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The great news is that, thanks to MyMoney Australia, many families could be eligible to receive cash they didn’t even know they could access.

MyMoney Australia (www.mymoney.com.au) is a new commission refund service that gives families an easy, cost-effective way of reclaiming the money they pay as fees buried in a raft of financial products.

The service is a major consumer innovation available to anyone with superannuation, life insurance, managed funds or various other types of investment products. It works by rebating consumers the fees they are charged by fund managers and insurance companies. These fees are used to pay commissions but if the client has no active relationship with a financial planner they are simply wasted.

MyMoney is not only completely web-based and user-friendly, it also pays commission refunds every month directly into customers’ bank accounts.

In a few simple steps, and without having to make any changes to their existing financial products, any family with financial products can start to receive regular cash refunds of fees they are probably unaware they are paying.

Put simply, MyMoney gives consumers control over their commission payments that they did not have before.

“It’s so easy, and if families join up today, they can start receiving cash rebates almost immediately, a perfect way to help pay for the extra spending that comes with the Festive Season,” Sales & Marketing Director of MyMoney Australia, Paris Kritikos said.

“Generally, you cannot turn off these commission payments, but you can say where they should go, as long as they go to a holder of an Australian Financial Services licence.

“When you simply change your servicing adviser to MyMoney, we collect these commissions and pay them back to you, direct to your bank account every month. Everything else about your investments remains the same,” he said.

Some of the key features of MyMoney that make it so attractive are:

• No joining fee
• No minimum annual fee
• Fee automatically comes out of commission rebates
• Maximum annual fee of $240 per family account
• No change to your existing investment and insurance products

Online registration is quick, easy and free, and MyMoney has kept to an absolute minimum the amount of paperwork customers need to complete in order to activate their account.

Once signed up, MyMoney customers get immediate 24/7 online access to their refund balance information, and receive a monthly activity statement as well as their monthly direct bank account payments.

Financial products covered by MyMoney include managed funds, retail superannuation, allocated pensions, cash management accounts, margin loans and life insurance.

The service is risk and hassle-free and completely transparent.

MyMoney has been built by professionals who have many years’ experience in the development of commission management systems in the financial services sector.

“We’ve designed MyMoney as a user-friendly model with the needs of consumers taken into account. There is no effect on a family’s existing financial products and the direct monthly payments into their bank accounts means they have an easy incentive for saving money or paying some of those extra bills,” he said.

For further information, please contact:

Paris Kritikos
Sales & Marketing Director
MyMoney Australia
M: 0419 278 753
E: paris.kritikos@mymoney.com.au

Graham Burnard
Sales & Marketing Director
MyMoney Australia
P: 02 8226 1515
M: 0409 314 492
E: graham.burnard@mymoney.com.au

Simon Lloyd
Access Public Relations
M: 0424 470 923
E: simon@accesspr.com.au

About MyMoney Australia

MyMoney Australia Pty Ltd provides investors with access to commissions that are paid by financial product providers to financial advisers. The company is an authorised representative of Global Mutual Funds Pty Ltd, a privately-owned Australian Financial Services Licence holder. The principals of MyMoney have more than 40 years of combined experience in commission management services and information technology. The MyMoney service has been designed as an efficient, cost-effective and simple web-based facility from which investors can receive the commissions payable on financial products that are generally paid to financial advisers. Rebated commissions obtained by MyMoney are credited directly into clients’ nominated bank accounts on a monthly basis. MyMoney does not offer financial advice to clients.