Terms & Policies

Stables Global General Terms of Use

Last updated September 2023

1. Acceptance of Terms and who we are

Welcome to Stables. Thank you for choosing us as your platform of choice!

These general terms of use (“Terms”) constitute a legally binding agreement between you and Stables.

The “Stables Group” is powered by a number of companies throughout the world.

These companies include:
Tiiik Pty Ltd (ACN 639 448 490) a company incorporated in Australia and also “Stables Europe” (KRS #0001027447), incorporated in Warsaw, Poland, a member of the European Union (EU), the Stables Group is collectively referred to as “Stables”, “Tiiik”, “we”, “us” and “our” in these Terms of Use, our App and on our websites.

Stables operate certain websites including this website, mobile applications and other applications, collectively referred to as the “Stables Platform” or “Platform”.
The Stables Platform provides access to the services offered by Stables and/or its subsidiaries and affiliates. These websites will be updated to reflect the different product offerings available to users.

Tiiik Pty Ltd is a Digital Currency Exchange provider ("DCE provider") registered with the Australian Transaction Reports and Analysis Centre (“AUSTRAC”) - DCE100780083-001 and remittance provider IND100780083-001.

Stables Europe has a Virtual Asset Service Provider (”VASP”) license.

Stables is a technology company, not a bank or fund manager or credit provider and your deposits are not guaranteed by the Australian Federal Government Financial Claims Scheme (”FCS”) or any other scheme.

Stables does not hold an Australian Financial Services Licence (”AFSL”) but leverages relationships with Third Party Providers where required.

These Terms apply to any person that registers and / or holds an Account with Stables through the App (the “App”).

These Terms of Use govern your use of the Platform and the exchange, access and loan services provided to you through the Platform (“Services”) in relation to coins, tokens, crypto, digital currency, or digital assets of the like (collectively, called (“digital assets” or “cryptocurrency”).

By accessing or using the Platform / App you agree to be bound by these Terms. You should immediately cease using the Platform / App if you do not agree to these Terms.

By clicking "I Agree" or downloading our App, registering and creating an account or accessing or using any part of the Platform or App or Services, you agree to be bound by the Terms and our Privacy Policy.

Please read these Terms and the Risk Warnings / Disclosures carefully and obtain appropriate independent legal, financial and taxation advice before using the Platform or App or Services.

Note: Australian customers wishing to obtain access to the Stables card product, will also need to agree to the Card Terms & Conditions, Product Disclosure Statement (PDS) and Financial Services Guide (FSG).

2. Disclaimer

Information contained in the App, Platform and on the website is general in nature as it has been prepared without taking into account your personal objectives, financial situation or needs.

You should carefully read and consider these Terms, the Risk Warnings / Disclosures and information available on the website and App, and obtain appropriate independent financial, taxation and legal advice, before registering an account or making a decision based on information contained on the website and the Platform / App.

3. Amendment of terms

We may amend the Terms from time to time. We will provide you with reasonable notice of any amendments to the Terms that we consider likely to materially affect your rights and obligations. Such notice will be sent by email or in the Platform / App to the address associated with your Account (see Section 14, Electronic Communications). If you are not happy with any amendments or changes to our Terms, you can withdraw and leave at any time subject to these Terms (see Section 12, Withdrawal).

4. Our products and services

4.1. You can open and maintain a Stables account through the App (“Account”).

Australia:
For Australian customers, our App allows you to deposit Australian Dollars (“AUD”) into your Account via an external third party relationship with an ADI (“Authorised Deposit-taking Institution'') and Stablecoins, such as USDC (or other agreed digital asset) directly to the Platform / App or via one of our Third Party Providers.
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4.2. You acknowledge and agree that:
For Australian customers, once AUD funds are deposited into your Account, we or one of our Third Party Service Providers, will convert the funds received into Stablecoins, such as USDC or other coins of our choosing.

You can withdraw the available balance in your Account, in accordance with the Terms (see Section 12, Withdrawal).

4.3. You can also Deposit Stablecoins (or other agreed digital assets) directly to Stables via the Platform / App. Further instructions are provided on the website and Platform / App.

4.4 Stables may withdraw or amend this product at its sole discretion.

4.5 Stables also intends to offer further payment and spend functionality in the future and these Terms will be updated to reflect that closer to the release of this feature.

Other regions:
4.6 Stables is enabling other stablecoins and fiat currencies to be deposited, withdrawn and sent to customers in countries all over the world.

Stables will use a number of external Third Party Providers to help deliver our solutions and further information can be found in our App and on our website.

5. Eligibility

5.1. In order to open an Account, you must be:
(a) 18 years of age or over and have full capacity to accept the Terms and enter any transaction available through the website / Platform / App;
(b) hold an Australian bank account (if depositing AUD); and
(c) not currently already be registered on the Platform / App, except where you are acting as an (“Authorised Representative”).

Stables will review this from time to time and update its website accordingly.

Stables is not obliged to accept all account applications and has sole and absolute discretion to accept or reject applications to open accounts. Stables has no responsibility or liability towards any applicant unless and until Stables provides written confirmation that an account has been successfully opened for such an application.

If you are a user outside of Australia and gain access to the Platform / App, it is your responsibility to make sure your use of the Platform / App does not contravene any laws or regulations in the jurisdiction where you reside or are utilising the Platform / App from.

6. Your Obligations

6.1. By opening an Account, you accept and agree that you are solely responsible for understanding and complying with all laws, rules, regulations and requirements of the jurisdiction in which you live or that may be applicable to your use of your Account, including but not limited to, those related to export or import activity, taxes or foreign currency transactions. Depending on your country of residence, you may not be able to use all the functions of the Platform / App. You currently can only transfer AUD funds into your account from an Australian bank account.

6.2. You also agree and accept that you will not:
(a) open, or attempt to open, a Stables Account under any name except your own;
(b) use your Account to carry out transactions on behalf of a third party, whether related or otherwise;
(c) have more than one Account;
(d) use or access any Account other than your own;
(e) assist any other person in obtaining unauthorised access to any Account;
(f) use your Account for or in relation to any illegal activity, any Restricted Activities (see Section 7, Restricted Activities), in violation of any laws, statutes, ordinances or regulations.

6.3. By opening a Stables Account you accept and agree that Stables may, in its sole discretion, reasonably terminate, suspend or restrict your Account if we reasonably suspect that you may be using the Account in a manner that is inconsistent with the Terms.

6.4. You may also terminate the Terms applicable to your Account by deactivating your Account at any time. If these Terms are terminated or suspended for any reason:
(a) you agree to immediately terminate and cease use of the Platform / App and all Services;
(b) we will endeavour to delete your information and account data stored on our servers; and
(c) we will not be liable to you or any third party for compensation, reimbursement, or damages for any termination or suspension of the Platform / App services, or for deletion of your information or Account data.

6.5 You have an obligation to check the recipient details are correct when using the Send feature and will be responsible for any errors on your part.

7. Restricted activities

7.1. In connection with your use of the Platform / App and services and by opening an Account, you confirm that you will not participate in Restricted Activities.

7.2. The following are considered restricted activities in connection to the Platform / App and Services (“Restricted Activities”):
(a) Violation (or assist another in violation) of any applicable law, statute, ordinance or regulation;
(b) Facilitation, support, or undertaking in criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking;
(c) Providing false, misleading or inaccurate information;
(d) Participating in abusive activity, including but not limited to:
i) imposing an unreasonable or disproportionately large load on our infrastructure, or otherwise taking any action that may negatively affect the performance of the Platform / App, or our reputation;
ii) attempting to gain unauthorised access to any Account;
iii) transmitting or uploading any material to the website or Platform / App that contains viruses, Trojan horses, worms, or any other harmful programmes; oriv) Transferring your Account access or rights to your Account to a third-party, unless required by law or with our prior written consent.
(e) Decompile, disassemble or reverse engineer the Platform / App or website or any of its components or source code, or modify, tamper, create derivative works, or otherwise incorporate the Platform / App or website in other programs or platforms without our prior written consent.
(f) Depositing, withdrawing or sending funds that have been obtained by illegal, money laundering or terrorism financing related activities.

8. Third Party Service Providers

8.1 Stables has arrangements in place with third party service providers (“Third Party Service Providers”) in order to provide the services and features available to you through your Account and the Platform / App.

8.2 Stables relies in whole or partly, on the continued development and support of the product and services provided by Third Party Service Providers. Access to the features and functions of the Platform / App may be made conditional upon you consenting, agreeing and meeting the terms and conditions of such Third Party Service Providers or others and those terms shall govern your use of such services they provide. These may include but are not limited to third party services providers who assist us with our identity verification procedures (see Section 15, Identity Verification).

8.3 There is no assurance or guarantee that the Third Party Service Providers will maintain their support of their products and services, all of which may have a material adverse effect on the features and functions available in the Platform / App.

8.4 The Platform / App may contain links to third party vendors, websites, resources and services (“Third Party Material”) not controlled by us. You acknowledge and agree that Stables is not responsible or liable for (i) availability or accuracy of such Third Party Material, or (ii) the content, products or services on or available from such Third Party Material. You acknowledge and hold sole responsibility for and assume all risk arising from your use of any such Third Party Material.

9. Deposits

9.1. In order to deposit AUD funds into your Account, the funds must be deposited from an Australian bank account in your name. Deposits from banks that do not provide sufficient details (eg: account owner’s name) in the payment data will either be held by us until you can prove the bank account belongs to you, or funds will be refunded to the BSB and account number which we receive from the initiating bank in the payment file. If your bank sends your deposit from an omnibus/generic BSB and account number, your funds may not be returned directly back into your account. We strongly suggest sending funds from a bank which is part of the New Payments Platform (NPP).

9.2 Stables may also support deposits via alternative methods such as wire transfer or virtual currency transfer in its sole discretion.

9.3. You acknowledge, and expressly agree that once you deposit funds into your Account, your deposited funds will be exchanged from AUD to Stablecoins. In order to perform this conversion of currency (or exchange), fees may be charged by our Third Party Service Providers and we make take a spread on this exchange. You acknowledge and expressly agree that we will deduct any equivalent fees charged by the Third Party Service Providers or us from your Account balance.

9.4. Similarly, fees may also be charged when you withdraw any available funds from your Account as a result of converting Stablecoins to AUD.

9.5. You acknowledge and agree that Stables will convert your Deposited Funds on a standalone basis and the associated fees and exchange rates are specific to your Deposited Funds.

9.6. You can also deposit stablecoins direct to Stables via the Platform / App. Further information of how it works is available on the website.

9.7 By proceeding with a deposit, you are confirming that the source of funds for the transaction have not been obtained by any illegal, money laundering or terrorist financing related activities. If you cannot confirm this, please do not proceed with using our product and services.

10. Interest

No interest or yield will be paid on your balance.

11. Referral Rules

11.1 Referral Rules will be changed from time to time and different promotions will be offered, these will be communicated through the Platform, App and website.

12. Withdrawal and Send

12.1 We will process withdrawals and send requests out of your available funds from your Account in accordance with your instructions and these Terms. You are solely responsible for ensuring that any withdrawal or send instructions provided to Stables are complete and correct and you accept and agree that under no circumstances will we be under any obligation to reverse or amend any withdrawal or send request.

