On 17 April 2024, Cryptospend Pty Ltd commenced operating under the name of “Wayex”. This is a change in the business name of Cryptospend Pty Ltd and the entity remains the same. References to “Cryptospend” in the Product Disclosure Statement dated 18 October 2023 have been updated to “Wayex”.

Product Disclosure Statement - Wayex Prepaid Visa Card
CryptoSpend PTY LTD (ABN 12 630 245 813) is trading as Wayex (“Wayex”)

About this Product Disclosure Statement

This Product Disclosure Statement (‘PDS’) is issued by Flexewallet Pty Ltd ABN 16 164 657 032 AFSL 448066 (‘Issuer’).This PDS is designed to assist you in deciding whether to acquire the Wayex Visa Prepaid Card (‘Card’).It is important that you read and understand this PDS. The information in this PDS does not take into consideration your individual financial situation, objectives, or needs. Prior to making any decision about the Card or whether to acquire it, you should consider whether this product is right for you. Any advice in this PDS is general advice only. You should consider the appropriateness of any general advice to your own circumstances before acting on it. For more information on the Wayex Visa Prepaid Card, please visit https://wayex.com This PDS is dated 18 October 2023.

Updates relating to this PDS

Information in this PDS that is not materially adverse information may be subject to change from time to time. This updated information will be available at https://wayex.com and will be accompanied by a statement explaining the changes. The information which the Issuer will make available by way of these updates may change from time to time.

General Description of Product

The Product is a Reloadable Visa Prepaid Card. The Wayex App Can can be loaded with supported cryptocurrencies or Australian Dollars held within the Wayex App. The customer can access the balance(s) of any cryptocurrencies or AUD anywhere Visa is accepted for purchases. The value of the cryptocurrency balance is represented/expressed in terms of AUD, however the funds remain held in cryptocurrency until point of sale. The product is not a credit or a charge Card, and the Card balance does not earn any interest. The acquisition of, or value loaded to the Card does not represent a deposit with, or investment in any of the parties involved in this product. The rate at which the cryptocurrency is quoted against AUD is retrieved from one of Wayex OTC partners. These quotes may vary due to the volatility of the market. The price displayed on the screen at the time of transaction is the offered rate once a transaction is executed. This only applies when using any product of the application that involves cryptocurrency. Any Australian dollars usage in the app is quoted in Australian dollars. By using cryptocurrency on your Wayex Visa card, you irrevocably authorise Wayex to sell your cryptocurrency at the prevailing rate at the time of the purchase or pre-authorisation. The sale of cryptocurrency is subject to potential market fluctuations and you may be subject to these variations against the Australian Dollar at the time of the transaction. The rate of exchange for the cryptocurrency may be different at the time of pre-authorisation and at settlement, and the rate of exchange of the cryptocurrency sold can also change within this time. You authorise Wayex to sell your cryptocurrency at the prevailing rate of exchange when it is settled if there is any difference between the settlement amount and the pre-authorisation amount.

Card Issuer

The Card Issuer is Novatti Group Limited  ABN 98 606 556 183, pursuant to a licence by Visa WorldWide Pte Limited., Wayex is an Authorised Representative of Flexewallet Pty Ltd, ABN 16 164 657 032 (AFSL 448066) which holds an Australian Financial Services Licence (AFSL 448066), the issuer of this PDS.) authorising it to deal in, and provide general financial product advice in relation to, Non-Cash Payment Products, including this Wayex Visa Prepaid Card. The Issuer is authorised to issue this Wayex Visa Prepaid Card under an arrangement with VISA Worldwide Pte Ltd (‘VISA’).

By acquiring this Card, you are entering into a contractual relationship with the Issuer, not with VISA Worldwide Pte Ltd or any of the parties involved in this product.

Flexewallet can be contacted by:
Mail: G.P.O Box 171, 380 Bourke St, Melbourne VIC 3001 Australia
Email: admin@flexewallet.com

Product Distributor and Promoter

CryptoSpend Pty Ltd (ABN 12 630 245 813) (trading as Wayex) (‘Wayex”) is authorised under a signed agreement with the Issuer to act as the Program Manager for the Card. CryptoSpend (001303262) (trading as Wayex), is an authorised representative of Flexewallet Pty Ltd’s AFSL and is the distributor and promoter of the Card. Wayex is responsible for providing certain cardholder services to you, including providing you with your Card, arranging for a replacement Card to be issued to you in accordance with the terms set out in this PDS, providing lost and stolen services and assisting you with any queries you may have regarding you use of your Card. Wayex can be contacted via:
Website: https://wayex.com
Email: support@wayex.com
Mail: PO Box 1182, Broadway 2007

