Credit Reporting Policy
This Credit Reporting policy contains important information about your credit-related information.
About this policy
Types of credit-related information we collect, hold and disclose
How we collect your credit-related information
How we hold your credit-related information
Purposes for which we may collect, hold, use and disclose your credit-related information
Collection and Disclosure of credit-related information to credit reporting bodies
Disclosure of credit information to other third parties
Access and correction of your credit-related information
Changes to this policy
Further information about credit reporting laws
The Bendigo and Adelaide Bank Group recognises the importance of protecting your personal information. This policy sets out how the Bendigo and Adelaide Bank Group collects, holds and discloses your personal information when you apply for or hold credit facilities with us. This includes credit eligibility information such as credit reporting information that we obtain from credit reporting bodies, information that we derive using it such as a credit score, and information that we disclose to a credit reporting body in relation to your credit application or credit facility you hold with us.
We collectively refer to this information within this policy as “credit-related information”.
This policy applies to any individual that we deal with in connection with a credit facility such as individual borrowers, guarantors and company directors.
The following Bendigo and Adelaide Bank Group of companies (collectively referred to in this Policy as “we”/”us”/”our”) are bound by Part III A of the Privacy Act 1988 (Cth) and the Credit Reporting Code (“credit reporting laws”), which govern credit reporting in Australia:
- Bendigo and Adelaide Bank Limited, including its divisions Adelaide Bank, Bendigo Bank and Delphi Bank
- Bendigo and Adelaide Bank Limited subsidiary companies, including Sandhurst Trustees, Leveraged Equities, Rural Bank and National Mortgage Market Corporation
- Alliance Bank®
- Adelaide Equity Finance
- Community Sector Banking.
Our aim is to comply at all times with the credit reporting laws that apply to us. If you have a comment, query or complaint regarding a privacy matter, we encourage you to discuss it with us.
We collect, hold and disclose the following types of credit-related information:
- Identification details including name (including any aliases), gender, date of birth, drivers licence number, current & most recent past addresses, and current and most recent past employers;
- Consumer credit liability information such as the type, characteristics and maximum amount of credit that we have provided or will provide or the date that any credit contract we or other credit providers have or had with you was entered into and the date that it is terminated;
- Repayment history information in relation to consumer credit facilities provided by us or other credit providers, including whether you have made payments when due and if not when overdue payments have been made;
- Details of previous requests made by a credit provider to credit reporting bodies in regard to credit applications including the date, loan amount and type of loan;
- Details of any default information which is a record of overdue consumer credit loan payments of more than 60 days;
- Payment information that an overdue payment in relation to which default information was provided to a credit reporting body has been paid;
- Whether you have entered into a new arrangement with us or other credit providers in connection with credit provided to you;
- Details of any judgments or writs which is a record of any Australian court legal proceeding relating to your credit;
- Details of any bankruptcy agreements;
- Publicly available information from your public file including present and past company directorships and business proprietorships;
- Whether in our or another credit provider's opinion you have committed a serious credit infringement;
- Information about your credit worthiness such as credit scores, credit risk ratings, summaries and evaluations.
We may collect credit-related information directly from you from details included in your application for credit. We also collect or confirm this information from a third party such as a credit reporting body, government agencies, other credit providers, your employer, your accountant, solicitor or other personal representatives. For information about collection and disclosure of your credit-related information to a credit reporting body please see “Collection and Disclosure of credit-related information to credit reporting bodies” below.
We keep the credit-related information that we hold about you secure to ensure that it is protected from loss, unauthorised access, use, modification or disclosure.
Your credit-related information may be stored physically including in paper form or electronically within secure environments and systems that are protected in controlled facilities. Our employees and authorised agents are obliged to respect the confidentiality of any credit-related information held by us.
We may collect, hold, use and disclose your credit-related information in order to:
- Provide you with credit products and services (including situations where we are an agent for another credit provider);
- Assist you with your queries or concerns;
- Comply with any legal or regulatory obligations imposed on us;
- Perform our regular and necessary business functions (such as internal audit investigations, performance reporting, research, product development and planning);
- Assess your credit application including obtaining mortgage insurance;
- Assess your suitability as a guarantor for a credit facility;
- Assist with collection of overdue payments;
- Assist with hardship requests;
- Assess suitability to securitise loans;
- Derive scores, ratings, summaries and evaluations relating to your credit worthiness which are used in our decision-making processes and ongoing reviews;
- Determine whether you are eligible to receive particular offers and invitations;
- Participate in the credit reporting system and providing information to credit reporting bodies as permitted by the credit reporting laws; and
- Deal with complaints; and assist other credit providers to do the same.
