Product Disclosure Statement

Retail Account

Technocash Limited (ABN: 20 080 109 217)

• Phone: +612-9687-1900
• Fax: +612-8088-4348
• 105 Pitt St, Sydney, NSW, Australia, 2150
• PO Box 618, Parramatta, NSW, Australia, 2124
• Email: info@technocash.com
• Website: www.technocash.com
• Licence: Australian Financial Services Licence No: 247299

Summary of Services

With a Technocash account you will be able to deposit, hold and use funds in any major currency, convert currencies to make transfers, collect deposits worldwide, make payments by wire transfer internationally, send US checks, make low cost local transfers to Australian and New Zealand banks accounts, pay Australian bills and fund Australian credit cards. Additionally you can send money to many Brazilian or Filipino beneficiaries. Send and receive funds from other Technocash accounts.

Easily collect funds from around the world in all major currencies by wire transfers by using your account references. Receive funds from other Technocash accounts instantly in all major currencies 24/7. Easily collect funds using local deposits methods in Australian and New Zealand such a internet banking, cash over the counter and deposits at the huge number of Australia Post branches using your account references.

Retail Accounts may have dedicated bank account collection arrangements for qualifying account holders. Access to a Technocash invoicing tool for collecting payment from customers. Costed enablement of a "Deposit Reference System" that collates repeated funds collections from large number of customers - like a personalized reusable invoice number with payment history. (For those businesses needing bulk payments to Technocash account or membership tools, should see the Organization Account PDS)

Efficient Retail Collections

Techncoash Retail Accounts use the efficient processing of incoming deposits developed by Technocash to provide payments with high quality referencing for all major currencies. Technocash prides itself on providing full payment references sent through the banking systems so as to collate and reveal to Retail account holders a full historical and searchable record of all payments.

• Full payment records – payment information is available for each currency for all date ranges.
• Easy refund – For clients in Australia, New Zealand you can make refunds easily by just sending funds to the customers local bank.
• Full Payment History - long term record keeping is an advantage for dealing with customers.

Instant Business Payments

In a fast global business world, you can’t wait days and days for payments to be processed. You need instant payments now – so the goods can be shipped, service provided, or so investment funds arrive.

Usual payment methods such as cheques, wire transfers and drafts are just not good enough. Only with a Technocash Business Account can you make INSTANT, secure payments to other Technocash Business Accounts.

No longer do you have to wait for the bank to be open. No longer do you have to worry about bank hours, banks closing on the weekends, bank and public holidays. You can make instant business payments 24/7 – to other Technocash Accounts anywhere in the world. Benefit from the full reference information provided by instant Technocash Business Account payments. So you and your payee know what the instant transfer was for.

• What you send is what arrives – Your Instant Business Account payments arrive in the currency and amount you specify.
• Payees stored for you – Payee information is configured for you. You can easily pay other Technocash Account holders instantly.
• We have a sophisticated system connecting you with identified Technocash Business Accounts for high-speed commerce.
• Flexibility of holding major currencies and currency handling options provide real time international activity - enabling trading efficiency and speed.
• Benefit by connecting to networks of other Technocash Business Accounts.
• The Technocash system is truly international.
• Business Accounts are great for international transactions but are also excellent for local transactions since real time, cleared funds payments are a must for any company to operate efficiently and productively.

Better than Wire Transfers

Wire transfers have been useful, but not for the 21st century. You deserve better.

• Funds Arrive - No more doubt about what funds arrive, or about what funds to send.
• Statements - No more need to order statements to prove payment details.
• Payee details - If you invoice someone on the other side of the world, Technocash Account holders are easily found and payee details used.
• Save time - Less of your valuable time spent dealing with traditional 'your bank talks to their bank' international payments enquiries.
• Meets your needs - An online system that is evolving its facilities to meet your needs.
• Competitive transaction fees with significant savings compared to wire transfers.

Real Time Trading and Payments

Real Time Trading and Payments are now here. No bank cut-off times or bank holidays for business transactions. Technocash transaction network operates 24 hours a day, 7 days a week. Avoid problems with holidays in different countries, which slow down trading activity. No time zone issues at all.

• You have 24 hour a day access to your Business Account through our Thawte SSL secured Internet system.
• Small or Large Payments – Log in and operate all your transactions from a few cents/pence to $100's of $millions.
• All or most astute members of a trading group can now work together inside one financial platform.
• Your business branches can also have Business Accounts - for instantaneous payments between branches and head office.
• Our centralised multi-currency facility is a great complement to any business network.
• Suitable for a wide range of businesses: auction settlements; service and maintenance industry; importers, exporters and freight forwarders; commodities and commodity traders; local government and councils, and more.

