BANK FEED TERMS OF USE

AUTOMATED BANK FEEDS

Swift Cash Pty Ltd (SwiftCash, we or us) partners with illion Open Data Solutions Pty Ltd (Bank Feed Provider) to provide bank data feeds to our secure platform. By utilising automated bank feeds SwiftCash is able to quickly and securely categorise bank transaction data to aid us in the processing of your loan application. The document outlines your rights and obligations in using automated bank feeds with SwiftCash. By sharing your internet banking login details during the loan application process you are agreeing to these terms.

To help us manage your loan application as swiftly as possible we require read-only access to your transaction history, account balance and account names. Once you share your internet banking details during our loan application process you are authorising SwiftCash with read-only access. Our Bank Feed Provider will then collect up to 12 months of transaction history data from the date you applied for the loan. At no point will SwiftCash have access to, or is able to store, your internet banking login details. 

We may also use this data for statistical analysis, process and product improvement in line with our Credit Reporting and Privacy Policy.

ePayments CODE

The ePayments Code (the Code) is a voluntary code of practice. Banks, Credit unions, building societies and other providers of electronic payment facilities can choose to subscribe to this code. To check if your bank subscribes to the code follow the link below:

If the provider of your bank account is a subscriber to the ePayments Code, you have rights and obligations in respect of sharing your internet banking login details. Using our Bank Feed Provider’s service may affect your rights under the ePayment Code. You may be liable for any unauthorised access or otherwise fraudulent activity if your bank account provider does not endorse us accessing your internet banking account. Please check with your bank account provider to clarify any concerns you have.

By sharing your internet banking login details during the loan application process you are agreeing:

  1. the information provided to us is true, accurate and complete;
  2. you will not misrepresent yourself or bank account information;
  3. you are authorised to access any bank account for which you supply login details;
  4. to us and the Bank Feed Provider to access and collect information from your provided internet bank accounts;
  5. the use of such services does not breach any of your obligations in relation to your internet bank account;
  6. to the Bank Provider’s (illion Open Data Solutions) Terms of Service and Privacy Policy; and
  7. the use of services through our Bank Feed Provider is at your own risk and SwiftCash along with the Bank Feed Provider will not be responsible for any loss suffered by you as a result of providing your internet banking details other than rights afforded to you under law.

SwiftCash will store information about your bank account for as long as is reasonably necessary to carry on business with you. SwiftCash may keep your bank account information beyond this limit but only when de-identified and for the purposes of statistical analysis, process and product improvement.

Main Information

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