How does ExtrasJar work?

ExtrasJar takes inspiration from the many budgeting philosophies of portioning up your income for separate expenses. With ExtrasJar, you’ll have flexible protection that provides coverage to your entire family. You can either choose a plan or create your own plan that complements your lifestyle, budget, and health needs!
Jump into it

ExtrasJar takes inspiration from the many budgeting philosophies of portioning up your income for separate expenses. Take health insurance extras, that insurers sell, it’s like a book of discount vouchers. It lets you reduce your out-of-pocket expenses on things like dental care, glasses or contact lenses, and clinical treatments like physiotherapy and psychology in exchange for a few hundred dollars a year. However, if your insurer doesn’t pay out more than your extras premium each year, then you’re probably worse off than before. Let’s face it, most of us only claim a little, if any. 

That’s why we created ExtrasJar, where people are paying less to gain more so they can easily budget for two dental check-ups a year, a new pair of glasses, and some physio sessions during the sporting season.  

It’s a no-brainer that you must start putting some money aside to cover healthcare expenses if you’re someone who values your health and wellbeing, and that of your family, and even your furry friends.

With ExtrasJar, you’ll have flexible protection that provides coverage to your entire family. You can either choose a plan or create your own plan thst complements your lifestyle, budget, and health needs!

Unsure where to start? You don’t have to worry any further because everything you need to know, from how to get started, to how your money will work for you in ExtrasJar will be covered here! 


Once you’ve made up your mind to start investing with ExtrasJar for your healthcare needs, you have to follow the simple steps below so you can get started.

Step #1: Choose a plan or create your own

Kick off your revolutionary journey in ExtrasJar by choosing a plan. Evaluate whether you want coverage for your health with the ExtrasJar Health Extras Account or you want to provide coverage for your furry friend with the ExtrasJar Pet Extras Account.

But, ExtrasJar gives you the freedom to create your own plan if you want to get coverage for both your health and your pets. After all, that’s what we want to give you – flexible protection. Do not hesitate to reach us out so we can discuss your desired plan and get a quote.

Step #2: Set up an ExtrasJar Extras Account

Create an ExtrasJar account by signing up with a unique email address and password. Afterwards, complete the online application process for an ExtrasJar Extras Account. In this step, you will need to provide one form of identification document for verification purposes such as driver’s licence, passport or Medicare card.

Note that by making an account, you agree to receive communications and disclosures in digital form only, including via email or the ExtrasJar app with a copy of, or hyperlink to the relevant communication. We assure you that these communication initiatives are for the betterment of your investment process and journey.

Step #3: Purchase Units

You will receive a notification from us that your ExtrasJar Extras Account is now verified. Which means, you can now start purchasing units as your investment. Simple and easy, right?

Make an investment in the units by direct debit from an Australian bank account that you nominate and which must bear your name. You can provide your direct debit instructions in the ExtrasJar app and on our website.

Direct debit is not available on the full range of accounts and at all financial institutions. We will not be able to process your payment if direct debits are not available on your bank account or you provide the wrong details. Please double check with your respective bank, if in doubt.

Step #4: Await for application processing and confirmation of investment

An order confirmation email will be sent to you after your units purchase. Note, your direct debit transaction will undergo a 3-day clearing period as we await for your bank to review and verify the purchase. ExtrasJar will not have any access to your funds during this 3-day window until the time passes. Only after then will we be able to proceed with processing your investment.

We will contact you in the first instance for instructions if your application or investment is unable to be processed. For example, if your application is incorrectly completed, your bank account does not allow direct debit, or the account details you provided are not correct. You will restart the application process should any of these scenarios arise.

Once your application and investments are accepted and units are issued to you, you will receive another notification confirming your investment through the ExtrasJar app or via email.

Step #5: Issuance of ExtrasJar Card  

The ExtrasJar Team will arrange and provide you with an ExtrasJar card, following the clearance of your funds and successful investment and purchase of units in your ExtarsJar Extras Account. Your card either covers personal health or pet, depending on your chosen account. 

The ExtrasJar Card is a digital reloadable prepaid Mastercard®, activated via Apple Pay or Google Pay. It will be a facility for making non-cash payments and/or transactions. The card is issued by EML Payment Solutions Limited (ABN 30 131 436 532; AFSL 404131) pursuant to a licence from Mastercard® Asia/Pacific Pte. Ltd. 

Terms and conditions of the ExtrasJar Card are available here.

We strongly advise that you review our legal documents, especially our Product Disclosure Statement (PDS) and Target Market Determination (TMD) before deciding to invest. This is to aid you with comprehensive general information about the investment journey and process.

As you review the documents, you will encounter the term “ExtrasJar Fund” or simply “Fund” most of the time. Below is a quick explanation to give you a context about it.

ExtrasJar Fund (ARSN 660 982 507) (Fund)

The fund is a unit trust and a managed investment scheme registered with the Australian Securities and Investments Commission under the Corporations Act. The money that you deposit into your ExtrasJar Extras Account is automatically applied to the purchase of units as your investment.