12.2 Where you have deposited AUD funds into your Account from an Australian bank account in your name, you may only generally withdraw the available funds from your Account to the same Australian bank account in your name. The available funds that you can withdraw at any time are the principal amount held in your Account.

12.3 When you complete a withdrawal of available funds from your Account to your bank account, you are exchanging your Stablecoins for AUD through our Third Party Service Providers. Please refer to the website, App and Platform to learn more about the product features.

12.4 Withdrawals to the bank account of any third party are expressly prohibited. You agree not to make, or attempt to make, any deposits or withdrawal of funds from your Account to the bank account of a third party and accept that any such deposit or withdrawal may be refused and/or result in the restriction, suspension or termination of your Account.

12.5 You may only withdraw funds that are available in your Account.

12.6 Stablecoin withdrawals occurs via the Platform or App and Stablecoins can only be withdrawn to a wallet belonging to the user.

12.7 User withdrawal requests will be processed as quickly as possible on a best endeavours basis but these timings may be impacted by external Third Party Providers and market conditions.

12.8 Send requests must be completed in the Stables App. Further information on “Send” is available in our App and on our website.
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12.9 By proceeding with a withdrawal or Send request, you are confirming that the source of funds for the transaction have not been obtained by any illegal, money laundering or terrorist financing related activities. If you cannot confirm this, please do not proceed with using our product and services.

13. Privacy

13.1 Your privacy is important to us. We collect, share and use your customer information in accordance with our Privacy Policy.

‍13.2 Stables is required to retain certain information and documentation obtained as part of the Identity Verification and enhanced due diligence (“EDD”) procedures. These requirements apply even when you have terminated your relationship with us.

13.3 We reserve the right to keep such information and documentation for the required period and you accept and agree that information and documentation you provide to us may be retained by us, including following the closure of your Account, this is to comply with AML / CTF requirements.

14. Electronic communications

14.1 You accept and agree that:
(a) any communications, agreements, notices and/or any other documents (together “Communications”) relating to your Account or your use of Platform / App and services will be provided to you electronically by posting them on the website, emailing them to the email address you have provided to us, or through any other form of electronic communication. You consent to receiving all Communications from us electronically;
(b) you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address;
(c) you assume full responsibility for providing us with a valid and accessible email address to which any Communications may be sent, and for ensuring that email address and any other contact information is kept up to date. Any Communication sent to the email address you have provided to us will be deemed to have been received by you. You can amend your contact information by contacting the Stables team.

14.2 You may at any time withdraw your consent to receiving Communications electronically by contacting the Stables team. You acknowledge that failure to give, or withdrawing, consent to receiving Communications electronically puts the security of your Account at risk (see Section 16, Account Security) and that Stables reserves the right to close your Account in the event you fail to give, or withdraw, your consent to the receipt of Communications electronically.

15. Identity verification

15.1 In order to open an Account, your identity must be verified in order to deposit AUD into your Account. Stables implements and maintains high standards of Know Your Customer (“KYC”) processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing. Stables utilises world-class Third Party Service Providers to perform these checks.

15.2 To ensure we meet the requirements in the Anti-Money Laundering and Counter- Terrorism Financing Act 2006 (Cth), and any related rules and regulations (collectively, the “AML Laws”), our customers are required to provide certain personal details and documents when opening a Stables Account (“Identity Verification”).

15.3 You accept and agree that we may also perform EDD procedures in relation to your Account.

15.4 Stables reserves the right to, at any time:(a) restrict or suspend your Account when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/or EDD; or(b) terminate your Account if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or EDD.

15.5 You accept and agree that there may be delays in accessing your Account, or in carrying out transactions through your Account, while we undertake any Identity Verification and/or EDD procedures.

16. Account security

16.1 Security and customer safety is always our number one concern, however, you will remain responsible for, including but not limited to:
(a) maintaining security and control over the email mailbox, phone number and phone associated with your Account, this includes ensuring you lock your phone, have a password or biometric authentication over access controls to your phone,
(b) maintaining adequate security and control over your Account sign-in details, including but not limited to any passwords (Account passwords, or passwords which grant access to your phone) any other codes associated with your Account; and
(c) keeping your contact details up to date so that you can receive alerts we may send to you.Failure to do so may result in adverse results like unauthorised access to your Stables Account and potential theft or money laundering.

16.2 We shall have no liability to you for or in connection with any unauthorised access to your Account, where such unauthorised access was due to no fault of us, and/or any failure by you to act upon any notice or alert that we send to you. The security of your Account may be compromised, or interruption caused to it, by phishing, spoofing or other attack, computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment. We strongly recommend being vigilant of potential scams and frauds when it comes to investing.

16.3 Care should be taken when reviewing communication which seems to be sent by us as there is always a possibility of a phishing attempt. We will always send emails from our official domain.

16.4 To the maximum extent permitted by applicable law, you accept and agree that you have full responsibility for all activity that occurs in or through your Account and accept all risks of any unauthorised or authorised access to your Account.

17. Risks Warning & Indemnity

17.1 Your Account is not a bank / savings account nor a traditional bank savings account, and it is not covered by insurance against losses.

17.2 Although the digital assets which make up your account balance are USDC or other cryptocurrency, there is the risk that the digital assets lose their underlying peg which in turn may result in increases or decreases in the value of your Account balance.

17.3 By utilising your Account you indemnify Stables, its operating entities or any other affiliates (including their respective directors, members, employees or agents) (the ‘Indemnified Parties'), to the maximum extent permitted by law, against any loss, liability action, cost, claim, damages, proceedings or expense that the Indemnified Parties may suffer, directly or indirectly, in connection with your Account and you accordingly hereby waive any claim that you may have against the Indemnified Parties arising thereof (including in respect of any claim for direct, indirect, consequential or pecuniary damages).

17.4 You agree to indemnify, defend and hold Stables and its agents, contractors, services providers and affiliates (“Indemnified Parties” or “Indemnified Party”), harmless against all liabilities, claims, demands, damages, losses, fines, judgments, disputes, costs, charges and expenses (including, without limitation, reasonable attorneys' fees incurred in connection with such claims) made by you or others resulting from, arising out of or related to (i) any breach or alleged breach of these Terms, or any related policies such as our Privacy Policy and Complaints Policy, (ii) the loss of the Deposited Funds into your Account (whether in whole or in part) (iii) your violation of any law, regulation, order or the rights of a third party, (iv) any unauthorised access or breaches of security in connection with your Account (v).

Stables or any other Indemnified Parties’ reliance on Account information, transaction instructions, or other information and data furnished by you or (vi) information and data resulting from activities that we or any other Indemnified Party undertakes at your request, or at the request of Stables or any other Indemnified Party believes in good faith to be your authorized agent, in providing the Platform / App and services.

17.5 Before using your Account, you should ensure that you understand the risks associated with digital assets and the digital asset market. There may be additional risks not identified in these Terms.

18. US Dollar Coin (USDC)

18.1 Any reference to USDC or US$ in the Terms, App and Website refers to US Dollar Coin which is, a digital asset (stablecoin) governed by Circle, a membership-based consortium founded by Circle Internet Financial Limited (“Circle”) that sets technical, policy and financial standards for USD. The USD is fully backed by cash and equivalents and short-duration U.S. Treasuries, so that it is always redeemable 1:1 for U.S. dollars.

18.2 The underlying balance in your Account is USDC or as advised. By depositing AUD and thereby acquiring USDC, you acknowledge that you will become the owner of the balance held in your Account and that, accordingly, you agree to abide by any rules or technical standards set by Circle and/or the applicable USD issuer, including (without limitation) the Circle USDC Agreement (located at support.usdc.circle.com).

18.3 For the avoidance of doubt, Stables is not the issuer of USDC, does not hold US Dollars on reserve for USDC holders, and has no obligation to repurchase or redeem your USDC for any fiat currency. Any redemption of USDC should be done against the issuer directly. We reserve the right to change, suspend, or discontinue any service in relation to USDC at any time, without notice and without attracting any liability thereof. We may also opt to use another US Dollar stablecoin in the future.

18.4 USDC are held with a US financial institution and are audited monthly.

19. Restriction, suspension and termination

19.1 We reserve the right to restrict, suspend or terminate your Account where we reasonably suspect:
a) your Account is subject to an operational or other error, in which case we may be required to suspend access to your Account until such time as the error is rectified;
b) your Account has been or is being used in relation to any unlawful, fraudulent or Restricted Activities, or in breach of these Terms;
c) you or your Account is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime;
d) you are taking any action that we consider to be a circumvention of our controls, including but not limited to opening multiple accounts;
e) we reasonably suspect your involvement in any attempt to gain unauthorised access to any Account;
f) your Account is or appears to be the subject of any legal, regulatory or government process and/or we, in our sole discretion, consider there to be a heightened risk of legal or regulatory non-compliance associated with your Account;
g) we are compelled to do so by a prima facie valid subpoena, court order, or other binding order of a government or regulatory authority; or
h) we reasonably conclude that you, or any person or geography with whom you transact, are / is the subject of any governmental sanctions.
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We will make all reasonable efforts to provide you with notice of any decision to restrict, suspend or terminate your Account, unless we are prevented from doing so by any legal or regulatory process or requirement, or where doing so may compromise our security and/or risk management procedures.

You accept and agree that Stables is under no obligation to disclose to you the fact of or reason for any decision to restrict, suspend or terminate your Account, and shall have no liability to you in connection with the restriction, suspension or termination of your Account.

Subject to these Terms, we may reasonably terminate or suspend your Account or your access to any Stables service, by giving reasonable notice to you. We may add or remove, suspend, stop, delete, discontinue or impose conditions on Platform / App or services or any feature or aspect of the Stables Service. We will take reasonable steps to notify you of termination or these other types of service changes.

Where we elect to terminate your Account in accordance with the above, we shall (except where legally obligated not to) return your available balance on your Account.

20. Dispute resolution

If you wish to raise a dispute or submit a complaint to us, please follow the instructions in our Complaints Policy.

21. Account types

There are three types of account that can be registered on the Platform, being personal, business and self managed superannuation fund (SMSF) accounts.

Individual accounts are registered in the name of one natural person who is, and will continue to be, the only person authorised to take any action in the account. By opening an individual account, you represent and warrant that you are and will at all times continue to be the sole beneficial owner of the account and user of all Services.

Business, corporate entity and other associated entity accounts, e.g. Trusts are owned by a company, association, partnership, government body or other legally recognised and/or incorporated group (interchangeably defined as an Entity), holding an account on the Platform in any capacity other than an individual capacity.

SMSF accounts are owned by the individual or Entity that is the trustee of the SMSF.

An Entity can apply to open an account through any natural person(s) who is duly authorised by the Entity to do so (Authorised Representative). Authorised Representatives represent, warrant and agree, on behalf of the relevant Entity, as well as on their own behalf, that the Authorised Representative:
a) is fully authorised to bind the Entity and execute all documents or do all things necessary to otherwise complete our requirements in the Authorised Representative’s stated capacity;
b) has provided us all documents or other information necessary to demonstrate and verify that authority; and
c) will provide other documents and complete other requirements as we may request from time to time.
d) We may refuse to recognise any such authorisation in relation to a business or SMSF account if, in our sole and absolute discretion, it appears to be incomplete or improperly executed.
e) By opening a business or SMSF account, the Authorised Representative represents and warrants on behalf of the Entity that the Entity is, and shall at all times continue to be, the sole beneficial owner of the account and user of all Services provided by us and that the ultimate beneficial owners of all assets belonging to the Entity are as represented during the establishment of the account.
f) We may refuse to recognise any such authorisation in relation to a business or SMSF account if, in our sole and absolute discretion, it appears to be incomplete or improperly executed.
g) By opening a business or SMSF account, the Authorised Representative represents and warrants on behalf of the Entity that the Entity is, and shall at all times continue to be, the sole beneficial owner of the account and user of all Services provided by us and that the ultimate beneficial owners of all assets belonging to the Entity are as represented during the establishment of the account.

