OKX Card Financial Services Guide

Published on 8 Jun 2026
This information may not apply to all customers
Log in to check if the products, features, rules, and terms in this article apply to you.

Non-Cash Payment Facility – Virtual Mastercard

Issuer: Bano Pty Ltd (ABN 93 643 260 431)

AFSL 536984

Distributor: OKX Australia Pty Ltd (ABN 22 636 269 040)

Corporate Authorised Representative (CAR No. 1318306) of Bano Pty Ltd

Version: 1.0

Date: 9 June 2024

The distribution of this Financial Services Guide by OKX Australia Pty Ltd has been authorised by Bano Pty Ltd (AFSL 536984).

About this Financial Services Guide

This Financial Services Guide (FSG) is designed to help you decide whether to use the financial services we offer. It provides important information about:

  • who we are and how to contact us;

  • the financial services we are authorised to provide;

  • how we (and others) are paid;

  • any relevant associations or conflicts of interest;

  • our complaints handling procedures; and

  • how we protect your privacy.

This FSG should be read together with the OKX Card Product Disclosure Statement (PDS), which includes the Terms and Conditions (Section B). The PDS contains detailed information about the OKX Card product, including its features, risks, fees and charges. You should read the PDS before making a decision about whether to acquire the Card.

A paper copy of this FSG is available free of charge on request. Contact us using the details in Section 2 below.

We will provide this FSG as soon as practicable and, in any event, before we provide a financial service to you. We deliver disclosure electronically and you may request a free paper copy at any time. We keep records of the disclosures provided to you (including timestamps and the version of the PDS and FSG shown at acceptance).

Who we are and how to contact us

Issuer

Entity

Bano Pty Ltd

ABN

93 643 260 431

AFSL

536984

Role

Issuer of the OKX Card (non-cash payment facility)

Address

Level 13, 2 Bulletin Place, Sydney NSW 2000

Email

contact@banosuperapp.com

Distributor

Entity

OKX Australia Pty Ltd

ABN

22 636 269 040

Role

Corporate Authorised Representative (CAR No. 1318306]) of Bano Pty Ltd (AFSL 536984). Distributes the OKX Card and provides general advice.

Address

C/O William Buck (NSW) Pty Ltd, Level 29, 66 Goulburn Street, Sydney NSW 2000

Email

Contact us via the OKX App. Complaints can be left at: AUComplaints@okx.com

Phone

+61 2 8880 0709 (leave a voicemail if prompted)

Website

www.okx.com/en-au/pay

Key documents

The following documents are available on the OKX website:

How to deal with us

Acquisition of the OKX Card is only available via the OKX App for Australian residents. We may promote the OKX Card across other channels (digital, in-person events, sponsorship and ambassador or KOL activations, and existing-customer communications). We do not engage in unsolicited outbound contact. You can give us instructions about your OKX Card (including blocking, freezing or disputing transactions, or closing your account) through the OKX App support function, by email to AUComplaints@okx.com (for complaints) or contact@banosuperapp.com (for matters to the Issuer), or by phone on +61 2 8880 0709. Card freeze and unfreeze are available in real time via the OKX App.

1. Our financial services and products

We provide the following financial services in relation to the OKX Card:

  • Bano Pty Ltd (Issuer): Deals in the OKX Card by issuing a non-cash payment facility (virtual Mastercard) under which transactions are funded by supported stablecoins (USDC, USDT, USDG).

  • OKX Australia Pty Ltd (Distributor): Arranges for the issue of the OKX Card and provides general financial product advice in connection with the Card.

Important limitations:

  • We provide general advice only. We do not provide personal financial product advice (see Section 5).

  • The OKX Card is available to Australian residents only.

  • Distribution is online only, via the OKX website and OKX App.

  • The Card is a virtual Mastercard. It

    cannot

    be used for ATM withdrawals, cash advances, money orders or cash-out at merchants.

  • Transactions involve a dual conversion (stablecoin to USD to local currency) with a 0.10% conversion spread. Mastercard may also charge fees and other charges.

  • The Card is not subject to the ePayments Code. A bespoke liability framework applies to unauthorised transactions (see PDS).

We provide general financial product advice only. We do not consider your objectives, financial situation or needs. You should consider the PDS and whether the Card is appropriate for you before deciding.

2. Documents we will give you

Before you acquire the OKX Card, we will provide you with:

  • Product Disclosure Statement (PDS): This includes the Terms and Conditions (Section B) and describes the Card’s features, benefits, risks, fees and charges.

  • This Financial Services Guide (FSG): The document you are reading now.

You can also access the following at any time:

Electronic delivery: We provide documents electronically via the OKX website and App. By applying for the Card, you consent to receiving these documents electronically. A paper copy of any document is available free of charge on request - contact us using the details in Section 2.

You consent to receive disclosure electronically. You may request a free paper copy of any document at any time.

3. How we are paid

Fees and charges

There is no upfront acquisition fee charged to you by Bano or OKX Australia for issuing the Card. The OKX Card has a simple fee structure:

You pay fees and conversion costs as set out in the PDS (including Mastercard’s merchant-currency to USD rate (and any Mastercard conversion spread) and a 0.10% OKX spread for USD to supported stablecoins).

  • A 0.10% conversion spread by OKX applies to all Card transactions (disclosed in the PDS).

  • No annual fees, monthly fees or inactivity fees apply at the date of this FSG.

Full fee details are set out in the PDS.

Distributor remuneration

OKX Australia will not receive any distributor fees from Bano. No adviser commissions or trail payments are received by OKX Australia in connection with the Card.

