BYBIT CARD

PRODUCT DISCLOSURE STATEMENT

 

In this Product Disclosure Statement for the Bybit Card you will find:

Part A – General Information

and

Part B – Terms and Conditions including Fees and Charges

 

Dated 5 February 2024

 

 

1. ABOUT THIS PRODUCT DISCLOSURE STATEMENT

This document (comprising Part A and Part B) forms the Product Disclosure Statement (PDS) for your Bybit Card (the Card). The PDS contains important information including fees and other costs applicable to the Card.

This PDS is issued by Fly Wallet Pty Ltd ABN 89 639 905 490 (Fly Wallet) as required under the Corporations Act 2001.

This PDS is an important document, designed to assist you in deciding to acquire the financial product to which it relates to the Card. You should read this PDS in full before using your Card

Your contract with us for the Card comprises this PDS document incorporating the Terms and Conditions, which contain important information regarding your Card. You must also enter into an agreement with Bybit in relation to the Bybit Account separate from and in addition to the below Terms and Conditions.

The information in this PDS does not consider your individual objectives, financial situation or needs. Any advice in this PDS is general advice only. You should consider the appropriateness of any general advice to your circumstances before acting on it.

 

 

2. GENERAL PRODUCT DESCRIPTION

Your Card is a prepaid reloadable Mastercard. Your Card provides you with the means to access the Spendable Balance of your Bybit Account anywhere in the world, where prepaid Mastercard cards are accepted.

When you transact using the Card and once Winway approves the amount of the transaction (which would generally occur at the same time), an amount of the digital currency which you nominate to redeem, from your Bybit Account will be redeemed, into the equivalent fiat currency value in US Dollars. The Fiat currency amount is provided by Winway to Fly Wallet and allocated to your Card to enable you to complete the transaction in fiat currency, inclusive of any fees (where applicable). You only use the Card within the Spendable Balance and transaction limits listed in Section 14.8 of the Terms and Conditions.  

The Card is not a credit or charge card and the Spendable Balance does not earn interest. Your balance is not a bank deposit.

 

3. STATEMENTS OF ACCOUNT

By successfully applying for and using the Card, you acknowledge we do not provide, and you will not receive, paper statements. Card transactions are available for viewing on the App. Please contact Winway by visiting https://www.bybit.com/en/help-center or by emailing them at support@bybit.com if you require any assistance accessing electronic statements.

 

 

4. CHANGES TO THIS PDS

The information in this PDS is subject to change from time to time and is correct and current as at the date stated on the front cover.

Information regarding your Card may need to be updated from time to time. Any updated information that is not considered to be materially adverse to Cardholders will be made available on the Website. Alternatively, you may request a paper copy of any updated information free of charge from Fly Wallet. Any updated information that may be materially adverse to Cardholders will be included in a replacement or supplementary PDS.

 

 

5. PARTIES INVOLVED IN THE DISTRIBUTION OF THE CARD

Fly Wallet Pty Ltd ABN 89 639 905 490 (Fly Wallet) is the holder of Australian Financial Services License number 527319. Under its AFSL, Fly Wallet is authorised to provide the financial services including of arranging for the issue of the non-cash payment facilities,  such as as the Card Facility.

The Issuer of the Card, is Fly Wallet and if you acquire the Card, you will have a contract with Fly Wallet. When providing financial services in relation to the Card, Fly Wallet acts on its own behalf.

Fly Wallet can be contacted via:

Email: between 8:30am to 5pm Sydney time

Mail: Suite 62/3-7 Fetherstone Street, Bankstown, NSW 2200

Email: bybit-card-support@flywallet.com.au 

Website: https://flynamics.io/bybitcard 

Winway International Pty Ltd ABN 47627612293 trading as Winway, (Winway) is an authorised representative of Fly Wallet (authorised representative number 001307703 and is authorised by Fly Wallet to arrange for the issue of the Card. When providing financial services in relation to the Card, Winway acts on behalf of Fly Wallet.

Winway can be contacted via:

Mail: ‘Governor Phillip Tower’ (GPT) Level 36, 1 Farrer Place, SYDNEY NSW 2000

Email: support@bybit.com

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

 

 

6. ROLES OF THE CARD DISTRIBUTOR AND ISSUER

Winway is responsible for the distribution of the Card and customer service support for Cardholders.

Funds provided to Fly Wallet to operate the Card program are held in a client segregated monies account maintained by Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (AFSL 234527) (ANZ). Fly Wallet is responsible for the settlement of transactions using the Card but may outsource these functions to other service providers.

Fly Wallet holds any Transit Funds on trust for you and Winway, in accordance with this PDS and the Terms and Conditions. You acknowledge that the Spendable Balance and Transit Funds can be used to meet our settlement obligations, in respect of your transactions and to provide security for our settlement obligations.

Neither Winway, nor anyone else acting on its behalf, has the authority on behalf of Fly Wallet to:

• tell you anything about the Card that is inconsistent with the information in this PDS;
• give personal financial product advice (that is, a recommendation or statement of opinion intended or that could be reasonably regarded as being intended to influence you in making a decision and where one or more of your objectives, financial situation and needs has been considered) about the Card;
• and do anything else on behalf of Fly Wallet other than marketing, arranging for the issue of and providing customer services for the Card.

 

 

7. WHO IS ELIGIBLE FOR THE CARD?

To be eligible for the Card you must be:

• 18 years of age or older;
• an Australian resident;
• a customer with a verified Bybit Account; and
• agree to Winway Terms and Conditions relating to the issue of the Card.

