Issue Date 5 February 2024

 

 

Purpose and Contents of this Financial Services Guide

This Financial Services Guide (FSG) is prepared by Fly Wallet Pty Ltd ABN 89 639 905 490 (Fly Wallet”). Under its Australian Financial Services Licence 527319. Fly Wallet is authorised to provide financial services including arranging for the issue of non-cash payment facilities such as the Bybit Card (Card).

 

This FSG is issued by Winway International Pty Ltd ABN 47627612293 trading as Bybit Card (Winway, "Representative" or "We"), an Authorised representative of Fly Wallet, Authorised Representative number001307703. This FSG is an important document , which provides information about the financial services offered by Winway and is designed to assist you in deciding whether to use the services offered in this FSG.

 

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 persons particular needs or objectives. Fly Wallet 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 Fly Wallet 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.

 

 

 

About Fly Wallet

Fly Wallet is an Australian Financial Services Licensee, Licence No. 527319. Fly Wallet arranges for the sale, issue and distribution of the Card.

 

Fly Wallet can be contacted via:

Mail:  PO BOX 3188 BANKSTOWN SQUARE NSW 2200

Email:  contactus@flywallet.com.au

Internet: https://flynamics.io/bybitcard

 

Winway will be acting on behalf of Fly Wallet at all times when Winway arranges for the sale of and provides general financial product advice in relation to the Card and Winway promotes the Card.

 

Fly Wallet is responsible for those financial services provided by Winway, as its Authorised Representative. Fly Wallet has authorised Winway to distribute this FSG.

 

 

 

 

Authorised Representatives

Winway is authorised by Fly Wallet to arrange for and to provide general financial product advice in relation to the Card. Winway is not authorised to give you tailored personal financial product advice in relation to the Card.

 

Mail:                'Governor Phillip Tower' Level 36, 1 Farrer Place, SYDNEY NSW 2000

Email:               support@bybit.com

Website:           https://www.bybit.com/en/help-center

 

 

 

What kinds of financial products and services can Winway provide?

Winway is authorised by Fly Wallet to provide general financial product advice to retail and wholesale clients in relation to deposit and payment products limited to non-cash payment products.

 

The Card is a facility for making non-cash payments (a reloadable prepaid Mastercard product) issued by Fly Wallet.

 

This means that Winway can:

• Arrange for the issue of the Card by Fly Wallet to you;

• Provide general financial advice in relation to the Card; and

• Publish or issue certain promotional material in relation to the Card.

 

Winway and its associated companies are not authorised to provide (and Fly Wallet 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 Winway 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 Winway 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.

 

Winway can only provide general advice on basic deposit and non-cash payment products limited to the Card. Winway 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 Fly Wallet is  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.

 

 

A Product Disclosure Statement will be provided to you

Before or at the time you are offered the Card, Fly Wallet or Winway 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.

 

 

 

Can I provide Winway with instructions?

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

Fly Wallet and Winway are not related entities. Winway does not have any relationships or associations that might influence them in providing you with its services.

 

 

 

 

How are Fly Wallet paid for providing their financial services?

 

Fees and Charges to be paid by the Cardholder
Card Issuing Fees
Card Issue Fee	$5
Replacement Card Fee	$5
Account Keeping Fees
Foreign exchange fee	1% of the total amount of each transaction
Disputed transaction fee (per transaction) This fee may be charged by Fly Wallet in the event Fly Wallet is unsuccessful in disputing a transaction and Fly Wallet finds that the dispute is lodged fraudulently, or the dispute is otherwise found to not be legitimate.	$27.50
ATM Withdrawal Fee for amounts exceeding 150 USD / month	2%

 

 

The table above represents a summary of the fees payable by the Cardholder to Fly Wallet in connection with the Card. Further information, including details of other fees, is contained in the PDS for the Card.

 

Fly Wallet 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 Fly Wallet do not receive, whether directly or indirectly, any fee, commission, benefit or advantage (pecuniary or otherwise) in connection with the financial services provided.

 

Winway directors and staff are remunerated by salary that includes superannuation benefits. Winway staff may also be eligible for an annual bonus payment based on agreed performance levels. Employees of Winway do not receive, whether directly or indirectly, any fee, commission, monies benefit or other advantage in connection with the financial services provided.

 

The Spendable Balance on your Card is in US Dollars. Transactions made in a currency other than US Dollars will be subject to the prevailing Mastercard exchange rate at the time plus a 1% foreign exchange fee.

 

Example of Foreign Exchange Fee:

You make a purchase in Euros;

At the time, Mastercard’s prevailing exchange rate is EUR 1.00 = $1.09 USD;

You spend EUR 200.00;

The US Dollar amount is EUR 200.00 x 1.09 = USD $218.00;

The foreign exchange fee is therefore 1% x $218.00 = USD $2.18

 

 

 

 

Fly Wallet’s record keeping obligations

Fly Wallet will seek to ensure that comprehensive and accurate records of all services, products and client dealings are properly maintained.

 

 

 

 

How can you access Fly Wallets complaints handling arrangements?

Fly Wallet 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:

 speak to an Authorised Representative about your concerns and/or , or

Contact Fly Wallet during business hours and ask to speak to our Customer Support Staff.

 

 

If after speaking to an Authorised Representative or our Customer Support Staff, your complaint is not resolved within 30 business days, you may  put your complaint in writing and send it to us, addressed to:

The Complaints Officer

Fly Wallet Pty Ltd

PO BOX 3188 Bankstown Square NSW 2200

 

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.

 

 

 

Professional Indemnity Insurance

Fly Wallet 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 Fly Wallet or its Authorised Representatives of their respective obligations relating to the provision of financial services to you.

 

Fly Wallet maintains adequate professional indemnity insurance to cover the financial services provided by it and its Authorised Representatives. The policy maintained by Fly Wallet provides coverage to cover claims regarding professional indemnity, including misleading and deceptive conduct, intellectual property, defamation and fraud/dishonesty.

 

 

 

 

Privacy

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. Fly Wallet 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. Fly Wallet’s Privacy Policy is available at https://flynamics.io/privacy-policy/ and Winway’s privacy policy is available at https://www.bybit.com/app/terms-service/privacyPolicy. Please contact us if you have any concerns.

 

 

 

How does Fly Wallet deal with the Anti-Money Laundering and Counter-Terrorism Financing Act?

Fly Wallet 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.

 

 

 

Do we have adequate compliance systems?

Fly Wallet 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.