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Product Disclosure Statement

Technocash BillFold Facilities

8 March 2006

Issuer:

Technocash Pty Ltd (ABN: 20 080 109 217)

  • Phone: +612-9687-1900
  • Fax: +612-9687-1911
  • Address: Level 5 ANZ Building, 20 Smith St, Parramatta, Australia, 2150 PO Box 618, Parramatta, Australia, 2124
  • Email: info@technocash.com
  • Website: www.technocash.com
  • Licence: Australian Financial Services Licence No: 247299

Benefits of holding a Technocash BillFold product:

Technocash offers a number of products each with various features and benefits. The key benefits are as follows:

Feature versus Card Type Technocash

Blue BillFold Card 		Global

Green BillFold Card 		Global FX

Global FX palm trees - BillFold Card 		Organization

Yellow Organization BillFold Card 		Wire2U

Cyan Wire2U BillFold Card
Entitled to CashBack purchases from participating merchants+ Yes Yes Yes Yes Yes
Free card to card transfers Yes Yes Yes Yes Yes
Load money at Australia Post Yes Yes Yes Yes Yes
Load funds by internet banking Yes Yes Yes Yes Yes
Make payments cheaply in other countries No Yes Yes Yes Limited
Hold multiple currencies to avoid foreign exchange risk No Yes Yes Yes No
Membership system with customizable fields No No No Yes No
Money received can be banked out conveniently Yes Yes Yes Yes Limited
Great storage of payee information Yes Yes Yes Yes Yes
Our extended transaction history provides great record keeping Yes Yes Yes Yes Yes
Purchase discount mobile phone recharges when logged into your card Yes Yes Yes Yes No
Retail facilities available to all merchants - see family friendly policy No No No Yes No
Invoice and payment collection facility at Australia Post No No No Yes Yes
Wire Transfer Instruction to Technocash No No Yes Yes Yes
Mass card to card transfer system No No No Yes No
Can send US Check payments within USA No Yes Yes Yes No
Send SMS messages from your card login to hundreds of countries Yes Yes Yes Yes Yes
Deposit Card System No No No Yes No
CashBack Retail Functions No No No Optional No
Physical Card Delivered to your address Yes Yes Yes Yes No
Unlimited transaction capacity for fully verified accounts Yes Yes Yes Yes Yes

+CashBack Customers please refer to the CashBack Customer PDS.


The benefits of the card facilities are available when you access the login using your Password and Card number. Temporary access details may be emailed to you. You must accept the card Terms and Conditions by entering your own new password three times. After this the card is yours to use along with all the features mentioned above and their benefits, provided any purchase price has been paid. Our website contains more information on the features and benefits of Technocash products, including our full Terms and Conditions for all card types.


Risks:

Risks associated with the TECHNOCASH stored value system are summarised on the Security and Risks page of our website via the Securities and Risks link.

Risks arise when using any internet facilities. The key safeguards are shown prior to logging in to your BillFold card. If you are on the web you would click the Login link.

