1. INTRODUCTION
Issued by Toss Australia Pty Ltd ACN 688 041 956
AFSL No. 700093
Issue Date: 11 February 2026
Toss Australia Pty Ltd (“Toss”, “we”, “us”, “our”) is a business which provides a mobile-based platform (the “Toss App”) that provides customers with a convenient all-in-one application to manage their day-to-day financial activities.
Before you acquire an account with the Toss App, you will be provided with a separate document titled “Terms & Conditions”. It contains terms and conditions that govern our relationship with you. You can obtain a free copy of the Terms & Conditions by contacting us or visiting our website.
Capitalised words in this PDS are defined in section 19.
2. IMPORTANT INFORMATION
This Product Disclosure Statement (“PDS”) has been prepared by Toss (ACN 688 041 956 AFSL No. 700093).
This PDS contains important information about the Toss money transfer solution (“Toss Solution”) and its associated benefits, risks and fees. Toss is the issuer of the Toss Solution, which is a non-cash payment facility.
The Toss Solution is available and can be accessed using the Toss App. The PDS also includes information about certain other services provided through the Toss App.
This PDS is designed to assist you in deciding whether to acquire the Toss Solution. Therefore you should read this PDS carefully. This PDS and the Terms & Conditions will govern your use of the Toss Solution.
The information contained in this PDS does not take into account your individual objectives, financial situation or needs. Any advice in this PDS is general advice only. We suggest that you seek professional advice if you do not understand any of the information contained within this PDS and how it applies to you.
This PDS is intended only for persons who reside in Australia. Accordingly, this PDS is not an offer to sell or invitation to treat in relation to the Toss Solution in any place in which, or to any person to whom, it would be unlawful to make that offer or invitation. The distribution of this PDS outside Australia may be restricted by the laws of places where it is distributed and therefore persons into whose possession this document comes should seek advice on and observe those restrictions. Failure to comply with relevant restrictions may violate those laws.
Any information that is not materially adverse information is subject to change from time to time and may be updated by inclusion on our website. You can also obtain a paper copy or electronic copy of any updated PDS (without charge) on request.
Where this PDS includes a reference to content on our website, the relevant content of the website referred to forms part of this PDS. If you cannot find that information on our website, you can contact us and ask for a copy of the statement or information without charge.
To the extent permitted by law, we do not accept any responsibility for any loss arising from your use of this PDS.
Should you have any queries about this PDS, please contact us. Our contact details are set out in section 10.
3. ABOUT THE TOSS SOLUTION
The Toss Solution is a non-cash payment facility that enables users to make real-time peer-to-peer payments directly between Australian bank accounts.
The Toss Solution operates through the PayTo service and Australia’s real-time payments infrastructure. When you initiate a payment through the Toss App, you authorise an instruction for funds to be transferred from your bank account to the recipient’s bank account.
Toss does not hold, receive, pool or store your money at any time. Funds are transferred directly between financial institutions, and the Toss Solution acts as an instruction and facilitation platform only.
To use the Toss Solution, you must link an eligible Australian bank account through the Toss App and provide the necessary authorisations required to enable PayTo payment initiation.
The Toss Solution is available only to individuals and is designed for personal use. It must not be used for business or commercial purposes unless otherwise permitted under the Terms & Conditions.
The Toss Solution must not be used for prohibited or illegal activities, including money laundering, terrorism financing or any activity that breaches applicable laws or the Terms & Conditions.
The Toss App also provides other financial and non-financial services features available to clients, such as:
4. ISSUER AND DISTRIBUTOR
Toss is the issuer and distributor of the Toss Solution. Toss holds an Australian Financial Services Licence (AFSL No. 700093) which authorises it to provide advice and deal in non-cash payment products.
If you acquire the Toss Solution, you are entering into a contract with Toss. Toss is responsible for all obligations owing to you in relation to the Toss Solution.