22. Important Statements

22.1 Stables is not a bank and does not hold an AFSL. Stables is a technology company and does not have an Australian Financial Services Licence (AFSL) but it does leverage licences held by Third Party Providers.

23. General Terms

23.1 Entire Agreement
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These Terms, together with the Privacy Policy, Complaint Policy and any other terms and conditions or policies agreed to by you during the life of your Account, constitutes the entire agreement between Stables and you regarding the Platform / App and services and replaces all prior understandings, communications and agreements, oral or written, regarding its subject matter.

23.2 Severability
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If any court of law, having the jurisdiction, rules that any part of these Terms is invalid, that section will be removed without affecting the remainder of the Terms. The remaining terms will be valid and enforceable.

23.3 Assignment
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These terms, and any rights and licenses granted hereunder, may not be transferred or assigned by you and any attempted transfer or assignment will be null and void.

23.4 Survival
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All provisions of these Terms that by their nature extend beyond the expiry or termination of these Terms, including but not limited to, sections relating to the suspension or termination of your Account, use of the website, disputes with Stables and general provisions, shall survive the termination of these Terms.
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23.5 Headings
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Section headings in these Terms are for convenience only, and shall not govern the meaning or interpretation of any provision of these Terms.

23.6 Change of Control

In the event that Stables is acquired by or merged with another entity, we reserve the right, in any of these circumstances, to transfer or assign your Account and the information we have collected from you as part of such merger, acquisition, sale, or other change of control.

23.7 Force Majeure
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Stables shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labour dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions of these Terms.

23.8 Taxes
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You are solely responsible for determining and paying any income, sales or capital gains taxes to the appropriate tax authorities in connection with any of your activities on the Platform / App, including, without limitation.

23.9 Governing Law
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This agreement shall be governed by and construed in accordance with the laws of New South Wales, Australia. You and we agree to submit all disputes, claims or controversies (including non-contractual Disputes, claims or controversies) arising out of or in connection with these Terms, or the breach, termination, enforcement or interpretation thereof, to the exclusive jurisdiction of the courts of New South Wales, Australia.

24. Risk associated with using the Platform/ App

24.1 General
This section sets out some of the risks involved in connection with digital assets / cryptocurrency and using the Services. However, this section does not constitute an exhaustive list of such risks and as such, you should carefully consider whether using our Services is suitable for you in light of your circumstances. You should also read the Tiiik Risk Warnings / Disclosures

24.2 Legal status
a) The legal status of digital assets / cryptocurrency (including cryptographic coins, tokens and digital assets) remains uncertain in many countries and jurisdictions around the world. Such digital assets / cryptocurrency may be legally prohibited in certain countries or jurisdictions or be subject to specific restrictions and limitations with which you are solely responsible for complying at your own risk and expense. We take no position on the legal status of any digital asset / cryptocurrency.

b) It is your responsibility to undertake your own investigations and enquiries and satisfy yourself of the legal status of the digital asset / cryptocurrency (particularly in Australia). You acknowledge and agree that you use digital asset / cryptocurrency through the Services at your own risk.

24.3 Risks of trading and holding cryptocurrency
a) Historically, the value of digital assets / cryptocurrency has been highly volatile and there is a risk that they could have little to no value in the future. The trading or holding of digital assets / cryptocurrency involves significant risks and the losses can be substantial. It may be difficult to value digital assets / cryptocurrency accurately and reliably given the nature of their trading and difficulty in identifying fundamentals. You should carefully consider and assess whether trading or holding digital assets / cryptocurrency or using cryptocurrency-adjacent services is suitable for you depending upon your financial circumstances and tolerance to risk.

b) Due to the significant risks of trading digital assets / cryptocurrency as well as the impact of technology and the international market, Stables cannot warrant or guarantee that particular digital assets / cryptocurrency will be available as part of the Services. Stables reserves the right to stop offering trades in relation to particular digital assets / cryptocurrency as part of the Services. We will use our reasonable endeavours to notify you if we cease to support trading a particular digital asset / cryptocurrency.

24.4 Cyber risks, delivery and custody
a) Stables is not responsible or liable for any fiat currency sent to an incorrect bank account that is not the Account or an Australian bank account in the name of the user. It is important for you to take precautions when transferring and storing your funds or providing us with bank details. You should familiarise yourself with the security measures available when using a wallet service or other device for storage. Always take a greater degree of care and precaution to secure your passwords when operating in a digital environment. You are strongly advised to double check that you have inserted the correct wallet address or Australian bank account details where required.

b) If we determine (in our sole reasonable discretion) that transferring digital currency / cryptocurrency or fiat currency to you would be unlawful, or in any way contrary to our AML/CTF obligations, we may suspend such a transfer for as long as we reasonably determine is required. You agree that when this occurs, you have no claims regarding the delayed transfer and agree to assist us with every request for information in this regard.

c) market conditions, or other operational or technical difficulties which could result in the immediate halt of transactions either temporarily or permanently. Provided that Stables has taken reasonable commercial and operational measures to prevent such events in technical systems controlled by us, Stables is not and will not be responsible or liable for any loss or damage of any kind incurred by you as a result of such cyber-attacks, operational or technical difficulties or suspensions of transactions.

Further information is available on the website, Platform, App, Risk Warnings / Disclosures and in our Frequently Asked Questions (FAQs).

Stables Privacy Policy and Consent Notice

Last updated September 2023

This is the Privacy Policy and Consent Notice for the Stables Group.

References in this Privacy Policy to ‘Stables’, ‘we’, ‘us’ and ‘our’ is a reference to Stables.

By using our products, services, app, viewing our website, interacting on social media, attending events, participating in surveys or user interviews, employment applications or any other means where you are sharing data with us, you agree to the terms outlined in this Privacy Policy and provide your relevant consent.

This consent can only be withdrawn by you expressly communicating this with Stables in writing via team@stables.money

Our commitment to protect your privacy

We understand how important it is to protect your personal information. This document sets out our Privacy Policy commitment in respect of personal information that you may provide to us.

We recognise that any personal information we collect about you will only be used for the purposes indicated in our policy, where we have your consent to do so, or as otherwise required or authorised by law. It is important to us that you are confident that any personal information we collect from you or is received by us will be treated with appropriate respect ensuring protection of your personal information.

Our commitment in respect of personal information is to abide by the Australian Privacy Act 1988 (Cth) and any other relevant law.

Personal information

Personal data, or personal information, means any information about an individual from which that person can be identified. It does not include data from which the identity of the individual cannot be discerned (anonymous data).

We use different methods to collect data from and about you. Data is collected through the following:
Our website and app
When you use our website or app, we may collect, use, store and transfer the following data:
• Information you give us while using our website and app. We may ask you to provide us with personally identifiable information while you use our website.
• Automated technologies or interactions. We may use cookies, server logs and other technologies, such as web beacons, to collect information that your browser sends us when you are using our website. This includes your computer’s internet protocol, browser type, browser version, the country from which you visited our website, how you arrived at our website, length of your visit and which pages you viewed. Please refer to our Cookie Policy for further information about how we use cookies and similar technologies.

When we refer to personal information we mean information or an opinion about an individual, from which that individual is, or may reasonably be, identified.

This personal information may include the individual's name, date of birth, ID document details, phone number, email address, nationality, source of funds and other relevant information in order to be able to provide products and services.
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Personal information also includes sensitive information. Sensitive information includes information about an individual’s health, race or ethnic background, their religion, trade union membership, political opinion, sexual preference or criminal record. Generally we will not collect such sensitive information about an individual, unless such information is required in order to process an application for a product or service provided by us. We will only collect sensitive information about an individual with that person’s consent.

Information about non-individual clients

If our client is an entity other than an individual, for example a company or a trust, we may collect information about that entity. This information may include that entity’s name and address, registration details, details of individuals involved with that entity and financial information about that entity.

In this policy, a reference to Information includes personal information (including sensitive information) about individuals as well as information about non-individual clients.

Why we collect your information

We collect and receive Information about you in order to conduct our business and to provide our products and services. We also collect Information about you to enable to directly market our products and services to you. If you apply for employment with us we may also collect personal information about you.

How do we collect your information

Information may be collected by us in a number of circumstances, including when you:

• apply to become a customer of Stables or apply for one of our products or services;
• use our website, interact on social media, complete user interviews or surveys;
• attend an event hosted or sponsored by us; or
• apply for employment with us or apply through a recruiter.;

Where reasonable and practical we will collect Information about you directly from you or one of your representatives or from publicly available information. However, we may also collect Information about you from third parties, such as a partner or spouse who contacts us on your behalf, from our contractors who supply services to us, through our introducers), and from advisers such as accountants or lawyers or other organisations authorised by you.

If you do not provide the Information requested by us, we may not be able to provide you with our services.

If you provide Information to us about another individual or about an entity with which you are associated, you must ensure that you are entitled to disclose that Information to us and that, without us taking any further steps required by privacy laws or by our general duty of confidentiality, we may collect, use and disclose such Information for the purposes described in this Privacy Policy. For example, you should take reasonable steps to ensure any individual concerned is aware of the various matters detailed in this Privacy Policy. Any such individual or entity must also provide the consents set out in this Privacy Policy in respect of how we will deal with their Information.

How do we use your information?

We use Information provided to us for the purpose for which it has been provided, for reasonably related secondary purposes, any other purpose you have consented to and any other purpose permitted under the Privacy Act. This may include using your Information for the following purposes:

• to provide you with the products or services you requested;
• to verify your identity;
• to assess, process and manage your application for a product or service offered by us, including to verify your details and assess our risk;
• to assess, process and manage your application for employment; or
• for complaints handling or data analytics purposes.

To whom will we disclose your information?

To enable us to maintain a relationship with you, we may disclose Information about you to:

• organisations that provide products or services used or marketed by us;
• your employer/s or referees, your professional advisors, your bank and any other organisation that may have or is considering having an interest in our business or a product provided by us;
• companies and contractors who we retain to provide services for us, such as IT contractors, call centres, stationery printing houses, mail houses, storage facilities, lawyers, accountants and auditors, who will need to have access to your Information to provide those services;
• people considering acquiring an interest in our business or assets;
• other individuals or companies authorised by you.

By providing us with your Information, you consent to us disclosing your Information to such entities without obtaining your consent on a case by case basis.

Sometimes we are required or authorised by Australian law to disclose your personal information. Circumstances in which we may disclose your personal information would be to a Court, Tribunal or law enforcement agency in response to a request or in response to a subpoena or to the Australian Taxation Office or other tax authority. From time to time, we may also be required to provide Information about you to a foreign law enforcement agency or foreign regulator.

Some of our third party service providers (including our information technology service providers) may be located in countries outside of Australia, including countries in Asia, Europe, North America, South America and other parts of the Australia region. Although our contracts with third parties generally include an obligation for them to comply with Australian privacy law and our Privacy Policy, some of our related bodies corporate, branches and third party service providers are located in countries that do not have laws that provide the same level of protection as the laws of Australia.

