What information can be disclosed?
The Privacy Act allows QT Mutual Bank Limited (‘QTMB’ ‘we’, ‘us’, ‘our’) ABN 83 087 651 054 and other applicable persons to disclose personal information about you when related to the primary purpose for which it was collected. In connection with providing credit to you, personal information may include credit information:
- details to identify you and verify your identity, such as your name, sex, date of birth, current and 2 previous addresses, your current and last known employer, and your driver’s licence number
- the fact that you have applied for credit and the amount or that we are a current credit provider to you, or that you have agreed to be a guarantor
- advice that payments previously notified as unpaid are no longer overdue
- information about your current or terminated consumer credit accounts and your repayment history including:
- whether or not you have made a payment on time, or missed a payment obligation
- the day on which the payment in question was due and payable
- if you make payment after the day on which it was due and payable, the day on which you make the payment
- payments of at least $150 overdue for at least 60 days and for which collection action has started
- in specified circumstances, that in our opinion you have committed a serious credit infringement
- the fact that credit provided to you by us has been paid or otherwise discharged
- the fact that an information request has been made in relation to you by QTMB
- if QTMB is a current credit provider to you, the type of credit provided, the maximum amount of credit available, the date the relevant credit contract was entered into and the date the credit was terminated or otherwise ceases to be in force
- agreed terms and conditions for the repayment of an amount of credit
- any new arrangement QTMB may enter into with you subsequent to a default listing, and
- other information about credit standing, worthiness, history or capacity that credit providers can disclose under the Privacy Act, including a credit report.
Your sensitive information (eg, health information, membership of a professional or trade association or criminal record) may also be disclosed where relevant to the purposes for collecting it.
Collection of personal information
QTMB may collect personal information in the following ways:
- directly from you using for example application forms, face to face interactions and telephone communications
- from any referees that you may provide to us in support of an application
- credit reporting information may be obtained from Veda Advantage, Dun & Bradstreet or Experian, however we will obtain your consent prior to seeking such information
- from publicly accessible databases such as the National Personal Insolvency Index and the company registration details maintained by the Australian Securities and Investments Commission
- from the Australian Prudential Regulation Authority, and
- through our website
If you visit the QTMB website, our internet service provider can record certain information about your visit as set out in our Website Privacy Statement at www.qtmb.com.au/website-privacy-statement.
Use of personal information
Before, during or after the provision of our products and services to you, we may obtain your personal information for the purpose of providing products and services to you and managing our business. When providing credit to you, this may include assessing your application for consumer or commercial credit or to be a guarantor for the applicant, assessing your credit worthiness, managing your loan or the arrangements under which your loan is funded or collecting overdue payments. Some specific examples of how we may use your information include:
- verifying your identity and creditworthiness
- assessing and actioning applications, for example to open accounts or for obtaining commercial or consumer credit
- considering any other application you may make to us
- establishing, providing and administering facilities and provision of products and services by QTMB and its related companies
- insurance provided in connection with our products and services
- enhancing and developing our relationship with you
- complying with QTMB’s legal and regulatory obligations
- managing defaults and debt collection purposes
- managing our rights and obligations in relation to external payment systems
- administrative, accounting, audit, management, training, planning, record keeping, archiving, staff training and other business purposes of QTMB
- obtaining and maintaining a credit rating
- conducting marketing or customer satisfaction research, and
- sending you information in relation to QTMB’s and our related companies’ products or services, or third party products and services, that may be of interest to you.
If you do not provide us with the personal information that we request, we may not be able to consider your application for credit or provide other services.
Who can give or obtain information?
For the purpose of providing products and services to you, managing our business, and the purposes outlined above, we may give information to:
- external service providers to us, such as organisations which we use to verify your identity, payment systems operators, mailing houses and research consultants
- insurers and re-insurers, where insurance is provided in connection with our services to you
- superannuation funds, where superannuation services are provided to you
- debt collecting agencies, if you have not repaid a loan as required
- our professional advisors, such as accountants, lawyers, auditors and credit rating agencies
- state or territory authorities that give assistance to facilitate the provision of home loans to individuals
- referees provided by you, including your employer
- your authorised advisers and agents (including your finance or mortgage broker, lawyer, financial adviser, builder and settlement agent), attorney, executors, administrators, trustees, guardians and personal legal representatives
- individuals who are nominated to guarantee, or who do guarantee, repayment of any credit provided to you
- loan introducers or dealers
- Cuscal Limited ABN 95 087 822 455
- our business associates with whom we have alliances or arrangements from time to time, for the purpose of promoting their products and services (and to any mailing houses and agents used by us in administering direct marketing arrangements)
- any person to the extent necessary, in our view, to carry out any instruction you give to us
- our related companies, or third parties that we consider may be of interest to you for marketing of their products or services (unless you opt-out)
- an organisation proposing to fund the acquisition of, or acquire, any interest in any obligation you may owe to QTMB (whether under a loan, guarantee or security), that organisation’s agents, persons involved in assessing the risks and funding the acquisition, and after acquisition, the purchaser and any manager
- the Australian Taxation Office, Australian Transactions Reports and Analysis Centre (AUSTRAC), and other regulatory bodies, government agencies, law enforcement bodies and courts
- other credit providers and their professional advisors
QT Mutual Bank is a wholly owned subsidiary of Club Finance Holdings Limited, an entity ultimately owned by the Royal Automobile Club of Queensland Limited (RACQ). RACQ also owns a number of other companies including QT Financial Planning Pty Ltd. As QT Mutual Bank is part of the RACQ group of companies, we may share information with our related entities, for the purposes set out above.
