1.1 This Product Disclosure Statement (PDS) is an important document. It is designed to help you decide whether the Aspire Products described below are appropriate for you.

1.2 This PDS describes the significant features, benefits, risks, fees and costs, and other important information about the following financial products issued by AFT AU Pty Ltd ABN 64 670 972 997 AFSL 554582 (Aspire) under its Australian Financial Services Licence (AFSL):

the Multi-currency Account;
the Aspire Card;
the Domestic Payout Services;
the International Payout Services; and
the FX Conversion Services,

(together, the Aspire Products).

1.3 Aspire enables customers to access and use the Aspire Products via its online digital platform (Aspire Platform). The Aspire Platform also enables customers to access and use other services which are not financial products covered by this PDS such as receivables management, expense management, accounts payable and third-party connectivity services.

1.4 The access and use of the Aspire Products, Aspire Platform and other services are governed by the applicable terms and conditions agreed between Aspire and the customer such as the Master Services Agreement, Card Product Schedule and Payments & FX Schedule (Terms & Conditions).

1.5 The information in this PDS is of a general nature only and does not take into account your objectives, financial situation or needs. You should consider this PDS and the Target Market Determination (TMD) for the Aspire Products, together with your own circumstances and, where appropriate, obtain independent professional advice before making any decision.

1.6 The information in this PDS is current as at the date shown above. We may change or update information from time to time. Where the change is not materially adverse, we may update the information by publishing the changes on our website at www.aspireapp.com/au or by other means permitted by law. You can ask us for a paper or electronic copy of any updated information free of charge.

1.7 Additional information about our financial services and how we are remunerated is contained in our Financial Services Guide (FSG), available on our website at www.aspireapp.com/au or on request.

2. Issuer details

2.1 The Aspire Products are issued by Aspire. Aspire’s legal entity and contact details are set out below:

AFT AU Pty Ltd ABN: 64 670 972 997
AFSL: 554582
Address: Level 5, 10 Shelley Street, Sydney, NSW 2000
Website: www.aspireapp.com/au
Email: support@aspireapp.com

2.2 In this PDS, references to “we”, “us” or “our” are to Aspire, and references to “you” or “your” are to the customer holding or applying for the Aspire Products.

3. Key information summary

The table below sets out a summary of the key information regarding each Aspire Product. You should read the whole PDS before making a decision about an Aspire Product.

Aspire Product	Multi-currency Account
Purpose	To enable business customers to hold funds that may be used in connection with the other Aspire Products.
Key Features	Digital business account used to hold funds and make non-cash payments. Supports funding via local bank transfers and other methods enabled by Aspire. Maintains a balance in AUD and other supported currencies for use with the Aspire Card, Domestic Payout Services, International Payout Services and FX Conversion Services. Accessible and managed via the Aspire Platform, including multi-user access, roles and permissions, and integrations with other Aspire services.
Key Benefits	Centralised business account that enables the customer to access and use all Aspire Products from a single platform. Digital-first experience with real-time visibility, transaction monitoring and configurable controls via the Aspire Platform. Enables efficient management of business payments, including card spend, domestic transfers, international payments and FX conversions. Ability to hold funds for use across multiple Aspire Products without the need for separate providers.
Key Risks	Unauthorised transactions and fraud, including compromised login credentials or misuse by authorised users. System or network outages may limit access to the Aspire Platform or prevent processing of transactions. Counterparty and payment system risks, including delays, reversals or issues with banking partners. Regulatory and operational risks, including changes to laws or procedures that affect payment processing. Product suitability risk, as the Multi-currency Account is not intended for consumer, savings or credit use.

Aspire Product	Aspire Card
Purpose	To enable business customers to make purchases of goods and services using the Aspire Card.
Key Features	Visa card (physical and virtual) linked directly to the Multi-currency Account. Enables in-person and online purchases wherever Visa is accepted in Australia and overseas. Supports card controls, spend limits and monitoring via the Aspire Platform. Transactions settle using available funds in the Multi-currency Account.
Key Benefits	Convenient payment method for everyday business spending, travel and supplier purchases. Ability to issue multiple cards for staff with customisable controls and real-time visibility of transactions. Integrated with Aspire’s expense management features via the Aspire Platform. Ability to use the card globally at Visa-accepting merchants.
Key Risks	Unauthorised transactions or card fraud, including lost or stolen cards or compromised card details. System or network outages may affect card authorisation or transaction completion. Foreign exchange conversion risks for transactions processed in non-AUD currencies. Regulatory, operational and counterparty risks, particularly where international merchants or payment networks are involved. Liability for authorised users, as customers are responsible for cardholders’ transactions.