We may also use cloud storage and IT servers that are located offshore.

Direct marketing

From time to time we may use your Information to provide you with current information about products and services, special offers you may find of interest, changes to our organisation, or new products or services being offered by us or any company we are associated with. By providing us with your Information, you consent to us using your Information to contact you on an ongoing basis for this purpose, including by mail, email, SMS, social media and telephone.

If you do not wish to receive marketing information, you may at any time decline to receive such information by contacting our Privacy Officer on the contact details below. We will not charge you for giving effect to your request and will take all reasonable steps to meet your request at the earliest possible opportunity.

Updating your information

It is important to our relationship that the Information we hold about you is accurate and up to date. During the course of our relationship with you we will ask you to inform us if any of your Information has changed.

If you wish to make any changes to your Information that we hold about you, or if you think any such Information we hold about you is incorrect, you should contact us to have it updated. We will generally rely on you to assist us in informing us if the Information we hold about you is inaccurate or incomplete.

Access to your information (this section applies only to 'personal information' about individuals)

We will provide you with access to the personal information we hold about you, subject to limited exceptions in the Privacy Act as outlined below. You may request access to any of the personal information we hold about you, at any time.

To access personal information that we hold about you, use the contact details specified below. We may charge a fee for our reasonable costs in retrieving and supplying the information to you.

Denied access to personal information (this section applies only to 'personal information' about individuals)

There may be situations where we are not required to provide you with access to your personal information. For example, such a situation would be information relating to an existing or anticipated legal proceeding with you, or if your request is vexatious.

An explanation will be provided to you if we deny you access to your personal information we hold.

Business without identifying you

In most circumstances it will be necessary for us to identify you in order to successfully do business with you, however, where, it is lawful and practicable to do so, we will offer you the opportunity of doing business with us without providing us with Information. Such a situation would be where you make general inquiries about interest rates or current promotional offers.

How safe and secure is your information that we hold

We will take reasonable steps to protect your Information, by storing it in a secure environment, and when the Information is no longer needed for any purpose for which the Information may be used or disclosed, it will be destroyed or permanently de-identified.

We will also take reasonable steps to protect any Information we hold about you from misuse, loss and unauthorised access, modification or disclosure.

Third party websites

The Stables website may contain links to third party websites and social media features that are hosted by a third party. A link to another website does not mean that we sponsor, endorse or approve the information found on that website. We are not responsible for the privacy policies or practices of third party websites or social media features and you use of those websites and features are governed by the privacy policies and practices of the hosting entities.

Our Data Protection Officer

Stables appointed our Chief Risk Officer as our data protection officer (DPO) who is responsible for overseeing questions in relation to this Privacy Policy and Consent Notice. If you have any questions about this Privacy Policy and Consent Notice, including any requests to exercise your legal rights, please contact the DPO using the details set out below. We try to respond to all legitimate requests as soon as possible. Occasionally it could take us longer if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.

Email address: team@stables.money
Attention Chief Risk Officer

Your rights

Under certain circumstances, you have rights under data protection laws in relation to your personal data and we will endeavour to accomodate all of these rights where practical:
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• Request access to your personal data (commonly known as a “data subject access request”). This enables you to receive a copy of the personal data we hold about you and to check that we are lawfully processing it.

• Request correction of the personal data we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected, though we may need to verify the accuracy of the new data you provide to us.

• Request erasing of your personal data. This enables you to ask us to delete or remove your personal data. You also have the right to ask us to delete or remove your personal data where you have successfully exercised your right to object to processing, where we may have processed your information unlawfully or where we are required to erase your personal data to comply with local law. Please be aware that we may have to keep some of your data to comply with the law or for AML CTF and tax purposes but we will evaluate your request within applicable data protection laws.

• Object to processing of your personal data. In certain circumstances you can object to our processing of your personal data. You have the absolute right to object where we are processing your personal data for direct marketing purposes. You can exercise this right at any time by contacting us. This may result in you not being able to be a customer of Stables.

• Request restriction of processing of your personal data. This enables you to ask us to suspend the processing of your personal data in the following scenarios: (a) if you want us to establish the data’s accuracy; (b) where our use of the data is unlawful but you do not want us to erase it; (c) where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims; or (d) you have objected to our use of your data and we are considering whether we have overriding legitimate grounds to use it.

• Request the transfer of your personal data to you or to a third party. We will provide to you, or a third party you have chosen, your personal data in a structured, commonly used, machine- readable format. This right applies to information which you have provided consent for us to use or where we used the information to perform a contract with you.

• Withdraw consent at any time where we are relying on consent to process your personal data. Please note that if you withdraw your consent, we may not be able to provide certain products or services to you.

• You have the right to object to automated individual decision-making and profiling, and the right to request human intervention where we have relied on automated decision making or profiling.

If you wish to exercise any of the rights set out above, please contact teams@stables.money.

We may need to request specific information from you to help us confirm your identity and ensure your right to access your personal data (or to exercise any of your other rights). This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.

Contact details

You can email us at team@stables.money

‍We will deal with the complaint by investigating the complaint, and providing a response to the complainant within 15 business days, provided that we have all necessary information and have completed any investigation required. In cases where further information, assessment or investigation is required, we will seek to agree alternative time frames with you.

Change in our Privacy Policy

We are constantly reviewing all of our policies and attempt to keep up to date with market expectations. Technology is constantly changing, as is the law and market place practices.

As a consequence we may change this Privacy Policy and Consent Notice from time to time or as the need arises.

Target Market Determination

Last updated 15th August 2023

To ensure you're ending up with financial products designed for your needs, we've put together some Target Market Determinations (TMDs) in accordance with the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act (Cth) 2019.

The TMD explains the people this product was designed for, our obligations around distributing the product, when this TMD will be reviewed, and recording keeping and reporting obligations.

TMDs are not intended to provide financial advice. When making a decision about a product always make sure you refer to the Terms and Conditions and any supplementary document(s).

Here is the TMD for:
Target Market Determination for Stables Card Mastercard®

General Risk Warnings & Disclosures

Last updated April 2023

Before using any of our services, website, platform, app you should ensure that you fully understand and can afford to undertake the risks involved. This risk warning / disclosure lists some, but not all of the risks involved in holding, trading and using digital / crypto assets generally, and using our services specifically.

You should do your own research to make sure the Stables offering is right for you. If you do not fully understand the risks you should not use Stables or deposit funds with us.

This risk warning / disclosure is intended to provide you with a general outline of the risks involved, but can not capture all such risks. the risks listed below therefore do not constitute an exhaustive lists, and additional significant risks may be applicable. you should always do your own research!

Risks by their very nature are fluid, dynamic and constantly changing and Stables will update this page from time to time as the risks change.

Please note, you may lose all or some of your money. Only deposit what you can afford to lose.

General

Stables is not a bank and your deposits are not guaranteed by the Australian Federal Government Financial Claims Scheme (FCS).

Stables / Tiiik Pty Ltd does not have an Australian Financial Services Licence (AFSL), but leverages relationships with Third Party Providers to deliver its services.

Stables does not provide any legal, tax or financial advice and you are strongly advised to obtain independent legal, tax or financial advice prior to making any financial decision, including buying, trading, holding, or using digital / crypto assets.

There are significant risks associated with digital / crypto assets, and you are solely responsible to make sure you understand such risks and assess whether such risks are appropriate for you. Stables does not take into account your personal circumstances, financial situation, needs or goals. Before making any financial decision, you should carefully assess your financial situation and capacity, and only use funds that you can afford to lose. Past performance is no guarantee of future results.

Risks related to digital / crypto assets generally

Interacting with digital assets, crypto assets can incur risk of financial loss. Digital / crypto assets are by their nature highly volatile, and you should be aware that the risk of loss in trading, investing, or holding digital assets can be substantial. They are a new and evolving asset class that can be challenging to predict how they will perform.

The value of digital assets can be highly unpredictable, with significant price fluctuations within short periods of time and their value may not be guaranteed or backed by any government. The value of digital assets can be affected by unpredictable events, including the performance of world markets, protocols not performing as expected, economic indicators, interest rates, changes in taxation on income and capital, foreign exchange rates, regulatory and legislative changes, technological developments, and market sentiment.

Digital assets are not traditional legal tender, and there is no guarantee that any person shall agree to accept them for their intended purpose at any time in the future. Market availability and liquidity may be limited or disrupted, and there can be no guarantee that you would be able to sell or exchange your digital / crypto assets at any price.

The nature of digital assets may entice an increased risk of fraud or cyber-attack, including rollback attacks or blockchain reorganisations. Digital asset transactions are not reversible. Erroneous transactions may result in irreversible loss of your funds.

Digital assets are largely unregulated in most parts of the world, and limited protection (if any) may be afforded to users in the event of loss. Digital / crypto exchanges and service providers may not be subject to regulatory supervision.

Different jurisdictions may treat crypto assets differently, and the cross-border nature of the blockchain and of digital / crypto assets may make them subject to the laws of various jurisdictions. You must always make sure that any use you make of any digital asset is compliant with all applicable laws.

Different jurisdictions may impose specific tax rules and treatments to digital / crypto assets. You must ensure you understand the tax implications of your activities, and always comply with all reporting and payment obligations applicable to you.

Blockchain technologies are susceptible to a wide variety of risks, from malicious attacks to technical difficulties and failures, which may result in loss of funds transacted or held over the blockchain, increased transaction costs or delays in execution.

Risks related to using Stables' services

1. Price Stability / Instability and depegging of the USDC
In an open market, price levels are driven by supply and demand—as supply and demand rise and fall, so do consumer prices.Account balances are held in USDC. While USDC is a “stablecoin” designed to remain pegged in value to the US Dollar, and backed by US Dollar reserves, Stables does not control the issuance, redemption or backing of USDC and cannot guarantee that 1 USDC will always remain redeemable for 1 U.S. Dollar.There is a risk USDC will be depegged from the US Dollar.

2. Foreign exchange (FX) Risk
Foreign exchange risk (also known as FX risk, exchange rate risk or currency risk) is generally understood to be a financial risk that exists when a financial transaction is denominated in a currency other than the domestic currency.

Account balances are held in USDC which is pegged to the USD$ at 1:1. When you deposit and /or withdraw your funds, the currency denomination is AUD$. The value of the Australian Dollar may fluctuate against the value of the US Dollar and this will impact your total balance in the Account.

3. Counterparty risk/ risk of utilising third party providers
Counterparty risk is generally understood to be the probability that the other party in an investment, credit, or trading transaction may not fulfil its part of the deal and may default on the contractual obligations.

Stables uses a number of different counterparties. Stables does not directly control these entities and organisations.Stables , or a third party, will hold and secure the funds. If Stables, or the third party becomes insolvent, or is subject to hacking or some other cyber security event, your funds may be at risk, and you may incur partial or total loss of your cryptocurrency.

Stables conducts in-depth due diligence reviews, at an initial onboarding and then ongoing stages, of any such third party or platform, including security, financial and credibility tests. However, Stables cannot guarantee that they shall not suffer any breaches, lose such assets or fail to return any assets to Stables, resulting in financial loss.

4. Fraud and security risks to customers
Fraud and security risks are generally understood to be unauthorised access to your account, theft of customer identity or usage of customer funds.

