Spriggy Financial Services Guide User Guide
- October 27, 2023
- Spriggy
Table of Contents
Spriggy Financial Services Guide
About this guide
It is important that you read this Financial Services Guide (FSG). It contains
important information to help you decide whether to use any of the financial
services we offer including:
- who we are and how to contact us;
- the services we provide;
- how we are paid and who pays us;
- how we maintain your personal information; and
- how you can access our complaints handling arrangements.
If you would like further information, please ask us.
About Spriggy
Rivva Pty Ltd (ABN 86 603 542 918) (Spriggy, we, our, us) is the holder of
Australian Financial Services Licence, no 513762.
You can give us instructions by using the contact details set out below. We
are a fully digital company, and we will communicate with you about the
services we provide in digital form
(where possible). By asking us to provide financial services to you (including
by applying for the financial products issued by Indue through the Spriggy
website or app), you agree to receive communications in digital form only.
Contact details
You can contact Spriggy at:
- Email: hello@spriggy.com.au
- Website: www.spriggy.com.au
- Post: via our address listed on the website
Our services
Spriggy is authorized to:
- provide general financial product advice for:
- basic deposit products;
- deposit products other than basic deposit products; and
- non-cash payment products; and
- deal in a financial product by:
- issuing, applying for, acquiring, varying or disposing of non-cash payment products; and
- applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of:
- basic deposit products;
- deposit products other than basic deposit products; and
- non-cash payment products;
to retail and wholesale clients.
Spriggy is responsible for the financial services provided to you under its
AFSL.
As we provide general advice, which isn’t tailored to your personal
circumstances or financial requirements, you should consider whether it’s
appropriate for you and consider obtaining independent financial advice before
making any financial decision.
Product disclosure statements
When we arrange for you to acquire a financial product, you will be given a
Product Disclosure Statement (PDS) issued by the product issuer, which
contains important information regarding the features, benefits, risks and fees
applicable to the financial product.
The PDS and Target Market Determination (TMD) will help you make an informed
decision about the products, so read the relevant PDS, TMD and any other
disclosure documents carefully.
You can download a copy of the PDS and TMD for the Visa Prepaid Card and
Parent Wallet issued by the product issuer from www.spriggy.com.au/terms.
Relationship and associations
Spriggy group
Spriggy is part of the Spriggy group, which includes Spriggy Invest Pty Ltd
(ACN 639 671 926 AR 1283837) (Spriggy Invest) and Spriggy Schools Pty Ltd (ACN
650 445 819) (Spriggy Schools).
Spriggy Invest is the promoter of an investment fund known as Spriggy Invest
ARSN 643 467 270 (Fund). Spriggy Invest is an authorised representative of
Cache Investment Management Pty Ltd ACN 624 306 430 AFSL 514 360 (Cache).
Melbourne Securities Corporation Limited
(ACN 160 326 545, AFSL 428289) (MSC) is the responsible entity of the Fund and
the issuer of units in the Fund. The Fund is managed on behalf of MSC by
Cache.
Spriggy Schools offers the Spriggy Schools product, applying the relief for
non-cash payment facilities provided for in ASIC Corporations (Non-cash
Payment Facilities) Instrument 2016/11.
Product issuers
Spriggy distributes and promotes the Visa Prepaid Card and Parent Wallet
products which are issued by Indue Limited ACN 087 822 464 AFSL 320204
(Indue). Indue is an authorised deposit-taking institution.
Spriggy may distribute or promote other financial products which are issued by
other product issuers from time to time. The details of these issuers will be
set out in the relevant PDS.
How we’re paid
Indue Prepaid Card and Parent Wallet
Spriggy charges an annual fee for its services in connection with the Prepaid Card and Parent Wallet issued by Indue. These fees are set out below:
| Who the fee applies to | Annual Spriggy Membership Fee ($AUD) |
|---|---|
| Parents on the Per Child Pricing Plan | $30 per Child |
| Parents on the Family-based Pricing Plan | $60 per Parent and up to four (4) |
Children 10 per Child for any additional (fifth or more) Children
---|---
Refer to the Spriggy Terms and Conditions available at
www.spriggy.com.au/terms for information in
relation to these fees.