 

 

8. SIGNIFICANT BENEFITS TO CARDHOLDERS

The significant benefits of the Card are as follows:

• The Card is a prepaid, reloadable Mastercard which means that it can be used to pay for goods and services from merchants in Australia and around the world who accept Mastercard prepaid cards including online purchase transactions;
• The Card is reloadable, which means that you can use it as many times in accordance with section 14.4 and within the applicable limits set out in 14.8;

• The Card can be used to make Contactless Transactions for purchases. Simply place your Card near or on the EFTPOS Device. Before authorising a Contactless Transaction, you must check that the correct amount is displayed on the EFTPOS Device;
• Once added to a Device Wallet as a Tokenised Card, you can use your Device to make simple and secure payments with the Pays; and
• When using the Card, you can only access the Spendable Balance allocated within your Bybit Account. It is not a credit card and any amount that is used to clear the transaction for your benefit, needs to be paid back, before any further transactions are completed.

 

 

9. SIGNIFICANT RISKS TO CARDHOLDERS

Some of the risks associated with the use of the Card are outlined below. The risks described are intended to be a summary of the major risks associated with the Card and are not exhaustive. There may be other risks that relate to the use of your Card.

Significant risks to cardholders are:

• the ability to access the Spendable Balance with the Card is ultimately dependent on Winway transferring the redeemed amount (Transit Funds) of your Spendable Balance from your Bybit Account to Fly Wallet. Accordingly, if Winway becomes insolvent or if there is otherwise a delay in the transfer of Transit Funds, there is a risk you may not be able to access the Spendable Balance;
• when you use the Card for a transaction, the digital currency nominated in your Bybit Account will be redeemed into US Dollars by Winway at the sell price, determined by Winway, for that digital currency at the time of the purchase or pre-authorisation (as applicable). As such, the sale of the nominated digital currency, is subject to market fluctuations, and you may be subject to variations in the value of the digital currency as against the US Dollar at the time of each transaction;
• the Card will expire at the date shown on the Card. You cannot use an expired Card to access any Spendable Balance until a replacement Card is provided to you;
• Unauthorised Transactions can happen using the Card, if the Device is lost or stolen, a PIN is revealed to any other person, or because of fraud;
• you may unintentionally use the Card if you have multiple tokenised cards within your Device Wallet and you inadvertently use the Card for purchases;
• incorrect amounts may be charged, if you do not confirm the correct transaction amount, before authorising a Contactless Transaction;
• unintended transactions can happen if electronic equipment with which the Card is being used is operated incorrectly or incorrect details are input;
• you might not be able to get your money back if Unauthorised Transactions or unintended transactions occur;
• if the electronic network enabling the use of the Card is unavailable, you may not be able to undertake transactions or get information using the Card;
• your Card or Device could be lost, destroyed or stolen;
• the Financial Claims Scheme does not apply in relation to the Card or your Spendable Balance;
• Winway may request a claim from you in the event of Negative Balance accrued through the use of Bybit Card.

 

 

10. IMPORTANT INFORMATION ABOUT THE FINANCIAL CLAIMS SCHEME

The Financial Claims Scheme is a scheme administered by the Australian Prudential Regulation Authority (APRA) to protect depositors of authorised deposit-taking institutions from potential loss due to the failure of these institutions. It provides depositors with a guaranteed protection, up to a cap. As at the date of this PDS, the Financial Claims Scheme applies to deposits only. It does not extend to prepaid card products.

The Financial Claims Scheme does not protect any Spendable Balance accessible through your Card.

For more information, see APRA’s website at https://www.fcs.gov.au/

 

 

11. YOUR TAX LIABILITY

You should get your own independent tax and financial advice in relation to the impact your use of the Card may have on your personal tax liability as Fly Wallet has not considered your individual circumstances or needs when arranging for the distribution of your Card.

 

 

12. OTHER IMPORTANT INFORMATION

There are some other important things you need to be aware of about the Card:

• it does not generate any interest or other return to the holder. In other words, you do not earn interest on the value loaded to the Card;
• press the Credit button on the EFTPOS Device to access the Spendable Balance; and
• the method of communication Fly Wallet will use to give you information, including information under the ePayments Code, will be Electronic Communication.

 

 

13. PROBLEMS OR DISPUTES

13.1. Disputing an Unauthorised Transaction

Where your Card is used for Unauthorised Transactions, we will seek to reverse the transaction, if we can under the Mastercard Scheme Rules using what is called a chargeback right. Your ability to dispute or reverse an Unauthorised Transaction, may be lost, if you do not notify us as soon as possible.

You are responsible to  and it is your responsibility to regularly review your online transaction history to identify Unauthorised Transactions. Under these Terms and Conditions, we are not to  be responsible for any loss to you if you do not dispute an Unauthorised Transaction within the timeframe stipulated in the Mastercard Scheme Rules.

 

13.2. Queries, Disputes and Complaints

If you have a query about the Card, you should initially direct the query to Winway.

Winway can be contacted via:

Email: support@bybit.com

Website: https://www.bybit.com

If you are unable to resolve your issue with Winway directly, you can escalate your enquiry to Fly Wallet. 

Fly Wallet will aim to resolve the matter on your initial contact. However, if we can’t resolve your complaint within 5 business days, we will commit to keeping you informed of what is happening and aim to resolve your complaint within 30 business days.

In some circumstances, more than 30 business days may be needed to investigate a complaint, for example, if the complaint is complex, if there are delays caused by other financial institutions or merchants involved in resolving the complaint and/or where the Mastercard Scheme Rules govern the time taken to exercise a chargeback right.

