In handling your personal and financial information, Police Financial Services Limited ABN 33 087 651 661 (BankVic) is committed to complying with the Privacy Act 1988, the Australian Privacy Principles and any industry Code of Practice to which we have agreed to be bound.
BankVic recognises the importance of your privacy and is committed to protecting all personal and financial information about you that we hold. We are intent on safeguarding your privacy.
What information can be disclosed?
The Privacy Act 1988 allows Police Financial Services Limited (‘we’,‘us’, ‘our’, ‘BankVic’) ABN 33 087 651 661 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:
Collecting, using and disclosing personal information
Why do we obtain information?
BankVic collects personal information directly from you before,during or after the provision of products and services to you, when you apply for membership and when you inform us of any change to the information we hold about you. We also collect your personal information from others when you transact on your account/s, visit our website, as required by relevant laws or with your specific consent and in 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.
If you do not provide the requested personal information, BankVic may not be able to consider your application for credit or provide other services.
We use this information when:
Most commonly, the collection, use and disclosure of personal information will be subject to the Anti-Money Laundering and Counter Terrorism-Financing Act 2006 where the provision of a designated product or service is governed by that Act; the provision, use and disclosure of your tax file number under the Tax Administration Act1953; where an insurance product is governed by the Insurance Contracts Act 1973, we will ask you and any life to be insured for information which may affect the insurance company’s decision to grant insurance or the terms of insurance; under the Retirement Savings Account Act 1997 we are required to collect information about identity and circumstances for the purposes of opening and operating the respective account; under the National Consumer Credit Protection Act 2010 to ensure we have sufficient information to make an informed decision about your credit application; and under the US Foreign Account Tax Compliance Act we may seek information about your residency.
Who can we provide your information to?
For the purpose of providing products and services to you and managing our business, we may give information to:
In addition, in connection with providing credit to you, we may:
Under the Anti-Money Laundering and Counter-Terrorism Financing Act, we can disclose your name, residential address and date of birth to an electronic verification service (Edentiti) or credit reporting body (CRB) such as Veda Advantage Ltd (Veda). The purpose of this disclosure is to ask Edentiti or Veda to assess whether the personal information disclosed matches (in whole or part) personal information about you held in their records (if any). This electronic verification process helps us to verify your identity.
If you do not consent to us verifying your identity by electronic verification, we will provide you with an alternate verification process to identify you. This is explained in our membership application, on our website or you can contact us on 13 63 73 for further information.
We will not disclose your personal information overseas. However,our third party service providers may do so. If we do disclose your personal 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.
Important information about credit reporting bodies
If you apply for or hold any kind of credit with us, we may disclose information about you to a credit reporting body.
That includes disclosing that you are in default under a credit agreement or have committed a serious credit infringement, if that is the case.
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.
“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. Credit reporting bodies must maintain a confidential list of individuals who have opted out of their information being used in pre-screening. To opt out of credit pre-screening, contact the credit reporting body, using the contact details on their website, referred to previously.
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.
Disclosure to insurers and guarantors
Lenders' mortgage and trade insurers
In connection with providing credit to you, a lenders’ mortgage insurer or a registered trade insurer may obtain credit information about you from a Credit Provider such as BankVic or from a credit reporting body such as Veda to assess whether to provide lenders’ mortgage insurance to us in relation to an application for consumer credit, or whether to provide trade insurance to us in relation to an application for commercial credit.
In connection with providing credit to you, BankVic 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.
We may use information about you to inform you about products and services (unless you ask us not to). We may do so even if you are on the Do Not Call Register. To opt out of receiving direct marketing contact BankVic on 13 63 73, email us at email@example.com or contact our Privacy Officer whose details appear below. Our electronic marketing messages will include an‘unsubscribe’ option allowing you to opt out of receiving further direct marketing.
Our Privacy Officer’s contact details are:
Address: GPO Box 2074, MELBOURNE VIC 3001
Telephone: 13 63 73