Also, Spriggy is paid fees by Induce for other services it provides to Induce
in connection with the Prepaid Card and Parent Wallet, these are set out
below:
| Fee | Fee ($AUD) |
|---|---|
| Cancellation Fee | A Cancellation Fee of up to $10 in certain circumstances |
where a Parent’s or Additional Parent User’s Parent Wallet is cancelled.
Prepaid Card Replacement Fee| $10 per replacement Prepaid Card (except where a
replacement Prepaid Card is issued upon expiry of a Prepaid Card in accordance
with the Product Terms and Conditions).
Refer to the PDS and Product Terms and Conditions issued by Indue available at
www.spriggy.com.au/terms for information in
relation to these fees.
Indue will pass on a portion of the interest that is earned on the value that
is stored on the Parent Wallet and Prepaid Cards from time to time to Spriggy.
The amount of interest that Spriggy will receive is calculated as X% of the
value stored on the Parent Wallet and Prepaid Cards, where
“X” is equal to the official cash rate determined by the Reserve Bank of
Australia minus 0.25%. Interest is calculated daily.
Other products
From time to time, Spriggy may also receive commissions or fees from other
product issuers for referral, advice or distribution services Spriggy provides
about their products.
Spriggy has a current arrangement with the National Australia Bank Limited
(NAB) to promote NAB products to customers and refer customers to NAB. Spriggy
will receive payment from NAB of $100 for a new to NAB customer who is 18
years of age or older that successfully opens a NAB bank account as a result
of the referral. Spriggy may also receive $160 from NAB for a new to NAB
customer who is under 18 years of age that successfully opens a NAB bank
account as a result of the referral.
Under the “First year Spriggy membership sponsored by NAB” offer, Spriggy will
receive payment of each eligible member’s applicable first year Annual Spriggy
Membership Fees from NAB.
Our representatives
Our staff receive a salary plus superannuation, and may receive bonuses, shares or options in Spriggy and other benefits from time to time.
How we deal with complaints
We want to ensure you have a good experience with us. If you are dissatisfied or have a complaint, please contact us at hello@spriggy.com.au or 1300 361 954.
We’ll acknowledge your complaint within 1 working day and aim to resolve your
complaint within 30 days.
If you’re not satisfied with our response, you can contact the Australian
Financial Complaints Authority (AFCA) (an independent and free dispute
resolution body). Before AFCA can investigate the matter, you must have first
given us the opportunity to review it.
The contact details for AFCA are:
- Australian Financial Complaints Authority
- Telephone: 1800 931 678 (free call)
- Post: GPO Box 3 Melbourne VIC 3001
- Email: info@afca.org.au
- Website: afca.org.au
Compensation arrangements
We maintain professional indemnity insurance in connection with the financial products and services we provide, including any claims in relation to the conduct of our former representatives. This professional indemnity insurance satisfies the requirements of section 912B of the Corporations Act 2001 (Cth).
Privacy
We’re committed to respecting your privacy. The Privacy Act 1988 (Cth)
regulates how we handle your personal information, including how we collect,
disclose and secure it.
In general, we collect your personal information to provide the products and
services you request, and efficiently manage and administer those products and
services. We may also use your information to provide information about other
products and services that we think might interest you and to comply with
legislative and regulatory requirements, prevent fraud, crime or other
activity that may cause harm in relation to our products or services, and help
us run our business.
Your personal information may be provided confidentially to external service
providers, including auditors, taxation advisers, legal advisers and
information technology consultants. It may also be provided to our related
companies to assist us with functions relating to managing your account.
Additionally, your personal information will be disclosed if required by law
to do so. You have the right not to provide us with any personal information.
However, we may not be able to provide the product or services you request.
For more information about how we handle your personal information, how you
can access, correct and update your personal information and how we manage
privacy related complaints, refer to our Privacy Policy available at
www.spriggy.com.au/terms.
If you would like a link to a digital copy, please email us at
hello@spriggy.com.au and we will send you a
copy free of charge.
References
- Home | Australian Financial Complaints Authority (AFCA)
- Spriggy - Pocket Money. Updated.
- Terms and conditions - Spriggy
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