Once your complaint is resolved, we will check with you, to make sure you are satisfied with how your complaint was handled. If we are unable to resolve your complaint to your satisfaction, you may be eligible to escalate the complaint to external dispute resolution service, the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers. AFCA can be contacted at the following:

Mail: GPO Box 3, Melbourne VIC 3001;

Phone: 1800 931 678 (free call)

Website: www.afca.org.au

Email: info@afca.org.au

 

 

14. TERMS AND CONDITIONS 

14.1. DEFINITIONS

AFSL means Australian Financial Services Licence.

AML/CTF Laws means the Anti-Money Laundering & Counter-Terrorism Financing Act 2006 (Cth) and the Rules and other subordinate instruments under that Act.

App means the mobile application provided by Bybit that allows you to manage your Card, review transactions and check your Spendable Balance.

ATM means an Automated Teller Machine.

Biometric Identifier means a fingerprint, faceprint or any other similar biometric identifier.

Business Day means a day that is not a Saturday, Sunday or public holiday being a day on which banks are open for general banking business in New South Wales, Australia.

Card means the Bybit Card.

Winway means Winway International Pty Ltd ABN 47627612293, trading as Bybit Card.

Bybit means Bybit Fintech Limited

Bybit Account means the digital currency account you have opened with Bybit used to convert, buy, sell and trade digital currencies, as well as nominating of digital currencies to transact with using the Card.

Bybit Terms of Use means the terms of use for operating the Bybit platform used to convert, buy, sell and trade digital currencies and any other associated services provided by Bybit.

Contactless Transaction means a transaction made by holding a Card (which can make a Contactless Transaction) against an EFTPOS Device to complete a transaction, rather than inserting the card into the EFTPOS Device.

Device means a compatible smartphone or wearable device that supports a Device Wallet, enabling you to use the Device as a payment method for purchase transactions.

Device Pass Code means anything used to unlock and access a Device including, but for instance  not limited to, a password, numerical code, pattern or Biometric Identifier.

Device Wallet means the Apple Pay, Google Pay or Samsung Pay mobile applications that store the Card as a tokenised card on a Device.

EFTPOS/POS means Electronic Funds Transfer at Point Of Sale/Point Of Sale.

EFTPOS Device means the device included in an authorised interchange network used by merchants to accept cards for purchases at POS, including for Contactless Transactions.

Electronic Communication means a message which is sent to you and which you receive electronically, in a form that you can retain for later reference such as by printing or by storing for later display.

ePayments Code refers to the amended code formerly known as the Electronic Funds Transfer Code of Conduct issued by the Australian Securities and Investments Commission on 1st April 2001, as amended on 20 March 2013 , and includes any subsequent amendments or replacements.

Fly Wallet means Fly Wallet Pty Ltd ABN 89 639 905 490, AFSL 527319.

Expiry Date means the expiry date printed or displayed on the front, or back, of the Card as the case may be.

Financial Claims Schemes means the scheme administered by the Australian Prudential Regulation Authority (APRA) to protect depositors of authorised deposit-taking institutions from potential loss due to the failure of these institutions.

Identifier means information that you know but are not required to keep secret and which you must provide to perform a transaction (for example, a Card number.

Issuer means Fly Wallet.

Mastercard means Mastercard International Incorporated. 2000 Purchase Street, Purchase, NY 10577 USA

Mastercard Scheme Rules means the Mastercard Scheme Rules and the Mastercard Technical Operational and Security Rules.

Negative Balance means a negative rather than a positive Spendable Balance.

PAN means the 16-digit Primary Account Number, which is the number embossed on the front of the Card or provided in your Device.

Pass Code means a password or code that you must keep secret that is used to authenticate your identity or a transaction. Examples include a code delivered to you by text message to your mobile phone, or email which is required to perform a transaction (often called ‘Two Factor Authentication’.

Pays Providers means the mobile payment and Device Wallet services created by Apple, Google and/or Samsung Pay, respectively.

Personal Information means information or an opinion (including information or an opinion forming part of a database), whether true or not and whether recorded in a material form or not, about you when your identity is apparent or can reasonably be ascertained from the information or opinion.

PIN means the six-digit personal identification number which we issue to you to access some of the Card services.

PIN Mailer means the letter sent to each cardholder including the Card and instructions on how to use your Card.

POS Transaction means Point of Sale transactions.

Product Disclosure Statement means this document.

Security Requirements means the Security Requirements described under section 14.11 “Security”.

Spendable Balance means the value of the digital currencies recorded by in Bybit Account as available for sale into US Dollars to make transactions with the Card, less any purchases, authorisations, cash withdrawals, fees and charges or other amounts debited under the Terms and Conditions.

Terms and Conditions means Part B of this document.

Tokenised Card means a card that has had sensitive personal information (including, but not limited to, a PAN) substituted for a unique identifier (token) by Mastercard and stored within a Device Wallet for you to use as payment. A Tokenised Card can be used for Contactless Transactions as well as card not present transactions, including online purchases.

Transit Funds means: (a) in the case of purchase or cash withdrawal a US Dollar amount that is being redeemed from Spendable Balance and is therefore being transferred from Winway to Fly Wallet, or (b) in the case of refund or other reversal of the underlying transaction a US Dollar amount that is being returned to Spendable Balance and is therefore transferred from Fly Wallet to Winway.

Unauthorised Transaction means a transaction not authorised by you but does not include any transaction carried out by you or by anyone performing the transaction with your knowledge and consent.

we, us, our means Fly Wallet and, except where the context indicates a different intention, also includes any agent acting on behalf of Fly Wallet

Website means the secured web site for the Card shown on the card promotion materials and any additional or replacement website we notify you as the website for the purposes of these Terms and Conditions from time to time.

You refers to a person who has opted in for and has been (or is to be) issued with the Card. Any other grammatical form of the word “you” has a corresponding meaning.

