FAQ General | Thrifty Money

FAQ

General FAQ

What does Thrifty Money do?

Thrifty Money operate as a Business Introduction Service(BIS) who introduce potential investors to fundraising companies and/or funds. We function as an online marketplace where business entities seek to raise capital and investors seek access to investment opportunities that would normally be available to the traditional investment fraternity (i.e. Banks)

Is the Thrifty Money ASIC compliant?

Yes ... Thrifty Money operates under a Corporations Act exemption from requiring a prospectus (or other disclosure document) for fund-raising as issued by ASIC under sec.741(1)(a), through Class Order 02/273 and Regulatory Guide 129. It stipulates that an offer of shares may be made using the medium of a BIS in accordance with the class order for up to $5,000,000 for small businesses (with up to 250 employees).

What type of investments are available at Thrifty Money?

Investment opportunities listed on Thrifty Money’s investment platform are fundamentally Equity Based Investments and generally relates to the selling of shares, stock or units in a company, investment scheme or trust. Investors acquire these equities in anticipation of a dividend income and ultimately capital gains when they sell their equity.

How do I know that the opportunities on offer or that the investors are real?

Anyone using our platform has to open an account by submitting various types of information in order for their credentials and intent to be verifies. Both fundraising entities and investors have must meet all KYC/CDD requirements before access to our platform is granted. All investment opportunities must be supported by a verifiable "Offer Document" prior to it being published.

How safe is Thrifty Money's platform?

Thrifty Money's platform is uses the latest industry best practices.

How secure is my information?

Thrifty Money uses latest industry best practices. Thrifty Money’s investment platform is a Software as a Service (SaaS) application, built on top of the Amazon Web Services (AWS) platform; the most comprehensive and reliable storage provider available on the internet. We use both the Amazon Elastic Computing Cloud (EC2) and Simple Storage Service (S3) as part of our infrastructure. All communication between the client and server is encrypted with HTTPS using SSL to prevent man-in-the-middle attacks on data as it passes from the Amazon cloud to your client. Best development practices were followed when building our service. All sensitive data is encrypted using industry standard AES-256. We also periodically run several automated security tests against the application to ensure it stays robust.

How do I register a new account?

Select any of the "Register" buttons throughout this website and follow our secure online registration process. As part of the registration process you will be asked to provide proof of identification. This helps us comply with the Australian Know Your Customer (KYC) and Anti Money Laundering laws.

What if any of my account details or information changes?

You may make changes to your personal information by logging in to your account. If you change your address details, you will be asked to provide a supporting document to verify your address.

Who do I address my questions to?

It is our mission to provide simple, clear, concise answers to questions. We have opted to achieve this via of our FAQ section. We believe that this will ensure that our customers are informed instantly, uniformly and without the potential of query or solution presentation misinterpretation. Any query not addressed in our FAQ section can be presented electronically via email and will be replied to within 24 hours.

Investor FAQ

Who can invest through Thrifty Money?

Our investors are diverse, ranging from large institutions, private companies, self-managed super funds (SMSFs) to high-net worth individuals. At this stage we prefer not engage with "Retail Investors" however, this may change in the future.

Can a SMSF invest?

Yes if it meets the wholesale client test.

What fees does the investor have to pay?

There are no fees payable in respect of any introductions or purchase of the assets on offer to Thrifty Money by the Investor.

How do I know whether an investment opportunity is not a "rip-off"?

While due care and attention has been exercised in the preparation of information on the Thrifty Money platform, the financial products and services described on Thrifty Money are offered by various third party fundraising entities in concert with a variety of clients and developers. The financial products and services described on our platform are offered under a Security Offer Document, Product Disclosure Statement or Information Memorandum to retail or wholesale clients in Australia. The listings on this site are not Investment Advice.

The content on this website has been prepared without taking into account your objectives, financial situation or needs. You must seek your own investment and legal advice about the appropriateness of any content on this website before making any investment decision.

How risky are the investments published on the Thrifty Money platform?

Investment in Shares or units are speculative by nature and could result in net losses upon liquidation. You should consider the risks described in the “Offer Document” provided, as well as any other information available, very carefully when evaluating whether to make an investment. We recommend that you also consult with your own legal, tax and financial advisors prior to investing in an opportunity of interest to you.

May I obtain independent advice?

Yes, in fact, Thrifty Money recommend that the information contained in the publications about the proposed investment opportunities must not be relied upon as the only information on which the investment decision should be made. Investors should determine their interest in acquiring the equity on offer, to the extent that they consider necessary or desirable, based on their own independent investigations.

Who will be able to see my personal information?

The security of your information is important to us. You can view our Privacy Policy here (It is important to note that the "Platform Privacy Policy" is different from the "Website Privacy Policy"). You will have access to your information via your secure login. As part of our KYC and Anti Money Laundering obligations your information is collected by Thrifty Money and may be seen by Thrifty Money Administration. Also, when you make an investment the fundraising entity will see your information as part of the application process.

How do I get the money I want to invest paid into the investment opportunity I chose?

When you select "Invest Now", a proforma Invoice is issued to your email address with full instructions on how to transfer funds.

Where does my money go to when I transfer it from my bank account?

Funds are transferred directly to the Thrifty Money Applications Account created especially for the Fundraising Entity.

How and when do I withdraw funds, what is the process?

How and when you can withdraw funds from your investment is not determined by Thrifty Money. Every investment opportunity comes with is own “withdrawal” prescriptions and is determined by the fundraising entity. Withdrawal processes may differ entirely from one opportunity to the other. This information is available from the fundraising entity and is disclosed in their Offer Document.

I have invested ... What now?

Thrifty Money’s investment platform provides a compliant environment for investment management. As an investor, through your Thrifty Money Dashboard, can maintain glance view of your Net Worth, your investment transactions, communications and other registry functions.

Do I have to register every time that I want to make another investment?

No ... you can use your existing account credentials - user name and password and 2factor authentication to make all further security trades without the need to fill out any more forms.

Fundraiser FAQ

Who can raise capital through Thrifty Money?

Why use Thrifty Money?

Given the very harsh regulations governing the promotion or encouragement of investment in unlisted companies,

unlisted business entities are finding it very difficult to raise the capital required for them to grow. As an accredited BIS, Thrifty Money (being a business which has as one of its objects the promotion or encouragement of investment in small and medium business enterprises) is entitled to be involved in making or calling attention to offers of securities for unlisted companies, provided it follows ASIC’s rules governing its operations.

Given the above said combined with Thrifty Money's substantial investor network, raising capital for your business venture has never been easier.

What fees does the fundraising entity have to pay?

In return for providing access to capital raising opportunities and facilitating investment, including adherence to any "continuous disclosure" provisions of items such as the announcement of key/material matters and providing financial results on an Issuer Page, ensuring good governance and investor protection, Thrifty Money, as a rule of thumb, charge the selling entity an introduction fee of 5% of amounts raised, plus G.S.T. It must be noted that fees vary from offer to offer and will be published with every individual "Offer Document".

In addition, Thrifty Money reserves the right to pay all other or additional commissions and/or fees as may be required by and provided for in the relevant “Offer Document”.

Who will be able to see my profile?

Only approved and registered investors will have access to the details pertaining to the offer. The details will be limited to the details contained in the "Offer Document" uploaded by you.

FAQ

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