Key risks are as follows:
  • Only trust TECHNOCASH websites for your transactions and login. You can check whether the site you are using is an authentic TECHNOCASH site by verifying our SSL digital certificate from your browser.
  • Your password allows access to the funds on your card and other features and functions. Never give anyone your password, your optional spend password, or (for corporate cards) any other passwords. Choose your password carefully, do not record it electronically or otherwise, do not have obvious items like name, pets name, phone number or birth date as part or all of your password.
  • Your login details may be sent to you via email or as part of an introduction kit delivered by post. You must log in to your facility and change the initial password, otherwise you risk your password becoming known to others.
  • It is always risky to use an internet login facility on any computer provided by another, for example at public internet kiosks.
  • It is your responsibility to ensure that any passwords you use are sufficiently complex or unique so that others cannot guess them. We have long password fields and you can and should change passwords and add separate passwords for various facilities.
  • As we have various currencies available you must be careful to not only specify the correct amount for any transaction but also to ensure you select the correct currency.
  • If your BillFold account activity reaches certain transaction value thresholds in a given time period, it may be necessary for Technocash to confirm your identity and other personal details. Your account may be subject to periodic transaction limits if your identity has not been fully verified.
  • TECHNOCASH systems are based on irrevocable payments. When sending funds you have a confirmation stage during the transaction process and you are responsible for your completed transactions. This is also considered a benefit for the person being paid.
  • If you fail to enter information into your card's 'My Account' section it can be hard to identify you for customer service requirements.
  • Organisations can set up payee information, which is confirmed during the payment process, and use these details to make irrevocable payments. It is important that you check and confirm that the payee information is correct. It is unlikely that incorrectly sent payments will be recovered and attempts to recover them may involve significant costs.
  • TECHNOCASH Vouchers are non-refundable so customers should treat them with the same care and respect as they would cash. A backup copy of the Voucher details could help but should be treated with the same amount of care.
  • Customers should be extremely careful with TECHNOCASH Voucher codes and expiry information as knowledge of this information might allow others to access the funds available.
  • Knowledge of the codes and expiry information of a TECHNOCASH Voucher which has been spent or partly spent should be kept for 90 days in case the merchant involved needs to provide a refund.
  • TECHNOCASH provides confirmation of exchange rates it uses and you are provided confirmation prior to finalising your transaction. It is important that you check this information.
  • When making payments involving bank accounts please leave enough time for inter-bank clearance and credit card deposit cycles.
  • When completing wire transfer payee details in the "My Account" section of your BillFold, you must ensure that all fields marked compulsory are completed, including the payee's name and full valid address. If all compulsory fields are not completed and correct, the banking system may be unable to effect the transfer and additional charges and delays may be incurred.

 

Social and Ethical Considerations:

Our Retail Terms and Conditions (if you are on the web click here..) state: 'Technocash reserves the right to decline to allow the Retail BillFold to use the Technocash Payment System to sell goods and services if Technocash, in its sole discretion, determines that the whole or substantial whole of the Retail BillFold's business is for the sale or licence or membership fees of products that require the customer to be of a required age such as alcohol, cigarettes, gambling, or adult products and sites.'

Technocash allows its customers to work with prepaid funds and does not promote credit. These features make TECHNOCASH online transactions suitable for all ages.

Sales Force:

Agents and distributors and authorised representatives are trained and authorised to sell Technocash products, and earn commissions for specific card activities. If you are thinking of joining our Sales Force, details of commissions and other similar payments are by application only. Please ring Technocash or use the contact page on our website. More information is available from our website. If you are on the website Click Here..

If you are a customer and wish to check whether a person is authorised you can check our website. If you are on the website Click Here..



Cost of Products:

Technocash sells cards and stored value Vouchers. Some cards allow multiple currencies to be used. There is an initial cost to buy a card and some cards have monthly fees. Other fees and charges relating to transactions are charged and often depend on the type of card held. If you are on the web please click on the Fees and Charges link.

Technocash fees are primarily transaction based. This means as you do money moving transaction activity the fees will be debited automatically according to your account type. This means you need to have sufficient funds in your account to complete the transaction.

Technocash generally has the confirmation procedure during transactions which shows any fees charged.

Technocash also sells products such as mobile phone recharges: please login to your card to see the price, range, and quantity of available products.

Our fees and charges are subject to change. Your card will receive a message about any changes to fees and charges 30 days before they come into effect. This same personal messaging system will also be able to inform you of other changes, such as to your card's features, functions, and terms and conditions.


Terms and conditions

The following are the significant Terms and Conditions that apply to you as a Technocash customer. You can also explore the legal section on our website to view our full Terms and Conditions.