 

 

14.2. OVERVIEW

These Terms and Conditions govern the use of the Card in addition to your agreement with Winway. Please read both carefully and keep a copy for your records. By loading the Card to your Device Wallet and using the Card, you agree to be bound by these Terms and Conditions. You also acknowledge and agree to the disclosures and other information contained in the Product Disclosure Statement. Those disclosures and information form part of the agreement between you and Fly Wallet except to the extent that these Terms and Conditions provide otherwise or qualify the disclosures and information.

 

 

14.3. THE CARD

• the Card is a prepaid, reloadable Mastercard card and you must ensure that there is a positive Spendable Balance before the Card can be used;
• you can load (or reload) value onto your Card by in accordance with section 14.4 of these Terms and Conditions;
• the Card allows purchases to be made wherever Mastercard cards are honoured for electronic transactions if a sufficient Spendable Balance exists for the transaction;
• the Card is not a Credit Card;
• the Card is not a facility by which Fly Wallet takes deposits from you;
• there is no interest payable to you on the credit balance on the Card; and
• the Card remains the property of Fly Wallet and you must surrender the Card to us if we ask for it to be surrendered.

 

 

14.4. ACCESSING THE SPENDABLE BALANCE

Within your Bybit Account, you must set the order of preference for the digital currencies you want to redeem when you use the Card for transactions (your Spendable Balance). At the point of sale, Winway will sell the equivalent amount of the transaction in US Dollars from the nominated digital currency which has a value in US Dollars equal or greater to the value of the transaction (plus any fees). Where the first nominated digital currency does not have an equivalent value in US Dollars equal to or greater than the value of the transaction, Winway will sell the next nominated digital currency for the remaining US Dollar amount, and if such next digital currency also does not have an equivalent value in US Dollars to cover the remaining amount, Winway will proceed in similar fashion with all the applicable digital currencies in your Bybit Account.

 

For example: You nominate Bitcoin (BTC), Ethereum (ETH) and USD Coin (USDC) as the digital currencies, in that order of preference, within your Bybit Account seeking a redemptive transaction with the Card; You use the Card at a merchant to make a purchase equivalent to $1,000 US Dollars; Within your Bybit Account, the equivalent US Dollar balance of the nominated digital currencies is as follows: BTC = $400 USD; ETH = $1,000 USD; USDC= $2,000 USD; As you have insufficient USD value of BTC account, Winway will redeem $400 USD (at the sell price for that digital currency at the same time of your Card transaction) of BTC, and then $600 USD of ETH and the transaction will be completed; Your BTC balance within your Bybit Account will be reduced to zero, and ETH balance will be reduced by $600 USD reflecting the above sale of the BTC and ETH, plus any fees applicable to the sale of the ETH and BTC.

 

The Card can only be used as provided for in these Terms and Conditions and subject to the limits shown in Section 14.8.

 

 

14.5. USING THE CARD

• you must register as the cardholder of the Card via the Website or App by following the prompts;
• upon registration, your virtual Card will be activated and ready for use;
• your physical card will be delivered to you by mail (if ordered), and will need to be activated upon receipt;
• You can purchase goods and services using your Card and the payment is debited against your Spendable Balance. The Card allows you to purchase goods and services:
  • at an outlet within Australia that has an EFTPOS Device;
  • over the telephone or the internet by providing the PAN, expiry date and security code; or
  • at outlets overseas wherever Mastercard cards are accepted.
• When you are paying for goods and services at an EFTPOS Device or providing the Card number to a merchant over the telephone or the Internet, you’ll be covered by Mastercard’s Zero Liability Protection Policy. This means you are protected against Unauthorised Transactions. Mastercard’s Zero Liability Protection Policy does not apply to ATM transactions or transactions not processed by Mastercard.
• if you make or attempt to make any transactions that exceed the Spendable Balance then you will be liable for any Negative Balance, along with any costs or interest we incur in recovering or attempting to recover from you the amount owing;
• if a Negative Balance arises, that does not mean that a Negative Balance will be allowed to arise or be increased on subsequent occasions;
• you can use your Card within the limits specified in section 14.8 provided that you do not exceed the Spendable Balance and the expiry date for the Card has not passed;
• Fly Wallet or Winway may restrict or stop the use of the Card if use of the Card exceeds the limits within 14.8, where Fly Wallet has reasonable grounds to do under 14.19 or where other suspicious activities are noticed;
• you cannot “stop payment” on any transaction after it has been completed. If you have a problem with a purchase made with the Card, or a dispute with a merchant, you must deal directly with the merchant involved. If you cannot resolve the dispute with the merchant, you should contact Fly Wallet.
• if you are entitled to a refund for any reason relating to a transaction, you agree to accept the refund under the policy of that specific merchant. The refund amount will be transferred from Fly Wallet to Winway, who will pay the refund into your Bybit Account in US Dollars (and not in the digital currency initially used to fund the purchase). If the Card is expired or revoked before you have spent any value loaded to the Card resulting from a refund then you will have no access to those funds unless a replacement Card has been issued to you;
• we are not liable in any way when an authorisation is declined for any particular transaction regardless of the reason;
• if you permit someone else to use the Card, you will be responsible for any transactions initiated by that person with the Card; and
• you may not make pre-authorised regular payments with the Card.

 

14.6. FEES AND CHARGES

You agree to pay the fees provided in these Terms and Conditions. Whenever any of these fees are incurred or become payable, you authorize us to deduct it from the Spendable Balance and reduce the Spendable Balance accordingly.

Applicable fees are as follows:

 

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%

 

All fees and charges are expressed in US Dollars and are inclusive of any applicable GST

All transaction fees are charged at the time of transaction and are included in the total purchase price.

