What are the fees associated with using Spriggy's Prepaid Card and Parent Wallet? (Spriggy Financial Services User Guide)

Answer

manuals.plus

Jan 16, 2025 - 12:26 AM


Spriggy charges an annual membership fee for its services in connection with the Prepaid Card and Parent Wallet issued by Indue Limited. The fees are as follows:

1. Annual Spriggy Membership Fee:
- For parents on the Per Child Pricing Plan: $30 per child.
- For parents on the Family-based Pricing Plan: $60 per parent and up to four (4) children, with an additional $10 per child for any additional (fifth or more) children.

In addition to the membership fee, Spriggy also receives fees from Indue for other services it provides, including:

1. Cancellation Fee: Up to $10 in certain circumstances where a Parent's or Additional Parent User's Parent Wallet is cancelled.
2. Prepaid Card Replacement Fee: $10 per replacement Prepaid Card (except where a replacement Prepaid Card is issued upon expiry of a Prepaid Card in accordance with the Product Terms and Conditions).

Furthermore, Spriggy receives a portion of the interest earned on the value stored on the Parent Wallet and Prepaid Cards. The amount of interest received is calculated as X% of the value stored, where "X" is equal to the official cash rate determined by the Reserve Bank of Australia minus 0.25%. Interest is calculated daily.

For more detailed information on these fees, please refer to the Product Disclosure Statement (PDS) and Product Terms and Conditions issued by Indue, which can be downloaded from the Spriggy website at www.spriggy.com.au/terms.