Frequently Asked Questions

How long has Win Securities Limited been in operation?

Win Securities Limited has provided financial services to investors for over 26 years.

How do I invest?

To make an initial investment in Winsec Notes with us, simply complete the Application Form accompanying this Prospectus and either mail it to us or call into our office with your funds. Subsequent investments can be made using any method we approve.

Who can apply to invest?

Investments can be opened in single or joint names, or in the names of partnerships, companies and other incorporated bodies. Accounts for trusts should be opened in the name(s) of the trustee(s).

Is there a minimum opening balance?

A low initial investment of $500.00 will be accepted during the currency of this Prospectus for fixed term investments.
“31 Day Notice” Winsec Notes require a minimum investment of $100.00. Subsequent investments may be for any amount.

Are there any fees or charges?

There are no establishment charges, no ongoing fees and no exit fees which apply to any investment pursuant to this Prospectus. Government taxes may be passed on to investors.

Is there a choice of terms available?

You are able to invest with us on a fixed term basis ranging from 60 days to 24 months or by way of a "31 Day Notice" Winsec Notes account.

How is interest paid?

Interest on “31 Day Notice” Winsec Notes must be compounded to your account with us. Interest on fixed term investments may be added to the deposit, credited to a “31 Day Notice” account with us, sent by cheque or electronically transferred directly to another financial institution in accordance with your payment instructions.

How is interest calculated?

Interest is calculated in the investment balance on a daily basis from the date of receipt of your application monies, except if received after 4.00 pm in which case it will be calculated from the next business day in Victoria.

When is interest payable?

Interest is payable in arrears on “31 Day Notice” Winsec Notes on the 28th day of each month or the next business day. Interest on fixed term investments is payable at maturity except for twelve and twenty-four month deposits which can be paid monthly, quarterly, half-yearly or annually from the date of deposit.

Can I add to an existing investment?

Additions to investments for the remaining period of the original fixed term investment may be accepted, at our discretion, provided the interest rate for the additional investment is the same as the interest rate for the original investment. Your subsequent investment can be for any amount. You may add to a “31 Day Notice” Winsec Notes investment at any time, but you will not be able to redeem additional funds for 31 days from the date they are invested.

Is there a limit when adding to an investment?

No. If accepted, any amounts may be added to the principal balance of your investment.

Can I have money invested for my children?

Yes. Money may be invested in the name of a child or grandchild. The account should be opened in an adult’s name as trustee for the child or grandchild.

The child’s Tax File Number or, if you are claiming a Tax File Number exemption for the child, the child’s date of birth, should be specified on the Application Form.

What do you do with the funds I invest?

The Company lends against registered mortgages over real property in Australia with the balance of the funds invested in Australian banks and other investments as permitted by the Trust Deed.

Is repayment of my investment secured?

Repayment of all monies that have been or may be deposited with the Company for investment in Winsec Notes is secured by a charge over the whole of the assets and undertaking of the Company in favour of Melbourne Securities Corporation Ltd as Trustee for the holders of Winsec Notes.

What happens when my fixed term investment reaches its maturity?

Approximately two weeks before the investment falls due we will notify you in writing of the upcoming maturity of your investment and offer you the opportunity to reinvest with us for a further term.

A current Prospectus (and any relevant ongoing disclosures) will be available to download on the Company’s website www.winsec.com.au

A hard copy will be provided free of charge on request.

How will I know you have accepted my investment?

We will forward to you a “Certificate of Winsec Notes” as soon as reasonably practicable and in any event within two months of receipt of application monies for fixed term investments. “31 Day Notice” Winsec Note depositors will receive a deposit booklet containing a receipt.

Early Withdrawal

The Company will consider early withdrawals from a “Fixed Term” investment only in special circumstances. This will be at the sole discretion of the Company, and will be subject to a 1% adjustment of the interest rate (see Section 6.6).
In line with the Banking exemption No. 1 of 2015, withdrawal requests to 31 day notice accounts will require at least 31 days' notice to be given to the Company.
The Company will consider exemptions to this 31 day notice only in cases of hardship and compassionate grounds as per the Company's Hardship Policy.
The exemption criteria for 31 Day Notice Winsec Notes may include, but are not limited to:
1. Suffering an Illness or injury
2. Unemployment or reduction in working hours
3. Emergency or natural disaster
4. Significant life events such as family death or relationship breakdown
5. Sudden changes in income or expenditure All early withdrawal requests shall be approved by the Board of Directors.

What do you do if you have a complaint

The Company’s policy is to handle complaints by holders of Winsec Notes (“Winsec Noteholders”) promptly and fairly. Winsec Noteholders who have a complaint concerning a decision by the Company in relation to their Winsec Notes, may lodge a complaint with the Company in person, by telephone or in writing to the Company’s registered office at: 37 Reid Street, Wangaratta, Victoria.
We will acknowledge receipt of your complaint within 7 business days and advise you of our decision on your complaint within 45 business days. If you feel we have not satisfactorily resolved your complaint, you may refer your complaint to an independent and external complaints handling body called the Australian Financial Complaints Authority (AFCA). 

Details of how to access this service are available at the Company’s registered office or contact AFCA direct at:
G.P.O. Box 3, Melbourne 3001, or phone 1800 931 678  (9am - 5pm AEST).

Email info@afca.org.au or via their website www.afca.org.au 

Does Win Securities Limited provide financial advice?

The Company has chosen not to provide financial advice.
The Company and its representatives are able to provide you with factual information only and make no recommendation or suggestion that you invest in a particular investment as this is considered to be financial product advice. The Company’s representatives are more than happy to provide you with whatever factual information you may require in relation to Winsec Notes.

Taxation

The taxation consequences of any investment in Winsec Notes will depend upon the circumstances of each investor. The Company and its officers do not accept any responsibility or liability for any taxation consequences.
Accordingly, investors should seek their own professional advice as to the taxation consequences of investing in Winsec Notes.
The Company will accept applications which do not specify the Tax File Number of the applicant but the Company is required to deduct withholding tax from interest distributions unless a valid Tax File Number exemption is quoted.
These answers to your commonly asked questions are not meant to provide you with all the information about an investment in Winsec Notes in the Company. It is important that you carefully read this Prospectus in its entirety before deciding to invest in Winsec Notes.