Hero Wallet

Issued by Hay Limited ABN 34 629 037 403
Australian Financial Services Licence No. 515459
Updated 14 October 2022

1. About

These Terms and Conditions are our agreement with you about the use of your Hero Wallet Card and Hero Wallet Account. If you commence using the Hero Wallet Card you will be deemed to have read, understood, and accept these terms in relation to and Hero Wallet Card and Hero Wallet Account.  It is called acceptance by conduct. It does not require your signature to be binding. 

It is important that you understand these Terms because they set out our agreement on what will happen with things like how we use your information, security, fees and charges and limits.

Please also carefully read the Product Disclosure Statement (PDS) you were provided with when you applied for the Hero Wallet Card and Hero Wallet Account as these Terms form part of the PDS and together form our agreement with you for use of the Hero Wallet Card and Hero Wallet Account. You can find the PDS here.

Please contact the Hero Wallet support team if you don’t understand anything in this document and we can explain things further for you.

Hero Wallet Support Team:

8.30am – 5.30pm AEST, Monday to Friday

• Email: herowallethelp@employmenthero.com
• App: Employment Hero app > Personal > Support > Help > Contact Us
• Website: Hero Wallet FAQ’s

2. Meaning of words

In these Terms, words that have a capital letter have the following meaning:

• Available Wallet Balance means the dollar value (in AUD) that is available in your Hero Wallet Account at a particular point in time which you can view by using the Employment Hero App and which you can utilise by using the Hero Wallet Card.
• Account holder means the person in whose name a virtual Hero Wallet Account is held by Hay. 
• Acceptance Brand means the symbols Visa uses at merchants and ATMs to inform Cardholders their Card can be used to make purchases or cash withdrawals . 
• Business Day means any day other than a Saturday, Sunday or public holiday, national and or in Sydney, NSW, Australia, and the 27th and 31st December each year.
• Cardholders means the person to whom a Hero Wallet Card is issued by Hay.  
• Device means any equipment (electronic or otherwise) or artefact designed to be used to access your account. 
• Employment Hero App means the mobile application Employment Hero has developed to support the hero wallet offer.
• Disable means an action initiated by us or by a Cardholder that results in all transactions on the Hero Wallet Account and Hero Wallet Card being suspended pending investigation and or instructions to Enable. 
• Enable means the releasing of the Disable either at a conclusion of an investigation by us or on instructions of the Cardholder.
• Hay means Hay Limited ABN 34 629 037 403 Australian Financial Services Licence No. 515459 (also referred to as we or us).
• Hero Wallet means the product offered by Employment Hero that contains the Hero Wallet Card and Hero Wallet Account that consumers can open and operate.
• Hero Wallet Account means the digital (virtual) account held by Hay to which the Accountholder can deposit funds and to which the Hero Wallet Card is linked to. 
• Hero Wallet Card means a physical Visa debit card that is issued by Hay, and which is linked to the Hero Wallet Account.
• Issuer means Hay Limited ABN 34 629 037 403 Australian Financial Services Licence No. 515459 as the Issuer of both the Hero Wallet Card and Hero Wallet Account.
• Merchant means authorised vendors who are able to accept and process a Visa Debit Card.
• Passcode means the 6-digit code you nominate to protect access to the Employment Hero app.
• Purchase Transaction means a purchase transaction of goods and or services using the Hero Wallet Card at a Merchant.  
• PIN means personal identification number and the set of digits used to protect access to your Hero Wallet Card which is created by you when signing up to Hero Wallet. 
• Terms and Conditions means the detail and rules that apply to the opening, fulfilment and use the Hero Wallet Card and Hero Wallet Account. They are an essential part of a contract between the Cardholder and Hay Limited as the Card Issuer.
• Pay Anyone means a payment from your Hero Wallet Account to another person’s account with an Australian Financial Institution by using the BSB and account number of the person to whom you are making the payment.
• Unauthorised Transactions means a transaction which you haven’t authorised and without your knowledge and consent. 
• Visa means Visa Worldwide PTE Ltd. 
• Visa Debit means authorised physical or digital cards with the Visa Acceptance Brand or markings. 