Customer identification documents may be stolen by unauthorised third parties and those third parties may open or interact on an account.

This leads to a risk of a fraudulent account being created or unauthorised transactions occurring.

Customers must keep their identification documents safe, never share passwords and endeavour to secure all devices that they use to interact with Stables.

Stables has robust controls around customer onboarding, including Know Your Customer (KYC) checks for all customers who onboard with us. Stables also conducts a number of different transaction and customer behaviour monitoring to help detect any suspicious interactions on customer accounts.

If customers become aware of any unauthorised transactions on their account they should let us know straight away.

5. Market Risk and uncertainty of external markets
Market risk is generally understood to be the risk of losses caused by adverse price movements. Examples of market risk are endless, including but not limited to changes in share / equity prices or commodity prices, interest rate moves or foreign exchange fluctuations.

Trading and holding any asset class has some level of risk and Stables cannot control the external economic conditions and other markets.

External markets can be impacted by a variety of external shocks and factors, including but not limited to political, economic, social and technological.

The value of Digital assets fluctuates constantly. The value of digital assets may decrease very significantly. Unlike currencies issued by governments and recognised as legal tender, Digital / Crypto Assets are backed and supported by technology and trust. There are no central banks or other authorities that can take corrective measures in order to protect the Virtual Asset’s value in a crisis. Use of services relating to Virtual Asset trading can lead to large and immediate financial losses. It follows that you should not hold value you cannot afford to lose in Digital / Crypto Assets.

6. Insolvency risk
Bankruptcy risk, or insolvency risk, is the likelihood that a company will be unable to meet its debt obligations. It is the probability of a firm becoming insolvent due to its inability to service its debt.

There is a risk that Stables may become insolvent and then may not be able to continue to provide services to customers.

Stables mitigates this risk by maintaining adequate cash reserves to continue to run our business.

7. Complex tax advice risk
Buying, selling Digital assets / Cryptocurrencies for profit, and receiving a Return raises novel taxation issues. You will need to be prepared to talk to a tax adviser if you use our services.

We suggest you seek independent taxation advice prior to purchasing Digital assets / Cryptocurrency or earning a Return.

8. Regulatory and Compliance Risk
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Regulatory risk is generally understood to be a potential change to laws, regulations or interpretations that will cause you losses or detrimental impacts.

Compliance risk is the potential that you will be deemed to have violated a law or regulation.

The regulatory status of Stablecoins is unclear or unsettled in many jurisdictions including Australia. It is difficult to predict how or whether governmental authorities will regulate the Stablecoins. It is likewise difficult to predict how or whether any governmental authority may make changes to existing laws, regulations and/or rules that will affect any of the Stablecoins. Stables may cease offering Services in respect of any of the Stablecoins or prohibit use of the Services in or from certain jurisdictions in the event that governmental actions make it unlawful or commercially undesirable to continue to offer such Services in respect of any Stablecoins. Stables embraces all existing and new forms of regulation in this space.

9. Technology Risk / Risk of being hacked
Technology risk, or information technology risk, is the potential for any technology failure to disrupt a business. Companies face many types of technology risks, such as information security incidents, cyberattacks, password theft, service outages and other disruptions to normal operating conditions.

We may suffer technological difficulties which may prevent the access or use of your account or delay your transactions. Stables top priority is the security of its systems, crypto assets held by it and its users’ personal information. However, we (and third parties having authorized access or control over such assets) may suffer malicious attacks and security breaches, which may result in the compromise of such assets.

Stables partners with industry leading providers who all have robust cyber security programs in place.

10. Smart Contract Risk of Third Parties
A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralised blockchain network.

One bug in the smart contracts can cause the price of a token to drop to zero. A malicious hacker can exploit that bug or security issue to manipulate the project for any possibility, including losing all your cryptocurrency assets in the pools affected. To manage this risk, Stables ensures that all third parties it partners with should confirm that the smart contract functionality has been audited and adequate ongoing controls in place.

Our Third Party Providers may utilise smart contracts and these may be compromised.

Product Disclosure Statement and Card Terms & Conditions

Last updated 28th August 2023

This Product Disclosure Statement and Terms & Conditions (“PDS”) contains important information about the use of the Card facility (the “Card”). It's important you read this document carefully.

It includes:

Section A – General Information. You should read this section to find out whether the product is right for you.
Section B – Card Terms and Conditions, setting out terms and conditions that apply if you acquire a Card.
Section C – Definitions, setting out the meaning of key terms used throughout Sections A & B.

Section A - General Information

The Card is issued by EML Payment Solutions Limited ABN 30 131 436532, AFSL 404 131 (“Issuer”). Mastercard Prepaid Management ServicesAustralia Pty Ltd ABN 47 145 452 044 AFSL 386 837 (“Mastercard Prepaid”) is the card program manager of the Card and is responsible for providing various cardholder services to you.

The Issuer is an Australian company authorised to issue the Card under an arrangement with Mastercard Prepaid. The Issuer’s Australian Financial Services Licence (“AFSL”) 404131 authorises it to deal in, and provide financial product advice in relation to, certain classes of financial products, including the Card.

When you take out a Card, you are entering into a contract with the Issuer, not with Mastercard Prepaid. In these terms and conditions any reference to 'we' or 'us' is a reference to the Issuer; 'you' are the user of the Card.

This PDS contains important information and terms and conditions about the use of your Card and has been prepared by the Issuer. This PDS does not take into consideration your objectives, financial situation or needs. Before applying for a Card and you should consider whether the Card is appropriate for you, having regard to your own objectives, financial situation and needs. It is important that you read and understand this PDS before deciding to apply for this product. The Target Market Determination for this product can be located on the Stables website.

‍Information in this PDS that is not materially adverse information is subject to change from time to time. You may access this updated information online.

What is the Card?

The Card is a prepaid, reloadable Mastercard which allows you to make purchases using funds in your Stables Digital Wallet. When you use the Card for a transaction, an amount of USDC in your Stables Digital Wallet is instantly converted into Australian Dollars and loaded onto the Card to complete your transaction as you would using any other card.

Significant Benefits of the Card

Convenient - the Card is a convenient way for you to access your funds in your Stables Digital Wallet. You can use it online or to pay directly for goods and services at merchants who accept Mastercard. The Card may not operate in some countries or geographical locations due to restrictions imposed by Mastercard. You can find information regarding the merchants where restrictions apply here. Please also note that the Card cannot be used for manual (non-electronic) transactions. In addition, the Card must not be used for any unlawful activity. You agree to never give another person access to your Card.
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Reloadable - the Card is reloadable, which means that during the life of the Card, value can be loaded multiple times, within the applicable limits, from your Stables Digital Wallet.

Contactless - your Card is contactless. Mastercard contactless is the faster way to pay for purchases under the applicable transaction limit ($100 in Australia) without signature or PIN. Just tap your Card against the reader and go. For more information, please visit www.mastercard.com/contactless. Transaction limits for contactless transactions may change from time to time. For transactions above the limit, additional authorisation is required. Different transaction limits apply in different countries.

Easy - once activated, you will be able to use your Card as any other digital card.

Things you need to know before obtaining a Card

Security
It is important that you safeguard your Card details, your PIN and any other passwords, equipment or software required for operation of the Card, for example, our mobile device.

If you do not, then you may be liable for unauthorised transactions and other amounts as explained further in Section B. You may also have other liabilities, liability may be limited, as described in the Terms and Conditions.

In certain circumstances, theIssuer’s liability in respect of unauthorised or mistaken transactions is limited, meaning that you may still be liable for the transaction. In some circumstances the Issuer may not be liable for losses caused by equipment or system failure (including consequential losses), meaning that you may still be liable for the transaction and consequential losses.

Counterparty Risk
As counterparty to the Card, you are relying upon the Issuer’s financial ability to fulfil its obligations to you. As a result, you have counterparty risk. The ability to transact with the Card is ultimately dependent on the redeemed amount from your Stables Digital Wallet being transferred to EML. Accordingly, if Stables becomes insolvent or if there is otherwise a delay in the transfer of your redeemed amount, there is a risk you may not be able to transact using the Card.

The balance amount on your Card is not a deposit and you do not have any depositor protection under the Financial Claims Scheme or any government guarantee which means you may lose all or part of your remaining balance of your Card in the event of an insolvency of the Issuer.

Exchange risk
When you use the Card for a transaction, the USDC in your Stables Digital Wallet will be redeemed into Australian Dollars by Stables at the sell price for USDC at the time of the purchase or pre-authorisation (as applicable). As such, the sale of USDC is subject to market fluctuations and you may be subject to variations in the value of USDC as against the Australian Dollar at the time of each transaction.

Service Availability
In some circumstances, there is a risk that point-of-sale services may not be available for a period of time. The Issuer and Mastercard Prepaid are dependent upon the reliability and operational processes of technology and communications providers, with respect to computer and telecommunications network. While all parties seek to achieve 100% availability, process and service disruptions may occur periodically. The Card cannot be used for non-electronic transactions or offline transactions.

Card expiry
Your Card has an expiry date of 3 years and cannot be used after it has expired.

Pre-authorisation
Certain businesses (e.g. hotels, cruise lines and car rental companies) may ask for pre-authorisation of the estimated cost of the final bill. If the Card is used for this purpose, this pre-authorised amount will be temporarily unavailable (and in some cases for up to 30 days). Only the actual amount of the final bill will be deducted from the Card balance. If you do use the Card for a pre-authorisation and need access to the pre-authorised amount within the 30 day period, you will need to contact the merchant directly to request the merchant to remove the pre-authorisation and it will be at Mastercard’s discretion to release the funds back onto your Card.

Third Party Limits
The amounts used for purchases using the Card may be limited by a merchant, or regional regulatory limits as relevant.

Fees and Limits
• Maximum transaction amount - USD $5,000
• Maximum amount permitted on your card in any 12-month period - USD $100,000
• Domestic Cardholder Fees - Up to 1.5% of the transaction amount
• International Cardholder Fees - Up to 2.99% of the transaction amount
• Foreign Currency Conversion Fee - 0%

Important information
The Card is not a deposit account or bank account with the Issuer, nor is it linked to any deposit account or bank account. Accordingly, you do not have any depositor protection under the Financial Claims Scheme or any government guarantee. You do not earn interest on the funds held on your Card.

What happens if you have a complaint?
If you have a complaint about the Card, please contact Mastercard Prepaid by calling 1800 098 231 (+44 207 649 9404 outside of Australia, call charges apply).

We will acknowledge your complaint promptly, either verbally or in writing, and do our best to resolve it straight away. If we can’t resolve your complaint within 5 business days, we will provide you with a written response providing the final outcome within no later than 30 days. We aim to resolve all complaints within 21 days. However, in some cases it may take up to 30 days. Your complaint may take a little longer to assess if we need more information or if your complaint is complex. In all cases, we’ll keep you updated on the progress. You can ask for information about how we manage complaints.

If you are not satisfied with our response, you may lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides free and independent financial services complaint resolution and can be contacted on:
• Website: www.afca.org.au
• Email: info@afca.org.au
• Phone: 1800931 678 (free call)
• Mail: GPO Box 3,Melbourne VIC 3001.

Time limits may apply to complain to AFCA and so you should act promptly or otherwise consult the AFCA website to find out if or when the time limit relevant to your circumstances expires.

