By agreeing to this Privacy Consent and Electronic Authorisation, you consent to MoneyMe Financial Group Pty Ltd ACN 163 691 236, Australian Credit Licence Number 442218, trading as MoneyMe (hereafter we, us or our), our related bodies corporate, affiliates and agents collecting, using, holding and disclosing personal information (including sensitive information) and credit-related information about you. You can find out more about how we deal with your privacy and the personal information (including sensitive information) and credit-related information that we hold about you by viewing our Privacy and Credit Reporting Policy.
1. What is Personal Information?
The Privacy Act 1988 (Cth) defines “personal information” as information or an opinion about an identified individual, or an individual who is reasonably identifiable whether the information or opinion is true or not and whether the information or opinion is recorded in a material form or not. The kinds of personal information we may collect about you include your name, date of birth, address, account details, occupation, and any other information we may need to identify you, including publicly available information from public registers and social media. If you are applying for credit, we may also collect the number and ages of your dependants and cohabitants, the length of time at your current address, your employment details, and proof of earnings and expenses.
Sensitive information is personal information that includes information relating to your racial or ethnic origin, political persuasion, memberships in trade or professional associations or trade unions, sexual preferences, criminal record, or health.
“Credit information” means information about you such as your identity information, repayment history, the type and amount of credit provided to you, default and payment information, personal insolvency, court proceedings and any other publicly available information that relates to your credit worthiness. “Credit reporting information” is any personal information derived by a credit reporting body from credit information held about you bearing on your credit worthiness. Credit information and credit reporting information are, together, “credit-related information”.
2. Why Do We Collect Personal Information?
We may collect, use, hold and disclose personal information and credit-related information about you for the purposes of:
- fulfilling our functions and responsibilities under, and facilitating compliance with, the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), the Anti-Money Laundering and Counter-Terrorism Financing Rules and the Corporations Act 2001 (Cth) and associated regulations (which require and authorise us to collect certain information), including to maintain regulatory and corporate records;
- providing you with consumer credit and managing that credit, including accepting, assessing and processing your application for a loan, undertaking risk assessments involving credit scoring, identity verification and fraud prevention and performing collections activities;
- managing our relationship with you and allowing us to perform administrative tasks;
- communicating with you about our products and services, including direct marketing of products, new products and services offered by us;
- undertaking quality assurance and audit activities to manage and assess our services and products; and
- providing information to third parties as authorised or required by law.
We may collect, use, hold and disclose your sensitive information (particularly your health information) if it is reasonably necessary for the type of credit we are providing you with. For example, if you submit an application with us to finance a medical procedure, we may collect your health information for the purpose of assessing your application and may disclose this health information to your surgery provider.
Your information will be collected and held by us and some of our third party service providers so that we can provide you with a range of services. In some cases, we may receive your personal information or credit-related information from a third party (for example, when we electronically verify your identity with third party providers).
3. What If We Didn’t Collect Personal Information?
Without your personal information and credit-related information, we may not be able to process your application for a consumer credit, respond to your requests, perform our functions or provide you with some or all of our products and services.
