What’s new in Swag? June product wrapup

Welcome to Swag’s first very edition of our Monthly Product Update: the June product wrapup. Since our launch in March, it has been a busy few months bringing new features to the app and resolving bugs to continually improve our user experience.

We will continue to bring a snapshot of all the new features that have landed in Swag to help you work smarter every day. It’s all made possible because your employer chooses Employment Hero. Here’s the June product wrapup:

What’s new in the Swag app? 

Swag Stash accounts

In the Swag Money tab you’ll find a new feature called Swag Stash accounts. Users who have set up a Swag Spend account will be able to open up to nine sub-accounts to transfer and allocate funds from their main Swag Spend account. 

You can name these accounts, and set targets to help budget better and track expenses. Swag Stash accounts can be set up for Travel, Bills, Groceries, Wellness, Social events and more. We designed Swag Stash accounts to give Swag users complete visibility of their expenses to help simplify budgeting. These sub-accounts are a bit different from  savings accounts —while they don’t earn interest, they are designed to help you set budget goals and put money away towards bills, expenses and savings. 

Why create Swag Stash accounts? 

If you’re stressed about your finances, you work and personal life can also suffer. Swag research shows that 46% of Australian workers are struggling to budget for necessities, and 72% have experienced negative emotions and behaviours – like a dip in their motivation at work – as a result of financial stress. Features like the Swag Stash accounts gives you the tools to achieve greater financial wellbeing and make the most of your pay. 

Learn more about Swag Stash accounts here.

Redeem Hero Dollars with your Swag Visa Debit card

You can now redeem your well-earned Hero Dollars anywhere, any time with your Swag Visa Debit card. Setup is simple and you can shortly choose to spend your Hero Dollars anywhere you choose. A 3.5% Hero Dollar transaction fee applies.

All you need to do is set up a Swag Spend account and opt in to ‘Redeem Hero Dollars with your Swag Visa Debit card’ in the Card or Hero Dollars tabs. Then you can make purchases as usual using your Swag Visa Debit card. Once the transaction is settled (typically within 48 hours), your Hero Dollars will be redeemed and you’ll be reimbursed for the transaction. If you have the setting on, we will draw down on what is left of your Hero Dollars balance to reimburse the transaction. 

Regularly update the Swag app in the Google Play or App Store to access new features. 

Import and save your Superannuation details 

Swag gives you the ability to conveniently access your Superannuation information whenever you want. You can import and save your superannuation details via the Money tab to keep your super details in one place. Soon you’ll be able to take control of your superannuation making it easier to manage, contribute and grow.

By integrating Superannuation functionality into the Swag employment superapp, we offer you a streamlined experience, allowing you to view and manage your Superannuation information alongside your employment documents and financial information. Enjoy the convenience and ease of accessing all these details along with a world-class benefits program from your employer —all in one app.

Coming soon in the Swag app, you can also ask your employer to pay part of your pre-tax pay into your super account. This is known as salary sacrificing. 

Learn more about importing your Super details here.

Don’t forget to update your Swag app to get access to the latest features and bug fixes. 

Swag is a brand of Employment Hero Financial Services Pty Ltd (EHFS) 58 606 879 663. Employment Hero Financial Services Pty Ltd has been appointed as an authorised representative (001234046) of Hay Limited (ABN 34 629 037 403 AFSL 515459), who is the issuer of the Swag Spend Account and associated Swag Visa Debit card. You are required to read the Financial Services Guide (which you agree to be provided by accessing this link). Any information given does not take into account your objectives, financial situation or needs so please consider whether it is appropriate for you. Please also ensure you read and consider the Product Disclosure Statement (which you agree to be provided through this link) that includes all fee information before making any decision about the product. The Target Market Determination is also available here. Fees and charges may apply. Please visit the Swag Spend Account Terms & Conditions for more information about the product, our Privacy Policy and other important legal documents.