To contact the Issuer, EML Payment Solutions Limited, about your complaint:
• Phone: 1300 739 889 between 8:30am to 5pm Queensland time
• Website: http://www.emlpayments.com/
• Email: support@emlpayments.com.au
• Mail: Level 12, 333 AnnStreet, Brisbane QLD 4000

Section B - Card Terms and Conditions

1. Understanding these Terms and Conditions

1.1 These Card Terms and Conditions govern the use of the Card.
1.2 All amounts specified in these Terms and Conditions are in Australian dollars (unless otherwise specified).
1.3 References to days, times or periods of time in these Terms and Conditions are reckoned according to Australian Eastern Standard Time.
1.4 You agree to these Terms and Conditions by provisioning a Card, activating a Card, or using it to make a purchase, but these are not the only ways that you can be taken to have agreed to be bound by the Terms and Conditions.
1.5 The Issuer warrants that it will comply with the ePayments Code in its dealings with you relating to the Card.

2. Issuing of Cards

2.1 You should memorise the PIN to prevent unauthorised use of the Card. You must also follow the rules on Card security (see clause 13 below).

2.2 The Card is the Issuer’s property and the Issuer may suspend use of the Card.

2.3 The Card is not a credit card and, subject to the Card becoming overdrawn (which is prohibited), all use is limited to the available amount on your Card and any other limits referred to in these Terms and Conditions.

2.4 There is no interest payable to you on your Card balance.

2.5 Amounts can be added to the Card only as specifically provided in these Terms and Conditions.

2.6 Your Card balance does not amount to a deposit with the Issuer and the amount standing to the positive balance on the Card does not count as an amount or deposit for any purpose, other than as described in these Terms and Conditions.

2.7 The issuance of a Card is subject to you satisfying the relevant application criteria, as determined by us from time to time in order to meet customer identification and know your customer requirements set by law, including by providing us with sufficient information and proof in relation to your identity. We may at our discretion limit application criteria to drivers licence and/or passport holders of particular countries or by reference to particular types of identification at our sole discretion if we believe this is necessary for know your customer or due diligence purposes.

2.8 We may ask you to provide additional information in relation to your identity and/or source of funds at any time.

2.9 We reserve the right to refuse an application at our sole discretion on any lawful grounds, including but not limited to where we are unable to satisfy ourselves as to your identity or where your profile is inconsistent with our customer profile for the Card.

2.10 You must provide all information to us which we reasonably require in order to manage anti-money laundering or counter-terrorism financing and economic and trade sanctions, risks or to comply with any laws or regulations in Australia or any other country.

3. Activation

3.1 You must activate your Card by logging in through the App.

4. Expiry

4.1 The expiry date of the Card is three (3) years from the date it is provisioned and it cannot be used after it has expired

5. Use of the Card

5.1 The Card may, subject to any applicable fee, be used to pay for goods and services at merchants, or online, where Mastercard is accepted. The Card cannot be used at ATMs.

5.2 The Card cannot be used for manual (non- electronic) transactions. In addition, the Card must not be used for any unlawful activity. You agree to never give your Card or PIN to another person.

5.3 When using your Card at POS terminals, you must select "credit” and not the “cheque” or “savings” option. Please note that by selecting “credit” you are simply accessing your balance through the Mastercard payment scheme; you are not provided with any credit by the Issuer or any other person (although if a Negative Balance occurs, then you will have to repay the amount owing – see clause 8.6 below). Unless the transaction is under the threshold for an applicable Mastercard contactless transaction, you will then be asked to enter your Card PIN to confirm the transaction.

5.4 Although the Mastercard acceptance mark may be displayed, in some countries or merchants the Card may not operate due to restrictions imposed by Mastercard. Details of the countries or merchants in which the Card will not operate are available here.

5.5 When a Card is used to purchase fuel at an automated fuel pump the balance of your Stables Digital Wallet must have a minimum amount of $80. In addition, if a Card is used to make a telephone call there must be a minimum of $11 in your Stables Digital Wallet. If you spend less than these minimum amounts any unused balance may be temporarily unavailable.

5.6 When a Card is used at bars or restaurants an additional percentage (usually, but not necessarily, 20%) may be automatically added as an anticipated service charge or tip and debited to your Card. If your actual service charge or tip is less, any unused balance may be temporarily unavailable.

5.7 Certain businesses may not accept the Card as a means of pre-authorising an amount. If the Card is used for this purpose, some businesses (such as hotels, cruise lines and car rental companies) may pre-authorise the estimated amount of the final bill and this amount will temporarily be unavailable. Please note, only the actual amount of the final bill will be deducted from the Card Fund.

5.8 When a Card is used to purchase goods for delivery by mail or online, an additional 10% may be automatically added as an anticipated delivery charge. If the actual delivery charge is less, any unused difference may be temporarily unavailable.

5.9 Subject to the application of clauses 5.10 and 10.4, the applicable balance (and therefore the total balance on your card) will be debited with the amount of each transaction, along with any applicable fee and these debits will reduce the balance. Except for contactless transactions that do not require authorisation or validation, each transaction will require authorisation or validation before completion.

5.10 If there are insufficient funds available on your Card, the balance of the transaction will be automatically processed using funds available in your Stables Wallet, or, your Card may be declined or the retailer may allow you to pay the balance by some other means.

5.11 You agree to accept a credit to your Card if you are entitled to a refund or other credit for any reason for goods or services purchased using the Card.

5.12 A transaction or payment cannot be cancelled once you have authorised it.

5.13 The point-of-sale terminals are not owned or operated by the Issuer or Mastercard Prepaid and the Issuer and Mastercard Prepaid are not responsible for ensuring that they will accept the Card.

5.14 You must comply with all laws and regulations in respect of the Card in the country of purchase and/or use.

5.15 By successfully applying for and using the Card, you acknowledge and agree that we do not provide and you will not receive paper statements unless you contact us to request a paper statement. Electronic statements showing the Card’s transactions and balance are available through the App.

5.16 If a person reports that a mistaken payment has been made from the person’s account to your Card account, you agree that:a) we may inform that person’s financial institution whether or not your Card has sufficient funds to cover the mistaken payment; andb) we may freeze those funds, or debit those funds from your Card where we are required to do so under the ePayments Code.

5.17 Where required by relevant law, for example where you appear to be a “proscribed person”, you acknowledge that we may:
‍
a) be required to block access to the Card and/or Card balance; and
b) immediately refuse to process or complete any transaction or suspend or terminate our arrangements with you and agree that under these circumstances we have no liability to you.

5.18 You agree that we may delay, block or refuse to process any transaction without incurring any liability if we suspect that the transaction:

a) may breach any laws or regulations in Australia or in any other country;
b) involves any person (natural, corporate or governmental) that is itself sanctioned or is connected, directly or indirectly, to any person that is sanctioned under economic and trade sanctions imposed by the United States Office of Foreign Assets Control, United Nations, the European Union or any country; or
c) may directly or indirectly involve the proceeds of, or be applied for the purposes of, any unlawful conduct.

6. Card limits

6.1 Most merchants limit the minimum and maximum amounts that can be processed in a single transaction. These amounts may also be limited (in some countries) by regulatory controls.

6.2 Other limits are also applicable to the use of the Card, as set out in the Fees and Limits Table.

7. Funding the Card

7.1 Until the Card expires, you can keep using your Stables Wallet account, subject to certain limits and subject to any applicable fees (refer to the Fees and Limits Table or as communicated to you from time to time).

7.2 For security purposes, please memorise your PIN. You should not keep your PIN written anywhere near your Cards. If you forget your PIN, you can reach out to us for support at team@stables.money.
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7.3 Information sent over the internet may not be completely secure and the internet and the online systems are not controlled or owned by the Issuer or Mastercard Prepaid so neither the Issuer nor Mastercard Prepaid can guarantee that they will function at all times and the Issuer and Mastercard Prepaid accept no liability for unavailability or interruption or for the interception or loss of Personal Information or other data.

7.4 The Card can only be used if it has a positive balance. If the Card becomes overdrawn, and a Negative Balance arises, following any transaction authorised by you, the resulting debit balance immediately becomes a debt payable by you to the Issuer and we retain the right to recover this debt by deducting funds. If notwithstanding any such deduction a Negative Balance remains, the resulting debit balance immediately becomes a debt payable by you to the Issuer. If the Card Fund does become overdrawn, every attempt should be made by you to stop subsequent transactions.

7.5 If you notice any error in any transaction on your Card then you must notify Mastercard Prepaid immediately and in any event within 30 business days of the transaction in question. The Issuer or Mastercard Prepaid may request you to provide additional written information concerning any error and you must comply with that request.

7.6 Provided that you have complied with all reasonable requests for information we will correct the error if it is our or any of our service providers’ fault. If we decide it is not our fault, we will notify you in writing or by email as soon as this decision is made. Where we are required to do so, we normally re-credit your Card within 10 business days, although there may be a delay while investigations are completed.

7.7 If the Issuer or Mastercard Prepaid discover an error in the amount of funds that have been loaded or reloaded onto your Card for any reason, we are authorised to correct this error without further notice, including but not limited to debiting any amount of funds from the Card Fund that have been loaded in error.

8. Fees

8.1 You agree to pay and authorise us to debit your Card for the fees set out in the Fees and Limits Table. These fees may be deducted from your Card as soon as they are incurred. Unless otherwise specified, all fees will be deducted in Australian Dollars. If there are insufficient funds, we may not authorise the transaction.

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

8.3 If any amount payable under this PDS represents consideration for a taxable supply, then those amounts shall be taken to be exclusive of GST.

9. Suspension or closure of your Card

9.1 The Issuer and Mastercard Prepaid may, with or without notice and without incurring any liability to you cancel or suspend the Card and/or terminate this agreement with you if it has good reason to do so, including without limitation if:

a) the Issuer considers the Card has been or is likely to be misused;
b) you breach any of these Terms and Conditions or the Issuer suspects any illegal use of the Card;
c) you gave false, inaccurate or incomplete information when you applied for the Card.

9.2 Once the Card is closed, unless we instruct you otherwise, your Card will be deactivated by us and unavailable for use.

10. Card security

10.1 You must make sure that you keep the Card, the Security Details and all Security Codes safe and secure by taking the following precautions (“Security Requirements”). You must not:

a) allow anyone else to use the Card;
b) unnecessarily disclose the Card number;
c) carry any Security Code with the Card unless you make a reasonable attempt to protect the Security Code;
d) record any Security Code where it may be accessed by other people unless you make a reasonable attempt to protect the Security Code;
e) voluntarily disclose any Security Code to anyone else, including a family member or friend; or
f) fail to comply with any instructions we give about keeping the Card and any Security Details safe and secure; or
g) act with carelessness in failing to protect the security of the Security Code.

10.2 You should examine your account statement on the App to identify and report, as soon as possible, any instances of unauthorised use of the Card.

10.3 The Card will be disabled if an incorrect PIN is entered three successive times. If the Card is disabled, please contact Customer Support to reactivate the Card. There may be a delay (usually 24 hours) in reactivating a disabled Card.

11. Loss, theft and misuse of Cards/mobile devices

If you know or have reason to suspect that the device which contains your Card is lost or stolen or damaged, likely to be misused or you have reason to suspect that someone else may know the Security Codes or Security Details, you must immediately notify Mastercard Prepaid who will then suspend the relevant Card to restrict further use.

