There are some aspects of this fund which may require extra consideration before deciding to invest.
FMA exemption
Some funds are exempted from the disclosure requirements, so certain information may not be available for these offers. Or the information provided might be in a different form, given the bespoke nature of the offer. Here's more on Financial Markets Authority exemptions.
Financial Markets Conduct (EML Payment Solutions Limited) Exemption Notice 2021.
Issuer's description of this product:
Westpac Global Currency Card is an unsecured, unsubordinated debt security.
Minimum investment
$10.00
This is the minimum amount you would need to put into this in order to invest.
Closing date
Ongoing
This offer does not have a closing date and is a continuous issue. It's likely you'll be able to invest for the foreseeable future.
Maturity
Non-fixed
This investment does not have a fixed date of maturity, which can mean flexible or multiple terms are available.
Rate
Non-fixed
This investment offer does not have a single set rate. This may mean that the rate is variable or that there are multiple rates available.
The details
Key facts
Provider website
Issuer's industry
Financial/insurance
Credit ratings
Credit ratings can help you understand whether your investment in bonds will pay or if you'll get your money back. They indicate the long-term ability of the issuer to repay its debts. See also the Reserve Bank's primer on credit ratings and a map of the three scales used by the rating agencies.
Investment credit rating
Not providedIssuer credit rating
Not providedMaturity
Non-fixed
Maturity conditions description
Your Westpac Global Currency Card continues until you ask EML to close it and to pay the balance (less any fees) to you, or if the balance on your Westpac Global Currency Card is nil and your Card has expired. Your Card is active for a period of five (5) years and valid until the date shown on the front of your Card. After the expiry date, you will not be able to use your Card to access money loaded onto your Westpac Global Currency Card other than by requesting a Cash Out. However, you can request a replacement Card and once this has been sent to you and you activate this Card, you can transfer the balance to that Card to access money loaded onto your Westpac Global Currency Card.
Rate
Non-fixed
Rate calculation description
You will not earn any interest on the money you have loaded onto your Westpac Global Currency Card.
Key documents
These are the most important documents that a provider is required to file about this investment.
Product disclosure statement
Before you invest in a product like a fund, you are given a PDS which has essential details about it and the company providing it. Here's more on how to read a PDS.
Westpac Global Currency Card PDS.pdf
How this investment works, including about the provider, risks, costs and potential returns
PDF, 1.07 MB
Additional disclosure documents
These are more documents from the provider that can contain interesting information.
20220915 Supplementary PDS Westpac Global Currency Card.pdf
Additional product disclosure statement from the provider
PDF, 115.76 KB
Statementregardingfinancialinformationandfinancialstatements.pdf
Statement regarding financial information and financial statements
PDF, 29.65 KB
Declarationof Trust.pdf
Declaration of Trust
PDF, 194.44 KB
Westpac Global Currency Termsand Conditions v 4.pdf
Terms and Conditions
PDF, 1.07 MB
Westpac Global Currency Card Financial Information Summary FY 25.pdf
Additional product disclosure statement from the provider
PDF, 132.10 KB
Westpac Global Currency Card Ranking Table FY 25.pdf
Additional product disclosure statement from the provider
PDF, 43.57 KB
Additional details
Issuer details
Name
EML PAYMENT SOLUTIONS LIMITED
Type
Overseas ASIC Company
Industry
Financial/insurance
Website
NZBN
9429048519045
FSP Number
FSP1000006
Credit rating
Not provided
Supervisor
Name
COVENANT TRUSTEE SERVICES LIMITED
Offer details
Date registered
19 March 2021
Date opened
28 April 2021
Closing date
None
Offer credit rating
N/A
Continuous issue
Yes
Further payments may be required
Yes
Restrictions on transfer
Yes
Restrictions on acquisition
No
Convertible product
No
Intending to list
No
Schedule 1 exemption
No
FMA exemption
Yes
Reference numbers
Offer
OFR13058: WESTPAC GLOBAL CURRENCY CARD