PRIVACY POLICY - STATEMENT AND CONSENT

In this Privacy Statement and Consent, “Payment Assist”, “we” or “us” means Payment Assist Pty Ltd (ACN 619 974 908).

This statement must be read by each individual applying for credit from or through Payment Assist and by each individual who provides personal information to Payment Assist in connection to such an application (for example, a guarantor).

About this Statement

At Payment Assist the privacy of your personal information is important. Payment Assist is bound by the Australian Privacy Principles (APP’s) contained in the Privacy Act 1988 (Cth) (“the Act”). Pursuant to the Act we are required to have a privacy policy. This Statement forms part of the Payment Assist Privacy Policy (“the Privacy Policy”).

This statement explains how Payment Assist collects, uses and discloses personal information. Personal information is information about and which identifies individuals, including, for example, an individual who is an applicant and an individual who may simply be referred to in the application (such as a referee or guarantor). It includes information obtained from any source and, in respect of individual loan applicants and guarantors (if any), includes anything about credit worthiness, standing, history and capacity which, under or in accordance with Act, may lawfully be exchanged. The kinds of personal information held generally include: name, personal details, date of birth, tax file number, contact details and account details. Depending on your relationship with Payment Assist we may also hold credit information concerning your financial details, including your assets and liabilities, information about your employment details, employment circumstances, family commitments and social security eligibility, insurance cover, credit history, default information, investment preferences and aversion or tolerance to risk.

We will not use or disclose your personal information otherwise than as set out in this statement for a purpose you would reasonably expect, a purpose required or authorised by law, or a purpose otherwise disclosed to, or authorised by, you.

How we collect your personal information

We will only collect information by lawful and fair means and not in an unreasonably intrusive way. This information is generally obtained directly from you. There may be instances when personal information is obtained from a third party (eg credit reporting agency or an insurer of goods that you provide for security purposes).

We generally do not collect sensitive information from you (eg: information concerning race, religion, political opinions, criminal record, etc) unless this is necessary to provide you with a specific product or service. If it is necessary, by providing it you consent to provide the sensitive information for us to use and disclose in accordance with our Privacy Policy.

Our websites use cookies which allow us to identify your browser while you are using our site. Cookies do not identify you; they simply allow us to track usage patterns so that we can measure the level of interest in various areas of our site. All browsers allow you to be notified when you receive a cookie and elect to either accept it or not. Your Internet service provider should be able to assist you to set your preferences.

How we hold or store information

We will take reasonable steps to protect personal information we hold about you against loss and against access, use, modification or disclosure that is unauthorised. Only authorised users can access your personal information, and access is only for approved purposes.

Your personal information may be stored in hard copy documents, as electronic data, or in Payment Assist’s software or systems. We maintain physical security over our paper and electronic data stores and premises. We also maintain computer and network security; for example, we use firewalls (security measures for the Internet) and other security systems such as user identifiers and passwords to control access to computer systems.

Subject to the reasons for collection of your personal information, hard copy documents containing personal information will be stored for various periods. Electronic data of personal information may be stored indefinitely and, if appropriate, will be removed at your request.

CORRECTION OF INFORMATION

We endeavour to ensure that, at all times the personal information we hold is up to date and accurate. If the information is incorrect, you may request the correction of your information. If Payment Assist is satisfied that the relevant information is incorrect, it will make the requested correction. Should you request any personal information to be deleted/destroyed, we shall delete it if we do not need the information to provide our services to you.

Purposes for which we collect and use personal information

a. You agree that personal information about you, which may at any time be provided to us in connection with a facility for which application is made, may be held and used by us to assess and process the application, toestablish, provide and administer the facility, execute your instructions and to manage our relationship with you.

b. You agree that, in assessing an application for consumer credit or commercial credit or, if relevant, in assessing whether to accept you as a guarantor, we may seek and obtain consumer credit information and commercial credit information about you from a credit reporting agency, or personal information from another financial institution or credit provider and may give personal information about you to another financial institution or credit provider.

c. You also agree that we may hold and use personal information about you, which may at any time be provided to us in connection with a facility forwhich you make application to us, for the purpose (as relevant) of: considering any other application you may make to us;

  • complying with legislative and regulatory requirements;
  • performing administrative functions, including accounting, riskmanagement, record keeping, archiving, systems development, credit scoring and staff training;
  • providing banking and other financial services, such as financial planning and insurance;
  • managing our rights and obligations in relation to external paymentsystems;
  • enabling PAYMENT ASSIST to develop and identify products and services that may interest you; and
  • (unless you ask us not to) enabling PAYMENT ASSIST to provide you with information about other products and services.

d. If the facility for which your application is made is an “account”, as defined in the Financial Transaction Reports Act 1986 or Anti-Money Laundering and Counter-Terrorism Financial Act 2006, the collection by us of some information to verify your identity and address is required by that Act. Otherwise, the collection of information about you is not required by law, but without it, we may not be able to provide you with credit.

DISCLOSURE OF PERSONAL INFORMATION

You agree that we may collect and use personal and credit information about you from, and disclose it to, the following, as appropriate, even if the disclosure is to an organisation overseas which is not subject to privacy obligations equivalent to those which apply to us:

  • credit reporting agencies and debt collecting agencies for credit worthiness, standing, capacity and history;
  • other financial institutions and credit providers
  • our agents, contractors and external advisers whom we engage from time to time to carry out, or advise on, our functions and activities;
  • your agents and contractors, including your finance broker, legal adviser, financial adviser, builder and settlement agent;
  • your executor, administrator, trustee, guardian or attorney;
  • your referees, including your employer;
  • regulatory bodies, government agencies, law enforcement bodies and courts;
  • any person who introduces you to us;
  • external payment systems operators;
  • your and our insurers or prospective insurers and their underwriters;
  • our guarantors and prospective guarantors;
  • an organisation proposing to fund the acquisition of or acquire, any interest in any obligation you may owe us (whether under a loan, guarantee or security), that organisation’s agents, persons involved in assessing the risks and funding of the acquisition and, after acquisition,the purchaser and any manager;
  • potential purchasers for the purpose of them conducting due diligence investigations in the event that we propose to sell our business. Any such disclosure will be made in confidence and it will be a condition of that disclosure that no personal information will be used or disclosed by them. In the event that a sale of our business is affected, we may transfer your personal information to the purchaser of the business. As a customer youwill be advised of any such transfer; and
  • any person to the extent necessary, in our view, we are required by law todo so or in order to carry out any instruction you give to us.

Consequences of not providing requested personal information

If you do not consent to providing certain pieces of personal information referred to in this statement we may not be able to provide you with a particular product or service.

Personal information about third parties

You represent that, if at any time you supply us with personal information about another person (for example, a referee or a person to whom a payment is to be directed), you are authorised to do so. You agree to inform that person who we are, that we will use and disclose their personal information for the purposes set out above, and that they gain access to that information.

PRIVACY COMPLAINTS

If you have a complaint or concern about the collection or use of your personal information, you should first contact the Manager, Payment Assist by email to admin@paymentassist.com.au