Privacy Policy

General

“Personal Loans on Spot” is trading name of Personal Loans on spot Pty Ltd (ABN: 51 169 672 342 & ASIC Credit license no is 464528. The Terms “We” “Us” in this policy document refers to Personal Loans on Spot Pty Ltd trading as Personal Loans on Spot.

Personal Loans on Spot will do all necessary actions to protect your personal information in accordance with the Privacy Act 1988. We only collect personal information in order to provide you with the services you request as well as for other products and services offered by us.

Privacy policy of Personal Loans on spot Pty Ltd sets out how we collect, hold, use and disclose your personal and credit information. That policy also sets out how you can access or seek to correct your information, and complain about our privacy practices

Identity Verification

I understand that my details including my name, address and date of birth may be reported to credit reporting agency for purpose of my identity verification and I fully authorize Personal Loans on Spot to do it. I also understand that if no match or partial match is found, then Personal Loans on Spot will ask further documentation so that my identity can be verified.
Purpose of collecting personal information

Personal Loans On Spot will collect your personal information for purposes which are reasonably necessary for our business functions or activities. These purposes include:

  • To identify the customer so that their loan application can be processed.
  • To identify customer needs and for evaluation of their loan application.
  • To resolve customer complaints or to manage any legal action
  • To solve any customer query regarding any services offered by us or our associates
  • To perform routine business operations from time to time such as risk management, staff training as to handing customer queries and customer complaints, collection of outstanding debts etc.
  • To provide information on our products and services as well as external services for whom we act as agent (unless the customer has opted out)
  • To enter into payment arrangement with you for payment of your debts.
  • To comply with our legal obligations under various laws such as National Consumer Credit Protection Act 2009, the Privacy Act, the Anti-Money Laundering and Counter-Terrorism Financing Act 2006
  • To develop and implement measures to detect or prevent fraud and credit loss.

In addition, as required by Part IIIA of the Privacy Act, we may obtain your consent to collect, use and disclose information about you.
Please note that If you do not provide your personal information, we may be unable to process your loan application. In case personal information is not provided, then your loan application may be delayed or declined.

What personal information we collect

Personal information collected by us comprises the information in the loan application form. It comprises full name, address, date of birth, gender, account details, contact details (including telephone and e-mail) and financial information such as income and expenses details. Please refer to our online loan application on our website for details.
We also collect 90 days Bank statement, your employers name and contact details, length of employment etc. Please note that loan application form is regularity updated and we may ask for any further information required to process your loan application.

Disclosure of your personal information

Personal Loans on Spot is bound by Privacy Act and we will never disclose your personal information to any organization – Government agencies, private companies or anyone else unless one of the following applies:

  • Required by Law- When we are required by law to disclose your personal information.
  • When you have waived duty of confidentiality by your actions.
  • When it is reasonably expected that your personal information of that kind is usually passed to those individuals, bodies or agencies.

Please note that Personal Loans on Spot may disclose your personal information to:

  • Related product and service providers and external companies for whom we act as agent so that they may provide you with their product or service.(Unless you ask us not to pass on your information)
  • Any other person acting on your behalf, including your attorney/guardian/financial adviser/solicitor/ accountant/trustee/executor or administrator. (With your consent or required by law)
  • Your employer(s), referee(s), guarantor(s) as mentioned in your loan application
  • As required by law – Government agencies, regulatory bodies or courts or anyone authorized to collect your personal information.
  • Other organization in the payments system (including payment organizations and merchants) and other financial institutions (such as banks).
  • Credit reporting and debt collection agencies.
  • Other financial institutions if you seek credit from them in order to assess your loan application.
  • Express consent – disclosure to any other parties where you have given express consent to it.
  • Any other organizations or individuals specified elsewhere in this policy.

We are bound by the Privacy Act 1988 (“Act”), the Australian Privacy Principles (“APP”), the Credit Reporting Privacy Code (“CR Code”) as well as other applicable laws and codes

Identity Verification and Credit checks

Please note that Personal Loans on Spot is required by law to conduct identity verification. We will take all necessary steps to verify your identity. We will ask for required identification documents to identify you. Also, we will undertake identity verification and credit checks under legislation such as the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (identity verification) and the National Consumer Credit Protection Act 2009 (identity verification and credit checks).

