Financial Services Guide

For the Grineo Debit Card

Effective March 2024  

Grineo Version 1.0 2024

Issued by Hay Limited ABN 34 629 037 403
Australian Financial Services Licence No. 515459

1. About this guide

This Financial Services Guide (FSG) is prepared by Hay Limited ABN 34 629 037 403 Australian Financial Services Licence No. 515459 (Hay). Under its Australian Financial Services Licence,
Hay is authorised to provide financial services including issuing non-cash payment facilities such
as the Grineo Debit Card

This FSG is distributed by Grineo Pty Ltd (Grineo) (a Corporate Authorised Representative 001293961 of Hay Limited) which has been authorised by Hay to market, promote, and distribute Hay Limited non-cash payment products.

This FSG is an important document, which provides information about the financial services offered by Hay and is designed to assist you in deciding whether to use the services offered in this FSG.

Hay is the issuer of the Grineo Debit Card whereby the customer can make payments globally wherever Visa debit cards are accepted.

The Grineo Debit Card is available on application via the Grineo App and if approved, the customer will receive a Grineo Debit Card that they can utilise for purchases at merchant locations (both in store and online) as well as ATM withdrawals. The available funds to support this Grineo Debit Card are accessed via your Grineo managed Stablecoin wallet within the Grineo App. You can learn more about Grineo and the wallets available by visiting grineopay.com.

When you use your Grineo Debit Card to make a purchase or withdraw cash from an ATM, Grineo will first assess the value of your Stablecoins in your Grineo App, convert them from US dollars into an available balance in Australian dollars. This conversion will be at a rate determined and applied by Grineo. You must have sufficient available balance (including any fees that Grineo may charge for the conversion – for fees charged by Grineo, please refer to https://grineopay.com/)  so to make your purchase or ATM withdrawal.

It is important for you to know that Hay is not a bank and Grineo Debit Card holders cannot otherwise deposit funds into the Grineo Debit Card or withdraw.  

2. Important information

This FSG is designed to assist you make an informed decision about whether to use our financial services. It contains important information about:

  • the financial services we provide and documents you may receive from us;
  • fees and other benefits we may receive for providing the financial services to you; and
  • how you can make a complaint to us and how we will deal with your complaint.

After reading this FSG, you will know:

  1. Who we are and how to contact us;
  2. What financial services can be provided to you and how these services will be provided to you;
  3. How we (and any other relevant persons) may be remunerated;
  4. Whether any relevant associations or relationships exist that may influence our general advice;
  5. How we maintain your personal information; and
  6. 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 person’s particular needs or objectives or whether our services are suitable for you.

If you need any more information than is contained in this document, please contact us. You have the right to ask us about our services, fees, and charges, and what you can do if you have a complaint about our services.

3. Documents you might receive

This document is made available before you apply for our products and accessible via  https://grineopay.com and the Grineo App to help you understand who and how the Grineo Debit Card service is being provided. It is also accessible via the Grineo App once you have become a customer.

You will also be provided with our Product Disclosure Statement (PDS) before you apply for our product(s). The PDS will provide you with information about the product, its features, benefits, risks, costs, and other relevant information, available at Product Disclosure Statement.

The use of the Grineo Debit Card  is governed by Terms and Conditions which are available at https://grineopay.com and the Grineo App; and the Privacy Policy for this financial service is available at https://www.hellohay.co/privacy.

You should read the PDS, Terms and Conditions and Privacy Policy before you decide to take our product(s).

4. About the issuer Hay Limited

Hay is a holder of an Australian Financial Services Licence (AFSL) No 515459. Under its AFSL, Hay is authorised to issue and provide general advice in relation to non-cash payment products.

5. About the authorised distributor, Grineo

Hay has provided Grineo  an authorisation to act on its behalf for specific activities, meaning it can:

  1. Arrange for the issue of the Grineo Debit Card by Hay to you;
  2. Provide factual product information in relation to the Grineo Debit Card; and
  3. Publish or issue certain promotional material in relation to the Grineo Debit Card.

Grineo cannot provide you with personal advice about the non-cash payment product offered by Hay. This means neither Hay nor Grineo have taken into consideration your objectives, financial situation or needs.

You will need to decide whether any factual product information given by Grineo in its promotional material is suitable for you, or to obtain personal advice from an appropriately qualified and authorised person.

Please be aware that Hay is not responsible where Grineo provides any services to you that are outside of the authorisation we have provided. If you have questions regarding the information or materials you receive, you can contact Grineo by visiting https://grineopay.com . If Grineo are unable to provide a suitable response, Grineo may refer you to Hay.

6. Can I provide Grineo with instructions?

You may provide Grineo with specific instructions by email or other means, such as the Grineo Pay App.

You can contact Grineo using the channels below  :

Email:             support@grineopay.com
Website:           https://grineopay.com

7. Are there any fees, commissions, or other benefits received?

Any fees relevant to the Grineo Debit Card will be set out in the PDS for each product Hay issues, and that Grineo distributes, which can be found at Product Disclosure Statement

Description Hay Limited (Issuer) Grineo (Distributor)
Commission No No
Other benefits No No

8. Associations and relationships

Hay and Grineo are not related companies and have no association or relationship with one another other than for the purpose of issuing and distributing the financial services set out in this FSG (which includes a commercial arrangement for this purpose).

Neither Hay nor Grineo are aware of situations or arrangements that would give rise to a potential or actual conflict of interest that could influence the issue, operation, or distribution of the financial services.

9. Disputing a transaction

We encourage you to review your transaction history regularly. If your Grineo Debit Card is used for Unauthorised Transactions, we will seek to reverse the transaction if we can under the Visa Scheme Rules (Chargeback). Your ability to dispute a transaction or reverse an Unauthorised Transaction may be lost if you do not notify us immediately (see Chargeback and Disputed Transaction in section 2 of the Grineo Debit Card Terms and Conditions). It is your responsibility to regularly review your online transaction history to identify Unauthorised Transactions. Under these Terms and Conditions, we may not be responsible for any loss to you if you do not dispute an Unauthorised Transaction within 45 days of the transaction date.

10. Feedback and resolving complaints

When you provide feedback, Hay and Grineo have the opportunity to improve services to you. If you have a query or complaint relating to the Grineo Debit Card provided to you, you should initially direct the query to Grineo via:

Email:              support@grineopay.com
Website:           https://grineopay.com

Please provide a full explanation of your feedback or complaint. Grineo may request further details from you.

Either Grineo or Hay will undertake the following:

  • Keep a record of your complaint;
  • Acknowledge your complaint within 1 business day;
  • Respond within 30 calendar days;
  • If we cannot complete our investigation within 30 calendar days, we will let you know why.

If you are unable to resolve your issue with Grineo directly, you can escalate your enquiry to Hay via complaints@hellohay.co or by phone 1800 080 081. Hay may check with you to make sure you are satisfied with how your complaint was handled.

If Hay are unable to resolve the matter to your satisfaction, you may refer the compliant to the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers. It’s important you raise your concerns with us first before going to AFCA, as AFCA will generally encourage this before they will investigate. The contact details for AFCA are:

Mail:                 GPO Box 3, Melbourne VIC 3001

Phone:             1800 931 678 (free call)

Email:               info@afca.org.au

Website:           www.afca.org.au