You may contact Toss at:
Toss Australia Pty Ltd
1300 004 974
Email: tossglobal@toss.im
5. SIGNIFICANT BENEFITS OF THE TOSS SOLUTION
The significant benefits of the Toss Solution include the following:
Real-time peer-to-peer payments
The Toss Solution enables you to make payments in real time between Australian bank accounts using Australia’s real-time payments infrastructure. Payments are typically processed within seconds, allowing funds to be received quickly by the recipient, subject to system availability and bank processing times.
Direct account-to-account transfers
Payments made using the Toss Solution are transferred directly between your linked bank account and the recipient’s nominated bank account. You do not need to preload funds, maintain a stored balance, or move money into a separate wallet to use the Toss Solution.
Non-custodial payment model
Toss does not hold, receive, pool or store your money at any time. Funds are transferred directly between financial institutions, reducing the risk associated with funds being held by a third party and eliminating reliance on stored-value arrangements.
Convenience and accessibility
The Toss Solution is accessed through the Toss App on compatible mobile devices. Payments can be initiated at any time, 24 hours a day, 7 days a week, subject to system availability, bank processing and maintenance windows.
User authorisation and control
Each payment initiated through the Toss Solution requires your authorisation. You can review payment details before confirming a transaction and monitor your payment history through the Toss App.
No user fees for peer-to-peer payments
Toss does not charge you fees for acquiring or using the Toss Solution or for making peer-to-peer payments. This makes the Toss Solution a cost-effective option for transferring funds between individuals.
Integration with other app features
The Toss Solution may be used alongside other features available in the Toss App, such as personal finance management tools and rewards programs, providing a more integrated user experience.
6. SIGNIFICANT RISKS
The Toss Solution also involves risks. You should carefully consider the following risks before acquiring or using the Toss Solution.
Security and unauthorised access risk
You are responsible for maintaining the security of your mobile device, login credentials, authentication methods and any other access details used to access the Toss App. If your device or credentials are lost, stolen or compromised, unauthorised payment instructions may be initiated. You may be responsible for losses arising from unauthorised transactions in accordance with the Terms & Conditions.
Authorisation and irreversibility risk
Once you authorise a payment using the Toss Solution, the payment instruction may be processed immediately and may not be reversible. Unlike some card transactions, account-to-account payments may not support chargebacks or reversals. You should ensure payment details are correct before confirming a transaction.
Mistaken payment risk
If you enter incorrect recipient details or select the wrong recipient, funds may be transferred to an unintended recipient. Recovery of funds may not be possible and will depend on the cooperation of the recipient and their financial institution.
Service availability and technology risk
The Toss Solution relies on mobile networks, internet connectivity, banking systems and third-party payment infrastructure. Service interruptions, outages, system upgrades or maintenance may delay or prevent you from making payments.
Third-party dependency risk
Toss relies on banks, payment system operators and technology providers to deliver the Toss Solution. Failures, outages or changes to services provided by these third parties may impact the availability or performance of the Toss Solution.
Operational and regulatory risk
Toss is subject to anti-money laundering, counter-terrorism financing and other regulatory obligations. Transactions may be delayed, blocked or rejected where required to comply with applicable laws or to manage risk. Toss is not required to provide reasons for actions taken to meet regulatory obligations.
Fraud and scam risk
Peer-to-peer payment services may be targeted by scammers or fraudsters. If you authorise a payment as a result of a scam, impersonation or other deceptive conduct, recovery of funds may not be possible.
The Toss Solution includes a Confirmation of Payee (CoP) feature which checks certain recipient account details before you make a payment. This feature may help reduce the risk of misdirected payments, but it is not a verification service and does not prevent all fraud or scams. You remain responsible for verifying the identity of the recipient and ensuring payment details are correct before authorising a transaction.
Changes to services
Toss may change, suspend or discontinue features of the Toss Solution or the Toss App in accordance with the Terms & Conditions. Changes may affect how you use the Toss Solution or the availability of certain features.
Financial Claims Scheme
The Financial Claims Scheme is a scheme administered by Australian Prudential Regulation Authority to protect depositors of authorised deposit-taking institutions from potential loss due to the failure of these institutions. It provides depositors with a guaranteed protection, up to a cap. The Financial Claims Scheme does not apply to the Toss Solution.