Aspire Product	Domestic Payout Services
Purpose	Allows customers to send payments to payees located in Australia.
Key Features	Enables domestic payments to and from Australian payees using supported payment rails. Supports real-time or near real-time payments to Australian bank accounts (where available). Integrated with the Multi-currency Account and other Aspire Products.
Key Benefits	Fast and convenient initiation of domestic payments through Aspire’s digital platform. Ability to manage supplier payments, payroll-related transfers and business expenditures. Single consolidated interface for managing all domestic payment activities. Real-time tracking and visibility of payment status via the Aspire Platform.
Key Risks	Unauthorised or fraudulent payment instructions, particularly for recurring payments. Operational and system risks, including outages, delays or failures in underlying payment networks. Incorrect or mistaken payments, which may not be reversible once submitted. Regulatory, operational and counterparty risks, including delays or errors caused by third-party banks.

Aspire Product	International Payout Services
Purpose	Allows customers to send payments to payees located outside of Australia.
Key Features	Enables international payments to payees located outside Australia. Supports SWIFT payments to countries and currencies that Aspire supports. Automatically integrates with FX Conversion Services when currency conversion is required.
Key Benefits	Ability to send overseas payments directly from the Multi-currency Account. Supports business operations involving global suppliers, contractors or overseas entities. Integrated FX capability ensures seamless processing of international payments requiring currency conversion. Real-time tracking and visibility of transaction status through the Aspire Platform.
Key Risks	Cross-border delays, rejections, reversals or losses due to reliance on SWIFT networks, correspondent banks or foreign regulations. FX risk where payments involve currency conversion. Operational and system outages that impact the processing of international payments. Counterparty insolvency risk, where intermediary banks fail or delay remittance of funds. Regulatory and legal risks across multiple jurisdictions.

Aspire Product	FX Conversion Services
Purpose	Allows customers to convert one currency into another currency in connection with their payments and holding needs.
Key Features	Allows FX conversions of one currency into another currency that the Aspire Platform supports from time to time. FX rates are displayed in real-time within the Aspire Platform that periodically refresh until the customer confirms the FX conversion. FX conversions are supported in relation to International Payout Services or Aspire Card transactions.
Key Benefits	Access to real-time FX rates via the Aspire Platform for supported currencies. Enables businesses to make international payments and card transactions in foreign currencies without needing a separate FX provider. Transparent and predictable FX process that is integrated with the Multi-currency Account and International Payout Services. Allows customers to convert one currency into another currency and hold the same in connection with their payments needs.
Key Risks	FX rate movement risk, where rates may change between viewing and confirming the conversion via the Aspire Platform. System or network outages that may prevent obtaining or confirming FX quotes via the Aspire Platform. Counterparty and payment system risks, especially where overseas payments rely on multiple banks or payment service providers. Regulatory risks, including changes in FX-related rules or foreign exchange restrictions in supported jurisdictions.

4. Who the Aspire Products are designed for

4.1 The Aspire Products are designed primarily for businesses located in Australia that:

need a transactional business account that supports the ability to make domestic and international payments;
require the ability to convert one currency into another currency in connection with international payments;
need to purchase goods and services using virtual and/or physical cards; and
are comfortable using a digital platform to manage their payments and associated transactional accounts.

4.2 A more detailed description of the target market for the Aspire Products is set out in the applicable Target Market Determination (TMD) available from Aspire’s website accessible via www.aspireapp.com/au.

5. Product overview

5.1 Multi-currency Account

5.1.1 The Multi-currency Account is a non‑cash payment facility that allows you to:

load funds into the Multi-currency Account via supported funding methods (for example, local bank transfers from the customer’s local bank account);
maintain a balance in Australian dollars and other supported currencies;
make domestic and international payments from the Multi-currency Account; and
make card payments utilising funds available in the Multi-currency Account.

