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by Clayton Daniel, Financial Commentator

Around twelve months ago I
surveyed some 25 – 40 year olds as to what they wanted out of life and what
they wanted to avoid. I expected the results to reflect everything I had ever
read about Gen X and Y wanting to be rich, retire early on a passive income,
kick up the heels or go travelling around the world. The results however did
not reflect that expectation.

Instead of early retirement,
people wanted job satisfaction. Instead of wanting more money,
people wanted more time. Instead of perpetual travel, people
wanted something to show for their hard work.

“[Baby boomers] were taught safety and security was
purchased with the ownership of assets…..we have now seen the concept of
ownership go from the domain of security, to the realm of responsibility”

I was amazed at the findings. Had
I been lied to, or had no one simply done what I had done – gone to the
demographic and asked? What I realised is that over the last twenty years, a
lot has changed. In fact, that is an understatement, everything has
changed.

The baby boomers grew up with
parents from a war torn era. They were taught safety and security was purchased
with the ownership of assets. And that’s what the baby boomers did. They
bought. From homes to cars to fancy appliances. Ownership guaranteed freedom.

“Ownership takes time, it takes hard work, and it
removes instant gratification”

Gen Y on the other hand have
grown up in an economy of uninterrupted growth for the last 25 years. Add in
the growth of technology, and the boom of the sharing economy, and we have seen
the concept of ownership go from the domain of security, to the realm of
responsibility. Why own a car when Uber can pick me up from anywhere and take
me to anywhere I want to go. I don’t have to find parking, I don’t have to own
a depreciating asset, I don’t even need to worry about sobriety. More
convenience for a lower cost, where do I sign?

“Our brain is not built to handle so many things
competing for our attention”

This idea of access over
ownership has been a massive shift in the way we interact with the world.
Ownership takes time, it takes hard work, and it removes instant gratification.

And there is so much to be
instantly gratified by these days. Whether you Tinder your way through the
weekend, Netflix binge your new favourite series, or stream a new album on
Spotify, whatever you want these days you can have it. Immediately.

The problem is, these new
services comes with a time cost. And despite the amazing complexity of our neo
cortex to create fully functioning and (mostly) rational humans, we still
haven’t outpaced our 200,000 year history. Put simply, our brain is not built
to handle so many things competing for our attention.

Even a couple of hundred years
ago it was simply:

a) Is there food?

b) Is there water?

c) Is there shelter?

If all three are checked, you
were good.

These days our tick boxes are a
lot more complex. Does your boss like you, did you choose the right career
path, and is there kale in your green smoothie?

“You adapt, and create shortcuts to get big results
from little changes. And my pro tip is automation”

Our brains are so exhausted by
these open loop questions, when you add on the fact we are working longer than
ever, and filling every other second we aren’t indulging our senses with a
social media hit, it’s no wonder some of us are feeling under the pump.

But this is modern day life, you
can’t avoid it. And saying ‘let’s go back to the old days when it was better’
is redundant advice. Instead you adapt, and create shortcuts to get big
results from little changes. And my pro tip is automation.

“Once we remove ourselves from needing to make
every single financial decision, we can free our minds up to focus on what we
should be giving attention to”

Research tells us all these
distractions and interruptions require us to make decisions every day. And each
of these decisions saps you of your ability to make good decisions. It’s called
decision fatigue and explains why over the course of a day, your decisions get
worse. Judges make worse decisions in the afternoon compared to the morning,
people buy useless extras at car dealerships, and we are susceptible to
‘impulse purchases’ at the checkout. Therefore, the lower amount of decisions
you make, the higher your ability to make good decisions.

“One of the best things you can do with your money
is to set it all up on automation”

So when the results of the survey
I conducted came back, I realised what people needed was a way to deal with
modern life. With so many things competing for your attention, how is it
possible to make the best decisions? What I found was the more decisions were
set to automation in the background, the better the results were for every
other part of life.

Once we remove ourselves from
needing to make every single financial decision, we can free our minds up to
focus on what we should be giving our attention to: performing better at our
jobs, making time with family, and finding new experiences.

“[Raiz] hits the spot on two fronts, access and
automation”

After implementing this theory
for a few years and seeing the results, I am convinced; one of the best
things you can do with your money is to set it all up on automation. I
don’t know when my rent is paid, how much I have for my next holiday to New
York in August, or whether my long term asset base is getting larger, all I
know is it is. Why? I don’t control it. It’s all on automation.