All Major Currencies Available

In the global economy, payments are made in many different currencies. You gain access to all these currencies – all through your one Technocash Business Account. Your Business Account is truly multi-currency. You can receive and hold and convert many currencies including USD, EUR, GBP, HKD, YEN, AUD, CAD, etc.

You don’t have to pay separate monthly fees for each currency – saving you thousands of dollars!

• All major currencies are supported, so our Business Account networks suit all businesses - no matter what country you are in.
• Handle Multiple Currencies – One account handles all supported currencies such as EURO, GBP, USD, CAD, HKD, AUD, NZD, YEN... Receive payments from all sources, in a number of major currencies, all in the one account.
• Deposits stay in the same currency - Ability to receive and make payments in currency of you choice to anywhere in the world.
• Payments stay in the same currency - This provides significant benefits – including the fact that payments stay in the same currency and aren’t automatically converted to your usual home currency.

Currency Conversion Facility

Using our currency conversion facility you gain significant benefits which include:

• Login to Access to Currency Conversion Facility; - with your Technocash account you no longer dependent on when your bank is open.
• Cash Flow certainty; - with Techncoash you can select when you want to convert to the currency you require.
• Protection from adverse exchange rate movements; - once you have the amount in the currency you require, you are protected from any further currency movements.
• Accurate transaction reports; - available at all times in your Technocash account, including the conversion rate used.

Wire Payments

In the event the business or individual you are paying does not have a Technocash Business Account, you still can pay them by wire transfer directly from your Technocash Business Account. Encouraging more businesses to join the Technocash Business Account network will, however, allow instantaneous transactions – avoiding delays inherent with traditional wire transfers and the banking system.

Cleared Funds

• All payments are in cleared funds – payment delays no longer get in the way of your trading activity.

Identified Recipients

• All Technocash Accounts are ID identified.
• Technocash Account instant identified payments are sent to identified account destinations.
• Company and signatory identification is completed for your own peace of mind because then you know the name of who the money is being sent to and to satisfy requirements for compliance with government regulations.
• The fact that an account holder is identified does'nt means that Technocash warrants or vouches for them or their activities. Always confirm the Technocash account number directly with your intended payee before making a transfer.

Record-Keeping

Full reporting is available at any time through your Technocash Account.

You receive email notification, and optional SMS and fax notification, of all payments to or from your account.

• See all transactions – You can confirm payments directly yourself, and review all past payments.
• Keep Informed – Notices are sent with each transaction to inform all parties.
• Transaction reporting for all currencies and date ranges lets you buy or ship goods with confidence.
• Full transaction history and reporting.
• A complete invoice and payment tracking system that allows you to track all payments.

Licensing

You can use our system with confidence. Your TECHNOCASH facility is provided by an Australian Financial Services licensed company dedicated to improving your business payment systems.

The benefits of the Technocash Account facilities are available when you access your login using your Password and Account number. Temporary access details may be emailed to you. You must accept the 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, including our full Terms and Conditions.

Key Risks:

Risks associated with the TECHNOCASH business type accounts can be found 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 Business Account on the full login page.

Key risks are as follows:

• 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.
• 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.
• When instructing Technocash to do a currency conversion you may suffer losses if the rates move against you or if you subsequently do the reverse transaction. Any currency conversion should be considered speculative and thus you should seek prior independent advice and consider if it is appropriate in terms of your experience, financial objectives, needs and circumstances.
• When making Technocash account to Technocash account payments, even though Technocash Business accounts have provided identification, it is your responsibility to ensure that you are using the correct Technocash Account Number by indepenantly checking with your intended payee. This comes about for many reasons including that Technocash accounts may have similar names.
• Payments may be sent by you with wrong payee information due to typographical errors, incomplete details or wrong information provided so to avoid the risks of the first payment having troubles, we suggest you always send a small test payment. If the test payment is verified, then risk is reduced so further payments would be generally in order.
• You 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 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 bank account deposit delays.
• When you transfer funds out of your Technocash account by any method, you are solely responsible for who you send the money to and Technocash is not responsible for the use of the funds by the recipient.
• When funds arrive with an incomplete or incorrect reference there is the possibility that those funds may not be correctly credited so it is very important that the correct reference is provided.
• When completing wire transfer payee details or other payee details in the "My Account" section of your account, 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.
• If you fail to enter information into your account's 'My Account' section it may be more difficult for us to provide customer service.
• Due to Anti-Money Laundering and Counter-Terrorism Financing legislation it may be necessary for Technocash to confirm your identity and other personal details. As an exmple your Technocash Busineess account may have resrictions if your company or its signatories have not been sufficiently identified.
• 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 in your account and other features and functions. Never give anyone your password, your optional spend password, or 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 sms. You must log in to your account and change the password sent in the email or sms otherwise you may risk your password becoming known to others.
• It is always risky to use an Internet login facility on any computer provided by another person, for example at public Internet kiosks or shared office computer.
• It is your responsibility to ensure that any passwords you use are sufficiently complex or unique so that others cannot guess them. We provide you the ability to use long passwords and you can and should change passwords and add separate passwords for various facilities.

