Money3 Loans Pty Ltd – Credit Guide
Money3 Loans Pty Ltd is the holder of an Australian Credit Licence pursuant to the National Consumer Credit Protection Act 2009 (Cth) (NCCPA) and is authorised to provide certain consumer credit activities to you.
Key Information
| Our full name | Money3 Loans Pty Ltd ABN 36 108 979 406 |
|---|---|
| Address | Level 1, 40 Graduate Road, Bundoora, VIC, 3083 |
| Phone | 1300 329 131 |
| Website | www.money3.com.au |
| Australian Credit Licence number | 389067 |
| Internal Dispute Resolution contact details | Resolutions Team Phone: 03 9093 8211 Email: resolutions@money3.com.au Address: Level 1, 40 Graduate Road, Bundoora, VIC, 3083 |
| External Dispute Resolution Scheme contact details | Australian Financial Complaints Authority (AFCA) Phone: 1800 931 678 Email: info@afca.org.au Address: GPO Box 3, Melbourne VIC 3001 |
We will need information from you
Under the NCCPA, we are obliged to ensure that any loan or credit limit increase to a loan we arrange for you is not unsuitable for you. We cannot provide you with a loan or credit limit increase to a loan that is unsuitable for you. To decide this, we will need to ask you some questions in order to assess whether the loan or credit limit increase is not unsuitable. The law requires us to:
- make reasonable inquiries about your requirements and objectives;
- make reasonable inquiries about your financial situation; and
- take reasonable steps to verify that financial situation.
Credit will be unsuitable if, at the time the loan is made or credit limit is increased:
- you could not pay or only pay with substantial hardship; and
- the credit will not meet your requirements and objectives.
For example, if you can only repay by selling your principal place of residence or forgoing your rent, it is presumed that the loan will cause substantial hardship unless the contrary is proved. For this reason, we must ask you to provide a significant amount of information. It is therefore very important that the information you provide us is accurate.
Furthermore, where it is your objective to receive a specified amount of credit, we are not permitted to offer you more than one medium amount credit contract if it would result in the amount payable under those contracts being higher than the maximum amount that we could charge under a single credit contract, because the credit contract in these circumstances will be unsuitable.
If, before you enter a credit contract or increase your credit limit, you request us for a copy of your credit assessment, we must provide you with a written copy of that assessment before you enter the credit contract or increase your credit limit. We are not required to give you a copy of the credit assessment if you do not enter the credit contract or increase your credit limit. If you ask within 7 years of the date of the loan contract or credit limit increase, we must provide you with a copy of our credit assessment of your application. If you request the credit assessment within 2 years of the contract being entered into or credit limit being increased, the assessment must be supplied to you within 7 business days. If you request the credit assessment beyond 2 years but less than 7 years, the assessment must be supplied to you within 21 business days.
Our internal dispute resolution scheme
We hope you are delighted with our services, but if you have any complaints, you should notify us by contacting our Resolutions Team by:
- telephoning: 03 9093 8211
- website: completing our feedback form at www.money3.com.au/contact-us/customer-complaints
- emailing: resolutions@money3.com.au
- writing to: Resolutions Team, Level 1, 40 Graduate Road, Bundoora, VIC, 3083
or by speaking to any representative of our business who will refer you to the Resolutions Team.
You should explain the details of your complaint as clearly as you can. You may do this verbally or in writing.
When we receive a complaint, we will acknowledge your complaint as soon as possible and attempt to resolve it promptly. More information on our internal dispute resolution can be found on our website at: www.money3.com.au/contact-us/customer-complaints.
Our external dispute resolution scheme
If we do not reach agreement on your complaint, you may refer the complaint to an ASIC Approved External Dispute Resolution Scheme. Our external dispute resolution provider is AFCA whose contact details are on the first page of this Credit Guide.
Questions?
If you have any questions about this credit guide or anything else about our services, just ask at any time. We’re here to help you.
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About The Money3 Credit Guide
This Credit Guide provides information about Money3 Loans Pty Ltd, our Australian Credit Licence, our responsible lending obligations and how you can contact us if you have a complaint or question about our services.
Money3 is required to provide a Credit Guide because we hold an Australian Credit Licence and provide consumer credit activities. This guide helps you understand who we are, how we assess loan applications and what you can do if you have a complaint.
Money3 may ask you for information about your requirements and objectives, your financial situation, your income, expenses and other relevant details. This helps us assess whether a loan or credit limit increase is not unsuitable for you.
A loan may be unsuitable if it does not meet your requirements and objectives, or if you could not meet the repayments, or could only meet them with substantial hardship. Money3 is required to make reasonable inquiries and take reasonable steps to verify your financial situation before providing credit.
Yes. You can request a copy of your credit assessment. If you ask within 2 years of entering into the credit contract or increasing your credit limit, Money3 must provide the assessment within 7 business days. If you ask after 2 years but within 7 years, Money3 must provide it within 21 business days.
If you have a complaint, you can contact Money3’s Resolutions Team by phone on 03 9093 8211, by email at resolutions@money3.com.au, or in writing to Resolutions Team, Level 1, 40 Graduate Road, Bundoora, VIC, 3083. You can also find more information on our complaints page.