In no small way, this is why Raiz
has been as successful as it has been. It hits the spot on two fronts, access
and automation. It’s easy for me to see my investments as I can access them
right on my phone, and secondly I don’t have to do anything, the money is
deposited into my account with every purchase. For more information on Raiz fees, click here.For more information on Raiz fees, click here.

Avoid decision fatigue and
outsource to automation. Go spend your time on things that matter.

Clayton Daniel, Financial Commentator

You can start using Raiz at any time by clicking this link!

Important Information

The information on this website is general advice only. This means it does not consider any person’s investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the Raiz product.

The information in this website is confidential. It must not be reproduced, distributed or disclosed to any other person. The information is based on assumptions or market conditions which change without notice. This will impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz.

Past return performance of the Raiz product should not be relied on for deciding to invest in Raiz and is not a good predictor of future performance.

Read Post

The buzzword “mindfulness” seems
to be everywhere at the moment. Whether you are using a mindfulness app or practicing
mindfulness through meditation and yoga – the trend of mindfulness is hard to
miss.  Mindfulness is usually discussed in terms of achieving spiritual
and emotional awareness, often ignoring the more practical applications it can
provide.  Financial mindfulness will lower your anxiety, focus your
approach and save you money.

The principle behind being
mindful in May is spending 10 minutes a day practicing meditation, and at Raiz
we believe this should be applied to being mindful with your money. With the
End of Financial Year just around the corner, May is the perfect time to
concentrate on being mindful about spending and saving.  This May
designate some time to not just develop a financial plan, but reflect on your
saving goals, research into investment options, and be mindful about what you
are spending your money on.

You can become a master, rather
than a slave to your money with these easy tips:

1.
Track your expenses manually:

Instead of painfully examining
your bank statements at the end of the month, try tracking your purchases
manually as you make them. A good way to do this is to write down what you
spend whilst you are making the transactions.  Awareness starts in
realizing how much and what you’re spending money on. By getting in the habit
of tracking your expenses, you’ll become more aware of your purchases and what
they mean for your overall financial health.

2.
Set a waiting period:

It is so easy in the digital age
to buy something without considering if you really need it. With PayPal and
Paywave shopping can be such a mindless activity, and it’s not till you receive
your bank statement that the guilt sinks in.  To stop yourself from
spending in a vacuum, set a waiting period of at least 24 hours to decide if
your purchase is really a necessity. The age old advice of ‘sleep on it’ can
really make a difference when it comes to impulse purchases.

3.
Realise what the trade-offs are:

It is easy to spend money if you
are not aware of what you are sacrificing in the long run.  For example,
spending $100 eating out a week, or buying an unnecessary item of clothing may
not seem like a big deal, but in the long run $100 can go towards paying off a
stressful debt, or starting a saving fund for a well-deserved relaxing holiday.
It may seem difficult to practice self-control, but challenge yourself
for the month of May. Bring your own lunch to work, or meet a friend for a walk
in the park on the weekend rather than for a drink.  

Make May your month to reflect on
and develop your mental and financial health!

You can start using Raiz at any time by clicking this link! For more information on Raiz fees, click here.

Important Information

The information on this website is general advice only. This means it does not consider any person’s investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the Raiz product.

The information in this website is confidential. It must not be reproduced, distributed or disclosed to any other person. The information is based on assumptions or market conditions which change without notice. This will impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz.

Past return performance of the Raiz product should not be relied on for deciding to invest in Raiz and is not a good predictor of future performance.

Read Post

Raiz
is a micro-investment app looking to bring a new, natural approach to saving
and investing. The concept behind Raiz is simple; by starting small,
contributing often and committing long-term, anyone can achieve “financial
well-being” and reach their saving goals. What is revolutionary about Raiz is
that it is a micro- investing platform that allows you to get fully invested in
a basket of ETFs quoted on the ASX for as little as $5. This provides first
time investors with the tools to make small contributions easily, regularly and
cost efficiently.