• Possible delays in being able to ship your goods or deliver your services as payments arrive without identification as to client or invoice number.
• Difficulty if you collect similar amounts from many customers or receive cash deposits without unique identifiers like Technocash provided 'Deposit References' or your invoice numbers.
• Customers may send funds or a bank may convert currencies so payments arrive in the wrong currency and you may need to convert it to the desired currency in order to complete the payment.
• If you or a customers nominate a bank account or credit card on a Direct Debit Authority to Technocash please note that: direct debiting may not be available on some accounts; additional charges may be applied by financial institutions involved for direct debits; and you should confirm your account details by checking a recent statement from your financial institution. If you are in doubt about any of these items please check with the bank or financial institution before contacting Technocash.
• In the case of fraud or unauthorised transactions relating to funds sent to your account , you have a responsibility and agree to notify relevant law enforcement authorities and pursue the matter direct with your customers. Technocash will cooperate fully with any enquiries or investigations by relevant parties as per Technocash Privacy Policy.

Social and Ethical Considerations:

Our Terms and Conditions (if you are on the web click here..) allows Technocash the right to decline Businesses to sell goods and services if Technocash, in its sole discretion, determines that the whole or substantial whole of the business activity 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 the majority of business.

Sales Force:

Authorised representatives are trained and authorised to sell Technocash products, and earn commissions for specific account 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 and Services:

As you use a particular feature or confirm a transaction, we try to provide notice of the relevant fees and charges.(Fee changes in this PDS will apply for exisiting customers from 23 April 2010..)

The fees and charges below are in AUD, NZD, USD, EUR, GBP, or other home currency, depending on your location, unless otherwise stated. Most fees and charges apply in the currency of the transaction.

Technocash may also sell products from time to time which would be available to purchase with funds in you account when you login to your account. Login to view the current range, and quantity of available products and pricing.

Our fees and charges are subject to change. Exisiting account holders will receive notification to their notification email about any changes to fees and charges 30 days before they come into effect.

Each Technocash account has a private messaging service to send short messages between accounts. This is useful for contacting other account holders and assisting transaction activity.

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:

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

All BillFold applicants will need to at least provide a login password.

The fact that Techncoash provides you with an account does not constititue any endoresment by Techcnoash of your business and you should not make any representation that Technocash endorses your business or products or services. If required you agree to add a disclosure statment to your website/s or application forms or other media as requested by Technocash.

A BillFold account can be purchased directly from Technocash or from an authorized salesperson or another BillFold account login. You can purchase an aditional BillFold account from within your BillFold when funds permit.The new account will still need to compliance verification for the ultimate owner. A 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 and compliance verification commenced. Prior to this ownership change the original purchaser can still access the login information as they are still the owner.

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.

A BillFold account has a nominated Home Currency selected by Technocash from one of the currencies of USD, EUR, GBP, AUD, NZD and is usually based on the country the business is registered in.

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 account holders agree to pay the applicable fees and charges. All fees and charges shall be debited from your BillFold account. Account application fees may be paid by credit card or funds transfer to Technocash directly.

Each BillFold account has an expiry date. A Billfold account can be extended upon payment of the appropriate one off fee. 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).

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 your 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.

Anti-Money Laundering and Counter-Terrorism Financing terms and conditions

Technocash is subject to AML/CTF Laws. In making an application pursuant to this PDS you consent to us disclosing in connection with AML/CTF Laws any of your Personal Information (as defined in the Privacy Act 1988 (Cth)) we have.

In certain circumstances we may be obliged to freeze or block an account where it is used in connection with Illegal Activities or suspected Illegal Activities. Freezing or blocking can arise as a result of the account monitoring that is required by AML/CTF Laws. If this occurs, we are not liable to you for any consequences or losses whatsoever and you agree to indemnify us if we are found liable to a third party in connection with the freezing or blocking of your account.

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 8088 4348
- 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:

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.