3. The Hero Wallet Card and Hero Wallet Account

When you are issued with a Hero Wallet Card you will receive a physical card which is linked to your Hero Wallet Account, and which can be viewed using the Employment Hero App. Once you deposit funds into your Hero Wallet Account, you can access these funds to conduct a Purchase Transaction, Pay Anyone, or a cash withdrawal by using the Hero Wallet Card anywhere in the world where Visa Debit cards are accepted.  

You can view your Available Wallet Balance at any time by using the Employment Hero App.  

The Hero Wallet Account is not a bank account.

You can use the Hero Wallet Card to withdraw cash at ATMs (note there is a daily limit that applies (see clause 7.2). Your Hero Wallet Card is linked to your Hero Wallet Account and can access the Available Wallet Balance in the Hero Wallet Account. You can make Pay Anyone transactions from your Hero Wallet Account via the Employment Hero App.

You can only access the Available Wallet Balance. Hero Wallet does not offer a credit facility and overdrawing the Available Wallet Balance in the Hero Wallet Account is strictly prohibited.  We reserve to decline any transaction request the result of which will exceed the Available Wallet Balance in the Hero Wallet Account.

4. Eligibility

To apply for a Hero Wallet Card and Hero Wallet Account, you must be at least 16 years old and comply with any of our eligibility criteria communicated during the account opening and onboarding process.

5. Anti-Money Laundering and Counter-Terrorist Financing

As an issuer of the Hero Wallet Account and Hero Wallet Card, we must comply with the Anti-money Laundering and Counter-terrorism Financing Act 2006 (Cth) (AML Act) and its related Regulations. There are several obligations under the AML Act which we must comply with including know your customer and certain reporting obligations. Accordingly, as part of the application process we will require evidence of who you are and where you live. As part of our legal obligations, we need to verify this information and accordingly, we check the information you provide against records maintained by credit reporting and fraud prevention agencies/ organisations. However, we don’t perform a credit check on you and the searches we perform are only for verifying your identity.

You must let us know as soon as possible when any of your details change.

We may need to block, delay, disable or refuse transactions or suspend or close your account where we reasonably consider that a transaction is fraudulent or in breach of the AML Act or where we have concerns regarding your money laundering or terrorism financing risk. We must block the Hero Wallet Account and Hero Wallet Card until we verify your identity.  We are not responsible for any loss that arises where this occurs. Where we can, we will let you know why we have stopped the transaction or Disabled the Hero Wallet Account. However, in some cases our legal obligations will stop us from being able to tell you and failing to inform you of the reasons is not a breach by us of these Terms.

6. Activating your Hero Wallet Card

Once we have approved your application for a Hero Wallet Card and Hero Wallet Account, we will post you the Hero Wallet Card. Before you use your Hero Wallet Card for the first time you will need to enable it in the personal section of your Employment Hero App, under Wallet.

7. Using your Hero Wallet Card

07.01 Depositing value to your Hero Wallet Card

At any time you or someone on your behalf can deposit funds to your Hero Wallet Account through the mechanism we specify from time to time. Predominantly, these deposits will occur through transferring funds electronically from another account you or someone on your behalf is holding with another financial institution. You can find instructions for how you can deposit funds to your Hero Wallet Account in the Employment Hero App.

We may also add new ways to deposit funds into your Hero Wallet Account in the future and we will publish these ways in the Employment Hero App.  We encourage you to check the Employment Hero App from time to time for this and other important information.

Payments to your Hero Wallet Account will be credited to your Available Wallet Balance when they have cleared.

Once deposits have cleared and are showing in your Hero Wallet Account as clear funds, you can use the Hero Wallet Card to access these funds by transacting through Merchants, Pay Anyone and or cash withdrawals at businesses that accept Visa.