5.1.2 The Aspire Platform enables customers to use the Multi-currency Account in conjunction with other services enabled via the Aspire Platform (for example, expense management and accounts payable capabilities).

5.2 Aspire Card

5.2.1 The Aspire Card is a card linked to the Multi-currency Account. Customers may use the Aspire Card to:

make for online and in-person purchases of goods and services from merchants that accept Visa cards in Australia and overseas;
withdraw cash from ATMs that support Visa cards in Australia and overseas;
set spend limits and card controls via the Aspire Platform; and
monitor the use of Aspire Cards that are linked to the customer’s Multi-currency Account via the Aspire Platform.

5.2.3 Aspire may issue Aspire Cards as virtual cards, physical cards or both. Only physical Aspire Cards may be used to make in-person purchases or withdrawals of cash from ATMs.

5.2.4 Card transactions are deducted from funds in the linked Multi-currency Account. Accordingly, the customer must ensure there is a sufficient available balance in the Multi-currency Account in relation to each Aspire Card transaction otherwise Aspire may not approve the transaction.

5.3 Domestic Payout Services

5.3.1 The Domestic Payout Services allow customers to make domestic payments from their Multi-currency Account to payees located in Australia

5.3.2 The types of payments supported via the Domestic Payout Services include:

domestic bank transfers to Australian bank accounts, including real-time or near real-time payments where available; and
other domestic electronic payment methods supported by Aspire from time to time.

5.3.3 Customers may set up recurring domestic payments to payees located in Australia via the Aspire Platform.

5.4 International Payout Services

5.4.1 The International Payout Services allow customers to make international payments from their Multi-currency Account to payees located outside of Australia.

5.4.2 The types of payments supported via the International Payout Services include:

SWIFT payments to international locations that Aspire supports from time to time and in currencies that Aspire supports from time to time; and
other international electronic payment methods supported by Aspire from time to time.

5.5 FX Conversion Services

5.5.1 The FX Conversion Services allow customers to convert one currency into another currency in connection with an international payment initiated by the customer via the Aspire Platform. The relevant currencies must be supported by Aspire in order for the customer to use the FX Conversion Services.

5.5.2 The applicable FX rates will be made available to customers via the Aspire Platform at the time the FX conversion is requested. The customer must promptly confirm the FX conversion at the FX rate quoted on the Aspire Platform. If the customer delays in confirming the FX conversion, the FX rate will refresh and may change each time the rate refreshes.

5.5.3 The FX Conversion Services do not include support for FX forwards, FX swaps or other complex FX transactions. The FX Conversion Services must not be used by customers for speculative FX purposes.

6. Significant benefits

Significant benefits of the Aspire Products may include:

6.1 Integrated solution. The Aspire Platform provides a single digital platform for managing account balances, card spend, FX and payments enabled by the relevant Aspire Product including the ability to use the Aspire Platform to access details of multiple entities associated with the customer.

6.2 Business‑oriented design. The features of the Aspire Platform are tailored to business use and include multi‑user access, expense management tools and transaction reporting which enhance the benefits of the Aspire Products.

6.3 Visa acceptance. Customers are able to make payments for goods or services using an Aspire Card as a convenient way of making payments anywhere Visa cards are accepted online and in-person.

6.4 Real‑time visibility and control. Online access to real‑time balances, transaction history and card controls regarding the Aspire Products via the Aspire Platform.

6.5 FX capabilities. Access to FX conversion capabilities via the FX Conversion Services to support the international business needs of customers who need to make payments in foreign currencies.

6.6 Funds accessibility convenience. You can use the Multi-currency Account to hold funds in supported currencies for use in relation to transactions regarding Aspire Cards, Domestic Payout Services, International Payout Services or FX Conversion Services.

7. Significant risks

The Aspire Products are subject to a number of risks, including but not limited to:

7.1 Unauthorised transactions and fraud. The credentials relating to the Aspire Platform may be lost, stolen or compromised, potentially resulting in unauthorised transactions and financial loss. You should take steps to protect the credentials you use to access the Aspire Platform as well as your Aspire Card details.

7.2 Operational and technology risk. System outages, network failures, cyber security incidents or maintenance downtime may affect your ability to access the Aspire Platform or Aspire Products from time to time. You may suffer loss or disruptions to your business operations as a result of such circumstances, especially where such issues persist for lengthy periods of time.

