SocietyOne Privacy and Credit Reporting Policy
When you trust SocietyOne with your personal and financial information, we know you expect us to protect it and keep it safe. We are committed to protecting the privacy of the personal information of individuals with whom we deal
We are bound by the Privacy Act 1988 (Cth) ('Privacy Act') and will protect your personal information in accordance with the Privacy Act, the Privacy (Credit Reporting) Code 2014 ('Code') and the Australian Privacy Principles ('APPs'). The Code and the APPs govern how we can collect, use, hold and disclose your personal information, as well as ensuring the quality and security of your personal information.
This Policy applies in respect of SocietyOne and includes our policy on the handling of credit reports and other credit-related personal information.
Please note that during the course of our relationship with you, we may tell you more about how we handle your information. This could be when you complete an application or receive terms and conditions or a Product Disclosure Statement. When you receive this further information, please consider it carefully. Please also visit our website regularly as we update this policy from time to time.
What is personal information?
Personal information includes any information or opinion, about an identified individual or an individual who can be reasonably identified from their information. The information or opinion will still be personal information whether it is true or not and regardless of whether we have kept a record of it.
The information that we seek to collect about you will depend on the products or services that we provide. If you do not allow us to collect all of the information we request, we may not be able to deliver all of those services effectively.
What kinds of personal information do we collect and hold?
When you apply for our products or services we may ask for identification information. This could include your name, address, contact details and date of birth. If you apply for a loan with us we may also collect credit-related personal information and credit reports and other credit information about you. We may also collect your tax file number if we are authorised to collect it and if you choose to supply it.
Throughout the life of your product or service, we may collect and hold additional personal information (including credit-related personal information) about you. This could include transaction information or making a record of queries or complaints you make and, if you make an insurance claim, collecting additional information to assess the claim.
The collection of sensitive information is restricted by the Privacy Act. This includes information about your religion, racial or ethnic origin, political opinions, criminal record, and sexual orientation. It also includes health information and biometric information.
Generally, we only collect this sort of information if it is necessary to provide you with a specific product or service and you have consented to that collection.
How do we collect personal information?
We collect most personal information directly from you. For example, we will collect your personal information when you apply for or use a product or service or talk to us in person or on the phone. Your personal information may include credit-related information. For example, you may instruct GetCreditScore to provide us with your credit grade.
We also collect information from you electronically. When you use our website, tablet or mobile applications we may collect information about your location or activity including the date of and time of visits, which pages are viewed, how you as the user navigate through the website and interact with the webpages (including fields completed in form and applications), IP address, telephone number, information about the device used to visit our website and whether you've accessed third party sites. Some of this website information we collect using Cookies.
We collect information about you from others, such as our related bodies corporate, service providers, agents, advisers, brokers, employers or family members. We will generally only do this with your consent. For example, if you apply for credit, we may need to obtain a credit related information about you including identification information about you, information about your existing lines of credit, repayment history information, statements that an information request has been made in relation to you by a credit provider, mortgage insurer, the type and amount of credit sought in a credit application by you to a credit provider, default information, payment information, court proceedings information, personal insolvency information or information derived by a credit reporting body such as a credit report. We may also collect information about you that is publicly available, for example from public registers or social media, or made available by third parties.
If we need to obtain sensitive information about you, we will ask for your consent, except where otherwise permitted by law.
So that we can better tailor information and products to your needs, when we send you email messages, we may use technology to identify you so that we can know when you have opened the email or clicked on a particular link in the email.
If you log into the SocietyOne website we may collect information from you to confirm your identity. When you ring us, we may also monitor and/or record telephone calls for the purposes of staff training and to verify statements made during the phone call.
What laws require or authorise us to collect personal information?
We are required or authorised to collect:
Certain identification information about you by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and Anti-Money Laundering and Counter-Terrorism Financing Rules;
Your Tax File Number, if you choose to provide it, by the Income Tax Assessment Act 1936 (Cth);
If you have applied for credit or provide a guarantee, certain information about your financial position under the National Consumer Credit Protection Act 2009 (Cth), and if you give us a mortgage security, certain identification information under property laws in some states and territories.
How do we hold personal information?
Much of the information we hold about you will be stored electronically in secure data centres which are located in Australia and owned by either SocietyOne or external service providers. Some information we hold about you will be stored in paper files. We use a range of physical and electronic security measures to protect the security of the personal information we hold.
access to information systems is controlled through identity and access management
employees are bound by internal information security policies and are required to keep information secure
all employees are required to complete training about information security; and
we regularly monitor and review our compliance with internal policies and industry best practice.
How do we use personal information?