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

You must assist us and the police in any enquiries and attempts to recover a lost or stolen Card, including any device on which the Card was provisioned.

If any lost device is subsequently found, you must not use the Card associated with that device.

12. Liability for Unauthorised Transactions

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

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

You will not be liable for losses resulting from Unauthorised Transactions that are caused by the fraudulent or negligent conduct of:
‍
1) our staff or agents; or
2) companies involved in networking arrangements, or
3) merchants who are linked to the electronic funds transfer system or their agents or employees.

You will not be liable when Unauthorised Transactions which:

1) using a Card after notification to us that the Card has been misused, lost or stolen or that the security of the relevant Security Codes has been breached;
2) happen before you receive a Card and/or PIN (including a reissued Card and/or PIN);
3) are made with forged, faulty, expired or cancelled Cards, Identifiers or PINs (as applicable);
4) are the result of the same transaction being incorrectly debited more than once to the same Card Fund; or
5) are made using an Identifier without a Card or PIN.

Subject to clauses 12.1, 12.2, 12.3 and 12.4, where we can prove on the balance of probability that you have contributed to the losses caused by an Unauthorised Transaction:

1) through your fraud; or
2) by failing to comply with the Security Requirements,

then you are liable for the actual losses which occur before we are notified of the loss, theft or misuse of your PIN or Card or a breach of the Security Requirements. However, you will not be liable for any loss on any day, or in any period, exceeding any applicable transaction limit for that day or period and you will not be liable for loss in excess of the balance of the Card Fund available for transactions using the Card.

Subject to clauses 12.1, 12.2, 12.3 and 12.4, you will be liable for losses resulting from Unauthorised Transactions where we can prove on the balance of probability that you have contributed to the losses through unreasonably delaying notification of the misuse, loss or theft of a Card/device or that the security of the relevant PIN has been breached. Your liability in this case is limited to losses occurring between the time that you became aware of the security compromise, or should reasonably have become aware in the case of a lost or stolen Card, but you will not be liable for any loss on any day, or in any period, exceeding any applicable transaction limit for that day or period and you will not be liable for loss in excess of the balance of the Card Fund available for transactions using the Card.

If it is unclear whether or not you contributed to the loss caused by an Unauthorised Transaction that required a PIN, the amount of your liability will be limited to the lesser of:

1)$150;
2) the actual loss at the time we’re notified of the misuse of the Card, loss or theft of the Card/device or of the breach of security of the relevant Security Codes (limited by the applicable daily or period transaction limits over the relevant timeframe); or
3) the balance of the Card Fund available for transactions using the Card.

You are responsible for checking your transaction history online and knowing your available balance. You can check your balance and transaction history free of charge on the mobile app.

For disputed transactions you should complete the “Dispute Claim Form” available on the website. Mastercard Scheme Rules impose time limits after the expiry of which our ability to dispute a transaction on your behalf may be lost. We may not be responsible for any loss to you where it can be shown that you have unreasonably delayed notifying us.

13. Your Personal Information (important information about your privacy)

By purchasing and using the Card you consent to the Issuer and Mastercard Prepaid and their respective agents collecting, using and disclosing your Personal Information under these Terms and Conditions. If you do not agree to our doing so then we cannot make the Card available to you and you should not purchase the Card.

You must notify us immediately of any change to your contact details by updating them in the App or calling Customer Support. You should also contact us if you change your name. 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 to us.

You may be required to provide information to the Issuer and Mastercard Prepaid (including evidence of identity) when purchasing the Card or when you use the Card.

The Issuer will take all reasonable precautions to keep Personal Information secure and protect it under the Privacy Policy.

Your Personal Information may be disclosed by the Issuer or Mastercard Prepaid and their respective agents to third parties to facilitate the provision of the Card Services and related services, to monitor compliance with these Terms and Conditions and for data analysis, anti-money laundering, detection of crime, legal compliance and fraud prevention purposes. The Issuer and Mastercard Prepaid may also disclose Personal Information to collection agencies and lawyers in the event that we seek to recover any money that you owe under these Terms and Conditions.

In addition, by acquiring or activating a Card, you are consenting to the Issuer and Mastercard Prepaid using your Personal Information to notify you of product features, related products, promotions and customer surveys that we may conduct from time to time. You can elect to not receive further notifications by clicking on the unsubscribe link in the marketing material or by contacting us. You also consent to us sending SMS’ to your mobile phone to advise you of Card features or information relevant to your Card.

Your Personal Information will be disclosed and processed outside Australia to overseas recipients including the United Kingdom and United States of America for the purposes disclosed in these Terms and Conditions but all service providers are required to have adequate safeguards in place to protect your Personal Information to a standard at least to the equivalent required by privacy laws in Australia.

Your Personal Information may also be used where we are required or permitted to do so as a result of any government laws and regulations, by a court order or by any business or persons to whom we transfer our rights and obligations under the agreement between you and the Issuer which is governed by these Terms and Conditions.

We will continue to keep Personal Information that is necessary after the expiry of the Card or closure of your Card Fund on the same terms as are set out above.You are entitled to ask the Issuer or Mastercard Prepaid to supply you with any Personal Information that we hold about you. You must submit your request in writing and may be required to provide evidence proving your identity. We will delete any incorrect information or correct any errors in any of your Personal Information that come to our attention.

To aid us in the provision of the services provided under these Terms and Conditions, in the interests of security, and to help the Issuer and Mastercard Prepaid maintain and to improve their level of service, all telephone calls may be recorded and/or monitored.

You agree that we may disclose any information concerning you to:

1) any law enforcement, regulatory agency or court where required by any such law or regulation in Australia or elsewhere; and
2) any person we use to make payment for the purpose of compliance with any such law or regulation.

14. Our liability

We will not be liable to you for any loss due to:
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- any instructions given by you not being sufficiently clear;
- any failure by you to provide correct information;
- any failure due to events outside our reasonable control;
- any industrial dispute;
- the way in which any refusal to accept the Card is communicated to you;
- any indirect, special or consequential losses;
- any infringement by you of any laws, including laws in the country where the Card is used;
- any dispute between you and the supplier of any goods and/or services purchased with the Card;
- our taking any action required by any government, federal or state law, regulation or court order; or
- anything specifically excluded or limited elsewhere in these Terms and Conditions.

You are not liable for any loss caused by the failure of a system or equipment provided by any party to a shared electronic network to complete a transaction accepted by the system or equipment in accordance with your instructions. However, if you were aware, or should reasonably have been aware, that the system or equipment was unavailable or malfunctioning, our responsibility will be limited to:

- correcting any errors; and
- refunding any charges or fees imposed as a result. Liability for Unauthorised Transactions will be determined according to the ePayments Code.

You should not interpret anything in these Terms and Conditions as excluding, restricting or modifying any guarantee, condition or warranty which is implied by the Australian Consumer Law. Where we are liable for a breach of these Terms and Conditions, then our liability is limited to:

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

The Issuer does not maintain the mobile app through which your account is accessible. You agree that the Issuer is not responsible for any content on that mobile app other than information relating specifically to you or your Card.

15. Communications

You agree that we may give written notices or other communications to you under or in connection with these Terms and Conditions either:by writing to you at your residential or postal address last known to us;

by giving it to you personally or leaving it at your residential or postal address last known to us;

by electronic communication to your 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 in a newspaper circulating nationally in Australia or by posting on the website and/or mobile app.

For the purposes of giving you information that we are required to provide under the ePayments Code:

we may notify you by electronic communication;

you have the right to vary your nominated email address, mobile phone or other contact number;

you have the right to terminate your Agreement to receive the information electronically (a fee for the provision of paper communications may apply); and

if within 6 months after the electronic communication is given, you ask for a paper copy of the information provided electronically, the paper copy will be provided to you.

If we give a notice or other communication to you by email, the content of the notice or communication may be:

- set out in the body of the email;

- included as an electronic document attached to the email; or

- made available on website/app for retrieval by you (with the email advising you of this and of the general nature of the information, and giving you the ability to readily retrieve the information electronically).

If we give a notice or other communication to you:by writing to you – you are taken to have received it when it would be delivered in the ordinary course of the post;

by giving it to you personally or leaving it for you – you are taken to have received it on the day of delivery; or

electronically – you are taken to have received it on the day it is transmitted.

In addition to the ways set out in these Terms and Conditions, we may give you a notice or other communication by using any method allowed or required by a law or the ePayments Code. If a law or the ePayments Code requires us to use a particular method, we will do so.

You agree that, for the purpose of telephone communications originated or received by us, and for the purpose of electronic communications received by us, we may verify your identity by reference to any or all of the Security Details information you’ve previously provided to us. This verification may be completed via an SMS provided by us to you from time to time.

16. Third parties

The Issuer may transfer its rights and obligations under its agreement with you to any other person or business. If this happens, the person or business to which this agreement is transferred assumes all of the Issuer’s rights and obligations under the agreement. From then on, references in these Terms and Conditions to the Issuer are to be read as references to the person or business to which the agreement was transferred.

Except in those circumstances, nothing in these Terms and Conditions will confer on any third party any benefit or the right to enforce any terms of the agreement between you and the Issuer.

17. SMS messaging

We may from time to time send you SMS alerts relating to your Card. You can stop the SMS alerts at any time by sending “STOP” to the number indicated in the SMS (your mobile phone provider will charge you their standard SMS fee for sending this SMS). For more information on the SMS services provided by us from time to time, please visit the website.

18. Governing law

These Terms and Conditions, and the agreement between you and the Issuer, are governed by the laws of New South Wales, Australia and any legal questions concerning the Terms and Conditions or the agreement will be decided under those laws.You submit to the non-exclusive jurisdiction of the courts of New South Wales to hear and determine any disputes or legal questions concerning these Terms and Conditions or the agreement between you and the Issuer.

Section C – Definitions

Activate and Activation refers to the activation of the Card to enable you to use the Card.

App means the mobile application operated by Stables, a trading name of Tiiik.

AUD means the lawful currency of Australia.

Card means the Stables Mastercard provided to you, including any replacements, to which these Terms and Conditions apply.

‍Card Services means any services provided by us (or by service providers on the Issuer’s or Mastercard Prepaid’s behalf) in connection with the Card.

‍ePayments Code means the ePayments Code issued by the Australian Securities and Investments Commission (as amended from time to time) which regulates consumer electronic payments.

‍Fees and Limits Table means the fees and limits table set out in this PDS.

‍GST means any form of goods and service tax or other value added tax and, without limitation, includes GST as defined in the A New Tax System (Goods and Service Tax) Act 1999 (Cth) as amended.

‍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 EML Payment Solutions Limited ABN 30 131 436 532, or any issuer which Mastercard Prepaid authorises to issue the Card.

‍Mastercard Prepaid means Mastercard Prepaid Management Services Australia Pty Limited ABN 47 145 452 044.

‍Negative Balance occurs in certain circumstances when your Card Fund is overdrawn. (For certain EFTPOS transactions, merchants are allowed to process low value transactions without authorising the transaction through Mastercard. For example, if you had $30 remaining on your Card but made an $50 transaction, you would have an $20 Negative Balance. You are liable for any Negative Balance.)

‍Personal Information is the information that the Issuer, Mastercard Prepaid and their respective agents collect from you, including any application form, correspondence, emails, telephone calls, internet communications and transactional information, in connection with the Card.

