1. Personal Information and its importance
Personal information is information or an opinion about you from which your identity is apparent. Protecting your privacy is fundamental to the way we do business. This document sets out the way we will collect, store, use and share your personal information. It will also provide you with information about what you can do to access the personal information we have about you, the way you can have it corrected, if necessary, and what steps you can take to complain about any action taken by us in relation to the information.
The legal framework under which we deal with your personal information is set out in the Privacy Act, the 13 Australian Privacy Principles (contained in Schedule 1 to the Privacy Act) and the Credit Reporting (Privacy) Code made under the Privacy Act. These rules apply to information about individuals, not corporations.
2. Why we collect personal information
We collect personal information so that we can:-
- assess your application and refer it to a lender most likely to be able to assist you; accept and process your application for a loan in accordance with the requirements of law;
- where necessary, assess your personal and/or commercial creditworthiness;
- where necessary, make a determination about the risk of you defaulting on your obligations to us;
- where necessary, undertake, where appropriate, risk assessment and management involving securitisation, credit scoring, portfolio analysis, reporting and fraud prevention and claim recovery;
- refer your application to the most appropriate lender given your particular circumstances;
- manage your dealings with us;
- assist in the resolution of any dispute you have with us;
- provide you with information about other products or services we currently offer, or may offer in the future or are offered by our commercial partners;
- in certain circumstances (as disclosed in paragraph 6(l)), sell your personal information, or to provide that information to others who might offer services to you, and
- satisfy an obligation we may have under the law to collect personal information or make assessments.
- for service improvement and resolving any discrepancies in the provisions of the services
3. If you do not provide us with your personal information
If you do not provide us with your personal information or give us consent to collect it from others, we will be unable to, amongst other things, process your application and make any assessment that may be required to by law. We will therefore not be able to satisfy our internal and external obligations and will not be able to refer you to an appropriate lender.
4. Where we get personal information
We obtain personal information from any of the following sources:
- you in the process of your loan application or in other communication with you;
- publicly available information such as telephone directories, information on websites or from public databases such as the electoral roll;
- other credit providers from whom we request information;
- credit reporting bodies;
- persons or entities you have authorised to provide us with information (for example bank statement suppliers);
- your use of our website with the aid of “cookies”, and
- marketing companies from which we may acquire information in order that we may offer services to you.
Where we obtain personal information which we are either required to collect, or authorised to collect by law, we will advise you of that fact.
5. Sensitive information
“Sensitive information” is information about your racial or ethnic origin, political opinions, membership of a political association, religious beliefs or affiliations, philosophical beliefs, membership of a professional or trade association or trade union, sexual preferences or practices, criminal record, health or genetic information.
We will not collect, use or disclose any sensitive information about you unless we have your specific consent, and it is necessary to undertake one of the functions referred to above.
6. Exchange of personal information
We may disclose your personal information to:-
- such credit reporting bodies, rating agencies, and any business which provide information about the creditworthiness of persons with whom we have a commercial arrangement (more detail about this appears below);
- credit providers and other organisations that are involved in managing or administering your finance such as third party suppliers, printing and postal services and call centres;
- personal and/or business referees nominated by you, including your employer (in relation to your employment status and income);
- our professional advisers, contractors and other service providers (eg. IT consultants);
- your legal and financial advisers (if any) if permitted by you;
- Centrelink, Australian Taxation Office or other Government departments, agencies or bodies, to whom we may be required by law to disclose information supplied by you to us such as under the Anti-Money Laundering and Counterterrorism Financing Act 2006;
- our financiers;
- our contractors, agents and service providers (including debt collectors) in order that we may deal with you more efficiently or collect monies owing to us;
- our ASIC and OAIC approved external dispute resolution service;
- payment system operators (if any);
- our insurers, insurance underwriters/providers in relation to our insurance policies;
- entities (who may or may not pay a fee to us):
- who may acquire (or who may be interested in acquiring) any interest in the business we conduct;
- who are either credit licensees (that is credit providers or credit assistance providers) or lead providers, to whom we may provide your personal information for a fee. The credit licensees or lead providers may either provide a service to you themselves or on-sell your personal information to others on the same basis as your personal information is sold to them, or
- who are credit reporting bodies to whom we may provide your personal information in circumstances where the credit reporting body does not have a credit file on you.
- search agents and search system providers in relation to your residential information and other information in order to contact you, and
- real estate agents and others to enable us to be advised of your current residential and other information held by them;
Prior to disclosing any of your personal information to another person or organisation, we will take all reasonable steps to satisfy ourselves that:
- the person or organisation has a commitment to protecting your personal information at least equal to our commitment, or
- you have consented to us making the disclosure.
7. Overseas disclosure
We are a member of a group of companies which operates a worldwide financial services network. As a result, the computer systems used operate between countries. We do not intend to disclose your personal information to any person who is not authorised by this policy or who is not an employee of Monevo or one of its associated or related companies. However, backups are made to servers under a “cloud storage” arrangement with servers through Armor. The information will not be available to be accessed by any person associated with the cloud storage.