7.3 FX risk. Foreign exchange rates may move adversely between the time you initiate, or consider initiating, a transaction and the time it is processed. FX margins/spreads and external fees may be imposed by third‑parties (such as banks, payment service providers, correspondents or payment system operators), reducing the amount received by you or the payee (as applicable).

7.4 Counterparty and payment system risk. Transactions rely on third‑party banks, payment service providers, correspondents and payment systems. Delays, reversals, rejections or losses may occur beyond Aspire’s control. You may also suffer losses due to the insolvency of one of these third-parties (for example, where a third-party has only partly processed your payment at the time they become insolvent).

7.5 Regulatory and legal risk. Changes in applicable laws, regulations or payment system rules may affect the features, fees, availability or operation of the Aspire Products. This risk applies to all Aspire Products and particularly applies in relation to Aspire Products that facilitate international transactions given changes in laws or regulations may occur in any applicable jurisdiction.

7.6 Product suitability risk. The Aspire Products may not be suitable for all customers. For example, the Aspire Products will not be suitable for those seeking a financial product for personal or consumer use purposes, an interest‑bearing savings account or a credit facility. You should not apply for or use an Aspire Product if you wish to use them for a purpose that the product is not designed or permitted to be used.

7.7 Aspire’s liability. We limit our liability for unauthorised transactions and a range of other circumstances, which means that in some circumstances we may not be liable to you for losses caused by our system or equipment failure, payment fraud, third party delays or fees, and unauthorised transactions (including consequential and indirect loss).

7.8 Liability for authorised users. You are liable for any actions or transactions undertaken by your authorised users including cardholders. You should carefully consider whether to appoint someone as an authorised user of the customer and whether to issue an Aspire Card to a cardholder.

7.9 Mistaken payments. You should check all payment instructions you provide us carefully including the bank account details of the payee. After you have provided us with an instruction, we may be limited in our ability to cancel, amend or reverse the transaction. Any cancellation, amendment or reversal may also result in costs to you.

7.10 Delayed access to funds. In the event that Aspire suffers an insolvency related event, there is a risk you will experience a temporary delay in being able to access your funds until the relevant administrator takes control.

7.11 Loss of funds. If one or more of our bank or payment service provider partners suffer an insolvency related event, there is a risk you will experience a temporary delay in being able to access your funds until the relevant administrator takes control and, in extreme cases, there is a risk that you may not be able to recover some or all of the funds.

7.12 Suspended transactions. We have the right to suspend certain transactions in accordance with the Terms & Conditions including where your use of the Aspire Products is inconsistent with our Acceptable Use Policy or where we reasonably suspect illegal or other unauthorised behaviour involving the Aspire Products. You may suffer loss while we hold your funds for the duration of the suspension.

7.14 Termination. The Terms & Conditions allow us to terminate your use of the Aspire Products and the Aspire Platform in certain circumstances (for example, if your business activities are prohibited by our Acceptable Use Policy) . You will not be able to make payments or otherwise use the Aspire Products and the Aspire Platform if we exercise such termination rights. You may suffer loss as a result of not being able to use the Aspire Products or Aspire Platform.

7.15 Reversed transactions. We have the right to reverse certain transactions including where we reasonably suspect an Aspire Product transaction ought to be reversed as it was fraudulent or otherwise not authorised. You may suffer loss as a result of us reversing such transactions.

8. Fees

8.1 There are fees that you have to pay if you use the Aspire Products. A description of these fees is set out below. More information about these fees is set out in the Fee Schedule and the Terms & Conditions. You should consider this information and familiarise yourself with these fees before making a decision to use any Aspire Product.

Fee Type	Fee Description
Business Account Fee	This fee is payable if you subscribe for a premium account plan. This fee is charged to you on a monthly or annual basis, depending on the payment frequency you select.
FX Conversion Fee	This fee is payable if you use the FX Conversion Services. It is a margin incorporated into the foreign exchange rate we use to convert one currency into another currency. The amount of the margin depends on the currency pairs you are converting as a higher margin is charged for some currencies.
Domestic Transfer Fee	We do not charge you a fee if you use the Domestic Payout Services to make a payout to an Australian account.