Your personal details in Online loan application form will be used to verify your details and may be used to conduct a credit check with a credit reporting agency or any other credit provider. At the time of your application, we will specifically seek your consent for these verifications and checks to be conducted.

Please note that we require your 90 days bank statement in order to process your loan application. Where you have given us consent and provided your login and account information, we may access and collect your financial records from your financial institutions on your behalf via third party provider. Please note that in event of default of payment, we may disclose your default to credit reporting agency. Credit reporting agencies include Veda Advantage Information services and solutions Limited (www.veda.com.au) Ph: 1300 850 211 , Dun and Bradstreet (Australia) Pty ltd (www.dnb.com.au) Ph: 1300 734 806 and Experian Australia Credit Services Pty Ltd
Phone: 1300 784 134(www.experian.om.au). Their privacy policy can be found on their website. Please note that other Credit reporting agencies may be added to the list from time to time. By applying loan with us, you are expressly authorizing us to disclose your personal information to any additional credit reporting agency also.

Links to other websites

Please note that our websites may contain links to Other Companies websites. These links are provided so that you can buy products/services from those companies (if interested). Customers should click on these links only if they are interested. We would advise you to read privacy policy of those Companies before submitting any information to them.

Online Application Form & Email

Your filled Online Application form & all communication with us (emails) will be stored and preserved. This will be stored in a confidential data base. Your email address will be used to communicate with you for any product/service which we are offering. Personal Loans on Spot will not send you unsolicited emails and we will not disclose your email address to any third party (unless authorized by you or required by law). If you receive any marketing email, then you will have option to unsubscribe. You may receive our newsletter, but you will have option to unsubscribe if you are not interested.

Security of Information

Personal Loans on Spot will take all reasonable care to preserve the security of personal information collected by us in accordance with our website Terms and Conditions and this Privacy Policy.
Since technology is updating regularly, and no data transmission is 100% secure, we can not guarantee the security of personal information. But we ensure that we will take all reasonable steps to protect your personal information in our customer database.

Contact us

You are most welcome to contact us If you have any questions or you wish to make a complaint or request access to any information which we have collected about you, please write to our Privacy Officer at:

The Privacy Officer
Personal Loans on spot Pty Ltd
PO Box 41 Blacktown NSW 2148
Or email to us at complaint@personalloansonspot.com.au
Our Privacy Officer will contact you within reasonable time once your communication is received.

Authority to disclose personal information

I understand and accept that Personal Loans on Spot have general duty of confidentiality to protect customers’ personal information. However, they may have to disclose this personal information as per this Privacy policy. I authorize Personal Loans On Spot to disclose my personal information on an ongoing basis (including my credit standing, credit infringements, current loans, loan history) to:

  • External service providers for whom Personal Loans on Spot act as agent (so that they may provide you with the product or service).
  • Internal or External auditors we appoint from time to time.
  • Any third party acting on my behalf, including your attorney, solicitor, executor, accountant, administrator, trustee, guardian or attorney.
  • My employers, guarantors, referees
  • When required by law – then disclosure to government agencies, regulatory bodies, etc
  • Other participants in the payments system – like merchants, banks, direct debit company, and company involved in extracting my 90 day bank statements.
  • Insurance Companies as required
  • Debt collection agencies so that they can collect the debt
  • Credit reporting agencies.
  • Express consent – Where I have expressly consented to disclosure of my personal information.

Personal Loans on Spot may also provide my personal information to another credit provider:

  • To assess my loan application & credit worthiness
  • To disclose a credit provider of any default

I authorize Personal Loans on spot to confirm my employment details (my salary, employment details etc) with my employer.

Online forms, storage and delivery of information

I understand that Personal Loan On Spot may use third party platforms to deliver information. I understand that sharing information with these third parties is necessary for assessment of my loan application. These third parties can be Credit agencies, Data storage companies etc. I understand and accept that my information will be shared with these companies and I give my express consent to it.