8. Credit reporting
The Privacy Act allows credit providers to disclose some information to credit reporting bodies. The information which is disclosed depends on the level at which we participate in the credit reporting system. The credit reporting bodies are also bound by the Privacy Act and are restricted in the uses to which that information may be put. Each of the credit reporting bodies must have a policy, similar to this one, to explain how it uses your information.
9. Direct marketing
From time to time we may use your personal information to provide you with current information about finance, offers you may find of interest, changes to our organisation, or new products or services being offered by us or any company with whom we are associated.
If you do not wish to receive marketing information, you may at any time decline to receive such information by emailing us at
If the direct marketing is by email you may also use the unsubscribe function. If the direct marketing is by text you may also use the unsubscribe function.
By using the unsubscribe function in a direct marketing communication you will only unsubscribe from direct marketing from that entity/brand who sent you the communication and method of delivery. Please let us know if you would like to unsubscribe from all direct marketing from Monevo and all related entities. 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.
10. Access to and correction of information held
The Privacy Act provides that, subject to some exceptions, you have a right to know what information we hold about you, including information we have obtained from credit reporting bodies. If you wish to access the personal information we hold about you, including information we have obtained from a credit reporting body, you should make contact with us in any of the following ways:
It may be necessary for us to verify your identity before we can provide any information.
We will usually be able to provide this information to you within 30 days of the request. Should we require longer, we will write to you advising you a reason and seeking additional time. We may require you to pay our reasonable costs of providing this information to you. There are restrictions in relation to those costs contained in the law.
If possible, we will provide you with the personal information in the form you request. However, in some circumstances, it may be necessary for you to access that information in a method determined by us, but we will always make it as easy as possible for you to access that information.
There may be occasions where we cannot provide you with that information. In such a case we will write to you and give you our reasons.
You can request that any personal information we hold be corrected if it is inaccurate, incomplete or out of date. If you wish to make such a request you should contact us by any of the methods set out above.
If your request relates to information that we have received from a credit reporting body, we will contact the credit reporting body and advise them of your request.
If we agree with you that your information is inaccurate, incomplete or out of date we will make the appropriate changes and will write to you and tell you the changes we have made within seven days of making that change.
If we do not agree that the information is inaccurate, incomplete or out of date, we will write to you giving you the reasons why we have formed the opinion and tell you what steps you can take as a result of our refusal to change the information.
- Updating your personal information
It is important to us that the personal information we hold about you is accurate and up to date. During the course of our relationship with you we may ask you to inform us if any of your personal information has changed.
If you wish to make any changes to your personal information, you may contact us. We will generally rely on you to ensure the information we hold about you is accurate or complete.
11. Government identifiers
If we collect Government identifiers, such as your tax file number, we will not use or disclose this information other than is required by law. We will never use a government identifier in order to identify you.
Should you wish, it is possible for you to deal with us anonymously. Where it is lawful and practicable to do so, we will offer you the opportunity of doing business without providing personal information where you, for example, simply make a general inquiry about interest rates or current promotional offers. However, in order for us to provide you with a service, it is necessary for us to identify you. If you elect to remain anonymous, we will not be able to do business with you.
You are entitled to complain if you believe we have not dealt with your personal information in accordance with the provisions of the Privacy Act (including the 13 Australian Privacy Principles) or any code under the Privacy Act (including the Credit Reporting (Privacy) Code).
If you wish to make a complaint, you should first contact us telling us what the complaint is and we will do our best to resolve the complaint with you.
If we believe that we cannot resolve the complaint within 21 days, we will write to you telling you why and seeking further time.
If you are not satisfied with the resolution of the complaint, you have a right to refer the complaint to our external dispute resolution service, the Australian Financial Complaints Authority Ltd (“AFCA”) or to the office of the Australian Information Commissioner (“OAIC”).
The contact details of those two bodies are as follows:-
Australian Financial Complaints Authority
Phone 1800 931 678 (9:00am to 5:00pm Melbourne time)
Interpreter Service 131 450
Fax (03) 9613 6399
Mail GPO Box 3, Melbourne VIC 3001
Complaint page: https://www.afca.org.au/make-a-complaint/complain/
Office of the Australian Information Commissioner
Phone 1300 363 992 (9:00am to 5:00pm Sydney time)
Fax (02) 9284 9666
Mail GPO Box 5218, Sydney NSW 2001
Complaint form: https://forms.business.gov.au/aba/oaic/privacy-complaint-/
We have a written policy (“Dispute Resolution Policy”) in place under which we deal with any complaint made under the provisions of the National Consumer Credit Protection Act. We are required to have that policy as part of our Australian Credit Licence. We can provide you with a copy of that policy on request.
We will manage your complaint, so far as we are able, under the Dispute Resolution Policy. There will, of course, need to be some changes as a result of the type of complaint being made.
We are constantly reviewing all of our policies and attempt to keep up to date with market expectations. Technology is constantly changing, as is the law and market place practices.