With low
maintenance fees of $3.50 a month, using Raiz for a year can cost less
than some traditional brokers charge for a trade. Furthermore, with Raiz there
are no exit fees, switching fees, brokerage fees and withdrawing money from
your account takes a couple of swipes.  For as little as $5, anyone can
now own a diversified portfolio of stocks. We also believe in the financial
education of all Raiz customers; a lack of knowledge shouldn’t be a
barrier to investing; this is why we make the app easy to use, provide
real-time information on your investments, and give everyone a chance to learn
about markets through the app and through Raiz content.

These
are the three easy ways to get invested with Raiz:

Round-ups

This
key innovative feature links spending to savings.  People invest small
change every day without even thinking about it.  Raiz makes it possible
to link your credit and debit cards and then round up the virtual change from
every transaction.  A virtual “piggy bank”.

Automatic
Investments

Raiz
also makes it easy to set up recurring deposits on a daily, weekly, or monthly
basis.  Setting up automatic investment can be done in seconds through the
app, and is great for maintaining a regular savings plan.

Lump
Sums

Our
users can also invest any amount, at any time, with a simple lump sum
investment.

With
these unique ways to fund your account, Raiz is creating an entirely new
approach to saving and investing your money.

 Invest with Raiz today

Important Information

The information on this website is general advice only. This means it does not consider any person’s investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the Raiz product.

The information in this website is confidential. It must not be reproduced, distributed or disclosed to any other person. The information is based on assumptions or market conditions which change without notice. This will impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz.

Past return performance of the Raiz product should not be relied on for deciding to invest in Raiz and is not a good predictor of future performance.

Read Post

Thinking about starting your
portfolio? Or maybe you’re already a small time investor looking for a little
more education. Either way, there’s no shame in not knowing all the ins and
outs of markets. And sometimes, just getting familiar with the most basic
concepts is all you need to make you feel more comfortable investing.

With that in mind we’ve got 5
investing basics to start you off:

1.       OWNING
A COMPANY (OR AT LEAST A LITTLE BIT OF ONE)

When you purchase a share on the
stock market you may ask, what am I actually buying? You know
your money has gone somewhere, but other than some documentation you don’t get
much back. So it’s a good question to ask.

The answer: You own a percentage
of the company (or companies) of the stock that you just bought.

If a company has 100 shares and
you buy 50, you own 50% of that company.

If you buy 10, you own 10%.

If you buy 1, you own 1%.

You’ll usually own much, much
smaller percentages than that, but no matter how much you own, if you have a
share you have a legal stake in that company.

2.       THE
MARKETS CAN GO UP AND DOWN

One of the greatest myths of the
stock market is that they usually go in one direction, up. We can very much
bust that myth and tell you they also go down.

Over days, weeks, months, and
years the markets can move in both directions. This is important to
bear in mind to avoid nasty surprises.

Read more: Dollar-cost
averaging

3.       DIVIDENDS

You’ve probably heard of
dividends, and you’re definitely forgiven for not knowing what they are.

Dividends are a portion of a
company’s earnings, paid to their shareholders. Usually a way for shareholders
to enjoy company profits.

If you own 10 shares of a
company, and they pay a dividend of $1 per share, you get $10 ($1
x 10)

Read more: What is a dividend?

4.       INVESTING
IS FOR EVERYONE

You’d be forgiven for thinking
that you need a fancy suit and a degree in finance to invest in the stock
market. However, you don’t. Anyone can invest in publicly
listed companies, because they are as the name suggests, public! Just like
kicking a ball around with your mates on a public oval.

We suggest you do your research
and think about your personal situation before making any investment decision.
With apps like Raiz around anyone can invest, any time they want, with as
little as $5. For more information on Raiz fees, click here.

Read More: Unique Ways to
Invest with Raiz

5.       ROME
WASN’T BUILT IN A DAY

This isn’t the Wolf of Wall
Street, and sadly we’re not Leonardo DiCaprio. When most people invest they
don’t do it to get rich quick. Building a portfolio and letting it grow takes
time, but like much of life, good things come to those who wait…

… but don’t wait until tomorrow
to start investing. Now you know the basics you can start building your
portfolio today!

Important Information

The information on this website is general advice only. This means it does not consider any person’s investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the Raiz product.

The information in this website is confidential. It must not be reproduced, distributed or disclosed to any other person. The information is based on assumptions or market conditions which change without notice. This will impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz.

