RACT Loans terms and conditions
PRIVACY DECLARATION AND CONSENT FORM
We, R.A.C.V. FINANCE LIMITED (A.B.N. 82 004 292 291) Australian credit licence 391488, will collect and use your personal information as follows. By submitting this document you consent to us collecting, using, holding and disclosing personal and credit information about you.
- Collection of your personal information and credit-related personal information: We will collect your personal information and credit related personal information for the purpose of arranging or providing credit to you and managing your loan and relationship with us. If you are a guarantor we collect your personal and credit-related personal information to assess whether to accept you as a guarantor for credit applied for, or provided to the borrower. Collection of some of the information is required by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 . If you do not provide us with this consent or your personal information, then we will be unable to process your loan application and it will not proceed.
- Collection of personal information about third parties: We may need to collect personal information about a third party from you as part of our loan process. If we do , you agree to advise that person that we have collected their information and that they can access and seek correction of that information we hold about them.
- Use and disclosure of your personal information and credit-related information: We may use your personal information and credit related personal information to perform our loan assessment functions such as; verifying information with current or past employers and rental agencies. We may also use your personal information to perform our business functions with the following entities such as, credit reporting bodies , mercantile or collection agents, specialist advisors such as auditors , lawyers and accountants, finance brokers and persons who are assisting you to obtain credit, and any person or government authority where we are required by law to do so including our dispute resolution organisation when a complaint regarding the management of your loan is lodged about us. We may also share your information with Royal Automobile Club of Tasmania Limited ABN 62 009 475 861 (RACT) and its group of companies for the purpose of maintaining their records and offering you RACT member products and benefits.
- Disclosure of your personal information and credit-related information to overseas organisations: We will not, in the normal course of our business, disclose your personal information overseas. However, our loan system service provider is located in New Zealand and as such all RACV Finance system information is hosted and stored in an operational hub in that country. We have taken reasonable steps to ensure they comply with the Australian privacy law standards.
- Access to and correction of your personal information and credit-related personal information: You can gain access to and seek correction of your personal information and credit-related personal information. Exception to access may occur in some instances where your request may be deemed, frivolous, or vexatious, or the information is in relation to existing or anticipated legal proceedings between you and us. Where you request a correction of your information and we have established that your personal information is not correct, then we will take steps to correct the information and see that it is accurate and up to date. If we deny you access or refuse your correction request we will advise you in writing of our decision.
- Direct marketing: We may use your personal information to inform you about a product or service we think you may be interested in. These may be products and services offered by us or related entities we are associated with. If you do not wish to receive any marketing material from us you can withdraw your consent by contacting us on 13 15 60.
- Collection, use and disclosure of your credit ârelated personal information: By submitting this application you agree that we can do all of the following.
- Commercial credit-related personal information: Seek and use commercial credit-related information to assess an application for consumer credit or commercial credit.
- Consumer credit-related personal information: Seek and use consumer credit-related information to assess an application for consumer credit or commercial credit.
- Collections of Overdue Payments: Seek and use a credit report provided by a credit reporting body to collect overdue payments.
- Exchange of Information between Credit Providers: Seek from and use or give to another credit provider (including without limitation any other credit provider named in your credit application and credit providers that may be in a credit report issued by a credit reporting body) credit information about your credit worthiness, credit standing, credit history or credit capacity.
- Provide Information to Guarantors: Disclose any information to any person or entity who proposes to guarantee or has guaranteed repayment of any credit provided.
- Provide Credit information including personal information to the following credit reporting bodies: (Notifiable Matters). Both credit reporting bodies have policies for managing your credit-related personal information that you may access by contacting them at;
- Veda Advantage Information Services & Solutions Ltd: at www.veda.com.au or at P.O Box 964, North Sydney NSW 2059. Phone: 1300 762 207.
- Experian Australia Credit Services Pty Ltd: at www.experian.com.au or at PO Box 1969 North Sydney NSW 2060. Phone: 1300 784 134.
The personal and credit information we will disclose to credit reporting bodies may include identity particulars (which we may disclose to the credit reporting body to verify your identity for the purpose of the AML/CTF Act using information held by the credit reporting body); type and amount of credit applied for; the fact that we are a current credit provider to you and the type, amount and date the credit was provided to you and that the credit provided has been paid or otherwise discharged. We will also disclose details of amounts which may have become overdue on your loan by more than 60 days (and for which we have provided you with a section 6Q and section 21D notice in accordance with the Privacy Act). We will disclose when payments are no longer overdue; and if in the opinion of RACV Finance you have committed a serious credit infringement.
You will have the right to request access to the credit information we hold about you and make a request for us to correct that information. For further information refer point 5 of this consent and acknowledgement.
You can receive a copy of our Privacy and Credit Reporting Policy by contacting us in accordance with point 8 of this consent and acknowledgement.
A Credit Reporting Body may include the information disclosed by us in reports provided to other credit providers to assist them to assess your credit worthiness.
You are entitled to request that a Credit Reporting Body:
Privacy and Credit Reporting Policy: You should also read our Privacy and Credit Reporting Policy. This policy document is available on our website at www.racv.com.au or by contacting us on 13 15 60.
Making a Complaint: If you believe that we have breached the Privacy Act or compromised your privacy then you are entitled to complain to us. Details on how you can make a complaint to us can be found in the RACV Finance Privacy and Credit Reporting Policy.
- not use or disclose credit reporting information about you for the purpose of pre-screening of direct marketing by us or other credit providers;
- not use or disclose credit reporting information about you where you believe on reasonable grounds that you have been or are likely to be a victim of fraud.
To view the full version of the RACV Finance Privacy and Credit Reporting Policy click here
Under the Electronic Transactions Act 1999 certain transactions may be entered into electronically. RACVF requires your consent to conduct business with you electronically. By submitting' your loan application you acknowledge and confirm your consent to RACVF communicating with you electronically, pursuant to the provisions of the Electronic Transactions Act 1999.