‍PIN means the personal identification number used to access the Card.

‍PDS means this Product Disclosure Statement and Card Terms and Conditions.

‍Privacy Policy means the respective Issuer’s and Stables's Privacy Policy in relation to Card, available at emlpayments.com/privacy and Stables's website at www.stables.money/privacy-policy respectively.

‍Security Codes means the Card PIN and the passcodes and passwords to access related services, including any passcodes sent for the purpose of two-factor authentication to complete a transaction.

‍Security Details means the information given by you when applying for the Card or during Activation, for the purposes of verifying your identity, or any changes made to this information.

‍Security Requirements means the Security Requirements set out in this PDS.

‍Tiiik means Tiiik Pty Ltd ACN 639 448 490 and its related bodies corporate.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.

‍Website means the website specified in the details at the start of this PDS.

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

‍you, your means the person who acquired the Card

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Financial Services Guide

Last updated April 2023

What is this document?

This Financial Services Guide (“FSG”) has been prepared by Mastercard Prepaid Management Services Australia Pty Ltd ABN 47 145 452 044, AFSL 386 837 (“Mastercard”), the program services manager of the Stables Card Mastercard® issued by EML Payment Solutions Limited ABN 30 131 436 532, AFSL 404 131 (“Issuer”). Mastercard acts for the Issuer. This FSG is an important document which provides information to assist you in deciding whether to use the Card. It contains information on the services being provided, how the relevant parties are remunerated, details of how complaints are dealt with, privacy considerations and the conflicts of interest that may arise between Mastercard and other issuers. In addition to this FSG, you will be provided with a Product Disclosure Statement (“PDS”) containing information about the Stables Card Mastercard (“Card”). You should only rely on the information contained in this FSG, the PDS and Target Market Determination for the Card. If you have any questions about the information contained in this FSG, you should contact Stables.

Who are we? Who do we act for?

Mastercard holds an Australian Financial Services Licence (AFSL 386837) and is authorised to deal in and provide general financial product advice in relation to non-cash payment products, such as the Card. Stables provide the digital wallet from which you can transfer amounts to the Card, to then spend as you would using any other card, and work closely with Mastercard to provide services relating to your Card. Mastercard has authorised us to deal in non-cash payment products, limited only to the Card, as its authorised representative. We have also been authorised by Mastercard to distribute this FSG. Mastercard has not authorised us to provide you with personal advice.

Providing instructions to us

You may provide instructions to us via the mobile app or by email. Instructions received may require verification of your identity. Please refer to the PDS for further details.

What financial services do we provide on behalf of Mastercard?

As an authorised representative of Mastercard, we and our employees, agents and contractors are authorised to deal in the Card only. We are also authorised to provide services including dispute resolution.

How are we and Mastercard remunerated?

Our employees are remunerated on a salary basis with some employees also receiving incentives based on sales of products and services. Mastercard’s employees are remunerated on a salary basis with performance incentives based on the overall financial performance of Mastercard, the performance of the Business Unit in which they operate and individual performance.

Mastercard’s remuneration consists of amounts paid to it by Stables for the servicing of the Cards.

You can request more specific details of the fees and other benefits that will be received by Mastercard by contacting Mastercard General Enquiries directly on 1800 098 231. If you wish to be provided with this information, you must make your request within a reasonable time after you are provided with this FSG, and in any event, before any financial service is provided to you relating to the Card.

Conflicts of interest

Mastercard is part of the Mastercard Group, and its ultimate parent company is Mastercard Inc., a company listed on the New York Stock Exchange. It has a conflict-of-interest policy that aims to avoid and manage conflicts of interests that may arise both within the group and between it and third parties from time to time.

Financial advice

We are not authorised to provide you with any financial product advice. This means that any information we provide you will be factual only and we will not take into account your financial needs, circumstances, or objectives in any of the information we provide. We do not recommend or make any statements of opinion in relation to the Card. You should consider your own objectives, financial situation and specific needs and rely only on the information contained in this FSG and the PDS provided to you or the Target Market Determination, to make your own decision on whether the Card or related services offered are right for your circumstances.

Privacy

In addition to information we collect about you as our customer, which is subject to the terms of our privacy policy (available at stables.money/privacy-policy) to provide an effective service in relation to the Card we may collect personal information about you on behalf of Mastercard. Information is collected by us or Mastercard only where it is required to complete the provisioning of the Card or related transactions for you, to promote and market the Card and services to you and to inform you of any key updates or changes, or for us to comply with laws and regulatory requirements.

If you do not provide the information requested, we or Mastercard may not be able to provide the service you have requested. In some instances, Mastercard may contract with external companies for the provision of services to you. These companies may include, or be associated with transaction processing, insurance, information technology services and records management. Only information about you that is pertinent to the supply of the Card to you is provided to any third party and strict security and confidentiality requirements are adhered to. In collecting and managing personal information, Mastercard complies with the Australian Privacy Principles (‘APPs’) of the Privacy Act 1988 (Cth).

In the event that personal information is disclosed to an external company operating in a foreign country, Mastercard will ensure that the information will be protected by a law or a contract which upholds privacy principles similar to the APPs.

Mastercard will take reasonable steps to protect information we collect from you, and you have the right to access that information to ensure it is accurate. For more details, you should see the privacy policy contained at stables.money/privacy-policy. If you wish to access your information, please contact the Privacy Officer at Mastercard’s principal business address at 72 Christie Street, St Leonards NSW 2065, or call1800 098 231.

Compensation arrangements

Mastercard is covered by a professional indemnity insurance policy (the policy) designed to pay claims by third parties (including customers) arising out of any professional negligence on its part, subject to terms and exclusions of the policy. The policy extends to cover for claims made in relation to the conduct of representatives/employees after they cease to be employed by or act for Mastercard. The terms and conditions of the policy satisfy the requirements of s912B Corporations Act 2001 (Cth) for compensation arrangements. You do not have a direct right to claim under this policy which is taken out to ensure sufficient resources will be available to meet claims against Mastercard.

Dispute resolution

You should address any complaint relating to the financial products or services directly to us on the details provided in the PDS or by contacting Customer Support on 1300 160 858 or by email at team@stables.money.

If these steps are unable to resolve your complaint, the matter will be automatically escalated. If a resolution is not reached within a reasonable time period, the matter will be further escalated and referred to senior management.

All complaints are logged at each stage of the process. If you have any enquiries about the dispute resolution process, please call us on 1300 160 858 or by sending an email to team@stables.money.

If you are dissatisfied with the resolution of a complaint you have lodged, you may refer your complaint to:

Australian Financial Complaints Authority
GPO Box 3 Melbourne Vic 3001
Toll Free Number: 1800 931 678
Website: www.afca.org.au
Email: info@afca.org.au

What happens if this FSG changes?

If the FSG is updated, we will post a link to the updated FSG on the Stables website.

Complaint's Policy

Last updated January 2023

A Guide to Stables' Complaint Handling Process

Stables, powered by Tiiik Pty Ltd ACN 639 448 490 and its related bodies corporate (Stables, we, us, our) loves to hear your feedback when you are pleased with our services. However, we know that we may not always get everything right. We encourage you to contact us if you are dissatisfied with any aspect of our services.

Lodging a Complaint

You can lodge a complaint by email to team@stables.money – Attention: Chief Risk Officer.

Resolving Complaints

Once we receive a complaint, the person who has been appointed to handle the resolution of your complaint will contact you within two business days.

The person handling your compliant will investigate the complaint, and in some cases they may ask you to provide additional information.

How long will it take?

Stables will try to resolve your complaint within 10 calendar days, however, this may not always be possible, however, we always aim to resolve your complaint within 45 days.

If we cannot provide you with our response to your complaint within the above timeline, we will write to you to tell you the reasons for the delay and give you information about your rights.

How will Stables notify me of the outcome of my complaint?

Stables will contact you by the method of communication that you have nominated as your preferred option, usually by phone or email.

If our response to your complaint is not in your favour, we will write to you to explain the reasons for our decision and provide you with information about your rights.

Market Research Terms

Last updated March 2023

I agree to participate in market research interviews and/or surveys (‘Market Research’) and warrant that I understand and agree to all terms included in this Agreement. I understand that, in the process of this Market Research, I will provide feedback, observations, comments, suggestions, ideas, recommendations and other information to Stables (‘Information and Feedback’). I acknowledge that Stables may provide me with a financial incentive to engage in said Market Research, which shall be my sole monetary compensation for agreeing to these terms.

Intellectual Property
I give permission for Stables to use, publish, edit, or reproduce my name, photograph, image, audio and/or video recordings in any form, including audio and visual - or as agreed between the parties, for internal purposes.

I understand that this material will not be used for marketing purposes (unless agreed in writing with you). I agree that Stables has the right to use any and all Information and Feedback in its sole discretion for any reason, including incorporating it into its products and services, without providing me with notice, payment or obtaining my consent.

I hereby assign to Stables all right, title and interest in the Information and Feedback I provide, and any products or services which may incorporate or derive from such.I understand and acknowledge that all tangible and intangible information, including technical specifications and other information submitted hereunder by Stables to me, shall remain the property of Stables. I understand that nothing in this Agreement is intended to assign or transfer Intellectual Property rights form Stables to me.

By clicking ‘I Accept’ you confirm you have read and consent to the following;

Confidentiality
I understand that, in its sole discretion, Stables may provide to me Confidential Information for the limited purpose of me providing Information and Feedback. “Confidential Information” is information disclosed, in any form, about Stables’s products, services, prototypes, ideas for improvement, and user experience of any other information which may reasonably be understood as Confidential.

Treatment of Confidential Information
‍I agree;
- Not to disclose Confidential Information to any third party;
- Not use Confidential Information received by Stables except for the purpose of providing Information and Feedback directly to Stables.

I understand and agree that any breach of the above is considered a direct breach of this Agreement unless, and to the extent that the Confidential Information;
- is known by me at the time of receipt;
- is or becomes part of the public domain without breach of this Agreement by me;
- is legitimately obtained by me without a commitment of confidentiality from a third party; or
- is disclosed pursuant to judicial action or government regulations, provided that I notify Stables prior to such disclosure and cooperate with Stables in the event that Stables elects to legally contest and avoid such disclosure.

Rights, Licenses and Acknowledgments
This Agreement and the furnishing of “Confidential Information” shall not be construed as establishing, either expressly or by implication, any grant of rights or licenses to me or any relationship between the Parties.

Indemnity
To the maximum extent permitted by law, I;
- Indemnify and hold Stables harmless from and against any personal injury, reputationa
- l harm and any and all other claims, action or losses that I may incur participating in the Market Research, regardless of whether such claim action or loss is caused or contributed by Stables’s conduct, omission, negligence or willful misconduct.
- agree and understand that I am releasing, discharging and waiving Stables from any claims or actions that I may have, presently or in the future.
- Indemnify Stables for any loss, damage, reputational loss, expense or claim suffered by Stables in connection with any breach by me of this Agreement.

Termination
This Agreement is to be construed in accordance with the laws of the Commonwealth and shall terminate two (2) years from the effective date of this Agreement.

General
- This agreement may not be varied except in writing agreed by the parties;
- This Agreement is governed by the laws of New South Wales and each party submits to the non-exclusive jurisdiction of the Courts of New South Wales;
- This Agreement may be executed by electronic means.

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Terms & Policies