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Prepaid accounts, just like Bunnings, Target, Woolies, your favourite restaurant. You are not making a deposit as you don’t earn interest and you do not have F
by zippercreatemy 5y ago
Prepaid accounts, just like Bunnings, Target, Woolies, your favourite restaurant.
You are not making a deposit as you don’t earn interest and you do not have FCS protection. Given the size of FB I don’t think this is a problem.
- audeyisaacs 5y agoBut because it's redeemable on demand for Australian currency shouldn't that make them a PPF provider? eg: PayPal is a registered PPF provider https://www.brightlaw.com.au/regulatory-challenges-for-purchased-payment-facilities/ https://www.brightlaw.com.au/regulatory-challenges-for-purch... https://www.apra.gov.au/sites/default/files/PayPal-auth-and-conditions-2006.pdf https://www.apra.gov.au/sites/default/files/PayPal-auth-and-...