Other Parties

Australia & New Zealand Banking Group Limited ABN 11 005 357 522 AFSL 234527 (‘ANZ’) is an authorised deposit-taking institution (‘ADI’) holding authority to carry on a banking business in Australia. All funds will be settled through the Issuers ANZ bank account.
Split Payments Pty Ltd (ACN: 604 057 598) (‘Split Payments’) is an Authorised Representative (number 1282223) of Amplus Global Pty Ltd (ACN  162 631 325), who is the holder of AFSL no.  505929. Split Payments is an intermediary in the settlement process.

Wayex is not the Issuer

Wayex is not the issuer of the Card and does not have authority to:

  • Tell you anything about the Card that is inconsistent with the information in this PDS;
  • Give you financial product advice (that is, a recommendation or statement of opinion intended or that could be reasonably regarded as being intended to influence you in making a decision) about the Card; or
  • Do anything else on Flexewallet’s behalf, other than marketing, arranging for the issue of and providing customer services for the Card.

If you have been told anything that is inconsistent with this PDS, or if you have been given any financial product advice by Wayex or anyone seeming to act on behalf of Flexewallet, you should NOT rely on it in making any decisions about the Card. You should only rely on what is in this PDS.

Significant Benefits of the Product

There are some significant benefits to you associated with use of the Product, including:

  • The Product is a VISA Prepaid Card, which means that it can be used to buy goods and services from merchants in Australia and around the world that accept VISA Cards for electronic transactions.
  • The Card can be used to make purchases in other currencies.
  • The Card can be used to spend up to $10,000 Australian Dollars (‘AUD’) worth of cryptocurrency at any one time.
  • The Card can be used to make purchases online from merchants that accept VISA Prepaid Cards for electronic transactions.
  • The Card is reloadable, which means that you can add additional funds on to it, up to the maximum loadable value.
  • The Card only accesses the value that you have loaded on to it. It is not a credit card.
  • The card can access the customer's account balance of Wayex supported cryptocurrencies and any Australian Dollar balance that is held in fiat within the application
  • Spend against your balance in your Wayex wallet without exchanging them for AUD first
Significant Risks

There are some significant risks associated with use of the Card that you should be aware of, including:

  • Unauthorised transactions can happen using the Card if it is lost or stolen, if the personal identification number (PIN) is revealed to an unauthorised person, as a result of fraud or if you leave your card in an ATM. You may be liable for losses resulting from an unauthorised transaction under the terms and conditions of the product outlined in this PDS.
  • Unintended transactions can happen if electronic equipment with which a Card is being used is operated incorrectly or incorrect details are input.
  • You may not be able to get your money back if unauthorised or unintended transactions occur.
  • If the electronic network enabling the use of the Card is unavailable, you may not be able to undertake transactions or obtain information about the Card.
  • You may only spend up to the value of the available balance on the Card.
  • You cannot use the Card, or load value onto it after the Expiry Date.
  • The Card will expire on the date shown on the back of the Card. You can arrange to be issued a new card and transfer any remaining balance on the Card or arrange for a refund of the remaining balance after the Expiry Date by contacting Customer Service.
  • Use of Wayex Pre-paid card will result in a sale/liquidation of a cryptocurrency-asset within your Wayex wallet which may result in a taxable event each time a transaction is processed. You should seek your own independent advice on personal tax liability as the distribution of the Card does not consider your individual needs or circumstances.
  • Your cryptocurrency loaded in-app is liable to market fluctuations as it is only converted to AUD when you spend or sell within the Wayex app.
Important Information About The Financial Claims Scheme

The Financial Claims Scheme (“FCS”) is a scheme administered by the Australian Prudential Regulation Authority (“APRA”) to protect depositors from potential loss due to the failure of institutions. It provides depositors with a guaranteed protection, up to a cap. As at the date of this PDS, the FCS applies to deposits only. It does not extend to prepaid card products (including the Card or any Available Balance held on the Card).

If ANZ fails:

  • Any Available Balance held on your Card will not be protected by the FCS; and
  • You may lose all or part of your Available Balance.

