Savebo User - FAQ

Why Savebo?

Savebo provides shoppers with a number of customer prepayment solutions that include prepaid brand subscriptions, customer saving plans and gifted store credit. Shoppers can use Savebo to access a range of premium and bespoke loyalty rewards such as bonus credit, free shipping or other subscription benefits, that are extended to customers when they save, subscribe or gift with partner brands. Prepayments that are made by customers are stored in a secure trust account held with National Australia Bank, where the merchant is the owner of the prepaid funds, and Savebo the custodian. Savebo's customer trust ensures that a customer funds are secure until such time their prepaid credit is redeemed for purchases. Shopper prepaid funds can be refunded under certain circumstances.

What can shoppers use Savebo for?

Shoppers can use Savebo to:

• Receive more value for when they subscribe to their favourite brands.

• Save faster for purchases and to secure products earlier without having to go back to the partners website where the product was originally found.

• Receive more value for when they gift credit to their favourite brands.

How can shoppers use Savebo?

To use Savebo, shoppers can: 1. Subscribe to parter brands 2. Save for partner products 3. Gift credit to partner brands When shopping online, look out for the below buttons on your favourite ecommerce stores' website or the Savebo logo in store. You can also shop directly with Savebo at www.savebo.com:

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Are Savebo's prepayment options flexible?

Savebo offers flexible weekly, fortnightly and monthly customer prepayment and saving plans. Shoppers can top up their wallet any time with any precise amounts of store credit and are given full control over their subscription plans, with features such as changing next payment date and skipping payments.

Minimum and maximum instalments amounts are set by partner businesses and may vary. There are no time-limits placed on the time period in which shoppers can save for a purchase. However please note, if there is a lapse in savings activity with the same merchant for a period greater than 18 months, a shopper's credit will expire and will no longer be refundable under any circumstances.

When do shoppers receive their bonus and store credit?

Shoppers receive bonus credit in their shopper wallet instantly upon making any purchase of store credit. Bonus credit can be redeemed for products and services instantly.

At what time of day are susbcription payments made?

Recurring transactions are processed through a batch system that takes place at midnight (12:00am) each night.

How does the lay-by or product hold work with Savebo?

Savebo offers an optional lay-by hold system that when integrated, aims to ensure that the product you are saving for is still available by the time you are ready to make a purchase. Savebo partners can specify the duration that they are willing to hold a product in inventory for, which can range from 0 months (i.e. no lay-by hold) to up to 6 months. As per Australian consumer law, when a consumer enters a lay-by agreement, a retail partners is obliged to make reasonable efforts to ensure that their product remains available to the time that they have saved up for it. If a retail partner does not activate their lay-by hold feature, then the purchase is considered a regular brand prepayment.

Is it possible to change the item I want to purchase after I have already started saving for it?

Yes. Savebo provides the flexibility to redeem store credit for any product or service offered by our retail partners. If you change your mind about a purchase, you can easily cancel the lay-by hold and browse for another product of your choosing.

How can I redeem my credit for goods and services in Savebo's wallet?

Shoppers can redeem their store credit and bonus credit by logging in to their shopper wallet and select the 'Redeem' option. From there, shoppers can use their credit to purchase goods and services from the retail partner.

How can I cancel my savings plan?

Shoppers have the flexibility to cancel any of their Savebo plans whenever they wish to. To do so, shoppers can simply log in to their shopper wallet, click on the Manage Subscription button, and select the Cancel Subscription option.

Can you explain how the store credit and bonus credit system works with Savebo?

Retail partners on Savebo can offer customers two types of store credit: Purchased Store Credit (PSC) and Bonus (or Loyalty) Credit (LC). Both PSC and LC are of equal value and can be used interchangeably to purchase products, services, and experiences either online or in-store. They function like real currency.

What is the expiration policy for store credit on Savebo?

Savebo has specific rules regarding the expiration of store credit. Any unused store credit, including both Purchased Store Credit and Loyalty Credit, will expire 18 months after the most recent purchase date of store credit from an issuing Merchant Partner. You can easily check the expiry date of your store credit by logging in to your shopper wallet or by visiting www.savebo.com/wallet. If you have any issues finding this information, please contact us through our support page.

How does Savebo protect my funds when I purchase store credit?

When a shopper purchases store credit, the associated funds are transferred to Savebo's Trust Account to safeguard them until they are redeemed or expire. This process protects consumers from financial loss if a retail partner becomes insolvent.

Purchased Store Credit sold by merchants is passed on to Retail Partners upon the redemption of credit for a product or service or upon expiry.

What happens after I purchase store credit on Savebo?

Upon purchasing store credit from a partner, Savebo will credit both Purchased Credit as well as any offered Bonus Credit to your Savebo wallet. The total value wallet value can be used immediately to make purchases from the Retail Partner.

What is the refund policy for Savebo store credit and what are the circumstances in which I can request a refund?

In general, PSC and LC store credits are considered non-refundable and will expire if not redeemed. However there are a few exceptions. A shopper may be eligible for a refund of their principal funds paid (minus any Service Fees or Termination fees) by paying a $30 cancellation charge per merchant refund. This charge covers the costs incurred by both Savebo and the Retail Partner. Additionally, Australian consumer law may provide for refunds in certain circumstances, such as hardship provisions, customer agreed returns, merchant partner failure or insolvency.

Are there any fees associated with using Savebo's wallet and account?

Savebo offers its wallet and account to shoppers at no cost. We charge a surcharge on Store Credit purchases, excluding the value of Bonus Credit of 1.5%. This fee is used to cover payment gateway costs.

Does Savebo's wallet and account offer any savings interest?

Savebo's wallet and account does not accrue interest on store credit. Rather than interest, customers are eligible for bonus credit rewards offered by merchants.

What are the ways to get in touch with Savebo?

Shoppers can reach out to us anytime by sending an email to our support address at [e-mail], or via our support page. Upon receipt of your note, one of our team members will promptly assist you with your enquiry.