When you use the Card for a transaction, the nominated digital currency in your Bybit Account will be sold for US Dollars at the sell price for that digital currency at the same time of your Card transaction. Winway will also charge you the normal trading fee charged for selling your digital currency (to fund the Card transaction) in accordance with Winway’s trading fees, which are available on their website.

Certain merchants may charge an additional fee if the Card is used to purchase goods and/or services. This fee is determined and charged by the merchant and is not retained by us.

 

 

14.7. NON-USD TRANSACTIONS

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, which is in addition to any fees Winway may charge for digital currency sale. 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 = $2.18

 

For a full listing of fees and charges please refer to section 14.6 Fees and Charges.

 

14.8. LIMITATIONS OF USE OF THE CARD

The following limitations apply to the Card:

• • • the Card may not be used for, and authorisation may be declined for, any illegal transactions; and
    • some retailers may choose not to accept prepaid Mastercard cards.

The following table illustrates the transaction and load limits applicable to the Card. Merchants or other providers of facilities may impose additional limits.

 

Load/transaction	Limit
Point of Sale Limits
Maximum Point of Sale transaction amount: in any one transaction	$13,500 USD, or approximately 20,460 AUD as per RBA exchange rate on 2nd Feb 2024
Daily Point of Sale limit: cumulative for all transactions	$13,500, or approximately 20,460 AUD as per RBA exchange rate on 2nd Feb 2024
Maximum ATM cash withdrawal limit per day: cumulative for all transactions and any single one transaction	$600, or approximately 909 AUD as per RBA exchange rate on 2nd Feb 2024
Monthly Point of Sale limit: cumulative for all transactions	$27,000, or approximately 40,927 AUD as per RBA exchange rate on 2nd Feb 2024
Monthly ATM limit: cumulative for all transactions	$1,800, or approximately 2,728 AUD as per RBA exchange rate on 2nd Feb 2024
Annual Point of Sale limit: cumulative for all transactions	$270,000, or approximately 409,276 AUD as per RBA exchange rate on 2nd Feb 2024
Annual ATM limit: cumulative for all transactions	$13,500, or approximately 20,460 AUD as per RBA exchange rate on 2nd Feb 2024

 

You will set your PIN through Website or App. You must not disclose your PIN to any other person.

Should an incorrect PIN be entered three times when a transaction is attempted using the Card, Card may be temporarily suspended.

A Pass Code may be provided to your registered Device to complete a transaction – this is often referred to as Two Factor Authentication. Where you are provided a Pass Code for Two Factor Authentication, you must not disclose that Pass Code to any other person.

 

14.9. SECURITY

You must make sure you keep the Card, Device, Identifiers and any PIN’s or Pass Codes safe and

secure. The precautions we require you to take (Security Requirements) are set out below. You must not:

• allow anyone else to use the Card;
• unnecessarily disclose the PAN;
• write, or carry, the PIN with the Card or record the PIN or Device Pass Code on anything carried with the Card or Device that is liable to loss or theft simultaneously with the Card or Device, unless you make a reasonable attempt to protect the security of the PIN or Device Pass Code;
• voluntarily disclose the PIN, Device Pass Code or Pass Code to anyone, including a family member or friend;
• allow someone else to register a Biometric Identifier on your Device; or
• provide any Device Pass Code to another person to access your Device.

To safeguard your Card from unauthorised use, you should:

• memorise your PIN and never store it with or near your Card;
• if you add the Card to a Device Wallet, you should:
  • always lock your Device;
  • assign a Device Pass Code to unlock your Device;
  • not share your Device Pass Code to anyone;
  • not leave your Device unattended;
  • remove any other registered Biometric Identifier which is not your own from your Device;
  • ensure that any security details to access your Device or authorise a payment with your Device is not easily guessed;
• immediately report the loss, theft or unauthorised use of your Card or Device to Winway through designated support channels; and
• examine your account statement on the Website or the App to identify and report, as soon as possible, any instances of unauthorised use.

 

 

14.10. LOSS, THEFT AND MISUSE OF CARDS

If you know or have reason to suspect that your Card or Device is lost or stolen or damaged, likely to be misused or you have reason to suspect that someone else may know the PIN, Identifiers, Device Pass Code or Pass Code, you must immediately notify Winway or Fly Wallet. We will then suspend your Card to restrict further use.

You may be required to confirm details of the loss, theft or misuse in writing (and to provide information in the confirmation) and you must comply with that requirement.

If any lost Card or Device is subsequently found, it must not be used, you must not attempt to use the Card associated with that Device.

In that event, you will need to contact Winway through designated support channels, Website or App, and arrange to be issued with a new Card.

 

14.11. LIABILITY FOR UNAUTHORISED TRANSACTIONS

Your liability for losses arising from Unauthorised Transactions will be determined under the ePayments Code.

Where you are not liable

You will not be liable for losses resulting from Unauthorised Transactions where you have not contributed to the loss.

You will not be liable for losses resulting from Unauthorised Transactions caused by:

• fraud or negligence by our employees or agents, a third party involved in networking arrangements, or a merchant or their employee or agent;
• a Card, Identifier or Pass Code which is forged, faulty, expired or cancelled;
• a transaction requiring the use of a Card and/or Pass Code that occurred before you have received the Card and/or Pass Code (including a reissued Card and/or Pass Code);
• a transaction being incorrectly debited more than once to your Card; or
• an Unauthorised Transaction performed after you have informed us that your Card has been misused, lost or stolen, or the security of a Pass Code has been breached.

