Australia Financial Services Guide
Introduction
This Financial Services Guide (“FSG”) is dated 6 December 2024 and is provided to you by Africhange Australia Pty Ltd (“Africhange Australia”, “we”, “our”, “us”, “Providing Entity”) ACN 654 716 015 to inform you of the financial services provided by us and to comply with our obligations as the holder of Australian Financial Services (“AFS”) Licence number 558201.
This FSG is meant to assist you to decide whether to use our services and to explain:
- Who we are.
- What financial services we provide and the products to which those services relate.
- What our responsibilities are and what type of advice we give.
- How you can instruct us.
- What you can expect to pay for the financial services.
- What remuneration and other benefits may be paid to us, our employees or others.
- What to do if you have a complaint, and how it will be dealt with.
- For what purpose we use your contact data.
- How you can contact us.
This FSG contains only general information about the services we offer. If you still have any questions after reading this FSG, please contact us. Our contact details are listed at the end of this document.
What other disclosure documents and statements will I receive?
Since we are only authorised to provide general financial product advice, we do not provide any personal advice. As a result, we are not required to issue you with a Statement of Advice.
Where we arrange for the issue of a financial product to you, you will receive a Product Disclosure Statement (“PDS”) or other relevant disclosure documents that include information about the product so that you can make an informed decision whether to acquire the product. It would include any relevant terms, significant risks and costs associated with the supply of that financial product.
How you can instruct us and your obligations?
We will accept order instructions via our application, website, telephone, email or other applicable electronic device. You should check and confirm with us that orders sent electronically, have in fact been received by us. You must review any confirmation or statement we send to you immediately upon receipt to ensure its accuracy and report any discrepancies to us.
Who are we and what services are we authorised to provide?
Africhange Australia is the holder of AFS Licence number 558201 with authorisations to provide the following financial services:
Provide general financial product advice for the following classes of financial products:
- Deposit and payment products limited to: Non-cash payment products
- Foreign exchange contracts
Deal in a financial product by issuing, applying for, acquiring, varying or disposing of a financial product in respect of following classes of financial products:
- Deal in a financial product by issuing, applying for, acquiring, varying or disposing of a financial product in respect of following classes of financial products:
Deal in a financial product by applying for, acquiring, varying or disposing a financial product on behalf of another person in respect of the following classes of products:
- Deposit and payment products limited to: Non-cash payment products
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to retail and wholesale clients.
Africhange Australia operates a multi-currency digital wallet to enhance its service offering by which clients may remit funds to overseas jurisdictions. Funds held in a digital wallet represent a more efficient, economical and more secure method of clients meeting their settlement obligations. To use the digital wallet, clients will need to deposit their funds with a participating Authorised Deposit-Taking Institution, and an external service provider will provide the payments infrastructure that will link the funds held with our platform.
What are our responsibilities and what type of advice do we give?
Africhange Australia is only authorised to provide general advice. As a result, you should be aware that:
- The advice has been prepared without taking account of your objectives, financial situation or needs.
- Because of that, you should, before acting on the advice, consider the appropriateness of the advice, having regard to your objectives, financial situation and needs.
- If the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should obtain a PDS or an information statement of the class of CGS depository interests.
The costs, remuneration and other benefits that may be received by us, or our employees and others
The information in this section is subject to change and does not include information in relation to taxes or duties that you may be required to pay in relation to an investment. Unless otherwise states, all fees, charges, commissions and benefits disclosed in the FSG are exclusive of the Goods and Services Tax (“GST”). All fees, commission and charges are subject to change.
Africhange Australia will derive revenue when you use our facility – for example, sending money to an external account or converting between currencies. This comprises a foreign exchange fee based on the original amount remitted and transaction fees. The fees will vary depending on the size, the currencies involved, the payment processes and the methods chosen for the transaction. Please refer to our website for further details in regard to each of our fees.
To assist you in making an informed decision, we will discuss with you and agree on any fees payable before providing a service to which fees apply. We are required to fully disclose all fees and charges, so if you are in doubt, please ask us to explain.
Our employees, directors, associates and any other relevant persons, may in turn be remunerated on a commission basis, in addition to their salary, for the services provided to you.
Africhange Australia may have contractual relationships with related bodies corporate, including any associates of the above. All such dealings, where applicable, are conducted on an arm’s length basis.
Details of Associations or Relationships we have with product issuers or that may influence us when providing services to you
Subject to disclosures in any PDS or other documents we provide to you, we do not have any relationships or associations which might influence us in providing you with our services.
Africhange Australia may arrange for you to be supplied with financial services and products issued by non-related product issuers. Africhange Australia may receive a fee, commission payment, or other form of remuneration, or other benefits from these non-related issuers as a result of you using one of their products or services. These relationships in no way influence the provision of financial services by Africhange Australia to you.
If you have a complaint, how it will be dealt with?
If you wish to make a complaint, the Compliance Officer can be contacted on 0483 901 392 or at [email protected].
Africhange Australia has a formalised client complaint resolution procedure. All complaints are reviewed and investigated by our Compliance Officer. If you make a complaint, our first response will be to contact you to discuss the complaint and to register a formal record of such complaint. We will try to resolve your complaint quickly and fairly.
If, despite our best efforts, you believe your complaint has not been satisfactorily dealt with, we offer our clients to use an independent industry arbiter, namely, the Australian Financial Complaints Authority (“AFCA”). Here are the contact details for AFCA:
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Toll Free: 1800 931 678
Website: www.afca.org.au
Email: [email protected]
The AFCA website permits you to register or lodge a dispute online.
Professional Indemnity Insurance
Our compensation arrangements comply with the legal requirements set out in Section 912B of the Corporations Act 2001 (Cth) and ASIC Regulatory Guide 126. As required, we maintain professional indemnity insurance coverage in relation to the financial products and services we provide. Our coverage includes any claims in relation to the conduct of present and former representatives and/or employees.
For what purpose do we use your contact data
Africhange Australia is committed to protecting your Personal Information in accordance with the Australian Privacy Principles pursuant to the Privacy Act 1988 (Cth). Our Privacy Policy contains up-to-date information about our privacy practices and procedures. A copy of this policy can be accessed on our website at www.africhange.com, or alternatively, a copy can be sent to you upon written request to our Privacy Officer at the contact details below.
Africhange Australia will not disclose your Personal Information without your consent, except as authorised under its client agreement, its Terms and Conditions, and/or as authorised or required under any Australian law or regulation.
How you can contact us?
Telephone: 0483 901 392
Web: www.africhange.com
Email: [email protected]
In person: Level 13, 50 Cavill Avenue
Surfers Paradise Queensland 4217