The risks associated with the Card may therefore be increased when you load or hold large amounts of money onto the Card

For more information on the FCS, refer to: http://www.fcs.gov.au/

Other Important Information
  • It does not generate any interest or other return to the holder. In other words, you do not earn interest on the value loaded to the Card.
  • Although ANZ is an authorised deposit-taking institution carrying on a banking business in Australia, the acquisition of, or value loaded on to, the Card does not represent a deposit with, or investment in, ANZ nor any other parties involved in the Card.
  • You do not become a depositor with ANZ by holding the Card. If you have another deposit account with ANZ, the funds credited to your Card are not counted in calculating how much money you may have on deposit with ANZ for any purpose.
  • Certain limits apply to the use of the Card: Maximum Single Load AUD$10,000; Maximum Available Card Balance: AUD$10,000; Maximum Daily ATM Withdrawals: AUD$500 (subject to individual ATM provider limits).
  • The card cannot be used at ‘Pay at the Pump’ petrol stations.
  • If an unauthorised or mistaken transaction occurs or if your card is lost or stolen, you must notify Wayex as soon as practically possible. Wayex will take necessary steps to rectify the issue, this may include freezing the Card for a period of time. Please see the ‘Significant Risks’ section for more information about the risks associated with unauthorised transactions and lost/stolen cards.
  • You can check the Card’s Available Balance and transaction history via the Wayex App.
  • The Product is a Reloadable Visa Prepaid Card. You manage your Card and load value onto the physical Card and/or the virtual Card through the Wayex Wallet (for example, via online or mobile banking).  Any amounts transferred to the Wayex Wallet will be available to your Card and can be spent using the physical Card and any virtual Cards. The Available Balance will always be visible on the “Wayex App” and any currency you chose to spend you need to select within the app. These currencies can be spent using the physical Card and/or the virtual Card. The “Wayex App” can be used anywhere in the world where Visa Prepaid, Samsung Pay, Apple Pay and/or Google Pay is accepted. The Wayex Card is directly linked with your Wayex Wallet.  When your use your Wayex Card to purchase goods and services, there is an interaction between the “Wayex Wallet” and the “Wayex Card”. This event determines if the correct value of AUD or AUD equivalent matches the amount that is being spent. If there is insufficient AUD available in the Wayex Wallet, available digital currencies held within your Wayex Wallet will automatically be used to fund the purchase amount. By using this product, you acknowledge that this interaction takes place whenever the Wayex Card is used when transacting fiat or digital currencies.

The primary Fees & Charges are outlined below. All prices are payable in Cryptocurrency or AUD. For a full list, see the Cards Page

$15.00 AUD

Purchase Price

Card Renewal Fee (after  card expiry)


Monthly Card Fee


ATM Withdrawal Fee


Transaction Fee


Load Fee


Lost/Stolen Cards


Emergency Replacement Within 2 Days (Domestic)

$15 AUD

Emergency Replacement Within 24 Hours (International)

$45 AUD

International Foreign Exchange Fee
(Charged when any transaction is processed outside of Australia)


The Fees and Charges may change from time to time. You will be given 60 days written notice before Fee changes come into effect. You can also find information about new fees and charges on the Wayex website.

Card Limits

Up to Available Balance

Daily Limit

Maximum Card Balance (at any one time)


Maximum cumulative load over life of Card


ATM Withdraw Limit(at any one time)


Daily ATM Withdrawal Limit



If you have a complaint, you can contact Wayex via:
Mail:  PO Box 1182, BROADWAY, 2007
Email: support@wayex.com

Wayex will handle all complaints according to our internal dispute resolution procedure.

Our dispute resolution procedure requires that we provide an initial response to your complaint within 5 days, with a final response within 30 days. If we are unable to resolve your complaint to your satisfaction after the 30 days, you may be eligible to escalate the complaint to the Issuer’s external dispute resolution service.

The period of 30 days may be extended in exceptional circumstances or where the Issuer decides to resolve the complaint under the rules of the VISA scheme. If you wish to escalate the complaint, please tell us and we will facilitate referral free of charge.

The Issuer’s external dispute resolution service is:
Australian Financial Complaints Authority (AFCA)

GPO Box 3, Melbourne VIC 3001
Phone 1800 931 678
Fax 03 9613 6399
Website www.afca.org.au
Email info@afca.org.au

Additionally, if your complaint is not satisfactorily addressed, you
may contact the Issuer by:

Phone 03 9013 0066
Mail G.P.O Box 171, 380 Bourke Street, Melbourne VIC 3000 AUSTRALIA
Email admin@flexewallet.com


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On 17 April 2024, Cryptospend Pty Ltd commenced operating under the name of “Wayex”. This is a change in the business name of Cryptospend Pty Ltd and the entity remains the same. References to “Cryptospend” in the Product Disclosure Statement dated 18 October 2023 have been updated to “Wayex”.