Issue Date 2 August 2021
This Financial Services Guide (“FSG”) is prepared by EML Payment Solutions Limited ABN 30 131 436 532 (“EML”). Under its Australian Financial Services Licence, EML is authorised to provide financial services including arranging for the issue of non-cash payment facilities such as the CardHero Mastercard (“Card”).
This FSG is issued by CardHero Pty Ltd ABN 42 644 909 400 (“CardHero”), "Representative" or "We"), an Authorised representative of EML, Authorised Representative number 1292139. This FSG is an important document, which provides information about the financial services offered by CardHero and is designed to assist you in deciding whether to use the services offered in this FSG.
After reading this FSG, you will know:
The content of this FSG is general information only and does not take into account any person’s particular needs or objectives. EML provides no warranty as to the suitability, for any person, of the services outlined in this FSG.
If you need any more information than is contained in this document, please contact EML or 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.
EML is an Australian Financial Services Licensee, Licence No. 404131. EML arranges for the sale, issue and distribution of the Card.
EML can be contacted via:
Phone: 1300 739 889 between 8:30am to 5.00pm Queensland time.
Mail: Level 12, 333 Ann Street Brisbane QLD 4000
Email: support@emlpayments.com.au
Internet: www.emlpayments.co
CardHero will be acting on behalf of EML at all times when:
EML is responsible for those financial services provided by CardHero as its Authorised Representative. EML has authorised CardHero to distribute this FSG.
CardHero is authorised by EML to arrange for, and to provide general financial product advice in relation to the Card. CardHero is not authorised to give you personal financial product advice in relation to the Card.
You can contact CardHero from anywhere in Australia using the contact details below:
Mail: PO Box 21022, World Square, NSW 2002
Phone: +61 2 8328 0505 between 9am – 5:30pm NSW business days
Email: support@cardhero.co
Website: www.cardhero.co
CardHero is authorised by EML to provide general financial product advice to retail and wholesale clients in relation to deposit and payment products limited to:
The Card is a facility for making non-cash payments (a reloadable prepaid Mastercard product) issued by EML.
This means that CardHero can:
CardHero and its associated companies are not authorised to provide (and EML itself does not provide) personal advice about financial products. Personal advice is advice when your objectives, financial situation or needs have been or would be expected to be considered. This means that CardHero will not take your objectives, financial situation or needs into account whenever it gives general advice (in publishing or issuing promotional material) about the Card.
It is your responsibility to decide whether any general financial advice given by CardHero 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.
CardHero can only provide general advice on basic deposit and non-cash payment products limited to the Card. CardHero 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 EML shall not be responsible where the Representative 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.
Before or at the time you are offered the Card, EML or CardHero will also provide you with, or explain how to access, a Product Disclosure Statement ("PDS") for the Card. 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 Card.
You may provide the Authorised Representative with specific instructions by letter, email or other means (as agreed with the Authorised Representative).
Disclosure of any relevant conflicts of interest
EML and CardHero are not related entities. CardHero does not have any relationships or associations that might influence them in providing you with its services.| Fees and Charges to be paid by the Cardholder (all fees quoted are inclusive of GST) | |
| Fee Description | Fee Amount |
| Foreign exchange fee | 2.99% |
| Disputed transaction fee (per transaction) | $11.00 |
| Card replacement fee | $10.00 |
| Monthly expired card fee (charged each month after Card expiry) | $4.40 |
| Manual funds transfer fee – Card to external account transfer | $27.50 |
The table above represents a summary of the fees payable by the Cardholder to EML in connection with the Card. Further information, including details of other fees, is contained in the PDS for the Card.
EML receives interest income from Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (AFSL 234527) (“ANZ”) (an Authorised Deposit Taking Institution) on the total cardholder funds held in ANZ’s accounts in relation to the Card. This interest income cost is not borne by Cardholders. Employees of EML do not receive, whether directly or indirectly, any fee, commission, benefit or advantage (pecuniary or otherwise) in connection with the financial services provided.
CardHero directors and staff are remunerated by salary that includes superannuation benefits. CardHero staff may also be eligible for an annual bonus payment based on agreed performance levels.
Employees of CardHero do not receive, whether directly or indirectly, any fee, commission, benefit or advantage (pecuniary or otherwise) in connection with the financial services provided.
The Available Balance on your Card is in Australian dollars. Transactions made in a currency other than Australian dollars will be subject to the prevailing Mastercard exchange rate at the time plus a 2.99% foreign exchange fee.
Example of Foreign Exchange Fee:
You make a purchase from a merchant located outside Australia (e.g. USA);
At the time, Mastercard’s prevailing exchange rate is US$1.00 = $0.95 Australian;
You spend US$200.00;
The Australian dollar amount is US$200.00 x $0.95 = $190.00;
The foreign exchange fee is therefore 2.99% x $190.00 = $5.68
EML will seek to ensure that comprehensive and accurate records of all services and products and client dealings are properly maintained.
How can you access EML’s complaints handling arrangements?
EML is a member of the Australian Financial Complaints Authority (“AFCA”). If you have a complaint regarding the provision of financial services to you, you should take the following action:
If after speaking to an Authorised Representative or our Customer Support Staff, your complaint is not resolved within 21 days, please put your complaint in writing and send it to us, addressed to:
The Complaints Officer
EML Payment Solutions Ltd
Level 12, 333 Ann Street
Brisbane QLD 4000
Whilst every endeavour will be made to resolve the matter promptly and impartially, if you are not satisfied with how your complaint is dealt with, you can elect to refer the matter, free of charge, to AFCA. AFCA can be contacted at:
Australian Financial Complaints Authority ABN 67 131 124 448
Mail: GPO Box 3, Melbourne VIC 3001;
Phone: 1800 931 678
Email: info@afca.org.au
Alternatively, other matters can be referred to the industry regulator, the Australian Securities and Investments Commission (ASIC) on free-call 1300 300 630 or visit the website www.asic.gov.au.
EML is required by the Corporations Act to have in place compensation arrangements designed to compensate retail clients for losses they suffer as a result of a breach by EML or its Authorised Representatives of their respective obligations relating to the provision of financial services to you.
EML maintains adequate professional indemnity insurance to cover the financial services provided by it and its Authorised Representatives. The policy maintained by EML provides coverage (in the aggregate) of up to $10,000,000 to cover claims regarding professional indemnity, including misleading and deceptive conduct, intellectual property, defamation and fraud/dishonesty.
Your privacy is important to us and we are committed to compliance with the Privacy Act and the Australian Privacy Principles. We may disclose your personal information to external or related parties who act on our behalf in the operation of our business. Such external parties are required and committed to protecting your privacy. EML and its associates will not otherwise disclose your personal information without your consent, except as authorised or required by privacy laws. Our Privacy Policy sets out how you can access and correct information we hold about you, how you can complain about a breach by us of your privacy rights and how your complaint will be handled. EML’s Privacy Policy is available at https://www.emlpayments.com/privacy and CardHero’s privacy policy is available at https://www.cardhero.co/privacypolicy.php. Please contact us if you have any concerns.
EML has an obligation under the Anti-Money Laundering and Counter-Terrorism Financing Act ("AML/CTF Act") to verify your identity before we can provide you with any financial services. Your Representative will let you know what documentation you will need to present to satisfy the customer identification requirements under the AML/CTF Act.
EML remains up to date on industry compliance issues pursuant to our Australian Financial Services Licence, which requires staff and Authorised Representatives to undergo ongoing training in respect of our responsibilities to you.
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