Money One Terms and Conditions

The information provided on this web site has been compiled for your convenience. Money One PTY LTD makes no warranties about the accuracy or completeness of any information contained on this web site.


Privacy Disclosure and Consent

Money1 is bound by the laws governing the consumer credit act. We follow the act to the letter on all requirements. Prior to commencing negotiation of finance on your behalf, our agreement, stating our terms and conditions must be agreed to by you, the applicant. (You will be prompted to acknowledge and accept the terms and conditions prior to completing the Apply Now section.)

Money1’s agreement lists the terms and conditions and takes privacy consent into consideration under the Privacy Act, including the collection of personal data in accordance with the Act.

Money One PTY LTD, including its directors, affiliates, officers and employees will not accept any liability for any loss, damage or other injury resulting from its use.

Links to other web sites are provided for your convenience and Money One PTY LTD is not responsible for the information contained on those web sites. The provision of a link to another web site does not constitute an endorsement or approval of that web site, or any products or services offered on that web site, by Money One PTY LTD. Money One PTY LTD will not accept any liability for the use of those links to connect to web sites that are not under our control.

Money One PTY LTD holds the copyright to this web site. You are not permitted to reproduce or alter this web site for any other purpose without the prior written consent of Money One PTY LTD.

Money One PTY LTD regards your privacy as important and will take all reasonable steps to ensure that if you have subscribed to receive marketing material, your e-mail address will remain confidential.

Money One PTY LTD reserves the right to make changes, modifications, additions, deletions and corrections to the web site, at any time and without notice.

Money One Pty Ltd ACN 141 798 638 This privacy statement is issued by Money One Pty Ltd A list of current participants in the Money One Pty Ltd is available on request from the Money One Privacy Officer (contact details below).

Money One collects personal information about you for the purposes you agree to in this Privacy Disclosure and Consent (Consent). Any personal information obtained from you is used only for the purposes listed in this Consent and is not disclosed to any other person except with your consent or as permitted, or required, by law. If you do not provide the information sought we may be unable to process the application by the client borrower for credit or the application by the prospective guarantor to be a guarantor, or we may be limited in the services we can provide you.

You have a right to access the personal information we hold about you by contacting the Money One Privacy Officer, 23 Buckhurst Street, South Melbourne VIC 3205. Our privacy policy is available at any of our offices and on our website money1.com.au

Client Borrower

By agreeing to Money One terms and conditions when making a application on the Money One website you as our client acknowledge and authorize the following.

  1. Money One will obtain from, and disclose to, any third party any information about you, that is reasonably necessary to advise you, or to assess, arrange, provide or administer your credit application.
  2. Money One will provide your personal information to a lender Money One approaches so the lender can assess your credit application.
  3. A lender approached by Money One may do any, or all, of the following to assess your credit application:
    • Notify a credit reporting agency you have applied for credit with them, the amount of the credit required and that they are your current credit provider
    • Provide your identification details to a credit reporting agency
    • Exchange credit information about you with a credit reporting agency and any credit provider named in any credit report from that agency, or any credit provider named in your application
    • Obtain information about your commercial activities or commercial credit worthiness, where relevant, from a credit reporting agency.

    Disclose information about your proposed loan and your credit information to a guarantor or prospective guarantor.

  4. Money One, as your agent may do any, or all, of the following on your behalf to access and disclose your credit information:
    • Provide your identification details to a credit reporting agency
    • Obtain your credit report from a credit reporting agency
    • Disclose information from the credit report and any relevant credit information to a lender Money

    One has approached Disclose information about the proposed loan and your credit information to the guarantor, or prospective guarantor.
    Money One may use your personal information to make future offers to you. If you do not wish to receive This service, you may contact Money One in writing c/- The Privacy Officer, 23 Buckhurst Street, South Melbourne VIC 3205

  5. Money One may disclose personal information, including credit information, about you to organisations that provide services to it, such as contractors, agents, computer systems consultants or providers document custodians and advisors so they can perform those services.
  6. Money One may use your email information to relay any promotional material and offers subject to Money One’s privacy policy.

