Combined Financial Services Guide and Product Disclosure Statement
Non-Cash Payment Facility
| Version | Date | Changes |
| 1.0 | 01/05/2024 | First version of the FSG and PDS for the non-cash payment facility. |
| PBA Financial Leasing Pty Ltd | ABN 13 662 384 652 | AFSL 549895 |
Part 1: Financial Services Guide
This Financial Services Guide (FSG) is designed to help you decide whether to use the services we offer in relation to the non-cash payment facility (the facility). It contains information about:
• who we are and how we can be contacted;
• the services and products we are authorised to provide;
• how we are paid for the services and products we provide;
• any potential conflicts of interest we may have;
• our internal and external dispute resolution procedures and how you can access them;
• how we handle your personal information and how you can access it.
This FSG is only one part of the combined document. The other part is the Product Disclosure Statement (PDS), which contains important information about the features, benefits, risks, fees, and charges of the facility. You should read both parts of this document carefully before deciding whether to use the facility.
If you have any questions or need more information, please contact us on:
Name: PBA Financial Licensing Pty Ltd
Address: 6/33 Tallebudgera Creek Road, West Burleigh, QLD 4219 Phone: 1300 641 310
Email: compliance@payadvantage.com.au
Website: www.payadvantage.com.au
Who we are and what we do
We are PBA Financial Licensing Pty Ltd (PBA) (ABN 13 662 384 652), a licensed provider of financial services in Australia. Our Australian Financial Services Licence (AFSL) number is 549895. We have appointed our related company Pay Advantage Pty Ltd ACN: 129 828 119 as a Corporate Authorised Representative No: 001309789 (Pay Advantage).
We are authorised to provide general financial product advice and to deal in the following financial products:
| Authorised to: | Product |
| Provide general financial product advice | Non-cash payment products |
| Deal in a financial product by issuing, applying for, acquiring, varying or disposing | Non-cash payment products |
| Deal in a financial product by applying for, acquiring, varying or disposing on behalf of another person | Non-cash payment products |
We act on our own behalf when we provide these services and products to you.
The advice we give you is general and does not consider your personal situation. Our services may not suit your goals, finances or needs. You should think about whether our services are right for you before you follow our advice.
Non-cash payment facility
The facility is a non-cash payment facility that allows you to make payments without using cash. You can use the facility to pay for goods and services, transfer money, or access your funds through various channels, such as:
• debit cards;
• online banking;
• mobile banking;
• phone banking;
• BPAY;
• direct debit;
• Credit cards;
• OSKO
• PayTo
The facility is linked to your merchant account with us. You can access the facility by using your account number and a personal identification number (PIN), password, or other security device.
The facility is subject to the terms and conditions of your merchant account and the PDS, which forms part 2 of this document. The PDS contains more detailed information about the features, benefits, risks, fees, and charges of the facility. You should read the PDS carefully before using the facility.
How we are paid
We do not charge you any fees for providing general financial product advice or for dealing in the financial products we are authorised to provide.
However, we may charge you fees and charges for using the facility, such as:
• account keeping fees;
• transaction fees;
• card replacement fees;
• overseas transaction fees;
• dishonour fees;
• stop payment fees;
• minimum spend fees.
The fees and charges for the facility are set out in the PDS and the Fees and Charges Schedule, which are available on our website or on request.
We may also receive commissions, fees, or other benefits from third parties in relation to the facility, such as:
• interchange fees from card schemes or other financial institutions
• rebates or incentives from BPAY or other payment service providers
We will disclose the amount and nature of any commissions, fees, or other benefits we receive from third parties in relation to the facility in the PDS or on request.
Remuneration of our staff
Most of PBA’s team members receive a fixed salary and do not get paid commissions or fees related to the products or services they sell. However, some sales representatives may earn commissions based on how many and how valuable the transactions they facilitate are, as well as their overall performance. This may give them a reason to favour certain products or services over others. We check and evaluate the payment arrangements of our staff regularly to make sure they are fair and reasonable and do not conflict with our duty to act in your best interests.
Third parties
Sometimes, we may get customers from other people or businesses who refer them to us. We may pay a fee to these referrers for their service. Some of our staff may also receive referral fees as part of their remuneration. If you want to know more about how much and how often we pay these fees, you can ask us before we provide our services to you.
Conflicts of interest
We have arrangements in place to manage any conflicts of interest that may arise in relation to the facility or the services we provide. These include:
• having a conflict of interest policy and procedures;
• maintaining a register of conflicts of interest;
• disclosing any relevant conflicts of interest to you;
• ensuring that our staff are trained and monitored on how to identify and manage conflicts of interest;
• segregating the duties and functions of our staff where appropriate;
• having a complaints handling process.
If we identify a conflict of interest that may affect the services we provide to you, we will inform you of the nature and extent of the conflict and the steps we have taken or will take to manage it. You can also request a copy of our conflict of interest policy and procedures at any time.
Complaints and disputes
We are committed to providing high quality services and products to our clients. However, we understand that sometimes things can go wrong and you may have a complaint or dispute with us. If this happens, we want to hear from you so that we can try to resolve the issue as quickly and fairly as possible.