In addition, in connection with providing credit to you, we and the Credit Providers mentioned below may:
- obtain a commercial and consumer credit report containing information about you from a credit reporting body
- exchange credit information about you with each other, and
- exchange credit information about you with any credit reporting body and any other provider of credit to you named in your credit application or a credit report from a credit reporting body.
Credit Providers can mean:
- our related companies,
- any introducer, dealer or broker referred to in a loan application,
- any agent or contractor of ours assisting in processing a loan application,
- Citigroup Pty Limited ABN 88 004 325 080,
- Westlawn Finance ABN 19 096 725 218, and
- other entities that may be involved in a securitisation arrangement and any loan originator.
Important information about credit reporting bodies
Credit reporting bodies collect credit information about individuals which they provide as credit reports to credit providers and others in the credit industry to assist them in managing credit risk, collecting debts and other activities. If you fail to meet your payment obligations in relation to consumer credit, or if you commit a serious credit infringement, we may be entitled to disclose this to a credit reporting body.
“Credit pre-screening” is a service for credit providers wishing to send direct marketing material about credit services. A credit reporting body uses information it holds to screen out individuals who do not meet criteria set by the credit provider. From 12 March 2014, credit reporting bodies must maintain a confidential list of individuals who have opted out of their information being used in pre-screening. From 12 March 2014, to opt out of credit pre-screening, contact the credit reporting body, using the contact details on their websites, referred to above.
You can also ask a credit reporting body not to use or disclose your personal information for a period if you believe on reasonable grounds that you have been or are likely to be a victim of fraud, including identity fraud.
When can information be obtained, used or disclosed?
Before, during or after the provision of our products and services to you, this information can be obtained, used or disclosed by the Credit Providers for the purpose of providing products and services to you and managing our business. When providing credit to you, this may include:
- assessing your application for consumer or commercial credit or to be a guarantor for the applicant, assessing your credit worthiness, managing your loan or the arrangements under which your loan is funded or collecting overdue payments
- allowing a credit reporting body to create or maintain a credit information file about you, and
- if you are in default under a credit agreement, notifying, and exchanging information with, other credit providers and any collection agent of ours.
We may disclose your personal information, including your credit information overseas. The countries where we are likely to disclose your personal information, including your credit information, include India, Singapore, the Philippines and the United States of America. However, if we do disclose this information outside Australia, we will do so on the basis that the information will be used only for the purposes set out in this document.
Disclosure to insurers and guarantors
Lenders’ mortgage insurers
In connection with providing credit to you, a lenders’ mortgage insurer may obtain credit information about you from a Credit Provider or from a credit reporting body to assess whether to provide lenders’ mortgage insurance to us in relation to an application for consumer credit or commercial credit.
In connection with providing credit to you, the Credit Providers may give a guarantor, or a person who is considering becoming a guarantor, credit information about you for the purpose of enabling the guarantor to decide whether to act as guarantor or to keep informed about the guarantee.
Personal information about third parties
We take all reasonable steps to ensure that all your personal information held by us (on our website or otherwise), is protected from misuse, interference and loss, and from unauthorised access, disclosure or modification.
The Credit Providers may use, and share with each other, information about you to inform you about products and services (unless you ask us not to). The Credit Providers may do so even if you are on the Do Not Call Register.
We are required or authorised to collect and disclose personal information under the following laws:
- Income Tax Assessment Act 1936 (Cth);
- Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth);
- Financial Transaction Reports Act 1988 (Cth).
Consequences of not providing personal information
We will not deal with individuals anonymously in relation to account opening, lending and other business transactions.
No one is required by law to quote their tax file number in relation to investments, although there may be financial consequences for individuals who do not in that tax may be taken out of your interest. An investor who is exempt from quoting a tax file number can claim that exemption rather than quoting.
The consequences of not providing any other personal information requested may include that we do not process your application (e.g. for an account or loan), proceed with a transaction, supply you with services at the same standard or at all, and we may not notify you about other products and services that we may offer from time to time.
Our Privacy Officer’s contact details are:
Corporate Legal Department
PO Box 4 Springwood QLD 4127
Telephone: 13 19 05