We collect, use and exchange your information so that we can:
establish your identity and assess applications for products and services
price and design our products and services
administer our products and services
manage our relationship with you
manage our risks and help identify and investigate illegal activity, such as fraud
contact you, for example if we suspect fraud on our account or need to tell you something important
conduct and improve our businesses and improve the customer experience
comply with our legal obligations and assist government and law enforcement agencies or regulators
identify and tell you about other products or services that we think may be of interest to you.
We may also collect, use and exchange your information in other ways where permitted by law.
Who do we exchange your information with?
We may share your personal information with other companies within the SocietyOne Group.
We may also provide personal information about our customers to organisations outside the SocietyOne Group. To protect personal information, we enter into contracts with our service providers that require them to comply with the Privacy Act. These contracts oblige them to only use the personal information we disclose to them for the specific role we ask them to perform.
Generally, we disclose personal information to organisations that help us with our business.
These may include:
our agents, contractors and external service providers
authorised representatives and credit representatives who sell products and services on our behalf;
payment systems operators
other organisations, who jointly with us, provide products or services to you;
other financial services organisations, including banks, superannuation funds, stockbrokers, custodians, funds managers and portfolio service funds;
our financial advisers, legal advisers or auditors;
your representatives - including your legal adviser, accountant, mortgage broker, financial adviser, executor, administrator, guardian, investigate or prevent fraud or other misconduct;
fraud bureaus or other organisations to identify, investigate or prevent fraud or other misconduct;
external dispute resolution schemes;
credit reporting bodies; and
regulatory bodies, government agencies and law enforcement bodies in any jurisdiction.
We may also disclose your personal information to others outside of SocietyOne where:
we are required or authorised by law or where we have a public duty to do so;
you may have expressly consented to the disclosure of the consent may be reasonably inferred from the circumstances; or
we are otherwise permitted to disclose the information under the Privacy Act.
Do we disclose personal information overseas?
We may disclose your personal information to a recipient which is located outside Australia.
SocietyOne companies located in Singapore and New Zealand
SocietyOne service providers which are likely to be located in the United States, United Kingdom; and
for international transactions, we may need to disclose your information to the corresponding international party in order to process the transaction. The countries we disclose your information to will depend on the details of the transaction your ask us to carry out.
Do we use information for marketing?
We will use your personal information to offer you products and services we believe may interest you, but we will not do so if you tell us not to. These products and services may be offered by SocietyOne or one of its preferred suppliers. We may offer you products and services by various means, including by mail, telephone, email, SMS or other electronic means , such as through social media or targeted advertising.
So that we can better tailor our information and products to your needs, we use technology known as a "cookie" to collect statistical information about you when using internet browsing, mobile or tablet applications. A cookie is a packet of information placed on your computer's hard drive or in memory by a website for record keeping purposes. They can record information about your visit to the site, allowing it to remember you the next time you visit and provide a more meaningful experience.
One of the reasons for using cookies is to offer you increased security. The cookies we send to your computer cannot read your hard drive, obtain any information from your browser or command your computer to perform any action.
Credit Checks and credit reporting
When you apply for credit or propose to be a guarantor, we need to know if you’re able to meet repayments under your agreement with us. We also want to avoid giving you further credit if this would put you in financial difficulty. One of our checks involves obtaining a credit report about you.
What is a Credit Report?
A credit report contains information about your credit history which helps credit providers assess your credit applications, verify your identity and manage accounts you hold with them. Credit reporting bodies collect and exchange this information with credit providers like SocietyOne and other service providers such as phone companies.
The Privacy Act limits the information that credit providers can disclose about you to credit reporting bodies, as well as the ways in which credit providers can use credit reports.
What information can we exchange with credit reporting bodies?
The information we can exchange includes your identification details, what type of loans you have, how much you’ve borrowed, whether or not you’ve met your loan payment obligations and if you have committed a serious credit infringement (such as fraud). We also ask the credit reporting body to provide us with an overall assessment score of your creditworthiness.
The credit reporting bodies we use are:
Veda Advantage Information Services and Solutions Ltd www.veda.com.au
Experian Australia Credit Services Pty Ltd www.experian.com.au/creditsservices
Dun & Bradstreet (Australia) Pty Ltd www.checkyourcredit.com.au
What do we do with credit-related information?
We use information from credit reporting bodies to confirm your identity, assess applications for credit, manage our relationship with you and collect overdue payments. We may also use this information as part of arriving at our own internal assessment of your creditworthiness.
We store credit-related information with your other information. You can access credit-related information we hold about you, request us to correct the information and make a complaint to us about your credit-related information.