Now, what are units, you ask? You might be wondering what it is specifically as you come across this term early in this write-up.

Units are fully-digital investments purchased using your ExtrasJar Extras Account. It represents an undivided beneficial share in the assets of the fund as a whole, but not in any particular assets. 

The unit price or value of each unit is calculated based on the proportion of the net asset value of the Fund which relates to the “Extras” class of units divided by the total units issued in the class. It will vary as the market value of assets in the fund rises or falls.

You’re all set to start investing in units after accomplishing the steps above. Moreover, you can make additional investments on an ad-hoc basis or establish an investment plan at any time through the ExtrasJar app.

Ad-hoc investments are subject to a $10 minimum. Investment plans are subject to a minimum recurring amount of $10. We may close accounts with a zero balance at any time

Cooling-off Period

There will always be internal confrontations in every decision you make and we definitely understand if you happen to change your mind about your investment in the units.

You can exercise your right to cancel your investment by telling us in writing. You may do so during a 14-day cooling-off period, which commences on the earlier confirmation of your investment or 5 days after your units are issued to you.

The amount refunded will reflect any change in unit price and taxation, as well as changes due to transactions on your ExtrasJar card. It may be less than the amount you initially invested.


You are eligible to create two plans in an ExtrasJar Extras Account. One for the ExtrasJar Health Extras Account and the other one for the ExtrasJar Pet Extras Account. But note that you are only allowed to create one plan for each. You cannot make two plans under the ExtrasJar Pet Extras Account or vice versa.

We will issue your ExtrasJar card after you set up your ExtrasJar Extras Account and complete the application process. It will cover health extras or pet extras, depending on your chosen account. If you set up both accounts, we will provide you with two different cards. Once you have your ExtrasJar card, it will be available for provision to your digital wallet in Apple Pay or Google Pay

The ExtrasJar card can be used to purchase either authorised healthcare general treatments if you set up a health extras account, or authorised pet transactions if you get the pet extras account. Please see your card terms and conditions to see a list of treatments and/or transactions for your account. You are also eligible to purchase any other goods and services using it wherever Mastercard® cards are accepted but there will be corresponding fees as disclosed in our PDS here.

You can pay with your ExtrasJar card in several ways: at an outlet within Australia that has an EFTPOS Device; over the telephone or the internet by providing the PAN, expiry date, and security code; or at outlets overseas wherever Mastercard® cards are accepted.


Allow us to also provide information on how your money is invested now that you already know how to get started with ExtrasJar. This is for full transparency on how your hard-earned savings will have the potential to grow for your future.

The Fund’s asset allocation is made up of Exchange Traded Funds (ETFs) with an allowance for cash and cash equivalents to efficiently manage the Fund. The Fund’s assets are typically invested within the following asset allocation ranges:

  • Cash and Cash equivalents: 10-60% of the Fund; and 
  • ETFs: 40-90% of the Fund

A detailed description of the investment profile is available in our PDS.

We’ll review the investment objective and strategy regularly. We aim to provide you with at least 30 days advance notice before material changes to any investment objectives take effect.

To achieve the fund’s objectives, we set what we believe to be an appropriate investment strategy and asset allocation, and select the appropriate investments accordingly.

We monitor and review the fund’s performance, investment strategy, investments, and implementation processes to ensure that they are consistent with the investment objectives. Adjustments may be made to these without prior notice where appropriate


We at ExtrasJar, understand that you want to protect yourself and your family while enjoying flexibility in your plan as your money also works for you. And that’s what we’ll give you because we also want that for ourselves.

Recognising this, the following are the significant benefits of investing in ExtrasJar’s units:

  • Regular savings for authorised transactions – we believe that regular investments help grow savings which can be used to help manage the costs of your health or pet extras (as applicable). You can contribute to your ExtrasJar Extras Account frequently by setting automatic recurring deposits or by one-off contributions. 
  • Withdrawal at any time – you can request a withdrawal of all or part of your investment from your ExtrasJar Extras Account, at any time. We will dispose of sufficient investments in units to pay the withdrawal proceeds in cash generally within ten (10) business days. There are no fees or penalties for cash withdrawals. Some withdrawal requests may be subject to rounding and market risk. 
  • Simple, transparent fees – a simple fee, charging a funds management fee, a monthly platform and ExtrasJar Card fee and a fund expense fee. 
  • Low barriers to get started – competitive fees with a minimum investment of only $10 a month.

Now, ExtrasJar also acknowledges that all investments entail risks because nothing is guaranteed. So, aside from the benefits, you must also take note of the following significant risks in investing in the units:

  • Performance risk – investments are volatile, meaning their value can go up or down, at any point in time. Returns are not guaranteed and you may lose money. Investment returns will vary and future returns may be different from the past returns. Risk impacts vary for individual investors depending on age, investment time frame, other investments held, and risk tolerance.
  • Investment objective risk – some of the underlying ETFs may not achieve their investment objective. This may mean that the generated return may differ from the stated investment objective.
  • Market risk – external factor changes such as in financial markets, the economy, political changes, technological developments, and changes in market sentiment continually affect the value of investments and the level of income they generate. 