Past return performance of the Raiz product should not be relied on for deciding to invest in Raiz and is not a good predictor of future performance.

Read Post

We
get a lot of questions about why it takes so long for a balance to appear in Raiz
accounts after hitting deposit, so to explain this we thought we’d break this
process down step-by-step, and how long these steps take.

Read Post

It’s
probably not going to be the most interesting thing you do this year, but
building a budget could be one of the most important… and it doesn’t really
take that much effort. Here’s 4 quick reasons you should take an hour out of
your busy schedule to build a budget:

1)      Gets
You Thinking

It’s
too easy to live your life on autopilot these days. When you can use your card
just about anywhere it’s easy to forget just how much you are spending, and
what you are spending it on. If anything, writing out a budget gets you
thinking about what you’re currently spending your hard earned money on, and
what you actually want to be spending it on.

2)      No
Nasty Surprises

Not
only will an effective budget tell you what you’re spending money on, but also
when you are spending it. This can’t help avoid nasty surprises in your bank
account when you have to pay your phone, electricity, rent, gym membership or
any other kind of bill as many of us do.

3)      Forward
Planning

Having
a budget allows you to look not only to tomorrow, but to the coming weeks, months,
and years. It allows you to plan a path to financial fitness, and identify what
you need to do to get there.

4)      Old
Habits Die Hard

Even
if it’s not the most pressing issue, developing a disciplined saving plan is
always important. If you get into the groove of keeping a track of your
spending habits, it’ll be all the more easy when you have a bigger, more
complicated budget to deal with.

So
if you have a bit of spare time this week, try building a budget, and be sure
to let us know on Facebook and Twitter of any tips you have!

You can start using Raiz at any time by clicking this link! For more information on Raiz fees, click here.

Important Information

The information on this website is general advice only. This means it does not consider any person’s investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the Raiz product.

The information in this website is confidential. It must not be reproduced, distributed or disclosed to any other person. The information is based on assumptions or market conditions which change without notice. This will impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz.

Past return performance of the Raiz product should not be relied on for deciding to invest in Raiz and is not a good predictor of future performance.

Read Post

4 March 2016

The Hon. Malcolm Turnbull,
MP

Prime Minister

Parliament House

Canberra ACT 2600

Dear
Prime Minister,

Establishment of the FinTech Advisory
Group

I write to congratulate the Australian
Government on its decision to establish a FinTech Advisory Group, and I
continue to welcome the increased focus on encouraging innovation in Australia,
particularly in the FinTech sector.  As
an active member of this community, and having recently launched our Acorns
product in Australia, I have experienced first-hand the dramatic surge in
activity in this industry, and I look forward to its continued growth.

That said, I strongly believe there is
major issue that, if left unresolved, will prevent FinTech innovation and
competition achieving its full potential in Australia.

It is my contention there is lack of
understanding and confusion in the public mind that they are no longer
protected by Australian regulations, and that the liability protections under
the terms and conditions on which they conduct their internet banking do not
apply when they deal with FinTech start-ups such as ourselves.  This
is not the case.

I am concerned and disappointed to see
banks and other financial institutions seek to discourage users from engaging
with FinTech by exacerbating the confusion and fear in this area.

It should not fall upon the small start-ups
to educate investors about their rights and obligations vis-à-vis their banks,
and it should not fall upon small start-ups to monitor the information that is
being disseminated to consumers by bank employees.

To explain this more specifically, Acorns
is a micro investing / micro savings smartphone application. When a user signs up
to the app, they provide Acorns (and its service provider Yodlee) with their
bank account log-on details and password. There has been significant media
commentary (both social and mainstream),
including comments made by persons who purport to be bank employees, that by
doing this, the user becomes liable for any
unauthorised transactions. As you would expect, these type of comments are
creating great consternation and discouraging users from engaging with FinTech
companies, such as Acorns.

However, this commentary, and the stance
taken by the purported bank employees, is wrong. It is clear under the ePayments Code (Code) (which all major Australian banks have subscribed to) that
the user will not be liable for any unauthorised transactions because:

(a)
the user expressly appoints
Acorns and Yodlee to collect information on the user’s behalf only (i.e. Acorns
and Yodlee have “read only” access to the user’s bank account. They cannot effect transactions); and

(b)
Acorns and Yodlee protect the
data using encryption and bank standard security measures to keep it safe.