Credit reporting bodies with whom we exchange information may include the information in reports they provide to credit providers to assist those credit providers assess your credit worthiness. You can obtain a copy of the credit reporting body's policy about the management of credit-related information by contacting the relevant reporting body or obtaining a copy of their policy from their website.
Credit providers may ask credit reporting bodies to use their credit-related information to pre-screen you for direct marketing. You can ask a credit reporting body not to do this. Also, if you’ve been, or have reason to believe that you’re likely to become, a victim of fraud (including identity fraud), you can ask the credit reporting body not to use or disclose the credit-related information it holds about you.
Accessing, updating and correcting your information
Can I get access to my information?
You can request access to the personal information (including credit-related information) we hold about you. You can also ask for corrections to be made. To do so, please contact us.
Is there a fee?
If you make a request asking us for access to your personal information, a reasonable cost may be charged. This charge covers such things as locating the information and supplying it to you.
There is no fee for requesting that your personal information be corrected or for us to make corrections.
You will not be charged any fees to access your credit-related information if you have not made a request for accessing the information within the preceding 12 months. If you have made an access request within the preceding 12 months, a reasonable cost may be charged.
Can we deny or limit your request for access?
We are not required to provide you access if we are unable to identify you and in certain circumstances we’re allowed to deny your request, or limit the access we provide. For example we might not provide you access to commercially sensitive information. Whatever the outcome, we’ll write to you explaining our decision.
What if SocietyOne disagrees that the information should be corrected?
If we disagree with you that information should be corrected, we’ll let you know in writing of our reasons. You can ask us to include a statement with the relevant information, indicating your view that the information is inaccurate, misleading, incomplete, irrelevant or out-of-date. We will take reasonable steps to comply with such a request.
Contact us about our privacy and information handling practices
If you are concerned about how your personal information is being handled or if you have a complaint about a breach by us of the Privacy Act, the code of the APPs, please contact us.
- Website Conditions
General terms and conditions for all users
To the extent possible we choose to carry out all transactions by means of electronic communication in accordance with the Electronic Transactions Act 1999 (Cth) and any regulations. You consent to using electronic means to form, or agree, or agree to, or bind you to, legal obligations. Therefore, where you indicate through electronic means your agreement to, or acceptance of, terms and conditions, offers and other documents, you will be taken to have agreed to, or signed them.
You agree that any where We are required, by law or otherwise, to provide you with any documentation you consent to the provision of that document electronically through the links on this website or any other means We choose to use. Paper documents may no longer be given to you and you must regularly check your email, Activity Feed, your Account, text messages and SocietyOne Website for the documents. You may withdraw your consent to the giving of documents by electronic communication at any time by emailing us at firstname.lastname@example.org.We suggest that you print a copy of the document, or file it electronically, for future reference.
To access SocietyOne's services you will also need to agree to receive notices, information and other disclosures in electronic form. We carry out all transactions by means of electronic communication in accordance with the Electronic Transactions Act 1999 (Cth) and any regulations.
also consent to receive notices, information and other disclosures in electronic form We choose to use. through the links on this website or any other means.
The Site contains information and features that you can access and use, including borrowing and lending accounts and related services, monitoring your loans, participating in groups and any other features or content we may add in the future (the Services).
Eligibility to Use SocietyOne's Services
To be eligible to use Our services via the Site you must hold an Australian bank account and be twentyone (21) years of age or older (Eligibility Criteria). We may vary the Eligibility Criteria from time to time. By using the Service or the Site, you represent and warrant that you are 21 or older and have an Australian bank account. We may terminate your membership (see below), delete your profile and any content or information that you have posted on the Site and/or prohibit you from using or accessing the Site without limitation if We believe that you do not comply with the Eligibility Criteria.
To access the full range of Our services and to view all the available details we require that you register a SocietyOne Account (Account) (thereby becoming an Account holder) using a valid email, a user name, a secure password and security question. Each registration is for a single user or joint users only where you are married or in a de facto relationship (Joint Registration). If you are eligible for Joint Registration and register an Account, you and your registering partner will be held to be jointly and severally liable at all times. You must not share your user name and password with any other person nor with multiple users on a network.
You are responsible for maintaining the confidentiality of your password and security question at all times. Please notify Us immediately of any unauthorised use or any other breach of security in relation to your Account. You may not use an Account held by any other individual or entity to access Our services at any time.
Collection of Information
You authorise Us to collect and access your information from time to time for the purpose of providing Our services to you. If you have any questions regarding the collection and access to your personal information, please contact us by emailing email@example.com. We may collect personal information from Social media networks such as LinkedIn when providing Our services. We may also collect personal information as required or authorised by or under The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), the National Consumer Credit Protection Act 2009 (Cth), The National Credit Code, or any of their related regulations. In addition, if we are required or authorised by or under a court or tribunal order to collect personal information about you, we will take reasonable steps to notify you as soon as practicable after the order.