 


 

Money One Pty Ltd

ABN: 441 417 986 38 | ACL: 395516 | 23 Buckhurst Street, South Melbourne VIC 3205

What is a credit guide?

A Credit Guide sets out important information about the services that we provide as a licensee broker, any fees and commission payable to us, our responsible lending obligations and our internal and external dispute resolution procedures and how you can access them. We are required to provide this Credit Guide to you as soon as practicable after it becomes apparent that we are
likely to provide credit assistance to you.

What is credit assistance?

We provide credit assistance when we:

  • Suggest or assist you to apply for a particular consumer lease with a particular lessor; or
  • Suggest you remain in a particular consumer lease with a particular lessor.

Who will provide me with credit assistance?

Your credit assistance will be provided by Pietro Decunto, Authorised Credit Representative ACR: 395516 of Money One Pty Ltd, ACL: 395516. Your Representative is located at 23 Buckhurst Street, South Melbourne VIC 3205 and is authorised by Money One Pty Ltd to engage in credit activities other than as a credit provider.

Which lessors do we utilise when providing credit assistance?

We source leasing products from a limited number of banks, lenders and other credit providers. At present, we can write leases with the following banks, lenders and other credit providers:

  • GE Finance
  • Liberty Financial Services
  • Macquarie Bank
  • Money3
  • Esanda
  • RACV Financial Services

How will I pay for the credit assistance provided?

The actual fee depends on the extent of work we need to undertake on your behalf. The actual amount will be confirmed in the credit proposal we present to you prior to your acceptance of the lease we have obtained. This fee will be payable at the time the funds are released by the credit provider and which is included in your loan. No fee is charged if you do not accept the credit proposal. We will provide you with a credit quote containing details of our fees and any payments made to us by credit providers before we provide you with credit assistance.

What information is required to receive credit assistance?

Before we provide you with credit assistance, we are required to complete a Preliminary Assessment. This preliminary assessment makes enquiries about:

  • your requirements and objectives for seeking a credit product;
  • your financial and relevant personal situation; and
  • your repayment capacity.

We may also request documentation in order to verify the information contained in the preliminary assessment, such as pay slips, letter of employment and bank statements.

What information is kept on my credit file and can I examine my file?

We maintain a record of your personal profile including details gathered as part of our preliminary assessment. You are entitled to request a copy of our Preliminary Assessment, and we must give you a copy if requested. There is no charge for requesting or receiving a copy of the Preliminary Assessment:

  • at any time during the first 2 years – we must provide it within 7 business days; or
  • between 2 years and 7 years after it was conducted – we must provide it within 21 business days.

We are committed to implementing and promoting a privacy policy, which will ensure the privacy and security of
your personal information.

Are commissions, fees or other benefits paid to Money One Pty Ltd by the lessor?

When we provide you with credit assistance, we (or our directors, employees and authorised credit representatives) receive commissions from the lessors involved. We may receive the following commissions when we provide credit assistance to you:

  • Upfront Commission.
  • Additional Commission depending on the total volume of business we place with the lessor.

We can provide, on request, a reasonable estimate of the commission, fees and benefits and how they are
calculated.

Are commissions paid by Money One Pty Ltd to other parties?

We may pay a referral fee to people or organisations that refer clients to us who receive credit assistance from Money One Pty Ltd. All amounts paid to the referrer are from Money One Pty Ltd share of the commission and benefits. You won’t pay any additional amount if we pay a referral fee. A referral fee is only paid to the referrer by Money One Pty Ltd on settlement of a lease. We can provide, on request, a reasonable estimate of the commission and how it is calculated.

What is a suitability assessment?

By law, we must not provide you with credit assistance if the consumer lease is unsuitable for you. If unsuitable, we cannot:

  • Suggest or assist you to apply for a particular consumer lease with a particular lessor; or
  • Suggest that you remain in your particular consumer lease with your particular lessor.

When is a consumer lease unsuitable?

A consumer lease will be unsuitable if:

  • It is likely that you will be unable to comply with the financial obligations under the consumer lease; or
  • It is likely that you could only comply with the financial obligations with substantial hardship (such as having to sell your principal place of residence); or
  • It is likely that the consumer lease will not meet your stated requirements or objectives.