Consequently, the user does not breach the requirements of the
Code, nor the terms and conditions of their bank contract and does not become liable for any and all unauthorised transactions.

I would urge the FinTech Advisory Group and
ASIC to consider this issue, given their mandate to encourage FinTech
innovation, while reducing barriers and ensuring that these barriers are not
(mis)used by incumbent players to discourage competition. Unless this issue is
resolved, I believe it will stunt the development of FinTech, an integral part
of the Innovation strategy recently articulated by you.

Please be aware that we will release a copy
of this letter to our users (of which there are over 50,000) and to the media
at large.

Should you wish to discuss this matter
further or if you have any questions or comments, please contact me on 1300 954
678.

Yours faithfully

George
Lucas

Managing Director

Acorns Grow Australia
Limited

Read Post

We’ve received a lot of questions regarding
the legality of submitting one’s personal bank login details to Raiz in order
to use our Round-Ups feature, so we thought we would try to explain the
ePayments Code, which the Australian Securities & Investment Commission
(ASIC) administers on behalf of its subscribers, the banks and institutions. To
see if your financial institution is a subscriber, you
can view a list on ASIC’s website.

We recommend you keep reading, but if
you can’t be bothered with the legal mumbo jumbo, here’s the take home message:

Having researched ASIC’s ePayments code, we can tell you
that using your internet banking login details with Raiz should not void any
terms and conditions with your bank.

To quote ASIC’s site directly:

“Almost all banks, credit unions and building societies
in Australia are subscribers to the ePayments Code. Other providers of consumer
electronic payment facilities such as PayPal have also subscribed to the code.

Among other things, the ePayments Code:

·
requires subscribers to give consumers clear and unambiguous terms
and conditions,

·
stipulates how terms and conditions changes (such as fee increases),
receipts and statement need to be made

·
sets out the rules for determining who pays for unauthorised
transactions, and;

·
establishes a regime for recovering mistaken internet payments.”

Most of the questions we have received come
from customers who believe that entering one’s login details into the Raiz app will make
them liable for any losses in their account. This is false.

Entering banking login details into the
Raiz app to create round-up opportunities will not see you become liable for unauthorised transactions because:

(a) the user expressly
appoints Raiz and Yodlee to collect information on the user’s behalf only (i.e. Raiz and Yodlee have “read only” access to the user’s bank account.
They cannot effect
transactions); and

(b) Raiz and Yodlee
protect the data using encryption and bank standard security measures to keep
it safe.

Raiz uses industry-standard security like
256-bit SSL encryption of sensitive information, redundant backups, and
disaster recovery planning. Even in the incredibly unlikely event that all
these measures fail, customers of Raiz are insured against fraud &
cyber-crime. This insurance does not invalidate the liability of your financial
institution, so you are protected against liability and loss.

In conclusion, Raiz and its use of a
transaction aggregator to retrieve round-ups on your behalf, we believe, is in compliance
with ePayments Code as outlined by ASIC. You will not be forfeiting any
protection by using your online login with Raiz. Stay safe out there, and
continue to be smart about with whom you share your sensitive information.

We appreciate your trust and loyalty. We
promise never to abuse it.

Source:
ePayments Code – http://asic.gov.au/for-consumers/codes-of-practice/epayments-code/

Relevant excerpts below:

unauthorised
transaction means a transaction that is not
authorised by a user

…

9 Scope Transactions not authorised by a
user

9.1 This Chapter applies to unauthorised
transactions. It does not apply to any transaction that is performed by a user
or by anyone who performs a transaction with the knowledge and consent of a
user.

…

10 When holder is not liable for loss

10.1 A holder is not liable for loss arising
from an unauthorised transaction if the cause of the loss is any of the
following:

(a) fraud or
negligence by a subscriber‘s employee or agent, a third party involved in
networking arrangements, or a merchant or their employee or agent,

(b) a device, identifier
or pass code which is forged, faulty, expired or cancelled,

© a
transaction requiring the use of a device and/or pass code that occurred before
the user received the device and/or pass code (including a reissued device
and/or pass code),

(d) a transaction
being incorrectly debited more than once to the same facility, and

(e) an
unauthorised transaction performed after the subscriber has been informed that
a device has been misused, lost or stolen, or the security of a pass code has
been breached.

