What is Spendi? Spendi is a gamified fintech app that turns your everyday spending into entries for the chance to win your spend back. Without changing the way you shop or pay for things, you can securely link your eligible bank accounts through our accredited data recipient partner, Yodlee, under the Consumer Data Right (CDR) framework. Once connected, your everyday spending earns entries into Spendi draws.

Is Spendi an Australian Company? Yes. 100% Australian owed and operated.

I’m having issues onboarding, what can I do? To successfully onboard, you must: 

• Create an account
• Verify either your email address or mobile number with a OTP
• Create your profile with basic contact information
• Securely link your bank accounts through Open Banking
• Verify the bank accounts belong to you
• Nominate an account for us to pay your winnings into
• Select your membership

If you’re having issues onboarding, please download a copy of our onboarding guide here.

If you’re still experiencing issues, please contact us at contact@spendi.com.au.

How long has Spendi been established? Officially founded on 21st September 2023 and after years in development Spendi officially launched on 16th December 2024.

How do I win prizes? By securely linking your bank accounts and just by shopping and spending like you normally would all your transactions are automatically entered into Spendi’s draws.

Spendi’s Daily Draw goes off every night at 8.00pm AEST where multiple people are randomly selected to win back up to double the value of their transaction(s). Spendi’s Major Draw goes off every Sunday at 8.30pm where multiple winners could win a major cash prize.

Winners are notified in the app and by email and your winnings are transferred to your nominated winnings account the next business day.

How long does it take to get my funds? Spendi process winning payments the following business day and it should arrive in your bank account within 48 hours, in some cases, such as public holidays this may take longer.

How are the winners selected? Spendi has developed a propietry generator that randomly selects winners for all draws. Each transaction has the relevant number of entries that is assigned to it and each of those entries has an equal number of chances.

What are the chances of winning? With the chances of winning changing frequently, as of 3rd January 2025 Spendi has paid out more individual prizes than Premium users on the app. At average prize value of $49.66, with 49% of Spendi’s Premium users winning at least one prize and 15% winning more than once.

How long does it take for my transactions to appear in the app? Spendi automatically updates pending transactions throughout the day and a transaction should first appear in the app as ‘Pending’ within 15-30 minutes of making it.

Most banks will typically hold a transaction as ‘Pending’ for 24-48 business hours, in some cases longer. Spendi checks with your bank for updated ‘Posted’ transactions once per day and your transaction should appear as ‘Posted’ in the app within 24 business hours.

In the event that you have purchased from a partner as instructed on how to shop with that partner in the app, this transaction will remain in a ‘Pending’ status until such time as it has gone through any necessary returns period and the partner has notified Spendi that the transaction has cleared.

Once Spendi recieves a posted transaction, we will issue it with the appropirate amount of entries and the transaction will be entered into the next draw(s). You’ll recieve a notification confirming this.

What is Open Banking or Consumer Data Right (CDR)? Open Banking is part of Australia’s Consumer Data Right (CDR) framework. It allows you to securely share your banking data with accredited data recipients, but only with your explicit consent. It is completely optional and gives you full control — you decide what information is shared, who it is shared with, and when to stop sharing.

How Spendi participates in the CDR Spendi operates as a CDR Representative of Yodlee, which is an Accredited Data Recipient (ADR) under the CDR Rules. This means:

• Yodlee is the accredited party authorised to request and collect your CDR data.

• Spendi receives service data from Yodlee so we can provide features within the Spendi app.

How secure is my data with Spendi?  We know security is a top priority — and it should be. Spendi uses the security protections built into Australia’s Consumer Data Right (CDR) framework, including strong encryption and strict consent requirements.

Here’s how your data is protected:

• Secure transfers: Data shared through the CDR is encrypted using industry-standard security protocols.

• No passwords stored: Spendi does not see or store your banking login details.

• Accredited partner: Data sharing occurs through Yodlee, an Accredited Data Recipient (ADR) under the CDR. Spendi receives service data from Yodlee as a CDR Representative.

• Your control: You choose what information is shared, and you can revoke your sharing consent at any time under the CDR framework.

Join Spendi today and start turning everyday spending up to 300% cashback rewards, prizes, and savings—all while keeping your data safe, secure, and in your control.