Privacy

Acknowledgement and authority that the credit information may be given to a credit reporting agency.

I/we understand that Section 18E(8) (c) of the Privacy Act allows the Bank to give a credit reporting agency certain personal information about me/us which I/we authorize the Bank to do. The information which may be given to a credit reporting agency is covered by Section 18E(1) of the Act and includes:

Identifying details of myself

The fact that I have applied for credit and the amount

The fact that the Bank is a credit provider to me/us.

Payments which become overdue more than 60 days and collection action has commenced. Advice that payments are no longer overdue.

Cheques in excess of $100.00 drawn by me/us which the Bank has dishonored more than once.

In specific circumstances, that in the opinion of the Bank I have committed a serious credit infringement. That the credit provided to me/us by the Bank has been discharged.

Authority for the Bank to obtain certain credit information.

To enable the Bank to assess my/our application for commercial or personal credit and to conduct subsequent reviews thereof, I/we authorize the Bank:

- To obtain from a credit reporting agency a credit report containing personal information about me/us in relation to personal credit provided by the Bank:

- To obtain from a credit reporting agency a credit report containing personal information about me/us in relation to commercial credit provided by the Bank. This is in accordance with Section 18K (1) (b) of the Privacy Act.

- To obtain a report containing information about me/our commercial activities or commercial credit worthiness from a business which provides information about the credit worthiness in relation to personal credit provided by the Bank. This is in accordance with Section 18L (4) of the Privacy Act.


Authority to exchange information with other credit providers

In accordance with Section 18N (1) (b) of the Privacy Act, I/we authorize the Bank to give and to obtain from credit providers named in this credit application, and credit providers that may be named in my/our credit report issued by a credit reporting agency, information about my/our credit arrangements, I/we understand this information can include any information about my/our creditworthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act 1988.

I/we understand the information may be used for the following purposes:

- To assess an application by me/us for credit.

- To assist me/us avoid defaulting on me/our credit obligations.

- To notify other credit providers of a default by me/us.

- To assess my/our creditworthiness.


Banker’s opinion

I/we authorize the Bank to give and receive a Banker’s Opinion for purposes connected with my/our business, trade or profession.

Authority for Lender Mortgage Insurers.

In accordance with Section 18N (1) (bb) of te Privacy Act I/we authorize the bank to disclose a report or information to a Lender Mortgage Insurer to assess whether to insure or the risk of insuring the Bank for the mortgage credit given to me/us, or to assess the risk of default by me/us on the mortgage credit, or for any purpose arising under the contract of mortgage insurance between the bank and the Lenders Mortgage Insurer.

Authority for the Bank to give information to guarantors and proposed guarantors.

Pursuant to Section 18N (1) (ga) of the Privacy Act, I/we authorize the Bank to give to any person nominated as guarantor or potential guarantor of personal or commercial credit provided to me/us by the Bank:

- personal information about my/our credit worthiness, credit standing, credit history, credit capacity or other relevant information (i) relating to the credit facilities which are subject of the guarantee (ii) for any purpose related to the enforcement or proposed enforcement of the guarantee

- A copy of the agreement guaranteed or to be guaranteed by the guarantor (whether signed or unsigned)

- A copy of any notice sent to me or to the Bank (including a formal demand)

- If the guarantor requests, a copy of any statement for my credit or other facility which they guarantee.

Declaration

I/we have read the particulars which have been completed in this form and state that these particulars are true and correct and have been provided to the Bank to enable it to determine whether or not to provide me/us the loan facility for which I/we hereby make a formal application.

I/we agree to pay all costs, outlays and out of pocket expenses (including valuation, registration, stamp duty and legal costs) incurred by the Bank whether the advance is made or not.

I/we authorise the Bank to debit my/our nominated account, or any other account held with the Bank, if the nominated account has insufficient funds, for all repayments and interest payable in relation to the loan.

I/we also understand and confirm that a credit check may be undertaken as part of this application and I/we have read and understood the above Acknowledgment and Authority regarding the Privacy Protection Information. 

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