Banking consent and collection process as an Accredited Data Recipient under the Consumer Data Right regime and will obtain your consent to collect, use and disclose your banking data for the bank feeds feature. Under this option, Mastercard discloses the data to both Thriday and Tyro as recipients named in the consent arrangement.

Once Thriday and Tyro receive the data from Mastercard, the way Thriday and Tyro handle that data is governed by the Privacy Act 1988 (Cth) and the Australian Privacy Principles, rather than the Consumer Data Right privacy safeguards.

Depending on what you authorise in the Open Banking consent flow, Thriday and Tyro collect information such as business profile and contact details, account information (including account name, type and balance), and transaction information. This information may include personal information.

Thriday and Tyro collect, hold and use this information to provide bank feeds and associated accounting and financial management functionality, including importing transactions, displaying account activity, categorising and reconciling transactions, producing reports, supporting bookkeeping workflows, and supporting tax administration and compliance workflows.

Thriday and Tyro may share bank feeds information within the Tyro group where this is necessary to operate, maintain, support, secure, and improve the bank feeds feature and the associated financial management experience. Access is limited to authorised people and systems on a need to know basis and subject to confidentiality, security and audit controls.

In addition to providing bank feeds, Thriday and Tyro may use and analyse this information for related business and operational purposes, including improving and developing products and services, analytics and quality assurance, customer support, security and fraud prevention, risk management, and compliance activities. We may also use derived insights from this information to develop and offer products and services that are relevant to business customers, where permitted by law and in accordance with applicable marketing rules. Where required by law, we will provide appropriate choices, including opt out options, before using the information for direct marketing.

Thriday and Tyro use service providers to help deliver the bank feeds feature, including cloud hosting, operational support, and specialised data processing services. Thriday and Tyro may also disclose limited transaction descriptor information to an enrichment service provider to assist with merchant identification and transaction categorisation for the bank feeds feature. We take reasonable steps to minimise what is disclosed to service providers and to ensure they only use information to provide services to us. If you do not provide the requested information or you withdraw your Open Banking consent, we may not be able to provide bank feeds and may not be able to provide some related financial management or accounting functionality that depends on connected account data.

You can withdraw your Open Banking consent through the Mastercard consent management dashboard that is made available from within the product experience. Withdrawal stops ongoing collection and disclosure through Open Banking going forward However, we may retain information already received where required or permitted for legal, regulatory, or business need to keep the data, as described in the privacy policies linked on this page.

For more information about how Thriday and Tyro handle personal information, including how to access or correct personal information and how to make a privacy complaint, please refer to the privacy policies and notices linked on this page.