7. NOT A BANK DEPOSIT
The Toss Solution is not a bank account and does not involve the holding of funds by Toss. Toss does not accept deposits, and you do not earn interest in connection with your use of the Toss Solution.
8. TAX CONSIDERATIONS
Payments made using the Toss Solution may be subject to tax consequences, including but not limited to capital gains tax.
This and other tax implications may arise in relation to the Toss Solution and transactions you enter into. Taxation laws are very complex and vary depending on your personal circumstances. You should obtain your own independent tax advice in relation to the impact your use of the Toss Solution may have on your personal tax liability.
9. OTHER IMPORTANT INFORMATION
The Toss Solution enables you to initiate payments directly from your linked bank account to the recipient’s bank account. Toss does not hold, receive, pool or store your money at any time, and you do not have an available balance with Toss or earn interest in connection with the Toss Solution.
You should take care to ensure payment details are correct before authorising a payment. Payments made using the Toss Solution may be processed quickly and may not be reversible, and funds sent to an unintended recipient may not be recoverable. You should treat payments made using the Toss Solution in a similar manner to cash and only send money to people or entities you trust.
Toss is not responsible for disputes between you and another person or entity in relation to goods or services paid for using the Toss Solution. Any refund or dispute must be resolved directly with the relevant recipient.
The Toss Solution relies on mobile and internet connectivity and third-party systems operated by banks and payment system providers. You may not be able to access or use the Toss Solution during outages, disruptions or maintenance periods affecting those systems.
Your linked bank account is governed by the terms and conditions of your financial institution. Your bank may apply transaction limits, security controls or restrictions that affect payments initiated through the Toss Solution. PayTo agreements can generally be viewed and managed through your online banking, including pausing or cancelling agreements.
Pausing or cancelling a PayTo agreement does not change your underlying contractual arrangements or payment obligations you may have with the other party.
Toss does not charge fees for acquiring or using the Toss Solution. However, your bank, mobile network provider or internet service provider may charge fees that are outside of Toss’ control.
The Terms & Conditions and related documents may be amended from time to time in accordance with those terms. If you do not agree with a change, you must stop using the Toss Solution. Toss may suspend or restrict access to the Toss Solution where fraud is suspected, where risk controls require it, where you breach the Terms & Conditions, or where Toss is required to do so by law.
10. QUERIES AND COMPLAINTS
If you have a complaint or dispute relating to the Toss Solution, please follow the procedure set out below:
Step 1
Please contact Toss:
Telephone: 1300 004 974
Email: tossglobal@toss.im
Please provide Toss with as much information about the complaint as you can. Toss will then attend to your complaint, and may contact you for more information. Once Toss has enough information, it will endeavour to resolve your complaint within 30 days.
Step 2
If you are unsatisfied with the decision or Toss does not respond to you within 30 days after you make the initial complaint (Step 1), you may contact the Australian Financial Complaints Authority (“AFCA”), which is an external dispute resolution scheme. AFCA’s details are:
Telephone: 1800 931 678
Website: www.afca.org.au
Mail: GPO Box 3
Melbourne VIC 3001
Email: info@afca.org.au
You may only contact AFCA once you have followed the procedure above.
11. REGISTRATION AND IDENTIFICATION
To apply for and use the Toss Solution, you must meet the eligibility requirements set out in the Terms & Conditions.
You must register for the Toss Solution through the Toss App and link an eligible Australian bank account that supports PayTo. The Toss Solution will not be available until you have completed the onboarding process and your identity has been verified.
As part of registration, you will be required to provide personal information and documents to enable Toss to verify your identity and comply with its obligations under anti-money laundering and counter-terrorism financing laws. This may include providing information through the Toss App, uploading documents, and completing electronic verification processes.
You may be asked to provide additional information or documentation from time to time to confirm your identity, update your details or enable continued use of the Toss Solution. If you do not provide requested information, Toss may restrict or suspend your access to the Toss Solution.
You may be asked to supply further information for the purposes of confirming your identity. These may be requested by direct communication from Toss or via additional forms you are prompted to complete as part of the registration process described above.