For instance, if you request a full cash withdrawal or close your ExtrasJar Extras Account, the amount you receive may be different (including less) from the last value displayed in your ExtrasJar Extras Account, due to market movements.

  • Operational risk – the risk that the responsible entity, the custodian, or ExtraJar’s operational processes and procedures may malfunction or fail. 
  • Fund risk – the fund can terminate, fees and expenses can increase, and the responsible entity or any service provider may change. There is no guarantee that the investment strategy of the fund will be managed successfully. 

Investment in the fund is governed by the laws affecting managed investment schemes, the constitution and this PDS, each of which may be amended from time to time.

  • Authorisation risk – the risk that your investment is accessed by another person that pretends to be you (e.g., by using the ExtrasJar Card to make withdrawals).


A successful purchase of units in the fund of your ExtrasJar Extras Account means that you are a step away from being eligible for distribution.

Distributions will generally include the proportion of the fund’s net income. It is earned from holding and disposing of the fund’s assets during the year, which relates to the “Extras” class of units, taking into account taxable gains and losses. This is divided by the total number of units issued in the “Extras” class at the end of the day that the distribution is calculated, to determine the income per unit.

Unitholders are then issued additional unit equivalent in the value to the income per unit, multiplied by the amount of unit held by the unitholder at the end of the day that the distribution is calculated. 

Generally, we calculate distributions annually on or around 30 June each year and pay distributions within ninety (90) days of that date. We may change the timing of distributions, or whether one will be paid for a particular year, at our discretion. You must be a unitholder on the distribution calculation date to be eligible for a distribution.

What if I want to withdraw my investment?

You can withdraw your investment in the unit via the ExtrasJar app or from the fund using your ExtrasJar card. If you wish to withdraw through the app, you just need to submit a request electronically through the ExtrasJar app. You will redeem the units that you hold in the fund when you ask to withdraw your investment.

Meanwhile, you can also withdraw up to 90% of your total balance (Available Balance) in a day by using your ExtrasJar card to pay for authorised treatments and/or transactions.

Make sure to always be conscious and on top of your transactions because you direct us to process them each time you use your ExtrasJar card for healthcare treatments. Please note that we cannot stop a processed transaction.


We always want to give you a revolutionary peace of mind in your entire journey with ExtrasJar. Peace of mind that you and your family up to your furry friends are protected, you can grow your funds for your future, and ultimately, peace of mind that your money is in good hands. Following this, we ensure that we are affiliated with highly-capable and trusted companies to take care of your hard-earned savings.

ExtrasJar is an appointed company to manage the fund and its investments and to provide administration, promotional, and other services related to it. 

We are appointed by Quay Fund Services Limited (ABN 84 616 465 671; AFSL 494886) – the responsible entity of the Fund and the issuer of the Units. As a responsible entity, they are in charge of operating the Fund and for the Fund’s compliance with its constitution (Constitution), the Corporations Act 2001 (Cth) (Corporations Act), and other relevant laws.

Quay Fund also appointed Certane CT Pty Ltd (ABN 12 106 424 088; AFSL 258829) to be the custodian of the Fund. Their role as custodian entails being responsible for holding the fund’s assets in its name and acting in the direction of Quay Fund (the responsible entity) to affect cash and investment transactions.


We recognise that there are other institutions out there with the same claims. But with ExtrasJar, we always ensure that we are fulfilling our promises to you in all aspects. 

Our revolutionary approach roots in our personal experiences in a range of industries and consequently enables us to form a reliable, customer-focused service that works for your success.

An ExtrasJar account allows you to save and pay for general healthcare treatments, which we call “Extras” by making one-off and/or periodic deposits. Your deposits will be used to purchase Units in the ExtrasJar registered Managed Investment Scheme (Australian Registered Scheme Number (ARSN): 660 982 507). You can use your units in the fund to pay for healthcare extras with your ExtrasJar card using your available balance.

What sets us apart is that most managed investment schemes feature long delays when it comes to accessing your savings. Many also disallow using it directly at the point of sale. With ExtrasJar, we transform that reality, allowing you access to your funds at any point.

ExtrasJar ensures a revolutionary approach that flips the traditional insurance model on its head. We treat the premiums you pay as your money, not ours. That means no out-of-pocket surprises, no expensive premiums and unknown limits, it’s your money. Instead, we’ll give you all the things you love about insurance, with none of the bits you don’t.


Australian residents 18 years or older with an Australian residential address are eligible to apply and invest in ExtrasJar. Those who are outside the jurisdiction of Australia are not eligible for such offers at the moment.

And there you have it! A flexible investment and health plan, for you or your pet, it is so easy and hassle-free with ExtrasJar. You can now take back control and protect your entire family with innovative health and pet coverage by just following the simple steps above.

Your health is your greatest wealth, hence, investing in healthcare needs is not an additional expense, but rather security. With ExtrasJar, you will have the peace of mind that you and your entire family are protected, without compromising your savings. Start investing now whilst protecting your, your family’s health, and even your furry friends’ health.

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