07.02 Limits

There are default limits that apply to the Hero Wallet Card and Hero Wallet Account for:

• $50,000 Maximum balance you can have in your Hero Wallet Account at any one time
• $25,000 Maximum top up deposits per day
• $500 Maximum ATM cash out per day
• $10,000 Transaction limit for any one transaction (whether at a Merchant or Pay Anyone)
• Available Wallet Balance Total daily transaction limit

At any time, we can adjust the limits to protect your interests or ours and if we decide to adjust the limits, we will inform you of these changes via the Employment Hero App. Unless it is for security or financial integrity reasons, we will inform you of any changes to the daily limits in advance no less than 10 Business Days before the changes take place.

You can find the actual limits that apply to your Hero Wallet Card and Hero Wallet Account within the Employment Hero App.

We will let you know via the Employment Hero App if your limits are adjusted. 

Please check the FAQs section in the Employment Hero App so you know what limits apply to your use of the Hero Wallet Card.

07.03 ATM withdrawals

You can withdraw cash from your Available Wallet Balance using your Hero Wallet Card at any ATM up to the limit that applies for ATM transactions.

There are no Hay fees for using ATMs. However, you may be charged fees by other financial institutions or ATM providers when using some ATMs.

07.04 Card transactions

You can use your Hero Wallet Card to make payments anywhere that Visa Debit cards are accepted.

Within Australia you can make contactless transactions under $100 without using your PIN. Contactless limits may vary in different countries. Like with any transaction, please make sure you check the amount is correct on the terminal before authorising a contactless transaction.

We will deduct the amount of any transaction using your Hero Wallet Card from your Available Wallet Balance. You can’t stop payment on a transaction after it has been completed. For mistaken or disputed payments please refer to clause 10.

We do not allow negative balances in your Hero Wallet Account.  If you do not have sufficient balance in your Hero Wallet Account, all transactions will be denied. It is your obligation to ensure that you have sufficient Available Wallet Balance to complete a transaction.

Sometimes a transaction cannot be processed due to reasons outside of our control, like where there are network issues which may affect the relevant payment terminal. We are not responsible when a transaction authorisation is declined for any reason.

07.05 Account transactions

You can make Pay Anyone payments from your Hero Wallet Account using the Employment Hero App. It is solely your responsibility to ensure that you enter the correct BSB and account information when authorising internet payments from your Hero Wallet Account. Where you enter the wrong information:

• funds may be credited to the account of an unintended recipient if the BSB number and/ or identifier do not belong to the person you name as the recipient; and
• it may not be possible to recover funds from an unintended recipient.

07.06 Using your Hero Wallet Card outside Australia

All transactions in foreign currencies will be converted into Australian dollars.

All foreign currency transactions will be processed using the foreign exchange rate determined by Visa at the time of settlement. We do not charge fees, margins, or spreads for foreign exchange payments.

The actual foreign exchange rate that has been applied will be shown in your Employment Hero App on settlement.

07.07 Restrictions on use

You must not use your Hero Wallet Card and or the Hero Wallet Account for any illegal purpose including purchasing anything that is illegal under Australian law. 

If we suspect that the Hero Wallet Account and or Hero Wallet Card are being used for illegal activity, we will disable the Hero Wallet Account and Hero Wallet Card without notice to you. 

You must not allow any other person to use your Hero Wallet Account or Hero Wallet Card. Doing so is a breach of these Terms and entitles us to Disable your Hero Wallet Account and Hero Wallet Card.  You will also not be able to reclaim any unauthorised transactions because you allowed someone else to use your Hero Wallet Account and Hero Wallet Card. You can only have one Hero Wallet Card at a time.

8. Fees

Current fees and charges that apply to your Hero Wallet Card and Hero Wallet Account can be found here

We will debit your Available Wallet Balance for any fees that are payable to us.