12. USING TOSS SOLUTION IN OTHER CURRENCIES
The Toss Solution only supports payments in AUD to other customers that hold a bank account with an Australian deposit-taking institution.
13. PAY TO
PayTo is an account-to-account payment service that enables you to authorise payments directly from your bank account using the Toss Solution. This is facilitated via the Toss App.
When you authorise a PayTo payment, you are providing an instruction for your bank to transfer funds to the recipient’s bank account. PayTo authorisations may be one-off or ongoing, depending on the payment type.
You can view, manage and cancel PayTo authorisations through your bank or the Toss App, subject to your bank’s processes.
14. FEES AND CHARGES
Toss does not charge you any fees to acquire the Toss Solution or to make peer-to-peer payments using the Toss Solution.
Toss may earn revenue from advertising and promotional arrangements where third parties pay to display advertisements or sponsored content within the Toss App. This revenue is not paid by you and is not a fee for financial services.
Although Toss does not charge fees for the Toss Solution, third parties may charge fees that are outside of Toss’ control. For example:
You are responsible for any fees charged by third parties.
15. WHAT TO DO IF YOUR DEVICE IS LOST OR STOLEN
You must notify Toss immediately and take steps to protect your Toss Solution if you believe:
As soon as practicable, you should use any in-app security features to:
Toss may suspend access to your Toss Solution while we investigate suspected fraud, manage risk or comply with legal obligations.
16. UNAUTHORISED TRANSACTIONS
There is a risk that unauthorised transactions may occur in connection with your Toss Solution, particularly if your mobile device or access details are lost, stolen or compromised.
You are responsible for taking reasonable steps to protect your device, passwords and authentication methods and to prevent unauthorised access to the Toss App.
If you believe a transaction was not authorised by you, or you suspect unauthorised access to your Toss Solution, you must notify Toss as soon as possible using the contact details in this PDS and take steps to secure your account. You should also promptly contact your bank, as payments are made from your linked bank account and your bank may need to apply security controls, investigate the transaction and/or assist with recovery steps depending on the circumstances.
Account-to-account payments, including PayTo payments, may be processed quickly and may not be reversible once authorised and processed. Your rights and liability in relation to unauthorised transactions (and any mistaken payments) may be affected by your bank’s terms and conditions and any industry codes or processes that apply to your linked bank account (including where your bank is a subscriber to the ePayments Code and the transaction is within its scope), as well as the Terms & Conditions and applicable law.
A transaction may be unauthorised where you did not consent to it. A transaction may be mistaken or part of a scam where you did authorise the payment, but did so in error or as a result of deception. Recovery of mistaken or scam payments may not be possible and will depend on the recipient, their bank and any applicable banking processes.
After you notify Toss, we may suspend or restrict access to your Toss Solution while we investigate, request information from you, and liaise with relevant third parties where reasonably required to manage risk or comply with legal obligations. Your liability in relation to unauthorised transactions is determined under the Terms & Conditions and applicable law and may increase where you contributed to the loss, including by failing to keep your access details secure or by unreasonably delaying notification.
17. ESG
We do not take labour standards or environmental, social or ethical considerations into account in respect of the Toss Solution.
18. PRIVACY
The privacy of your information is important to us. We have practices which include the secure storage of personal information and safeguards against the accidental release of personal information.
You will be required to provide us with certain information to enable us to comply with our obligations under the AML Legislation.
We handle all information provided to us in accordance with our Privacy Policy. You can obtain a copy of our Privacy Policy here or on our website or by contacting us to request a copy without charge.
19. DEFINITIONS
In this PDS, unless otherwise indicated:
ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959 (Cth).
App means the Toss mobile application through which the Toss Solution is accessed.
PayTo means the account-to-account payment service operated through Australia’s real-time payments infrastructure that enables authorised payment initiation from a linked bank account.
Terms & Conditions means the terms and conditions governing the Toss Solution and use of the Toss App, as updated from time to time.
Toss Solution means the non-cash payment facility issued by Toss that enables peer-to-peer payments between users’ linked bank accounts through the Toss App.