Bundll: What is it and how does it work?

Bundll is a unique BNPL platform that you can use almost everywhere, for spending up to $1,000. Bundll was introduced by the financial services company Flexigroup to enable Australians to delay their payments for everyday spends. The service allows customers to purchase everyday items using their bundll Mastercard, whether online or in-store, and repay the amount in two weeks without paying any interest. 

To use bundll, simply download the app and create an account. You can only use the service if you are 18 years old or older. You’ll also require an Australian driver’s license or passport for identification and a valid debit or credit card issued in Australia for making your repayments. 

Once your account is activated, you can add the bundll digital card to your phone and start shopping. Before you make your first purchase, you’ll be prompted to set a repay day – which is the day of the week that your bundll payments will be due. 

To make things easier, all the purchases made on your digital card throughout the week are bundled into a single repayment, which is payable on your repay day. A new bundll is created for your purchases every week, and you get 14 days to pay off a bundll.

If you are unable to pay off a bundll within 14 days, you can ‘snooze’ payments for another two weeks. However, you’ll need to pay a flat fee of $2.50 unless you have a free snooze that you collected by referring your friends to bundll. You must also make a repayment of $20 per snooze, which isn’t a fee but reduces your bundll balance by $20.

If you need longer than two weeks to repay your bundlls, you may consider upgrading your existing account to a superbundll account. Once approved, you can combine any closed bundlls into a superbundll (up to your approved credit limit) and spread your repayments over six fortnights. However, ‘superbundlling’ isn’t free. You pay a fee equal to five per cent of each bundll you move to your superbundll account. 

Bundll doesn’t charge any interest or monthly fees to users who repay on time. However, if you are late for a repayment and don’t snooze it, there’s likely to be a $10 late fee for missing a repayment, payable after a 24-hour grace period.

No, using bundll isn’t likely to directly improve or hurt your credit score. According to bundll’s website, the BNPL provider doesn’t run a credit check, which means no credit enquiry will pop up on your credit file when you open a bundll account. However, bundll will run a credit check if you wish to upgrade to a superbundll account.

It’s worth noting that even though BNPL services may not hurt your credit score directly, your score can be affected if you link your BNPL account to your credit card and forget to pay off your credit card bill on time. Additionally, BNPL providers like bundll may not carry out a credit check, but they reserve the right to report missed payments to third parties like the major credit bureaus, which could adversely impact your credit score. 

Even though bundll offers you a convenient way to delay paying for your everyday spending by up to 14 days, it’s important not to over-rely on credit as it normalises debt, which could encourage impulse buying unless you are financially disciplined.

Bundll also makes it easy for you to snooze your payments for another two weeks beyond the initial repayment period. However, each snooze costs you $2.50. You also pay five per cent of the total amount you roll over to a superbundll to spread your repayments further. Therefore, using the service isn’t free if you cannot repay your bundlls in time. 

In the end, as with any other form of credit, it’s up to you to use the service responsibly to manage your finances and avoid falling into a debt trap.

If you are already struggling with debt, using bundll or any other BNPL service to meet your everyday expenses may not be a practical solution in the long run. Instead, you may consider reassessing your budget, or even calling the National Debt Helpline, to find a long-term solution for getting your finances back on track.