We will let you know at least 30 days before a change takes effect through the Employment Hero App of any fee changes so that you can stop using the Hero Wallet Card if you don’t like our new fees. 

Merchants and financial institutions may also impose fees or surcharges which are separate to the fees and charges we charge as Issuers.  We have no control over these third-party fees and cannot challenge these once a transaction is approved by you.

9. Security

09.01 Protecting your Hero Wallet Card information and PIN

It is important that you keep your Employment Hero App and Hero Wallet Card information, PIN and Passcode secure. This means that you must not write down the PIN or the Passcode either on the Hero Wallet Card or on something you carry with the Hero Wallet Card or share your PIN or Passcode with any other person.  You must not, without proper cause, disclose the card number to any person.

09.02 What to do when you suspect your Hero Wallet Card is compromised or lost

If you believe your Hero Wallet Card is lost (and there’s a chance you’ll find it) or the security of your Hero Wallet Account or Hero Wallet Card has been compromised, you can simply Disable your Hero Wallet Account and Hero Wallet Card on the Employment Hero App. If you Disable the Hero Wallet Card, it will remain Disabled until you Enable it and you will not be able to use it. While the physical card is Disabled you can continue to make payments from your Hero Wallet Account. After you have Disabled your Hero Wallet Card, you will not be able to use your Hero Wallet Card until you Enable it.

If you believe your Hero Wallet Card has been lost, damaged or compromised (not just temporarily lost) then you must immediately report your Hero Wallet Card lost or stolen within the Employment Hero App and request a new Hero Wallet Card.

10. Responsibility for mistaken or Unauthorised Transactions

Where you think a transaction is an Unauthorised Transaction or is otherwise incorrect, please get in touch with us immediately via the Employment Hero App and provide as much information as you can about the relevant transaction so we can investigate further. 

There are specific circumstances and time frames where we can claim a refund in connection with a disputed transaction. This means that our ability to investigate a disputed transaction is limited to the time frames imposed by payment service providers and card schemes (like Visa) that we deal with, so it is important to let us know as soon as possible after you become aware of a disputed transaction.

If you suspect that the security of your Hero Wallet Account and or Hero Wallet Card has been compromised, you may want to Disable your Hero Wallet Account and Hero Wallet Card to avoid continued unauthorised use.

10.01 Mistaken payment

Where you make a mistake when making a payment, you must inform us as soon as you realise that a mistaken payment was made. You must provide us with sufficient details of the transaction, so we can try and trace it. We will try to reverse the transaction and retrieve your funds. However, if we can’t reverse the transaction, we are not responsible, and you will be liable for the mistaken payment.

10.02 Incorrect payments/issues with a purchase

If you have a problem with a purchase made with your Hero Wallet Card or a disputed transaction, the first step is to get in touch with the merchant you made the purchase from. 

If you cannot resolve the matter with the merchant, contact us about the disputed transaction via the Employment Hero App.

11. Lost, stolen Hero Wallet Card or compromised PIN

You will not be responsible for Unauthorised Transactions:

• that occur before your Hero Wallet Card is issued to you;
• that occur after you have Disabled or cancelled your Hero Wallet Card and while it remains Disabled; or 
• where you didn’t contribute to the Unauthorised Transaction.

We may consider that you have contributed to an Unauthorised Transaction where:

• you have not kept your Hero Wallet Card, PIN or Passcode reasonably secured; or
• there was an unreasonable delay in Disabling or cancelling your Hero Wallet Card where you believed it was lost, stolen or otherwise compromised; or
• there was an unreasonable delay in reporting any unauthorised or mistaken payments.

12. Transaction history

You can view your transaction history on the Employment Hero App at any time. We take security very seriously but please regularly check it to make sure there is nothing unusual such as:

• transactions you don’t recognise;
• transactions you didn’t authorise;
• transactions where you never received the relevant goods or services;
• transactions where the purchase price differs to the purchase amount; or
• you think a transaction may have been duplicated.