If you have a complaint or dispute, you can contact us using the details above and tell us what the problem is and how you would like us to fix it. We will acknowledge your complaint or dispute within 24 hours and try to resolve it within 21 days. We will keep you informed of the progress and outcome of your complaint or dispute.
If you are not satisfied with how we handle your complaint or dispute, or if we do not resolve it within 30 days, you can contact the Australian Financial Complaints Authority (AFCA), which is an external dispute resolution scheme that provides free and independent services to consumers and small businesses. AFCA can help you resolve your complaint or dispute with us.
AFCA’s contact details are:
| Phone | Website | ||
| 1800 931 678 | info@afca.org.au | www.afca.org.au | GPO Box 3, Melbourne VIC 3001 |
You can also contact the Australian Securities and Investment Commission (ASIC), which is the regulator of financial services in Australia. ASIC’s has a free Infoline on 1300 300 630 for obtaining information on your rights or making a complaint.
Privacy and personal information
We respect your privacy and are committed to protecting your personal information. We collect, use, disclose, and store your personal information in accordance with the Privacy Act 1988 (Cth) and our privacy policy and procedures.
We collect your personal information for the purposes of:
• providing you with the services and products you request;
• verifying your identity and eligibility for the services and products we offer;
• communicating with you and managing our relationship with you;
• complying with our legal and regulatory obligations;
• conducting market research and improving our services and products;
• preventing and detecting fraud, money laundering, and other crimes;
• dealing with your complaints and disputes;
• any other purposes that you consent to or that we notify you of.
We may disclose your personal information to third parties, such as:
• our related entities, agents, contractors, or service providers;
• card schemes, payment service providers, or other financial institutions;
• credit reporting bodies, debt collectors, or other credit providers;
• government agencies, regulators, or law enforcement bodies;
• auditors, insurers, or legal advisers;
• anyone who you authorise us to disclose your personal information to.
We may also collect your personal information from third parties, such as those listed above, or from publicly available sources, such as electoral rolls, telephone directories, or websites.
We may store your personal information in electronic or paper form, either at our premises or at external storage facilities. We take reasonable steps to protect your personal information from misuse, interference, loss, unauthorised access, modification, or disclosure. We also take reasonable steps to destroy or de-identify your personal information when we no longer need it for any of the purposes for which we collected it.
You have the right to access your personal information that we hold and to request us to correct, update, or delete it if it is inaccurate, incomplete, or out of date. You can also request us to provide you with a copy of our privacy policy and procedures, which contain more information about how we handle your personal information and how you can make a complaint if you think we have breached the Privacy Act or our privacy policy and procedures.
To access, correct, or delete your personal information, or to obtain a copy of our privacy policy and procedures, please contact us using the details above.
If you have a complaint or dispute about our services or products, you can contact us using the details above. We will try to resolve your complaint or dispute fairly and promptly. If you are not satisfied with our response, you can refer your complaint or dispute to the Australian Financial Complaints Authority (AFCA), which is an independent external dispute resolution scheme. AFCA provides fair and impartial financial services complaint resolution that is free to consumers. You can contact AFCA using the details above under section: Complaints and disputes.
Compensation arrangements
PBA has insurance to cover any claims against us or our representatives for the services and products we provide. This insurance meets the requirements of the law.
Part 2: Product Disclosure Statement
This Product Disclosure Statement (PDS) is designed to help you understand the features, benefits, risks, fees, and charges of the non-cash payment facility (the facility) that we offer. It contains information about:
• what the facility is and how it works;
• the benefits and risks of using the facility;
• the fees and charges that apply to the facility;
• how to apply for, activate, and use the facility;
• how to manage your facility, including checking your balance and transaction history, changing your PIN or password, and reporting lost, stolen, or damaged cards or devices;
• how to cancel or close your facility;
• how to make a complaint or dispute about the facility;
• other important information you need to know about the facility.
This PDS is only one part of the combined document. The other part is the Financial Services Guide (FSG), which forms part 1 of this document. The FSG contains information about who we are, what services and products we are authorised to provide, how we are paid, and how we handle complaints, disputes, and privacy issues.
You should read both parts of this document carefully before deciding whether to use the facility.
If you have any questions or need more information, please contact us using the details provided above.
What is the facility and how does it work?
The facility is a non-cash payment facility that allows you to make payments without using cash. You can use the facility to pay for goods and services, transfer money, or access your funds through various channels, such as:
• debit cards;
• online banking;
• mobile banking;
• phone banking;
• BPAY;
• direct debit;
• credit cards;
• OSKO;
• PayTo;
The facility is linked to your transaction account with us. You can access the facility by using your account number and a personal identification number (PIN), password, or other security device.
The facility is subject to the terms and conditions of your transaction account and this PDS. You should read the terms and conditions of your transaction account and this PDS carefully before using the facility.
What are the benefits of using the facility?