I understand that Personal Loans on spot may store information collected from me at secure third party internet based hosting locations in Australia or overseas. These third party providers use systems and procedures as required under Australian Privacy principles.

I understand that Personal Loans on spot websites may contain links to Third party websites. Whilst such links are provided so that extra service may be offered to me, I am fully aware that these third parties have different privacy policy and they will handle my personal information in different manner. I understand that I should not hold Personal Loans on spot accountable for these companies handling of my personal information.

We are bound by the Privacy Act 1988 (“Act”), the Australian Privacy Principles (“APP”), the Credit Reporting Privacy Code (“CR Code”) as well as other applicable laws and codes

Electronic Communications Consent (ECC)

Electronic authorization

You consent to us sending you notice and other documents in connection with your dealings with us Via Electronic Communication.
You understand that upon the giving this consent:

– All notices, statutory disclosures (including the Information Statement and Credit Guide), copy of contract, statements of account, or other documents will be send via Electronic Communication or you will have access to these documents in member log in area of our website. Also you must regularly check your email for any notices or documents

– We will not post you any documents unless required by law.

– We would require you to regularly check your nominated e-mail address for notices.

When you click ‘I agree’ it will create a binding legal obligation where indicated.

Please note that you may withdraw your consent to the giving of notices and other documents electronically at any time and you must provide us with any alternative means of communication.

I understand and acknowledge that if I give this consent to electronic communications:

  • I will not receive any paper based documents.
  • I will receive all documents/communication via electronic communication
  • I will have to check regularly electronic communications (Email/Member Log in Area) for documents
  • My consent to receiving the documents/ communication by electronic communication may be withdrawn at any time.

I authorize Personal Loans On spot to provide all information to me through electronic communication in accordance with the Electronic Transactions Act 1999 and the National Consumer Credit Protection Act 2009, including but not limited to:

  • Credit contract documents or variations thereof.
  • Any notice or disclosure documents such as a Credit Guide or my assessment etc.
  • Financial services disclosures such as a Financial Services Guide;
  • Any other notices or documents required by any law; and
  • Any notice/document concerning my loans application from Personal Loans On spot.

I also authorize Personal Loans On spot to act on instructions I send to them electronically, including but not limited to:

  • email to the email address provided by Personal Loans On spot on its websites; or
  • any other method of electronic communication permitted by law.

Accessing or correcting personal information

I understand that I may access my personal information at any time by contacting Personal Loans On spot Privacy Officer at: privacy@personalloansonspot.com.au. I will get access in accordance with the Privacy Act 1988 and a reasonable fee may be charged, depending on case to case. Following receipt of your request, we will let you know the applicable fees. Customer may request for change of my information If any of my information is inaccurate or if the information requires an update.

Promotion of other products or services

I authorize and acknowledge that Personal Loans On spot may use my personal information to help promote its products or services or those of its related companies and alliance partners. I authorize Personal Loans On spot to disclose my personal information to its related companies or alliance partners in connection with this purpose. I give this express consent unless I withdraw my consent by contacting Personal Loans On spot Privacy Officer at: privacy@personalloansonspot.com.au.

Declaration and consent

I declare that I have read and understood above Privacy Policy of Personal Loans on Spot Pty Ltd.

I also declare that I consent to above policy and I give the authorization to Personal Loans on Spot as required (in above policy).

I acknowledge that Personal Loans On spot will rely on my personal information in considering my application for credit and if I provide any incorrect information in loan application, then my loan application may be declined.

This Privacy Policy may be reviewed from time to time. We reserve the right to change our policy at any time. Any revised version of this policy will be published on our website.

*Disclaimer:

Personal Loans On Spot accepts no responsibility for any loss, damage, claim or expense suffered by you as a consequence of your reliance on the information provided in this site.By consenting to give your bank account and/or online banking details to the secured link provided, you agree/allow a third party service provider (operating onshore) access to your account information.