You are not liable for loss arising from an Unauthorised Transactions that can be made using an Identifier without the Card or a PIN. Where a transaction can be made using the Card, or a Card and an Identifier (such as a Contactless Transaction using the Tokenised Card) without a PIN, you are liable only if you unreasonably delay reporting the loss or theft of a Device.

Where you are liable

You are liable for loss resulting from an Unauthorised Transaction if we can prove on the balance of probability that you contributed to the loss through fraud or breaching sections 14.11 and 14.12 of these Terms and Conditions. In those circumstances you are liable in full for the actual losses that occur between when you become aware (or should reasonably have become aware) of the theft or misuse of a Card or Device or the compromise of the PIN or Pass Code, and when you reported it to us; however:

• you are not liable for the portion of losses incurred on any one day more than any applicable daily transaction limit; and
• you are not liable for the portion of losses incurred in any period more than any applicable periodic transaction limit; and
• you are not liable for the portion of losses that exceeds the Spendable Balance; and
• you are not liable for the portion of losses incurred if you and we had not agreed that the Spendable Balance could be accessed using the Card or identifier and/or PIN used to perform the transaction.

You will be liable for losses arising from an Unauthorised Transaction if we can prove on the balance of probability that you contributed to those losses by unreasonably delaying reporting the misuse, loss or theft of a Card or Device, or that the security of all PIN or Device Pass Codes has been breached. In those circumstances, you are liable in full for the actual losses that occur between when you become aware of the security compromise, or should reasonably have become aware in the case of a lost or stolen Card, but:

• you are not liable for the portion of losses incurred on any one day more than any applicable daily transaction limit; and
• you are not liable for the portion of losses incurred in any period more than any applicable periodic transaction limit; and
• you are not liable for the portion of losses that exceeds the Spendable Balance; and
• you are not liable for the portion of losses incurred if we and you had not agreed that the Spendable Balance could be accessed using the Card or Identifier and/or PIN used to perform the transaction.

If a PIN was required to perform an Unauthorised Transaction not already covered above, you will be liable for the lesser of:

• $150 AUD; or
• the Spendable Balance; or
• the actual loss at the time that the misuse, loss or theft of a Card or breach of PIN security is reported to us, excluding that portion of the losses incurred on any one day which exceeds any relevant daily of other periodic transaction limit.

If you report an Unauthorised Transaction, we will not hold you liable for losses arising from the Unauthorised Transaction for an amount greater than your liability if we exercised any rights under Mastercard Scheme Rules, at the time of the report, against other parties to the Mastercard scheme (for example, chargeback rights).

 

Important Information about Chargebacks

A chargeback is a right under the Mastercard Scheme Rules by which a transaction can effectively be reversed by us debiting an amount to the merchant’s financial institution and crediting back to your Spendable Balance. We can only process chargebacks if the Mastercard Scheme Rules allow us to.

In some circumstances, you may be able to request a chargeback of a transaction when you have a dispute with a merchant; for example:

• • • where goods or services you paid for using the Card were either not as described or defective;
    • where goods or services you paid for using the Card were not provided;
    • where there was an Unauthorised Transaction on the Card;
    • the transaction amount differs to the purchase amount; or
    • where you believe a transaction has been duplicated.

If you believe that you are entitled to a chargeback, you must notify us as soon as possible by contacting Fly Wallet as the Mastercard Scheme Rules impose time limits for initiating chargebacks. The time limit is generally 90 days from the date of the disputed transaction.

If you request a chargeback, we may need you to provide additional information. If we do ask you for additional information and you do not provide it within 10 days, then you may lose any rights to the chargeback and if it has already been processed, we may reverse it.

Please note that if we process a chargeback, the merchant may have rights under the Mastercard Scheme Rules to have the transaction investigated further, and this can in some circumstances result in the chargeback being reversed (which means the original transaction might be reinstated by being debited to your Spendable Balance).

 

 

14.12. TRANSACTIONS

You acknowledge that you will not receive paper statements from us regarding the operation of your Card. Periodic statements showing the transactions on your Card and the Spendable Balance be available at all times through the Website or the App .

If you notice any error (or possible error) in any transaction or statement relating to Card, then you must notify Fly Wallet immediately. We may request you to provide additional written information concerning any error (or possible error) and you must comply with that request.

It is your responsibility to regularly review your transaction history to identify Unauthorised Transactions.

 

 

14.13. CARD EXPIRY

The Card is valid until the expiry date shown on it unless it is cancelled before then.

Your Card cannot be used after expiry. You cannot access any Spendable Balance unless a replacement Card is issued to you.

We may issue you with a replacement Card if requested by you at any time after expiry and provided you have registered your details with us, including your name and Australian address. We reserve the right not to issue a replacement Card to you.

 

14.14 REPLACEMENT CARDS

If your Card is misused, lost or stolen, you should notify Winway or Fly Wallet in accordance with section 14.12 so that your Card can be cancelled.

You can request Winway or Fly Wallet to provide you with a replacement Card.

A replacement Card will be arranged after you notify us that your Card or Card details are misused, lost or stolen in accordance with section 14.12 and the misused, lost or stolen Card has been blocked. You will need to confirm your personal details, register and activate the new Card in accordance with section 14.5 and add your Tokenised Card to your Device Wallet.

 

14.15. CARD REVOCATION AND CANCELLATION

You may ask for the Card to be cancelled at any time. If you ask for the Card to be cancelled and we ask you to, you must remove the Tokenised Card from your Device Wallet, and you must not use the cancelled Card. When you surrender the Card, you must give us your correct name and contact address.