The facility offers you a convenient and secure way to make payments without using cash. Some of the benefits of using the facility are:
• you can access your funds anytime, anywhere, through various channels;
• you can pay for goods and services at millions of merchants that accept debit cards, online payments, or BPAY;
• you can transfer money to other accounts within Australia or overseas;
• you can set up recurring payments, such as bills, subscriptions, or donations, using direct debit or BPAY;
• you can monitor your spending and manage your budget by checking your balance and transaction history online, on your mobile, or by phone;
• you can enjoy the protection of our fraud prevention and detection systems and our liability policy for unauthorised transactions.
What are the risks of using the facility?
The facility also involves some risks that you should be aware of and take steps to minimise. Some of the risks of using the facility are you may lose your card, device, PIN, password, or other security device, or they may be stolen, damaged, or compromised, which may result in unauthorised transactions or access to your account;
• you may make a mistake when using the facility, such as entering the wrong amount, account number, or payment details, which may result in incorrect or unintended transactions;
• you may experience delays, errors, or interruptions when using the facility, due to system failures, network outages, or other factors beyond our control, which may affect the availability, accuracy, or timeliness of the facility;
• you may incur fees and charges for using the facility, such as account keeping fees, transaction fees, overseas transaction fees, or dishonour fees, which may reduce your account balance;
• you may be liable for some or all of the losses arising from unauthorised transactions, depending on the circumstances and your compliance with the terms and conditions of your transaction account and this PDS;
• you may be subject to fraud, scams, or identity theft, if you disclose your personal or financial information to third parties, click on suspicious links, or open attachments from unknown sources.
You can reduce these risks by following the security tips and guidelines in this PDS and the terms and conditions of your transaction account.
What are the fees and charges that apply to the facility?
We do not charge you any fees for applying for or activating the facility. However, we may charge you fees and charges for using the facility, such as:
• account keeping fees;
• transaction fees;
• card replacement fees;
• overseas transaction fees;
• dishonour fees;
• stop payment fees;
• cheque book fees.
The fees and charges for the facility are set out in the Fees and Charges Schedule which forms part of this PDS. The Fees and Charges Schedule is available on our website or on
request. We may vary the fees and charges from time to time by giving you notice in accordance with the terms and conditions of your transaction account and this PDS.
You may also incur fees and charges from third parties when using the facility, such as:
• merchant surcharges for accepting debit cards or online payments;
• foreign currency conversion fees or exchange rate margins for overseas transactions;
• fees from other financial institutions for using their ATMs or services;
• fees from BPAY or other payment service providers for using their services.
We are not responsible for any fees and charges imposed by third parties when using the facility. You should check with the third parties before using the facility to find out what fees and charges they may apply.
How to apply for, activate, and use the facility?
To apply for the facility, you must have a transaction account with us and meet the eligibility criteria for the facility. The eligibility criteria may vary depending on the type of facility you apply for, such as debit cards, online banking, or mobile banking. You can find out the eligibility criteria for each type of facility on our website or by contacting us.
To apply for the facility, you can complete an application form online, on your mobile, or by phone, or visit one of our branches. You will need to provide us with some personal and financial information, such as your name, address, date of birth, contact details, and account number. You may also need to provide us with some identification documents, such as your driver’s licence, passport, or Medicare card, to verify your identity and comply with our legal obligations.
We will assess your application and notify you of the outcome within 7 business days. If your application is approved, we will issue you with a card, device, PIN, password, or other security device, depending on the type of facility you applied for. You will need to activate the facility before you can use it. You can activate the facility online, on your mobile, by phone, or at one of our branches, by following the instructions we provide you with.
To use the facility, you will need to use your account number and your PIN, password, or other security device, depending on the type of facility you use.
Terms and conditions for PBA
You can sign up to use PBA, a service that lets you make payments from your account using your mobile phone or other device. To sign up, you need to:
– Read this Product Disclosure Statement (PDS), which explains the features, benefits, risks, and fees of using PBA.
– Read the PBA Terms and Conditions, which set out the rules and obligations for using PBA. You can find them online at https://www.payadvantage.com.au/terms-of-service/
– Complete our online registration form, where you will provide us with some personal and financial information and choose a PIN, password, or other security device for PBA.
By signing up, you agree to follow the PDS and the PBA Terms and Conditions. Please keep a copy of these documents for your records. If you have any questions, you can contact us using the details above.
Fees and Charges Schedule
The below fees represent the maximum fee we will charge and include GST. Merchants who have a negotiated rate may have fees lower than the below schedule.
| Minimum Spend | $550 |
| Direct Debit Setup Fee | $9.90 |
| Direct Debit Per Debit | $4.95 + 4% MSF (if from a credit card) |
| Direct Debit Dishonour Fee | $22.00 |
| Direct Debit Reminder Fee | $1.95 |
| BPAY | $5.50 + 1% MSF |
| Credit Cards | $0.66 + 4% MSF |
| Authorisation Charge | $0.66 |
| PayTo | $5.50 + 1% MSF |
| Refunds | $9.90 |
| Chargebacks | $55.00 |
| BPAY Custom Biller Code | $550 setup + $22 per week |
| High Value Feature Pack | $550 setup + $55 per week |