10.2 A holder is not liable for loss
arising from an unauthorised transaction that can be made using an identifier
without a pass code or device. Where a transaction can be made using a device,
or a device and an identifier, but does not require a pass code, the holder is
liable only if the user unreasonably delays reporting the loss or theft of the
device.

10.3 A holder is not liable for loss
arising from an unauthorised transaction where it is clear that a user has not
contributed to the loss.

…

12 Pass code security requirements

Pass code security

12.1 Clause 12 applies where one or more
pass codes are needed to perform a transaction.

12.2 A user must not:

(a) voluntarily
disclose one or more pass codes to anyone, including a family member or friend,

(b) where a
device is also needed to perform a transaction, write or record pass code(s) on
a device, or keep a record of the pass code(s) on anything:

(i) carried with
a device, or

(ii) liable to
loss or theft simultaneously with a device, unless the user makes a reasonable
attempt to protect the security of the pass code, or

© where a
device is not needed to perform a transaction, keep a written record of all
pass codes required to perform transactions on one or more articles liable to
be lost or stolen simultaneously, without making a reasonable attempt to
protect the security of the pass code(s).

12.3 For the purpose of clauses
12.2(b)–12.2©, a reasonable attempt to protect the security of a pass code
record includes making any reasonable attempt to disguise the pass code within
the record, or prevent unauthorised access to the pass code record, including
by:

(a) hiding or
disguising the pass code record among other records,

(b) hiding or
disguising the pass code record in a place where a pass code record would not
be expected to be found,

© keeping a
record of the pass code record in a securely locked container, or

(d) preventing
unauthorised access to an electronically stored record of the pass code record.
This list is not exhaustive.

12.4 A user must not act with extreme
carelessness in failing to protect the security of all pass codes where extreme
carelessness means a degree of carelessness that greatly exceeds what would
normally be considered careless behaviour.

Note 1: An example of extreme carelessness
is storing a user name and pass code for internet banking in a diary,
BlackBerry or computer that is not password protected under the heading
‘Internet banking codes’.

…

12.9 Where a subscriber expressly or
implicitly promotes, endorses or authorises the use of a service for accessing
a facility (for example, by hosting an access service on the subscriber’s
electronic address), a user who discloses, records or stores a pass code that
is required or recommended for the purpose of using the service does not breach
the pass code security requirements in clause 12.

Note 1: For example, if a subscriber
permits users to give their pass code(s) to an account aggregator service
offered by the subscriber or an associated company, a user who discloses their
pass code(s) to the service does not breach the pass code security requirements
in clause 12.

13 Pass code security guidelines

13.1 A subscriber may give users guidelines
on ensuring the security of devices and pass codes in their terms and conditions
or other communications.

13.2 Guidelines under this clause must:

(a) be
consistent with clause 12,

(b) clearly
distinguish the circumstances when holders are liable for unauthorised
transactions under this Code, and

© include a
statement that liability for losses resulting from unauthorised transactions
will be determined by this Code, rather than the guidelines.

…

15 Network arrangements

15.1 In clause 15:

merchant
acquirer means a subscriber that provides a service
to merchants that enables them to accept/receive electronic payments

party
to a shared electronic payments network includes
retailers, merchants, communications services providers and other organisations
offering facilities, merchant acquirers and subscribers

15.2 A subscriber must not avoid any obligation
owed to users under this Code on the basis that:

(a) it is a
party to a shared electronic payments network, and

(b) another
party to the network caused the failure to meet the obligation.

15.3 A subscriber must not require a user
who is their customer to:

(a) raise a
complaint or dispute about the processing of a transaction with any other party
to a shared electronic payments network, or

(b) have a
complaint or dispute investigated by any other party to a shared electronic
payments network.

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Important Information

The information on this website is general advice only. This means it does not take into account any person’s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the product.

A Product Disclosure Statement for Raiz Invest and/or Raiz Invest Super are available on the Raiz Invest website and App. A person must read and consider the Product Disclosure Statement in deciding whether, or not, to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.

The information may be based on assumptions or market conditions which change without notice. This could impact the accuracy of the information.

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.

Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.

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