We want to ensure that the credit products you select with us are not unsuitable for your needs. Because of this, it is important that you openly and honestly discuss with us your requirements, objectives, preferences, financial situation and repayment capacity.

What should I do if I have a complaint about the Credit Licensee?

If you have a complaint or concern about the service provided to you by the licensee, please contact their Complaints Resolution Manager. As part of the Internal Dispute Resolution policy they will investigate the matter and endeavour to address it as quickly as possible.

Complaints Resolution Manager for Money One Pty Ltd
23 Buckhurst Street, South Melbourne VIC 3205
Ph: 03 9040 2359 Email: peter.decunto@money1.com.au

Our aim is to completely resolve any issues you raise. If, despite our best efforts, you believe your complaint has not been satisfactorily dealt with you can refer your complaint to an independent External Dispute Resolution Scheme. We belong to the following external, independent dispute resolution scheme, which can be contacted as follows:

Credit Ombudsman Service Ltd
Case Management Team
C/- Credit Ombudsman Service
PO Box A252
SYDNEY SOUTH NSW 1235
Ph: 1800 138 422
Fax: (02) 9273 8440
Web: www.cosl.com.au
A copy of COSL’s dispute resolution policy is available at www.cosl.com.au or by request to Money One.

 


 

Credit Proposal – Credit Contract

Customer Name: Money One Pty Ltd

ABN: 441 417 986 38| ACL: 395516| 23 Buckhurst Street, South Melbourne VIC 3205

What is a credit proposal?

A Credit Proposal sets out important information about the particular credit contract that you have selected or are interested in. We are required to provide this Credit Proposal to you at the same time that we provide credit assistance to you.

What is credit assistance?

We provide credit assistance when we:

  • Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
  • Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
  • Suggest you remain in a particular credit contract with a particular credit provider.

What is a reasonable estimate of the fees and charges payable to the credit provider and Money One Pty Ltd?

The fees and charges payable may vary depending on which credit provider approves your loan. At the time of providing this document we have not received any formal approval for your loan therefore we can only provide an estimate of fees and charges of the credit provider which Money One Pty Ltd believes best suits your needs. The credit providers we suggest best meets all your requirements are

  • Liberty
  • GE Money
  • Macquarie Bank
  • RACV
  • Esanda
  • Money3

In order to make a sharper decision we will need to acquire further documentation. A consultant will contact you and discuss this further.

What commissions are payable to Money One Pty Ltd regarding my loan?

Commission maybe paid by the credit provider to Money One Pty Ltd (or our directors, employees and authorised credit representatives) for assisting you to obtain finance. Commission can include Upfront Commission and Volume Bonus. Commission payable to us is paid by the Credit Provider and is included in your repayments to the Credit Provider.

What commissions are paid by Money One Pty Ltd to other parties?

We may pay a referral fee to people or organisations that refer clients to us who receive credit assistance from Money One Pty Ltd. All amounts paid to the referrer are from Money One Pty Ltd’s share of the commission and benefits, and only paid to the referrer by Money One Pty Ltd on settlement of a loan.

Will I receive additional information once my loan is approved?

On finalisation of your credit proposal we will provide you with the Money One Pty Ltd Credit Services Summary for your review and acceptance.

Where can I find out additional information regarding this proposal?

Should you have any questions about the information contained in this Credit Proposal, please contact Pietro Decunto on 1300 770 599.


Security

Money One PTY LTD places a great deal of importance on the security of all information associated with our customers, clients and contractors. We have security measures in place to attempt to protect against the loss, misuse and alteration of personal information under our control.

Personal information is de-identified or destroyed securely when no longer required by us. Information stored within our computer systems can only be accessed by those entrusted with authority and computer network password sanctions.

No data transmission over the Internet can be guaranteed to be 100 per cent secure. As a result, while we strive to protect user’s personal information, Money One PTY LTD cannot ensure or warrant the security of any information transmitted to it or from its online products or services, and users do so at their own risk. Once Money One PTY LTD receives your transmission, it makes every effort to ensure its security on its systems.

Money One is a Credit Assistance Provider.
ACL # 395516