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MYOB’s Payment Service Financial Services Guide

About this document

This Financial Services Guide (‘FSG’) is an important document prepared and provided by MYOB Australia Pty Ltd ABN 13 086 760 198 (‘MYOB’, ‘we’, ‘us’ or ‘our’). Our contact details are set out on the last page of this FSG. This FSG only sets out the range of financial services and the type of financial product that we are authorised to provide under our Australian financial services licence 241 059 (‘AFSL’) in relation to MYOB’s Payment Service (which is a payment processing and disbursal facility). If we provide you with other financial services, we may provide you with a separate FSG containing information relevant to those services.

The purpose of the document is to inform you of those matters required under the Corporations Act 2001 Cth (‘Act’) and the regulations made pursuant to the Act (‘Regulations’) and to assist you in deciding whether to use the financial services we provide in relation to MYOB’s Payment Service. It includes information about:

  • how we and our associates are remunerated in relation to the services offered in relation to MYOB’s Payment Service; and

  • our internal and external complaints handling procedures and how these are available to you.

This FSG should be considered alongside the Product Disclosure Statement (‘PDS’) for MYOB’s Payment Service, which is available at The PDS includes additional information to enable you to make an informed decision
about using MYOB’s Payment Service. The PDS includes details of the key features, fees, benefits and risks associated with MYOB’s Payment Service.

Financial services and products MYOB is authorised to provide


  • general financial product advice in relation to deposit and payment products limited to non-cash payment products;

  • issue, apply for, acquire, vary or dispose of deposit and payment products limited to non-cash payment products; and

  • apply for, acquire, vary or dispose of deposit and payment products limited to non-cash payment products on behalf of another person, to retail clients.

These services will be provided by us in relation to MYOB’s Payment Service, which is a financial product, being a non-cash payment product. The financial services provided by MYOB in relation to MYOB’s Payment Service include marketing MYOB’s Payment Service, providing recommendations and opinions regarding using MYOB’s Payment Service, and making MYOB’s Payment Service available to clients.

To the extent any information we provide to you is financial product advice, such advice is general advice only and has been prepared without taking into consideration your objectives, financial situation or needs. You should consider your needs prior to acting on any advice or making any financial decisions and seek independent financial advice regarding your own
personal circumstances.

You can cease using the Payment Service at any time however cooling-off rights do not apply to a particular transaction once it has been commenced.

Who does MYOB act for when providing the financial services?

We act as principal when providing financial services, and not on behalf of any client or service provider. We are responsible for the financial services we provide to you under our AFSL.

What is our relationship with First Data Merchant Solutions Australia Pty Ltd ('First Data')?

We have engaged First Data to help provide MYOB’s Payment Service. First Data provides ‘acquiring services’ for MYOB’s Payment Service. This means that First Data acquires the electronic transactions made through MYOB’s Payment Service for payment organisations and networks. This activity is necessary to provide MYOB’s Payment Service. We pay First Data a fee per transaction processed through MYOB’s Payment Service.

Client instructions and communications

Our role in making MYOB’s Payment Service available to our clients will include:

  • communicating to eligible clients about the availability and features of MYOB’s Payment Service;

  • facilitating the up-front client registration process including provisioning, maintaining and hosting an online registration portal, and providing the PDS for MYOB’s Payment Service;

  • providing the payment processing and disbursal functionality used by clients to effect transactions; and

  • providing help desk support and communication to clients using MYOB’s Payment Service.

  • Clients can give us instructions or communicate with us by using the contact details set out on the last page of this FSG. Generally, clients need to give us instructions in writing via email, or another method as agreed between the client and MYOB.

Remuneration for the services we provide

MYOB charges fees for each transaction made through the Payment Service. Those fees vary depending on whether you use a debit or credit card. Full disclosure of fees can be found in the PDS in the section titled ‘What are the costs?’.

MYOB staff do not receive any proportion of fees or commissions paid in connection with MYOB’s Payment Service referred to in this PDS. Staff members may be entitled to receive additional monetary or non-monetary rewards resulting from programs run by MYOB. Additional monetary benefits or rewards may include an annual bonus, the level of which may depend on the overall performance of both MYOB and the staff member. Non-monetary rewards may include things such as film tickets or gift vouchers.

You may request particulars of the remuneration or other benefits set out above but you must make such a request within a reasonable time of being given this FSG and before we provide you with any financial service described in it.

Conflicts of interest

We do not have any relationships or associations which influence us when providing you with our services.

Compensation and insurance arrangements

We hold a professional indemnity insurance policy (‘the Policy’), which satisfies the requirement for compensation arrangements under section 912B of the Corporations Act.

Subject to its terms and conditions, the Policy provides cover for civil liability resulting from third party claims concerning the professional services provided by us and our employees and representatives. The Policy covers professional services provided by employees and representatives of MYOB while they are in our employ, even where that employee or representative has subsequently left our employ.

What to do if you have a concern?

Contacting us – You are entitled to enquire into or complain about the services you receive from us in relation to MYOB’s Payment Service. You should contact us immediately if you suspect an error has occurred in a transaction or if you experience any other problems concerning the use of MYOB’s Payment Service. You should do this by either calling MYOB’s support team, emailing us or by writing to us. Our full contact details are set out at the end of the FSG.

What we will do – We will promptly look into your concern and decide what course of action should be taken. We will seek to resolve your concern immediately, however if that is not possible, we will aim to resolve it within 5 business days. If this is not possible, we will keep you informed of progress and how long it is expected to take to resolve.

If you are not satisfied with our response? – If you are not satisfied with the response we give you to resolve your concern, you have the option of contacting the following independent external complaints resolution scheme of which MYOB is a member:

The Australian Financial Complaints Authority



Phone: 1800 931 678 (free call within Australia), 9:00am – 5:00pm AEST weekdays

Mail: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001


You consent to us collecting, using and disclosing your personal information for the purpose of making MYOB’s Payment Service, and associated services that you request, available to you. We value your privacy. You can read more about how we protect and handle your personal information in the MYOB Group Privacy Policy, found on our website.

Contacting Us

Phone: 1300 783 674


Office address: Level 3/168 Cremorne St, Cremorne VIC 3121

Postal address: MYOB Australia Pty, Ltd PO Box 371, Blackburn VIC 3130