4. Who Can We Disclose Your Personal Information To?
Your personal information may be provided to:
- credit reporting bodies to obtain a credit report for the purpose of assessing your loan application and managing the consumer credit provided. Information we disclose may include that you have applied for a loan, the amount of the loan, our status as your credit provider, payments that have been made on time, payments that are overdue, payments that are no longer overdue, when you are in financial hardship, when a serious credit infringement has been committed, or that the full amount of your loan has been paid (or your loan has been otherwise discharged). The information we exchange with credit reporting bodies may be included in reports that the credit reporting bodies give other organisations (such as other lenders) to help them assess your credit worthiness. Some of the information may adversely affect your credit worthiness (for example, if you have defaulted on your loan) and, accordingly, may affect your ability to obtain credit from other lenders;
- third party service providers to verify your identity against the information held on your credit file and to obtain your banking transaction history. We will engage with relevant registries using third party systems to match details contained in your Australian passport, driver licence, Medicare card, birth certificate and any other identification documents you provide us. We will also obtain the last 90 days of bank statements from your account for the purpose of assessing your loan application;
- any persons who represent you, including your finance broker, legal and financial advisers or personal and business referees;
- your employers, or payroll or other service providers who might act on behalf of your employers, to verify your identity and collect your employment and income history and related information from such parties to allow us to verify your employment and income (these checks will be performed in accordance with the Equifax Verification Exchange Privacy Collection Statement);
- Government entities such as Centrelink, the Australian Financial Complaints Authority, AUSTRAC, the Australian Taxation Office or other government departments, agencies or bodies and overseas regulators (if required);
- third party service providers to obtain personal information about you under the Freedom of Information Act from any motor vehicle or driver licence registry in Australia while any liability is outstanding to us, without reference to you;
- any investors, agents or advisers, trustees, ratings agency or businesses assisting us with funding for credit made available to you, or any entity that has an interest in your finance or our business;
- our related bodies corporate, subsidiaries, professional advisers, financiers, financial institutions, auditors, associates, debt collectors, contractors (including any of our overseas associates who may assist us in providing our products and services to you);
- other credit licensees (who may be a related body corporate of ours, such as SocietyOne Australia Pty Ltd or Broker Services Pty Ltd), including other credit providers, credit assistance providers or lead providers) where we are unable to assist you or consider you may need credit assistance in respect of other consumer credit options available. In this instance, you agree we may disclose your personal information to other credit licensees (who may pay us a fee for referring you to them, though this fee will not be passed onto you) who may either provide a service to you or refer you onto another credit licensee;
- any person considering acquiring an interest in our business or assets;
- other financial institutions – for example, to process a claim for mistaken payment;
- related bodies corporate or associated businesses that may want to market products to you;
- any of our associates, related bodies corporate or contractors such as claims related providers, including assessors and investigators that help us with claims; and
- any person where we are authorised to do so by law, such as under the Anti- Money Laundering and Counter Terrorism Financing Act 2006 (Cth) or by government and law enforcement agencies or regulators.
5. Overseas Disclosure
We may disclose your personal information and credit-related information to overseas entities, including related entities and service providers located overseas in New Zealand, USA, Canada, India, Ireland, the United Kingdom or the Philippines. Overseas entities may be required to disclose information to relevant foreign authorities under a foreign law. More information on overseas disclosure may be found in the entities’ privacy policies.
6. Verification of Identity
We may disclose your name, residential address and date of birth to an organisation, including a credit reporting body or other organisation (including the document issuer or official records holder via third party systems and services), to verify your identity. The organisation will use this information to give us an assessment/ report of whether or not the information we have matches information held by the organisation. If we use these methods and are unable to verify your identity in this way, we will let you know. We may also use information about your Australian Passport, state or territory driver licence, Medicare card, citizenship certificate, birth certificate and any other identification documents to match those details with the relevant registries using third party systems and to record the results of that matching. Note: If you do not provide this consent, we will verify your identity in another way, which may require you to provide various supporting identification documents (either original or certified copies).
7. Electronic Authorisation
You consent to receiving notices and other documents electronically or via the member log-in area via our website. You agree that by giving this consent:
- we will not send paper copies of notices and other documents to you unless required by law;
- you must regularly check your nominated email address for notices and other documents;
- we will either make all notices and other documents available for a reasonable period of time in the members log-in area on our website for retrieval by you, or we will send you such documents electronically; and
- you may withdraw your consent to the giving of notices and other documents by electronic means at any time provided that you submit an alternative method for us to communicate with you.
8. Your Consent
By clicking ‘Next’, you confirm that you:
- have read and understood this Privacy Consent and Electronic Authorisation; and
- consent to MoneyMe collecting, using, holding and disclosing your personal information and credit-related information in accordance with these terms;
- consent to receiving notices and other documents electronically or via the member log-in area via our website; and
- consent to the disclosure of your name, residential address and date of birth to a credit reporting body or other organisation (including the document issuer or official records holder via third party systems and services) for the purposes of electronically verifying your identity as set out above.