Swag Spend Account FSG
Financial Services Guide 16 February 2023
Issued by Hay Limited ABN 34 629 037 403
Australian Financial Services Licence No. 515459
Hay® is a registered trade mark
Shaype is the trading name for Hay as a Service Pty ltd
Approved 16 February 2023
1: About this Guide
This Financial Services Guide (“FSG”) is prepared by Hay Limited ABN 34 629 037 403 Australian Financial Services Licence No. 515459 (Hay). Under its Australian Financial Services Licence, Hay is authorised to provide financial services including issuing non-cash payment facilities such as the Swag Visa Debit card and Swag Spend account.
This FSG is issued by Employment Hero, an authorised representative of Hay (representative number 001234046), to market, promote and distribute the Hay Limited non-cash payment product. This FSG is an important document, which provides information about the financial services offered by Hay and is designed to assist you in deciding whether to use the services offered in this FSG.
Hay is the issuer of the Swag Visa Debit card, BSB and Swag Spend account whereby users make payments wherever Visa Debit cards are accepted. The Swag Visa Debit Card is linked to a digital account (which is not a bank account). The cardholder is given details of the digital account which will enable them to deposit funds into that account. Once cleared, these funds can be accessed by the customer by using the Employment Hero App and or the issued Visa card locally and or overseas.
Under the Corporations Act 2001 (Cth) as an Australian Financial Services Licence holder, Hay is required to hold client monies with an approved Authorised Deposit- Taking Institution (ADI) in a separate, designated account.
It is important for you to know that Hay is not a bank and our non-cash payment product is not protected under the financial claims scheme.
2: Important information
This FSG is designed to assist you make an informed decision about whether to use our financial services. It contains important information about:
- The financial services we provide and documents you may receive from us;
- Fees and other benefits we may receive for providing the financial services to you; and
- How you can make a complaint to us and how we will deal with your complaint.
After reading this FSG, you will know:
- Who we are and how to contact us;
- What financial services can be provided to you and how these services will be provided to you;
- How we (and any other relevant persons) may be remunerated;
- Whether any relevant associations or relationships exist that may influence our general advice;
- How we maintain your personal information; and
- How to access our internal and external complaints handling arrangements.
The content of this FSG is general information only and does not take into account any person’s particular needs or objectives or whether our services are suitable for you.
If you need any more information than is contained in this document, please contact us. You have the right to ask us about our charges, the type of advice we will provide you, and what you can do if you have a complaint about our services.
3: Documents you may receive
You will receive this document at the time we think that we may provide you with a financial service.
You will also be provided with our product disclosure statement (PDS) before you sign up to our product(s). The PDS will provide you with information about the product, it’s features, benefits, risks, costs and other relevant information, available here.
The use of the issued Visa Debit card and digital account are governed by terms and conditions as set out in the PDS which are available here and our Privacy Policy which is available here.
You should read the terms and conditions in the PDS and our Privacy Policy before you decide to obtain our product(s).
4: About the Issuer Hay Limited
Hay is a holder of an Australian Financial Services Licence (AFSL) No 515459. Under its AFSL, Hay is authorised to issue and give general advice only in relation to (but not limited to) non-cash payment products.
The Swag Visa Debit card is a facility for making non-cash payments issued by Hay.
Hay has provided Employment Hero an authorisation to act on its behalf for specific activities, meaning it can can:
- Arrange for the issue of the Swag Visa Debit card and Swag Spend account by Hay to you;
- Provide general product advice in relation to the Swag Visa Debit card and Swag Spend account; and
- Publish or issue certain promotional material in relation to the Swag Visa Debit card and Swag Spend account.
Hay can be contacted via:
Email: support@hellohay.co
Mail: Hay, P.O. Box 772, Surry Hills, NSW 2010
5: About Employment Hero Authority to Represent and General Advice
Employment Hero and its associated companies are not authorised to provide (and Hay itself does not provide) personal advice about financial products.
It is your responsibility to decide whether any general product information given by Employment Hero in its promotional material is suitable for you, or to get personal advice from a financial adviser who holds an Australian Financial Services licence or who is an Authorised Representative of an Australian Financial Services licence and who is authorised to provide personal advice.
Personal advice is advice when your objectives, financial situation or needs have been or would be expected to be considered. This means that Employment Hero will not take your objectives, financial situation or needs into account whenever it gives general advice (in publishing or issuing promotional material) about the Swag Visa Debit card and Swag Spend account.
Employment Hero can only provide general advice on non-cash payment products. Employment Hero cannot advise you on, or influence you in favour of, a financial product that is not a product that we are authorised to provide advice on.
Please be aware that Hay shall not be responsible where Employment Hero provides any services to you, which are outside of their authorisation limits. You should therefore ask the Representative to confirm specifically that the service or product relates to deposit and non-cash payment products, prior to acting on any general advice.
6: A Product Disclosure Statement will be provided to you
Before or at the time you are offered the Swag Visa Debit card and Swag Spend account, Hay or Employment Hero will also provide you with, or explain how to access, a Product Disclosure Statement (PDS) for the Swag Visa Debit card and Swag Spend account. The PDS contains information about the costs, benefits, risks and other features of the recommended financial product. You should read this information to enable you to make an informed decision prior to acquiring the Swag Visa Debit card and Swag Spend account.
7: How you can provide instructions to Employment Hero
You can contact Employment Hero by using the following channels:
- Email: swagspendhelp@employmenthero.com
- App: Money > Support > Help > Contact us
8: What commissions, fees or other benefits are received?
Neither Hay or Employment Hero receive any commissions from any party in relation to issuing the customer with a non-cash payment product. Hay charges fees for providing the services to the customer and Hay’s clients. The fees charged to the cardholder are set out in the PDS.
9: Associations and Relationships
Neither Hay nor Employment Hero have any associations or relationships which could influence the financial services provided.
10: What should you do if you have a complaint?
If you have a complaint relating to the Swag Visa Debit card and Swag Spend account that has been issued to you, please follow the below procedure:
Contact Employment Hero in the first instance via:
- Email: swagspendcomplaints@employmenthero.com
- App: Money > Support > Help > Contact us > Complaints
Please provide a full explanation of your complaint. Employment Hero may request further details from you about the complaint.
Employment Hero will acknowledge that we have received your complaint and seek to resolve the complaint immediately, or by no later than 5 business days after receiving your complaint directly.
Review by Hay Complaints Officer
If you are not happy with the outcome, Employment Hero may request that Hay’s customer complaints officer review your complaint. Hay may need to contact you for more information and we will advise you of the decision.
External Review of Complaints
If you are still not satisfied with the decision or Employment Hero or Hay do not respond to you within 30 days after you make the initial complaint, you can contact Hay’s external dispute resolution provider, Australian Financial Complaints Authority (AFCA). AFCA’s details are:
Australian Financial Complaints Authority
Website: afca.org.au
Email: info@afca.org.au
Freecall: 1800 931 678
Mail: Australian Financial Complaints Authority, GPO, Box 3, Melbourne VIC 3001