We generally use personal information to:
provide you with services you have requested;
communicate with you;
determine your SocietyOne Credit Score;
verify your identity and other information you provide to Us; and
help us manage and enhance Our services.
If some or all of the personal information is not collected, we may not be able to provide you with Our services, so that you may not be able to borrow from or invest with us. We may also disclose personal information to credit reporting and rating agencies, debt collection agencies, any related body corporate of SocietyOne and other third parties and contractors as part of providing Our service.
access your personal information held by Us and seek the correction of such information; and
complain about a breach of the Australian Privacy Principles or a registered Australian Privacy Principles Code (if any) that binds Us, and how We will deal with such a complaint.
For the purpose of providing you with Our services, it is likely that we may disclose your personal information to overseas recipients located in New Zealand.
Type Definition Example Marketing Information relating to investing or borrowing via the Online Platform, advertisements or promotion of SocietyOne services.
- Emails containing information on new credit lending services or promotions;
- Activity Feed notification to a customer of a special offer; or
- An email promoting a customer competition on societyone.com.au
Operational Information relating to your Account, Loan or Bid, servicing information including information regarding fees and charges and terms and conditions published by SocietyOne.
- Activity Feed notification reminding you to deposit funds into your account to avoid fees and charges;
- Text message notifying you of the progress of your Bid;
- An email notifying you of your successful Loan application.
Legal Legal documents, notices or communications
- Loan Offer
- Payment dishonours and Arrears notifications
- Notices of Default and Intent to Default; or
- Notices of demand
- Yodlee Terms
Yodlee, Inc. of 3600 Bridge Parkway, Redwood City, California 94065 (the "service provider") provides SOCIETYONE with the technology and other services required to deliver SOCIETYONE Online Bank Statements Retrieval. The service provider is a Banking beneficiary under these Terms with all the rights, benefits and protections as if it were a party to these Terms and a reference to SOCIETYONE in these Terms shall (for the purpose of the service provider receiving the full benefit of such rights, benefits and protections) also be deemed to be a reference to the service provider.
SOCIETYONE Online Bank Statements Retrieval is an information management service that allows you to retrieve your bank statements and forward them online to SOCIETYONE.
When you use SOCIETYONE Online Bank Statements Retrieval to access your Banking Website you:
authorise SOCIETYONE to use information provided by you to access a Banking Website; retrieve statement information requested by you; to copy or transfer such statement information; and to otherwise use, display, andd create derivative works from such information to provide SOCIETYONE Online Bank Statements Retrieval to you. For these purposes you appoint SOCIETYONE and its service provider as your agent with the full power to do and perform each act or thing requisite and necessary to be done and as fully as you might or could do in person;
represent that you are the legal owner of the account at the Banking Website and that you have the authority to designate SOCIETYONE and its service provider as your agent and to give us the information you provide to use SOCIETYONE Online Bank Statements Retrieval;
acknowledge that when SOCIETYONE and its service provider accesses and retrieves information from a Banking Website they do so as your agent and they are not the agent of the entity providing the Banking Website; and
acknowledge that balances shown on SOCIETYONE Online Bank Statements Retrieval obtained from a Banking Website reflect the most recent refresh by the entity providing the Banking Website and the most recent refresh by SOCIETYONE Online Bank Statements Retrieval and may not be as accurate as if the Banking Website was accessed directly.
SOCIETYONE has no responsibility for any transactions, inquiries or other activities you initiate at a Banking Website, the products and services at a Banking Website and any fees charged by the entity providing the Banking Website.
You represent that:
all information you provide to SOCIETYONE and its service provider in connection with SOCIETYONE Online Bank Statements Retrieval is accurate, current and complete, and that you have the right to provide such information to SOCIETYONE and its service provider for the purpose of operating SOCIETYONE Online Bank Statements Retrieval.
You agree to not:
misrepresent your identity or your account information. You agree to keep your registration and account information up to date and accurate.
You are responsible for maintaining the confidentiality of your personal identification number ("PIN") and all other log-in information in relation to SOCIETYONE Online Bank Statements Retrieval and any Banking Website. You must not:
disclose your PIN and/or password any other log-in information to any other person, except to the extent necessary for SOCIETYONE to provide SOCIETYONE Online Bank Statements Retrieval to you;
keep a record of your PIN and/or password and other log-in information;
write your PIN and/or password down and other log-in information;
negligently or recklessly disclose your PIN and/or password and other log-in information by, for example, failing to take reasonable care when typing it or keying it in PIN and/or password and other log-in information that you select must not be easily identifiable