All monies received for deposit to Technocash BillFolds or Vouchers other than customer initiated transactions are non-refundable and will be held in a bank account ("accounts") by Technocash subject to a mortgage over the accounts held on trust for each customer ("Technocash Customer Trust") by the Technocash Trustee, pursuant to a Security Trust Deed between the Security Trustee and Technocash dated 19 November 2003 and registered with ASIC with allotted charge number 997227 on the 25th November 2003, Security Trust Deed, for the protection of each customer. Monies in the accounts will only be withdrawn as follows:

  1. in accordance with these Terms and Conditions; or
  2. for the payment of fees (including bank fees) and charges which Technocash incurs in respect of the Accounts.

Any person may apply for a Technocash BillFold, subject to any restricted categories as defined per the Technocash Anti-Money Laundering and Counter-Terrorism Financing Program, and the requirement of applicants to satisfy any relevant customer identification and verification procedure both prior to a BillFold Account being activated and subsequently.

A BillFold card can be purchased directly from Technocash, from an authorized salesperson, or from another BillFold card login when funds permit and subject to completion of any relevant customer identification and verification procedure. Where a new BillFold is purchased via an existing BillFold card's login, the new BillFold card's login information can be sent to the intended owner by the purchaser. The intended owner should change the password, after which transfer of ownership to them is completed. Prior to this ownership change the original purchaser can still access the login information from within their BillFold. Once a card is paid for Technocash will send the physical card to the address involved in the purchase.

When approved by Technocash, each applicant will be issued with a BillFold Identification Number. Your BillFold Identification Number will not change except in exceptional circumstances and then only with the express agreement of Technocash.

Minimum identification requirements apply to all BillFold accounts - please refer to the full transaction reporting and money laundering prevention terms and conditions in the legal section of the website.

Technocash does not represent or guarantee that access to your BillFold or the Technocash service will be uninterrupted. You acknowledge that access to your BillFold or the Technocash service may be affected by outages, faults and delays however caused. If a malfunction or error in the operation of an Account is identified, the Account holder should contact Technocash via the online feedback form available at Technocash's website/s or using the contact details in the "Contact Us" section of Technocash's website/s

There are two types of BillFold Currency setting - Home Currency or Multicurrency. A Home Currency-only BillFold operates in the nominated Home Currency of a BillFold. A Multi-currency BillFold can hold all currencies available to the TECHNOCASH system.

Technocash may at any time add to, remove, change, vary, or impose conditions upon the functions of all or any BillFolds in any respect without limitation to the fullest extent permitted by law.

BillFold card holders agree to pay the applicable fees and charges. All fees and charges shall be debited from your BillFold card, whether in Home Currency or Multicurrency, subject to any applicable fees and charges for the debiting of the outstanding amount, unless otherwise agreed.

Each BillFold has an expiry date. A Billfold card can be extended upon payment of the appropriate monthly fee where applicable. Monies in a BillFold that has expired and has had no login activity for 365 days or unclaimed monies in a Suspended Monies Billfold Account for 365 days become the sole property of Technocash and are not to be covered under the Technocash Customer Trust.

Technocash aims to maintain your transaction records indefinitely, however Technocash is only required to maintain transaction details in a BillFold for a period of 2 calendar years (or part thereof).

Each individual TECHNOCASH Voucher has a specific expiry date. If a Voucher reaches its expiry date any remaining monetary value becomes the sole property of Technocash.

All BillFold payments and transfers are irrevocable and the sole responsibility of the BillFold holder.

Use of a BillFold constitutes an express acknowledgement of the intellectual property ownership of Technocash in respect of the Technocash Payment system, BillFold, and trademarks.

To the fullest extent permitted by law Technocash is not liable for any loss or damage arising from the operation of your BillFold.

BillFold holders' login process and any ongoing use of their BillFold constitutes an agreement to abide by the BillFold Terms and Conditions with Technocash as amended and posted on the website from time to time. Amendments may be for all or only specified BillFold types.



CashBack Terms and Conditions

Customers can only receive CashBack where they use their Card for purchases at a merchant participating in their CashBack program powered by TECHNOCASH. CashBack generally applies to all goods and services offered by participating merchants unless the participating merchant specifies that CashBack does not apply.

