As a borrower, responsible lending laws are designed to protect you from borrowing money you cannot reasonably afford to repay. SwiftCash adheres to responsible lending practices in a commitment to operate in an ethical and responsible manner.
We are regulated by the Australian Securities and Investment Commission (ASIC), an independent government body responsible for enforcing the law. We comply with the rules set out in the National Consumer Credit Protection Act 2009 (Cth).
We assess each customer individually to ensure we only lend to those who are able to meet repayments. We adhere to our licence conditions which dictate how much we can lend and at what rates. Some of the checks that we complete include:
- We will ask you questions relating to your financial situation, including asking questions about your income, expenses and employment status to help us determine your ability to afford the loan;
- We take steps to verify your financial situation, including reviewing your bank transaction history and other information disclosed during your application; and
- We ask you about your requirements and objectives, including asking you about the purpose of your loan.
SwiftCash is open and transparent about our fees and repayments. A full breakdown of all your fees and repayments will be provided to you before you confirm your loan. Please review our Interest Rates and Fees page for more information.
Our responsible lending policy is based on three key pillars of assessment to ensure credit is being provided responsibly:
- Determining the suitability of your loan in line with our lending criteria and credit policy;
- Determining your capacity to repay a credit contract or loan without imposing financial hardship; and
- Determining if the loan will be suitable to the customer.
Capital Credit Solutions Pty Ltd trading as SwiftCash, who hold an Australian Credit Licence (ACL 517185) issued by ASIC and means that we must comply with the National Consumer Credit Protection Act 2009 (Cth), including making sure we lend responsibly.
How we support customers facing financial difficulty
Financial difficulty can arise from different life events such as change in income, illness, a relationship breakdown, reduction in your cash flow or emergency events. We encourage customers facing financial hardship to talk to us. We will treat every case individually.
The information on the SwiftCash website is general in nature and does not take into account your personal objectives, financial situation or needs. Terms, conditions, fees and charges apply, and are subject to change. Applications are subject to credit approval criteria. Redraws are not available.