Getting Started
How does Zed Vault work?
Zed holds project funds securely until the work is completed and approved, then releases payment to the contractor—less a small fee.
Is it free to sign up?
Yes! All you need to do to sign up is fill out the "Submit a Project" form on our website with no cost or strings attached. Only a small fee is taken from the total project cost when the project is complete.
How do I start a new project using Zed Vault?
Once you've agreed on a price with your customer, just fill out the form on our "Submit a Project" page or give us a call and we can fill it out for you.
What happens after I submit my project?
Once you submit your project, Zed sends your client a project reference number and instructions on how to transfer the funds. Once the funds are received into Zed's secure account, the contractor receives a deposit for the cost of materials, completes the works and the funds are transferred out to you, minus Zed's fee.
Payments & Fees
When does the contractor get paid?
The contractor gets paid a standard 5% deposit at the start of the job (or up to 50% if the client agrees), then once the client and contractor agree on job completion (or 24hrs post completion, whichever comes first), the remainder of the funds are transferred to the contractor within a further 24hrs - minus Zed's small fee.
How long does it take to receive payment?
Funds will be released within 48 hours of job completion, but bank processing times may vary slightly.
How much is Zed's fee?
Zed charges a small percentage of the total project cost for Zed Vault services, deducted before funds are released to the contractor. The fee varies depending on project cost, as outlined below: - $50 - $50,000: Zed fee of 3% - $50,000 - $500,000: Zed fee of 2.5% - $500,000+: Zed fee of 2%.
Are there any hidden fees?
Nope—Zed is completely transparent. Zed only takes its small fee when a job is completed, and the fee is clearly shown upfront.
Trust, Security & Disputes
Is my money safe with Zed?
Yes. All funds are safely held in Zed's secure trust account with a project reference number attached so every dollar is allocated to the correct project. The funds are then only released when the work is complete. Zed is a registered and monitored company, so all transactions are transparent and accounted for.
What happens if there’s a dispute?
The client has 24hrs to disagree with job completion if they wish, and if they do so, the funds will be frozen and you will be directed to sort the disagreement out between yourselves. If an agreement cannot be made, the matter will be referred to mediation and then to arbitration if the issue persists and funds will be released as directed by the court/mediator.
What happens if the contractor disappears or doesn’t complete the job?
Funds remain safely held until both sides are satisfied. If a contractor fails to deliver, clients can request a refund (less Zed's transaction fee) or a mediation through Zed.
Using Zed Vault
Do I have to use Zed for every stage of the project?
No - you can use Zed Vault for full projects or only parts of it if you wish. It's completely up to you.
Can I use Zed for small projects?
Absolutely. Zed works just as well for quick tasks as it does for large-scale projects.
Who approves the completed work?
The client does. Once a project is completed, the client can approve its completion. If the client doesn't dispute the completion within 24 hours of contractor notification of the project being completed, it will default to an approval and Zed will transfer the funds within another 24 hours.
Can I edit a project after it’s been created?
If there are changes to the overall cost of the project, the contractor simply needs to let us know and we will reach out to the client again for any additional funds if needed. Any variation requests have a Zed fee of 5% attached.
General Info & Support
Can I cancel a project once it’s started?
Yes—but both parties must agree. Zed can help mediate and issue refunds if needed.
Is Zed available outside of Australia?
Zed is proudly Australian owned and operated. For now, we’re focused on supporting Australian clients and contractors.
How do I contact support?
You can reach our friendly support team 24/7 via email at enquiries@zedfinancegroup.com, phone on 03 5656 1408, or through our contact form on our website for help with your project or account.