CashBack Transactions are subject to review and modification by the participating CashBack merchant. Notwithstanding any prior email or SMS to the customer, the merchant's review and modification of sale value is generally final and binding on the customer.

Approved CashBack Transactions result in a cash refund to the customer's CashBack Card for a percentage of the purchase price. The refund is generally a minimum 10% of the purchase price. This percentage or amount may vary from retailer to retailer. CashBack will be available not less than 2 business days after the CashBack Transaction is processed.

For SMS notification of CashBack Transaction processing sent to a customer’s mobile phone Technocash accepts no responsibility for the failure of any SMS to arrive where: such failure is due to any telecommunications provider failing to process the relevant SMS; the SMS is delayed due to congestion; or for other reasons. Technocash further accepts no responsibility for the failure of any notification email to be sent or received.

Information contained in any SMS or email notification received by the customer in relation to a CashBack Transaction should not be solely relied upon as an indication of the actual or pending value of any CashBack due to the customer. The only accurate indication of actual or pending CashBack funds is the information provided to the customer inside their CashBack Card login. Customers should regularly log in to their CashBack Card to check the actual values of available and pending CashBack funds for their particular CashBack Cards.

Where you have received CashBack from a purchase and later seek a refund from the retailer, you agree that you are only entitled to the purchase price less the CashBack amount already received, and should assist the retailer by not attempting to obtain a full refund. Where you have received CashBack from a purchase and later obtain a refund for the full purchase price, Technocash may reverse the CashBack received by you for that CashBack Transaction from available or future CashBack funds received by you in order to credit the funds back to the retailer.

Customers are only entitled to receive CashBack once per CashBack Transaction. Technocash reserves the right to reverse CashBack funds that are pending or have been credited to a customer’s CashBack Card where it is determined that the CashBack Transaction was compromised by operator error. If a customer fraudulently obtains CashBack more than once on any one CashBack Transaction Technocash can reverse any funds as appropriate, cancel the customer’s CashBack Card, and pursue legal remedies for recovery of funds. Technocash retains at all times the right to reverse payments and pursue legal remedies where a customer is the recipient of fraudulent funds.

Card Renewal
Each CashBack Card has a renewal date of up to 3 years from the date of issue. If your Card has been issued in conjunction with your social club, union or organisation, the renewal date is determined by them. Contact Technocash to renew your Card. You cannot receive CashBack to a Card that has not been renewed, however you can still access existing funds and services. Monies in a CashBack Card that has not been renewed and has had no login activity for 365 days become the sole property of Technocash and are not to be covered under the Technocash Customer Trust.



Dispute Resolution System

Handling complaints and resolving disputes quickly and fairly is very important to us and our customers. Technocash has an internal complaints handling and dispute resolution system and is also a member of the Financial Ombudsman Service (FOS), our independent and impartial ASIC-approved External Dispute Resolution Scheme.

If you are an owner of a Technocash product and have a complaint, you should contact Technocash via any of the following methods:

  • Feedback Form on our website
  • Email us at feedback@technocash.com
  • Fax us on +61 2 9687 1911
  • Ring us on +61 2 9687 1900

    • Our system has strict target timeframes for the resolution of disputes. If you feel your complaint has not been satisfactorily handled or resolved following our internal process you can contact the FOS, whose contact details are as follows:

    Address: GPO Box 3, Melbourne, VIC, 3001
    Phone: 1300 78 08 08 (Mon to Fri 9am-5pm AEST)
    Fax: (03) 9613 6399
    Email: info@fos.org.au
    Web: www.fos.org.au

    We have a dispute resolution policy and you can contact us via phone, fax or email for a copy or more information. If you are on the internet, we are also able to provide you with our dispute resolution policy in PDF form Click here.. We also have a dedicated webpage for your feedback Click here..


    PDS Changes

    This PDS is up to date as of the date of its preparation as indicated in the header of the document. This PDS may be updated without the need to notify you if the updated information is not materially adverse to you. Any updated information may be obtained at any time from Technocash Pty Ltd for no charge.
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