We may cancel your Card at any time. Where possible, we will give you 20 days advance notice of the cancellation. However, we may act without prior notice if:

• • • we believe that use of the Card may cause loss to you or to us; or
    • we believe that it is required for security purposes, including where it used for Unauthorised Transactions or due to fraud; or
    • you breach any material term or conditions of this PDS, including these Terms and Conditions; or
    • you breach Winway’s Terms and Conditions; or
    • we suspect the Card has been used illegally.

If we cancel your Card, we will give you notice as soon as reasonably practical afterwards.

We may revoke the Card at any time without cause or notice. If we ask you to, you must surrender or destroy the revoked Card and you must not use the revoked Card.

 

 

14.16.  LIABILITIES AND DISCLAIMERS

We are not liable:

• if, through no fault of our own, the Spendable Balance is not enough to cover a transaction;
• if, through no fault of our own, an EFTPOS Device or system does not work properly;
• if circumstances beyond Fly Wallet control prevent a transaction, despite any reasonable precautions having been taken by us;
• for any loss resulting from any failure due to events outside our reasonable control;
• for any loss resulting from any system failure or industrial dispute outside our reasonable control;
• for any industrial dispute;
• for the way in which any merchant refuses to accept the Card;
• for any indirect, special or consequential losses;
• for any infringement by you of any currency laws in the country where the Card is issued or used;
• for any dispute between you and the supplier of any goods or services purchased with the Card;
• for our taking any action required by any government, federal or state law or regulation or court order; or
• for anything specifically excluded or limited elsewhere in these Conditions of Use.

However:

• your liability for Unauthorised Transactions will be determined according to the ePayments Code; and
• we will not avoid any obligation to you under the ePayments Code on the basis that another party to a shared electronic payments network (to which we are also a party) has caused the failure to meet the obligation.

Our liability in any event shall not exceed the amount of the Spendable Balance except in relation to:

• Unauthorised Transactions; and
• consequential losses arising from a malfunction of a system or equipment provided by any party to a shared electronic network (unless you should reasonably have been aware that the system or equipment was unavailable or malfunctioning, in which case our liability is limited to correcting any errors and refunding any fees or charges imposed on you).

If any warranties or conditions are implied because of Part 2 of the Australian Securities and Investments Commission Act 2001 or any similar law in respect of services supplied under these Terms and Conditions or in connection with the Card, then our liability for a breach of such a warranty or condition will in any event be limited to:

• the supplying of the services again; or
• the payment of the cost of having the services supplied again.

Fly Wallet:

• does not make or give any express or implied warranty or representation in connection with the Card (including quality or standard or fitness for any purpose), other than as set out in the PDS and these Terms and Conditions or when the warranty or representation is imposed or required by law and cannot be excluded; and
• is not liable for any loss you suffer (including indirect or consequential loss) arising in connection with the Card (whether a failure to provide the Card or its loss, theft or destruction).

Fly Wallet's obligation to the Cardholder in relation to the functionality of the Device Wallet is limited to securely supplying information to Pays Providers to allow the use of the Card within a Device Wallet. Fly Wallet is not otherwise liable for the use, functionality or availability of the Device Wallet, the availability of compatible EFTPOS Devices, or a reduced level of service caused by the failure of third party communications and network providers (except to the extent that we are deemed liable under the ePayments Code).

You will need to agree to the respective Pays Provider’s terms and conditions to use the Tokenised Card

Any failure or delay enforcing a term of these Terms and Conditions does not mean a waiver of them.

 

 

14.17. ANTI-MONEY LAUNDERING AND COUNTER TERRORISM FINANCING OBLIGATIONS

Fly Wallet is subject to the AML/CTF Laws and Fly Wallet is obliged to collect certain identification information from you (and verify that information) in compliance with the AML/CTF Laws. Customer identification information includes detailed 'know your customer' (KYC) information about the Cardholder such as:

• name, and
• address, and
  • • date of birth.

Fly Wallet may be prohibited from offering services or entering into or conducting transactions with you if you do not provide this information. Further, Fly Wallet may cancel a Card if you do not provide this information.

You should be aware that:

• Fly Wallet is not required to take any action or perform any obligation under or in connection with the Card if it is not satisfied as to your identity, or where there are reasonable grounds to suspect that by doing so it may breach the AML/CTF Laws;
• transactions may be delayed, blocked, frozen or refused where we have reasonable grounds to believe that they breach Australian law or sanctions (or the law or sanctions of another country).
• Where transactions are delayed, blocked, frozen or refused, Fly Wallet and Winway are not liable for any loss you suffer (including consequential loss) howsoever caused in connection with your Card;
• Fly Wallet may from time to time require additional information from you to assist us in the above compliance process; and
• where legally obliged to do so, Fly Wallet will disclose the information gathered to regulatory and/or law enforcement agencies, banks, service providers or to other third parties.

You provide Fly Wallet with the following undertakings and indemnify Fly Wallet against any potential losses arising from any breach by you of such undertakings:

• you will not initiate, engage or effect a transaction that may be a breach of Australian law or sanctions (or the law or sanctions of any other country); and
• the underlying activity for which your Card is being provided does not breach any Australian law or sanctions (or the law or sanctions of any other country).

 

 

14.18. PRIVACY AND INFORMATION COLLECTION

Fly Wallet (in this Privacy Statement referred to as "we"), collects your Personal Information along with information regarding your Device (such as device type and model, operating systems and security information) so that we can establish and administer the Card provided to you.

Examples of Personal Information we collect include names, addresses, email addresses, and phone numbers.

When we collect personal information we will, where appropriate and where possible, explain to you why we are collecting the information and how we plan to use it.

We collect and store your personal information for the primary purpose of creating and managing your Card. As part of this process, we use this information to verify your identity so that we can comply with the

AML/CTF Laws. We may also use your personal information to communicate with you and in circumstances where you would reasonably expect such use or disclosure.