13. Card cancellation

We may Disable or cancel the Hero Wallet Card where we have concerns about its security and or for the purpose of protecting your Available Wallet Balance where we suspect the Hero Wallet Card has been compromised. 

If we become aware that you haven’t done what you’ve agreed to do as set out in these Terms we may Disable or cancel your Hero Wallet Account. If this happens, we will let you know as soon as possible and refund your Available Wallet Balance to your nominated account.

14. Card expiry

The expiry date is shown on your Hero Wallet Card. We will contact you prior to the expiry to let you know the next steps for continuing to use your Hay products after the expiry date.

15. How to close your Hero Wallet Account

You can close your Hero Wallet Account via the Employment Hero App. We cannot close the Hero Wallet Account immediately as we need to wait for all payments and transactions undertaken by you to be settled before your Hero Wallet Account can be closed. As soon as you notify us that you wish to close the Hero Wallet Account, you will no longer be able to use your Hero Wallet Card. 

You will remain liable for any transactions that were not processed, or that occur, on your Hero Wallet Account (including, but not limited to, outstanding merchant purchases) at the time the Hero Wallet Account is closed.

You must also pay us all unpaid fees and charges prior to closing the Hero Wallet Account.

Once the Hero Wallet Account is closed and we are satisfied that all outstanding transactions have been presented and settled, we will refund you the Available Wallet Balance in your Hero Wallet Account.

16. How we can communicate with each other (notices)

You can contact us via the Employment Hero App or the Employment Hero website. 

We may give you any information, notices or other documents related to the Hero Wallet Card or Hero Wallet Account by:

• notification (including a push notification) or message sent to you or your device through the Employment Hero App; 
• by email to the email address recorded for you in the Employment Hero App; 
• by letter to the address recorded for you in the Employment Hero App.

17. Privacy

We will collect, handle and use your personal information in accordance with our privacy policy available here.

Our privacy policy contains important information about the purposes for which we collect personal information, the entities to which we may disclose the information we collect (including any overseas disclosures that we may make), how you can access and seek correction of the personal information we hold about you or how you can make a complaint about our handling of your personal information.

18. Limits and responsibility

We are responsible for things that occur that are our fault. This includes things like your Available Wallet Balance being incorrectly debited due to our error or our fraud.

We are not responsible for things outside of our control like;

• where a merchant does not accept your Hero Wallet Card; 
• delays or interruptions not caused by us; 
• transactions not being able to be processed, despite us taking reasonable precautions;
• a dispute between you and the supplier of goods or services purchased with the Hero Wallet Card; or

Subject to any provisions in the Australian Consumer Law to the contrary, where we are responsible, to the extent permitted by law and Visa scheme rules, the most we are responsible for is the value of a transaction processed due to our error or, for other things that we may be responsible for, the amount of your Available Wallet Balance. 

Subject to any provisions in the Australian Consumer Law to the contrary, our liability for a breach of such guarantee, warranty or conditions will be limited to:

• supplying the services again; or 
• the payment of the cost of having the services supplied again.

19. Complaints

You can find our complaints process here which sets out what you can do if you have any complaint or dispute relating to your Hero Wallet Card or Hero Wallet Account.

20. Changes to these terms

We can change these Terms and any information in the PDS relating to these Terms at any time by uploading the new Terms or PDS to our website and letting you know about the changes via the Employment Hero App. If you keep using your Hero Wallet Card or Hero Wallet Account after the notice of change is posted and the change becomes effective, you will be bound by the amended Terms. 

When we decide to charge new fees or increase our fees or any other changes are made which are not in your favour, we will give you at least 30 days’ notice before the change to enable you sufficient time to decide whether you wish to continue to use your Hero Wallet Card or Hero Wallet Account.

21. Governing law

The laws of New South Wales will govern the Hero Wallet Card, and any legal questions concerning this agreement.