WHAT IS A TMD?
A TMD document describes who Volt’s financial products might be suitable for (our target market) and any conditions on how the product may be distributed. It also describes the circumstances of when we may need to review our Target Market Determination.
WHY DO WE NEED A TMD?
The Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 introduced the design and distribution obligations as an amendment to Ch 7 of the Corporations Act. This law requires us to have TMDs from the 5th October 2021 for all our financial products. The purpose of this law is to ensure that we design and promote our financial products to specified customer types which are suitable for their needs.
IS THE TMD THE SAME AS THE PRODUCT TERMS AND CONDITIONS?
No. The TMD does not provide a full description of the T&Cs applying to our products and is not intended to act as financial advice. Its purpose is to describe the type of customer the product was designed for.
You must always refer to the Product T&Cs when making a decision about whether to take a product offered by Volt.
WHERE CAN I OBTAIN A COPY OF THE TMD?
For our deposit and loan products, refer to the links below. For a list of any Volt products distributed through our referring Partner channels, feel free to email or contact us at firstname.lastname@example.org or by phone 13VOLT (13 8658) during standard business hours.