Collection and use of your information
Rate Money and its representatives will only seek to collect necessary information from you in order to provide you with the credit assistance you have sought from us. We may also use this information for purposes associated with our services such as follow-up calls to assist you.
Information will generally be collected directly from you and this may be done in person, over the phone or via digital channels.
Types of information we may access
When we refer to ‘personal information’ we mean information or an opinion about an identifiable or reasonably identifiable person. The personal information we will collect, and hold will include your name, date of birth, gender, telephone number, address, email, employment details and any other information we may need to identify you. Personal information may include any sensitive information (including health information) and may include any information you tell us about any vulnerability you may have.
a) assess and verify your identity and financial situation;
b) assess your credit application, or your suitability as a guarantor to a credit application;
c) provide such information to a guarantor or related applicant;
d) exchange your information with a credit reporting body;
e) disclose your information to credit providers as set out in our ‘Credit Provider Schedule’ to arrange credit;
f) disclose your information to an insurer to arrange insurance you wish to obtain;
g) obtain from, and disclose to, third parties such as your employer, landlord, real estate agent, lending institution and guarantor who are deemed as reasonably necessary to arrange finance and/or insurance; and
h) refer you to other organizations, service providers or business partners or obtain referrals from them to you
i) We may not be able to proceed with credit assistance without the ability to collect, hold, disclose and use your personal and credit information.
Verification of Identity
There are laws that affect organisations that may require us to collect personal information about you. For example, we may require information about you to verify your identity under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/ CTF Act).
Services without your personal information
Generally it will be necessary for us to identify you in order to assist you with finding a product that meets your needs, however, where it is lawful and practicable for us to do so we will allow you to conduct business with us to the full extent possible without providing us with your personal information such as making general enquiries about promotional offers.
Disclosure of personal information
We will disclose or exchange your personal and credit information to the following persons:
a) potential credit providers and/or insurers as part of our credit assistance process;
b) third parties to verify the details provided are correct, including with your agents, guardians, attorneys and employers;
c) finance consultants, accountants and auditors, real estate agents associated with the property purchase, conveyancers, legal advisers, insurers and mailing services
d) our related body corporates, assignees, agents, contractors, advisers and finance aggregation partners;
e) law enforcement, government and regulatory bodies;
f) any person who refers you to us for credit assistance;
g) joint applicants and guarantors;
h) any financial institution to, or from which a payment is made;
i) debt collection agencies; and
j) any person considering acquiring an interest in our business or asset
Whilst we are not likely to disclose your information to organisations overseas, we may store your information in cloud or other types of networked or electronic storage. As electronic or networked storage can be accessed from various countries via an internet connection, it is not always practicable to know in which country your information may be held.
Australian based companies we may disclose your information to, may outsource the processing of loans, storage of data, marketing, technical support, billing support, commission management to an overseas contractor and, in order to facilitate this, provides the overseas contractor with personal information about you. In the case of other credit providers, you can find out the location of these organisations in in their privacy policies.
Authority to make requests
You authorise us to make requests for personal and credit information from credit providers and credit reporting bodies. By signing this Privacy Consent, you consent to the credit providers listed in the schedule to this consent doing any of the following:
a) where you are the borrower—obtaining information or a report about your commercial activities or commercial credit worthiness for the purpose of assessing your application from any business which provides information about the commercial credit worthiness of persons (this includes a credit reporting body);
b) where you are the borrower; giving to and obtaining from any credit provider named in your credit application or in a credit report on you issued by a credit reporting agency, information about your credit arrangements for purposes of:
I. assessing your application for credit;
II. notifying a default by you;
III. allowing another credit provider to ascertain the status of your finance arrangements with us where you are in default with one or more other credit providers; and
IV. generally assessing your credit worthiness;
c) where you are the borrower—disclosing personal and credit information to a person you have nominated to act as guarantor for the purpose of the guarantor considering whether to offer to act as a guarantor or offer property as security for the credit; and
d) where you are the guarantor—obtaining a report about your credit worthiness from a credit reporting body for the purpose of assessing whether to accept you as a guarantor.
You acknowledge and agree that the information referred to above can include any information about your personal and/or commercial credit worthiness, credit standing, credit history or credit capacity which the Privacy Act 1988 (Cth) allows credit providers to give to or receive from each other.
Credit reporting bodies
a) disclosure of details such as name, date of birth and address to obtain a credit report on the applicant or guarantor in our capacity as an access seeker in the credit assistance process;
b) use any information provided by a credit reporting body to assist us in conducting a preliminary assessment of a proposed credit application and its suitability to the applicant; and
c) request a credit reporting body to provide us with an assessment of whether information provided by the applicant or guarantor matches that in the credit report to verify the identity of applicant and/or guarantor.
We may submit a credit application to credit providers listed in our ‘Credit Provider Schedule’. If a credit provider holds pertinent credit eligibility information, the credit provider must share this information with us, yourself or someone you have authorised to act on your behalf. Credit providers may also engage directly with a credit reporting body and you can ascertain the details on this and how they handle personal and credit information via their websites which are listed in our ‘Credit Provider Schedule’. If your credit application proceeds with a credit provider you may be asked again for your consent to collect, store and use your personal and credit information by this credit provider.
You have the right to ask:
a) that we provide you with the personal and credit information we hold about you;
b) that we correct any personal and credit information we hold about you that is shown to be incorrect;
d) the credit reporting body does not use your personal information for assessment purposes or direct marketing; and
e) the credit reporting body provides you with a copy of information it holds about you.
To access and/or seek correction of your personal or credit information we hold, or make a complaint about privacy, you can contact us on 1300 936 668 or by emailing us at email@example.com or registered post to Level 4, Suite 402, 54 Miller Street North Sydney, NSW 2060
We may contact you from time to time with marketing information about the products and services we provide. You can opt-out of receiving direct marketing communication from us at any time. If you do not wish to receive marketing information, you may at any time decline to receive such information by telephoning us on 1300 936 668 or by emailing us at firstname.lastname@example.org. If the direct marketing is by email you may also use the unsubscribe function. We will not charge you for giving effect to your request and will take all reasonable steps to meet your request at the earliest possible opportunity.
If you provide us with an email address or mobile phone number, you consent for us to use these details to send you, or make available to you, notices and relevant documents, including those from a credit provider or insurer. You are therefore responsible for maintaining appropriate software, hardware and associated processes to receive, access, review, print and save copies of such documents.
This consent applies to all types of communication that is permitted by law to occur electronically. Therefore, paper (hard copy) documents may not be provided to you, unless we are obliged to by law. You must regularly check advised electronic communication mediums for communication from us. If your details change, you must promptly notify us.
If you wish to withdraw your consent to electronic communication, please notify us on 1300 936 668 or by emailing us at email@example.com.
Rate Money Pty Ltd ABN 92 632 468 056 | Australian Credit Licence 519912 | Feedback and Complaints