OKX Australia pays Bano for its issuing services under a commercial agreement. The value of these payments is not reasonably ascertainable at the time you receive this FSG; you can ask us for more information about the remuneration that Bano or OKX receives in relation to your Card.

Neither Bano nor OKX pays or receives conflicted remuneration for financial product advice. OKX staff do not receive sales-based commissions in relation to the Card.

We may pay referral fees to third parties for introducing customers; details relevant to you are available on request.

Staff remuneration

OKX Australia staff are salaried employees. They may receive performance bonuses, but these are not linked to the volume or value of the OKX Cards issued.

4. Associations and conflicts of interest

You should be aware of the following associations and relationships:

  • Issuer and Distributor relationship: Bano Pty Ltd issues the OKX Card. OKX Australia Pty Ltd distributes the Card as a Corporate Authorised Representative of Bano.

  • OKX Group: OKX Australia is related to broader OKX group entities. OKX Australia also provides exchange and technology services within the OKX ecosystem.

  • No third-party ownership: No third-party product issuer has an ownership interest in Bano Pty Ltd.

How we manage conflicts:

  • Governance arrangements between Bano and OKX Australia (including a Corporate Authorised Representative Agreement with step-in rights);

  • Clear disclosure in the PDS and this FSG of our relationships and remuneration;

  • Product controls, including distribution conditions aligned with the Target Market Determination for the Card as a financial product;

  • All marketing and public communications about the Card require Licensee pre-approval; and

  • Conflicts of interest are monitored by Bano’s compliance function.

Bano is the issuer of the Card. OKX Australia distributes and processes the Card on Bano’s behalf. We use third-party payment networks and processors (for example, Mastercard and its acquiring members). We manage conflicts through governance, approval of all marketing and customer communications by Bano, and staff conduct policies.

5. The kind of advice we provide

General advice only

We provide general financial product advice only. This means any information or advice we give you does not take into account your personal objectives, financial situation or needs.

Before making a decision about whether to acquire the OKX Card, you should:

  • read the PDS (including the Terms and Conditions in Section B);

  • consider whether the product is appropriate for your circumstances;

  • consider the risks described in the PDS (including stablecoin de-peg risk, exchange rate risk, technology risk and the non-ePayments Code liability framework); and

  • if in doubt, seek independent financial advice.

We do not provide personal advice.

If you need advice that considers your personal circumstances, you should consult a licensed financial adviser.

Because we provide only general financial product advice, we will not provide you with a Statement of Advice. An SOA is a document that records personal advice given to a retail client, which we do not provide in connection with the OKX Card.

6. Your information and privacy

We collect, use and disclose your personal information in accordance with the Australian Privacy Principles (APPs) under the Privacy Act 1988 (Cth).

Key points:

  • We collect personal information necessary to provide financial services, verify your identity (KYC) and comply with AML/CTF laws.

  • Your information may be disclosed to service providers, regulatory bodies, and related entities as set out in our Privacy Policy and the PDS.

  • Some personal information may be disclosed to overseas recipients (including entities within the OKX group) as described in the PDS and Privacy Policy.

  • You have the right to request access to your personal information and to request corrections.

Privacy Policy: Our full Privacy Policy is available at www.okx.com/en-au/privacy and in the OKX App.

To request a copy of your information or to make a correction request, contact us using the details in Section 2.

7. Complaints and dispute resolution

We are committed to resolving complaints fairly and promptly, in accordance with ASIC Regulatory Guide RG 271.

Step 1: Contact us (Internal Dispute Resolution)

If you have a complaint about the OKX Card or our services, you can contact us by:

  • In-App: Submit a complaint via the OKX App support function

  • Email: AUComplaints@okx.com or Issuer via contact@banosuperapp.com

  • Phone: +61 2 8880 0709 (leave a voicemail if prompted)

What happens next:

  • We will acknowledge your complaint promptly.

  • We aim to resolve most complaints within 30 calendar days. If we need more time, we will explain why and keep you informed.

  • You will receive a written IDR response setting out our decision, the reasons for it, and your right to escalate to AFCA if you are not satisfied. Our IDR process is free of charge.

Step 2: External Dispute Resolution (AFCA)

If you are not satisfied with our response (or if we have not responded within the applicable timeframe), you may escalate your complaint to the Australian Financial Complaints Authority (AFCA):

Organisation

Australian Financial Complaints Authority (AFCA)

Website

www.afca.org.au

Email

info@afca.org.au

Phone

1800 931 678 (free call)

Mail

GPO Box 3, Melbourne VIC 3001

AFCA provides a free, independent dispute resolution service. Time limits may apply to complaints to AFCA, so you should act promptly.

8. Compensation arrangements

Bano Pty Ltd maintains professional indemnity (PI) insurance that satisfies the requirements of section 912B of the Corporations Act and ASIC Regulatory Guide RG 126.

This insurance covers claims relating to the conduct of Bano and its representatives (including OKX Australia as a Corporate Authorised Representative) in providing financial services, including where a representative has ceased to act for Bano.

We believe this insurance is adequate to compensate retail clients for loss or damage suffered as a result of breaches of the financial services laws by Bano or its representatives.

9. Keeping your records and getting a copy

We maintain records of all financial services provided to you in connection with the OKX Card, in accordance with our legal obligations.

You may request a copy of any document we have provided to you, or any record relating to the financial services we have provided. To make a request, contact us using the details in Section 2.

We will provide the requested information within a reasonable time, subject to applicable law.

10. Changes to this FSG

We may update this FSG from time to time to reflect changes in our business, products, fees or the law. The current version is always available:

If we make a material change, we will notify you in writing (which may include electronic notification via the App or email).

Any information we provide is general in nature and does not take account of your objectives, financial situation or needs.

Quick Reference

Key documents and links: