This is the Privacy and Credit Reporting Policy of Capital Credit Solutions Pty Ltd trading as SwiftCash (ABN 99 633 339 205, ACL 517185), collectively SwiftCash, we, us or our). This policy documents how we collect, use and disclose personal information (including credit-related information) we hold about you.
The protection of your personal information is extremely important to us and we are committed to managing your personal information in an open and transparent way. Some personal information we collect is required under law to meet our legal obligations and where we can we limit the collection of personal data to what is absolutely necessary for us to offer our products and services.
Any personal information we collect will only be used for the purposes disclosed in this document or where it is allowed under the law. SwiftCash will diligently abide by the Australian Privacy Principles, The Privacy Act 1988 (Cth), the Privacy (Credit Reporting) Code 2014 and any other relevant law when dealing with personal information.
PERSONAL INFORMATION AND ITS IMPORTANCE
Personal information is information or an opinion about you from which your identity is reasonably apparent. Protecting your privacy is fundamental to the way we do business. The information we hold about you may also include credit-related information.
Credit related information includes your identity as well as the term and amount of the credit provided to you. It can also include information about your repayment history, defaults, court proceedings, financial hardship, debt arrangements and credit enquiries.
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 hold about you;
- have your information corrected; and
- 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 Australian Privacy Principles, the Privacy Act 1988 (Cth) and the Privacy (Credit Reporting) Code.
WHY WE COLLECT PERSONAL INFORMATION
SwiftCash collects your personal information so we can:
- accept and process your application for a loan in accordance with our licensing and legal requirements;
- understand you requirements, objectives and needs to provide you with an appropriate product or service;
- assess your creditworthiness and the risk of you defaulting on your obligations to us;
- manage your account and our relationship with you, including debt collection;
- undertake, where appropriate, risk assessment and management utilising credit scores, portfolio analysis, reporting and fraud prevention and claim recovery;
- provide you with a loan if your application is approved and determine on what terms we will do so;
- assist in the resolution of any dispute you have with us and report to regulatory authorities and dispute resolution bodies;
- improve our products and services offered through research and statistical analysis which may include matching your information against information held by third parties (de-identified data will be utilised when possible);
- provide you with information about other products or services we currently offer or may offer in the future with your consent; and
- satisfy any obligation we may have under the law to collect personal information or make assessments.
Any sensitive information we hold about you will not be used for direct marketing purposes unless we are given explicit consent to do so.
IF YOU DO NOT PROVIDE US WITH YOUR PERSONAL INFORMATION
If you do not provide us with your personal information or do not provide us with consent to collect it from others, we will be unable to process your application and make the assessment that we are required to by law. We will therefore not be able to satisfy our internal and external obligations and will not be able to proceed with your loan.
WHERE WE GET PERSONAL INFORMATION
We will generally collect personal information directly from you but there may be circumstances where we collect your personal information from other third parties. These include:
- directly from you via our loan application process or through any other communications;
- credit reporting bodies;
- your bank account provider(s);
- publicly available information sources;
- other credit providers from whom we request information;
- our service providers;
- persons or entities you have authorised to provide us with information; and
- marketing companies in order to offer services to you.
We will advise you of any personal information we obtain which we are either required to collect, or permitted to collect by law, such as under the:
- Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth); and
- National Consumer Credit Protection Act 2009 (Cth).
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.
EXCHANGE OF PERSONAL INFORMATION
We may disclose your personal information to:
- credit reporting bodies, ratings agencies and any business which provide information about the credit worthiness of persons with whom we have a commercial arrangement;
- other credit providers;
- personal referees nominated by you, including your employer (in relation to your employment status and income);
- our professional advisers, contractors and other service providers;
- your legal and financial advisers 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.
- our financiers;
- contractors, agents and service providers to aid in efficient dealing or collecting of monies owed to us;
- our ASIC and OAIC approved external dispute resolution service;
- payment system operators;
- our insurers, insurance underwriters/providers in relation to our insurance policies.
- Entities who may purchase (or who may be interested in purchasing) any interest in the obligations you may owe us under the credit contract, and entities (either credit licensees (credit providers or credit assistance providers) alternate service providers lead providers, or third parties) to whom we may sell your personal information for a fee.
- The information that the Lender may exchange with other credit providers and alternate service providers (such as credit file repair services, budgeting services and rental services) includes my application information held by the Lender, my identification details, what type of loans I have, how much I have borrowed, whether or not I have met my loan payment obligations and if I have committed a serious credit infringement (for example, fraud). The Lender may exchange and sell my customer data to other credit providers and alternate service providers who may use the customer data for any of the purposes for which the Lender can use it.
- The Lender may use and exchange my customer data with third parties. Where permitted by law or for any of the purposes mentioned in clause.
- The Lender can exchange my customer data with third parties including:
- service providers, for example credit providers, lenders, credit file repair services, budgeting services and rental services;
- the provider of the market for the sale or distribution of my customer data;
- those to whom the Lender or any of the third parties outsources certain functions, for example direct marketing, statement production, debt recovery and information technology support;
- government and law enforcement agencies or regulators;
- credit reporting bodies and credit providers;
- 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.
We do not intend to disclose your personal information overseas and cannot foresee any circumstance in which the need to do so might arise. We do acknowledge, however, that as part of our backup system, some of your information might be stored overseas (for example if we use “cloud storage”), but the information will not be available to be accessed by any person overseas.
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 used. Each of the credit reporting bodies must have a policy, similar to this one, to explain how it uses your information.
The information we may disclose to a credit reporting body is the following:
- whether we provide you with a loan;
- the type of loan provided;
- the amount of the loan provided;
- the date the loan was supplied;
- the date the loan terminated;
- the terms of the loan;
- whether payments are made on the loan;
- if you default in making a payment on the loan;
- whether you were late in making payments and whether you make those payments up; and
- if you commit a serious credit infringement (fraudulent activity or deliberately avoiding your obligations under the loan terms).
SwiftCash deals with one credit reporting body detailed below.
Name: illion Australia
Phone: 132 333
Address: PO Box 7405 St Kilda Rd Melbourne Vic 3004
Accessing your personal and credit-related information
The Privacy Act 1988 (Cth) provides, subject to exceptions, that 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 explaining why and seek additional time to fulfil your request. We may pass on any reasonable costs in retrieving this information for you.
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 explain why we were not able to retrieve your information.
The law requires that we advise you of any ‘notifiable matters’ in relation to how we use your credit information.
Correction of your personal and credit-related information
You can request that any personal information we hold be corrected if it is inaccurate, incomplete or out of date. Please reach out directly if you wish to make such a request by any of the methods given above.
If your request relates to information that we have sourced from a credit reporting body, we will reach out to 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 7 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 explaining why we have formed the opinion and tell you what steps you can take as a result.
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 30 days, we will write to you explaining why and seek additional 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 (“AFCA”) or to the Office of the Australian Information Commissioner (“OAIC”). Contact details can be found below.
Australian Financial Complaints Authority
Phone: 1800 931 678 (9:00am to 5:00pm Melbourne time)
Fax: 03 9613 6399
Address: Australian Financial Complaints Authority, GPO Box 3, Melbourne, 3001
Complaint page: http://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
Address: GPO Box 5218, Sydney NSW 2001
Complaint form: https://www.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 2009 (NCCP). 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.
CHANGES TO OUR PRIVACY AND CREDIT REPORTING POLICY
Our Privacy and Credit Reporting Policy may change from time to time. All updated versions of this policy will be published on our website and effective from the date of posting. All previous versions of this policy will be made available upon request.
This policy was last updated on 19th September 2023.