We will only use your Personal Information to:

• to ensure that the Card properly functions with your Device;
• to assist in arrangements with other organisations in relation to the provision of a product or service;
• to perform administrative and operational tasks (including systems development and testing);
• to prevent or investigate any fraud or crime (or a suspected fraud or crime);
• satisfy identification requirements under the AML/CTF Laws and such information may be exchanged with verification agencies (which may be overseas).

We may also exchange information with Pays Providers:

• to enable the use of the Card with the Device Wallet and to improve and promote the Pays Providers generally; and
• to detect and address suspected security breaches or fraud.

Without your information, we cannot make the Card available to you and you should not apply for the product.

If you provide us with Personal Information about someone else, you should ensure that you are authorised to do so and agree to inform that person of the contents of this notice.

Personal Information will be disclosed to third parties about the Card or transactions made with the Card, and may be disclosed to third parties outside Australia, whenever allowed by law and including, but not limited to, the following: :

• to satisfy identification requirements under the AML/CTF Laws; or
• for completing a transaction, including for the purpose of completing two-factor authentication; or
• to verify the existence and condition of a Card; or
• to utilise services of affiliates who assist in providing a Card; or
• if you give us permission; or
• if you owe us money; or
• if there are legal proceedings or a complaint in connection with the Card; or
• to protect against potential fraud and other crimes.

We will not disclose your Personal Information outside Australia, except where outlined in the above circumstances and where such disclosure is within the terms of our Privacy Policy.

By applying for and using the Card, you consent to us collecting, using and disclosing your Personal Information under these terms and conditions in the manner described above.

Our Privacy Policies 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. Our Privacy Policies are available at:

Fly Wallet: https://flynamics.io/privacy-policy/ 

Winway: https://www.bybit.com/app/terms-service/privacyPolicy 

You may contact Fly Wallet’s Privacy Officer in relation to your Personal Information (or to opt out of marketing) or bybit-card-support@flywallet.com.au

You may contact Winway Privacy Officer in relation to your Personal Information (or to opt out of marketing) support@bybit.com

The Privacy Policies of the Pays Providers are available at:

Apple Pay: https://www.apple.com/au/privacy/

Google Pay: https://policies.google.com/privacy?hl=en&gl=au 

Samsung Pay: https://www.samsung.com/au/info/privacy/

 

 

14.19. COMMUNICATIONS

You agree that we may give written notices or other communications to you under or in connection with these Terms and Conditions (including information under the ePayments Code such as statements) by either:

• sending the notice, information or communication using email; or
• using email to notify you that the notice, information or communication is available from an electronic address (such as the Website).

You may vary your nominated email address by notifying us through the Website or App and satisfying us of your identity.

In addition, we may give you notices, information or other communications to you relating to the Card (including information under the ePayments Code such as statements):

• by sending communications to the email address last known to us, or which you last gave us for sending notices and communications to you; or
• if the notice or communication is not personal to you – by publishing a notice to the Website.

If we give a notice, information or other communication to you electronically, you are taken to have received it on the day it is transmitted.

You agree that, for the purpose of communications received by us by email or through the Website, we:

• may verify your identity by reference to any or all the information given by you when applying for the Card or during the Card activation or any changes made to this information; and
• may proceed on the basis that we are satisfied by that verification.

 

 

14.20. KEEPING YOUR CONTACT DETAILS UP TO DATE

You must notify us immediately of any change to your address and other contact details by updating your details through the App or notifying Winway. We will not be responsible if you do not receive any notice or correspondence that has been sent in accordance with the contact details you have provided.

We accept no responsibility or liability for late, lost or misdirected SMS messages or emails caused by inaccurate provision of personal details by you, or by system constraints or failures experienced by your email or mobile phone service providers.

 

 

14.21. CHANGES TO THESE TERMS AND CONDITIONS

We may change these Terms and Conditions and any information in this PDS relating to the Terms and Conditions (including fees and charges and load and transaction limits) at any time without your consent for one or more of the following reasons:

• to comply with any change or anticipated change in any relevant law, code of practice, guidance or general practice; or
• to reflect any decision of a court, ombudsman or regulator;
• to reflect a change in our systems or procedures, for security reasons; or
• because of changed circumstances (including by adding benefits or new features); or
• to respond proportionality to changes in the cost of providing the Card; or
• to make them clearer.

Where a change to this PDS involves an increase to our fees and charges, the introduction of a new fee or charge or is otherwise materially adverse, we will give you notice at least 30 days before the change takes effect. We will notify you of these changes by sending an individual notice to you (either by giving it to you personally or by email).

Where changes to these Terms and Conditions are not materially adverse, we will notify you at least 20 days before any changes to these Terms and Conditions take effect and we may update the information by making information about the change available on the Website. You can obtain a paper copy of this information on request free of charge.

However, changes necessitated by an immediate need to restore or maintain the security of the system in which the Card is used can be made subject to the law and the ePayments Code without prior notice.

 

 

14.22. THE WEBSITE

Although considerable effort is always expended to make the Website and any other operating communication channels available, no warranty is given that these channels will be available and error free every minute of every day.

You agree that we are not responsible for temporary interruptions in service due to failure beyond our control including, but not limited to, the failure of interconnecting operating systems, computer viruses, and forces of nature, labour disputes and armed conflicts.

 

 

14.23. GOVERNING LAW

Any disputes or proceedings concerning these Terms and Conditions and the agreement between you and us relating to the Card  are governed by  the  laws  of the State of  New South Wales, Australia. The parties submit to the exclusive jurisdiction of the Courts of the State of New South Wales.