Effective 1 April 2024
Sharesies Australia Limited (Sharesies, we, us, or our) is the issuer of Sharesies Australia dollar (AUD) Gift Codes (Gift Code(s)).
These terms and conditions (the Terms) apply to the purchaser and user of a Gift Code purchased in AUD. By purchasing or using a Gift Code, you acknowledge and agree to these Terms.
The term ‘You’ may be used within these Terms to describe either the purchaser or recipient of the Gift Code.
To help you get the most out of your Gift Code, please make sure you read and understand these terms and conditions.
1. Non-refundable and expiry
Gift Codes are non-refundable and cannot be cancelled or returned once purchased.
Gift Codes expire on the date that is 36 months following their date of purchase (Expiry Date).
A Gift Code cannot be redeemed after its Expiry Date. You lose the unredeemed value on the Gift Code at the Expiry Date and it becomes the property of Sharesies Australia Limited.
2. What can you use a Gift Code for?
A Gift Code is a one-time use code that when redeemed through the Sharesies app will top up the Sharesies’ Wallet of that Account.
Gift Codes cannot be exchanged, refunded or redeemed for cash. You must redeem the full face value of the Gift Code. Once redeemed, the value of the Gift Code must be used to buy investments available through Sharesies before being withdrawn.
Where an account is closed but a Wallet value contains a non-invested amount from a redeemed Gift Code, you forfeit this amount of the Wallet’s value. This also includes where an Account is closed due to the account being deemed inactive after the Expiry Date of the Gift Code.
3. Who can use a Gift Code?
Sharesies Australian Gift Codes can only be redeemed for Australia-based Investors who are using the Sharesies’ Australian platform that have been purchased in AUD, to which these Terms relate.
If you are looking to purchase a Gift Code for an investor using the Sharesies’ New Zealand platform, visit sharesies.co.nz. They will have separate terms and conditions applying to the purchase of gifts through their site.
When purchasing a Gift Code, it is your responsibility to ensure you are purchasing the right Gift Code (either Australian or New Zealand) for the gift recipient.
Gift Codes cannot be purchased in USD or any other currency.
4. Gift Code redemption process
When a Gift Code is bought, we issue a redemption code (the Redemption Code) which must be redeemed through a Sharesies account by the Expiry Date specified on receipt of the Gift Code.
To redeem the Gift Code:
log in to your Sharesies account and enter the Redemption Code; or
if you don't have a Sharesies account, you will need to complete sign up to be able to enter the Redemption Code.
You must have an active account (i.e. able to trade) before any value of your Gift Code is available to buy investments. Once your Gift Code has been redeemed and the value is available in your account, you can use the funds on a single transaction or in multiple transactions.
If for any reason you cannot open an account with Sharesies, you will not be able to redeem the Gift Code and will forfeit the value of the Gift Code.
5. Face value
When you buy a Gift Code, you must choose a value from $5 to $2,000 in AUD.
The total price you pay for a Gift Code will be the face value plus the card payment processing fee from Stripe.
We’ll let you know what the fee is when you choose the amount — so there are no surprises at checkout.
6. Paying for your Gift Code
We accept major credit and debit cards. Once you complete your purchase of the Gift Code, you will receive an email receipt.
Your financial institution may charge you additional fees when buying a Gift in another currency. For example, if you use a New Zealand bank account to purchase a Gift Code in AUD for an Australian-based investor, your financial institution may charge you a fee to exchange currency. Connect with your financial institution for more information.
7. Is Gift Code money held on trust?
An unredeemed Gift Code is not held on trust for the purchaser or any intended third party recipient.
Once a redemption code is redeemed by an active account, the money value of the Gift Code available for investing is treated as 'client money' and is transferred to and held by our custodian company on trust for that Sharesies account holder under the Terms.
8. Misuse
You must not use Gift Codes as a way to transfer money from one person to another.
Sharesies monitors transactions for such activity, including money laundering or financial crime.
9. Privacy Policy
The Privacy Statement and Collection Notice on the Sharesies website will apply to the purchase and/or use of the Gift Code.
10. Cancellation of Gift Codes
You can't cancel or replace a Gift Code if lost or stolen. Sharesies is not responsible for any loss suffered by the purchaser or recipient.
It is your responsibility to keep the Gift Code safe and not share your Redemption Code with anyone. If an unintended account redeems your Gift Code through lack of safety and security on your behalf, including external access to your email account, we will not be responsible for replacing the value of the Gift Code. We will take the appropriate action to investigate the redemption.
Where a Gift Code is not working, Sharesies will investigate and, if appropriate, replace the Gift Code.
Without limiting any of our rights under the Terms, Sharesies reserves the right to refuse, cancel or void (as appropriate) any Gift Code or funds from a redeemed Gift Code:
if the Gift Code is issued in error;
for any breaches of these Terms and/or the terms and conditions for use of the Sharesies platform;
if required to do so by law, any regulatory authority or court; or
if Sharesies suspects that the Gift Code was obtained or used fraudulently or unlawfully.
In the limited circumstances where we may provide a refund, the refund will be to the original payment method.
11. Potential delays in processing of instructions using Gift Code monies
Sharesies may delay placing any orders or instructions in respect of a Sharesies account that has redeemed a Gift Code until the funds used to purchase that Gift Code have arrived with Sharesies as cleared funds.
12. Changes to these Terms and governing law
Sharesies may change these Terms without notice to you by uploading a new version on the Website. It is your responsibility to ensure that you are aware of the applicable Terms for your purchase.
New South Wales law governs these Terms, and the courts of New South Wales have exclusive jurisdiction.
13. Who is Sharesies?
Sharesies Australia Limited is licensed in Australia to provide financial services (AFSL No. 529893). Sharesies provides an online investment platform designed to make investing easy and accessible. Sharesies is not the manager or issuer of the investments available through the platform, unless specified.
14. Questions
If you have any queries or questions relating to the purchase or use of Sharesies Gift Codes or these Terms, please contact our Investor Care team at help@sharesies.com.au.
These Terms should be read in conjunction with our applicable disclosure documents for the Sharesies platform. See our Website for our disclosure documents, including our IDPS Guide and Target Market Determination.