Fee Type	Fee Description
Cross-Border Transfer Fee	This fee is payable if you use the International Payout Services to make a payout via SWIFT. The amount of the fee differs depending on whether you choose SHA or OUR, if that option is available to you at the time you submit a payout.
Foreign Transaction Fee	This fee is payable if you use an Aspire Card to make an online or in-person payment to a merchant who is located outside of Australia. This fee will also apply to online card payments where the merchant appears to be in Australia but accepts the payment outside of Australia. The fee is calculated as a percentage of the payment amount.
Virtual Card Issuance Fee	We do not charge you a fee for requests to issue you with a virtual Aspire Card.
Physical Card Issuance Fee	This fee is payable for each request to issue you with a physical Aspire Card.
Replacement Physical Card Issuance Fee	This fee is payable for each request to issue you with a replacement physical Aspire Card.
ATM Withdrawal Fee	This fee is payable each time you withdraw cash from an ATM using an Aspire Card.

Other fees may apply in relation to your use of Aspire services that are not financial products or financial services.

8.2 Aspire may change fees or introduce new fees by providing notice in accordance with the Terms & Conditions.

8.3 Taxes and government charges (such as GST) may apply and are payable by you in addition to the above fees.

8.4 You can ask us to provide you with a copy of this information by contacting us. Our contact details are set out in section 2 of this PDS. We will provide a paper copy or an electronic copy to you free of charge, if requested by you.

9. Taxation

9.1 The tax implications of using the Aspire Products will depend on the particular circumstances applicable to you. Aspire does not provide tax advice. You should consider seeking professional tax advice regarding the taxation consequences of using the Aspire Products.

9.2 You may be reasonably required by Aspire to submit certain information relating to your tax status in connection with local and international tax reporting obligations. You must promptly provide such information to Aspire when requested. If you do not, Aspire may suspend your ability to access and use the Aspire Products and Aspire Platform until you provide the requested information.

9.3 Taxes and government charges (such as GST) may apply and are payable by you in addition to the above fees.

9.4 The Customer shall pay all invoiced amounts to Aspire in full without set-off or deduction of any kind on account of taxes, including where applicable goods and services, value added and/or withholding taxes. Accordingly, Aspire shall be entitled to gross up its invoices to include applicable taxes.

10. How to apply and eligibility

10.1 To apply for the Aspire Products, customers must:

meet Aspire’s eligibility criteria (for example, being a business that is not restricted or prohibited by Aspire’s policies and procedures including the Acceptable Use Policy);
provide information and documents reasonably required by Aspire including where required pursuant to Aspire’s customer identification procedures; and
agree to the Terms & Conditions including the specific terms and conditions applicable to each Aspire Product that the customer intends to use.

10.2 Aspire may approve or decline any application at its reasonable discretion. Aspire may reasonably impose or vary limits and restrictions regarding the use of any Aspire Product as a condition of approving any application.

11. Statement information

Aspire will make account and transaction statement information available to customers electronically via the Aspire Platform. You should review account and transaction statement information regularly and notify Aspire promptly of any errors or unauthorised transactions.

12. Privacy

Aspire collects, uses and discloses personal information in accordance with its Privacy Policy, available at on its website via www.aspireapp.com/au. This may include disclosures to Aspire’s service providers, card schemes, payment partners, banking partners, fraud exchanges and/or regulatory bodies.

13. Complaints and dispute resolution

13.1 If you have a complaint, please contact us via one of the contact methods set out at the beginning of this PDS. We will acknowledge and handle your complaint in accordance with our internal dispute resolution procedures and applicable regulatory requirements.

13.2 If you are not satisfied with the outcome, or your complaint is not resolved within the required timeframe, you may be able to refer your complaint to the Australian Financial Complaints Authority (AFCA), an independent external dispute resolution scheme for financial services. AFCA provides free and impartial dispute resolution for consumers and small businesses.

13.3 AFCA’s current contact details include:

Website: www.afca.org.au
Phone: 1800 931 678
Email: info@afca.org.au
Mail: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001

13.4 Time limits may apply to lodge a complaint with AFCA. You should refer to the AFCA website for details.

14. Would you like more information?

If you would like more information, you can contact us via the details in section 2 of this PDS. You can also search our website or the Aspire Platform for more information.

Terms and Policies

Aspire Business Account

Product Disclosure Statement