We may obtain credit-related information about you from a credit reporting body. This includes the kinds of information listed under “Types of credit-related information we collect, hold and disclose”.
We may disclose your credit-related information to credit reporting bodies. Credit reporting bodies may include credit-related information provided by us in reports provided to other credit providers to assist them to assess your credit worthiness. Each credit reporting body has a policy for managing your credit-related information that you may access by contacting them.
In some cases a credit reporting body may use your credit-related information for pre-screening your eligibility to receive direct marketing from us or other credit providers. If you do not want a credit reporting body to do this you should contact the credit reporting body.
Where you believe on reasonable grounds that you have been or are likely to be a victim of fraud you may request a credit reporting body not to use or disclose your information by contacting a credit reporting body (see credit reporting bodies contact details below).
We share credit-related information with the following credit reporting bodies:
Equifax (previously Veda Advantage)
PO Box 964
North Sydney NSW 2059
Public Enquiries: 1300 762 207
Illion (previously Dun & Bradstreet)
PO Box 7405
St Kilda Melbourne Vic 3004
Public Enquiries: 1300 734 806
PO Box 1969
North Sydney NSW 2060
Public enquiries: 1300 783 684
Where permitted by law, we may also share credit-related information with other third parties, including:
- other credit providers;
- our related companies;
- intermediaries including introducers, financial advisers, accountants, mortgage managers, lawyers or other intermediaries acting in connection with any credit application;
- current or prospective guarantors in relation to credit we are providing to you;
- mortgage insurers;
- government agencies;
- organisations involved in debt assignment or securitisation arrangements.
In some cases we may need to share some of your information with organisations outside Australia. For example, when you instruct us to carry out a transaction such as a telegraphic transfer to or from an overseas country, or when we use service providers located overseas to perform a function on our behalf.
Bendigo and Adelaide Bank Group may share your information with overseas organisations that are located in the following countries:
You may also refer to the Privacy statement provided to you for specific information about overseas disclosure.
When we share your information with organisations overseas we ensure appropriate data handling and security measures are in place.
In most cases you will be able to access your credit-related information held by us.
If you believe that your credit-related information is inaccurate, incomplete or out of date, you can make a correction request to us, or to the credit reporting body or other credit provider who disclosed this information to us.
If you make a correction request to us, we will take reasonable steps to ensure that your credit-related information is accurate, complete and up-to-date. We may be required to consult with the credit reporting bodies or other credit providers to assess your request for correction. Where your credit-related information is found to be inaccurate, incomplete, or out of date, it will be amended.
If we do not agree that your information is inaccurate, out of date or incomplete, we will give you a written notice including the reasons why we do not agree with you and how you can make a complaint.
Please contact us if you would like to access or request a correction of your credit-related information (see ‘Contacting us’ below).
If you wish to make a complaint regarding the handling of your credit-related information by us please contact our Customer Feedback Team on 1300 361 911 or at firstname.lastname@example.org. We will promptly investigate your complaint and notify you of the outcome.
If you are not satisfied with the response provided you have the option of referring the matter to the Customer Advocate who will impartially assess your complaint, keep you informed of the progress and provide you with a response.
The Customer Advocate can be contacted by:
- Telephone - 1300 139 572 (+61 3 5485 7919) between 8:30am and 5:00pm Victorian time, weekdays
- Email - email@example.com
- Post/Letter - write to Customer Advocate, P.O. Box 480, Bendigo, Vic, 3552
Alternatively (or following consideration by the Customer Advocate) you may refer your complaint directly to the relevant External Dispute Resolution (EDR) scheme.
Financial Ombudsman Service Australia
Tel: 1800 FOS AUS (1800 367 287)
Office of the Australian Information Commissioner
Tel: 1300 363 992
If you have any questions about our Credit Reporting Policy, what credit-related information we may hold in relation to you, or about the way we manage your credit-related information you can contact us as follows:
PO Box 480
Bendigo Vic 3552
Tel: 1300 BENDIGO (1300 236 344)
PO Box 480
Bendigo Vic 3552
Tel: 1300 652 220
Level 5, 120 Harbour Esplanade
Docklands Vic 3008
Tel: 1800 803 173
National Mortgage Market Corporation
Level 3, 120 Harbour Esplanade
Docklands Vic 3008
Tel: 1800 061 091
Fax: (03) 8414 7252
GPO Box 5388
Sydney NSW 2001
Tel: 1300 307 807
Fax: (02) 8282 8383
PO Box 309
Collins Street West Vic 8007
Tel: (03) 8627 2727
Fax: (03) 8627 2777
PO Box 3660
Rundle Mall SA 5000
Tel: 1300 660 115
Community Sector Banking
PO Box 585
Corrimal NSW 2518
Tel: 1300 CSBANK (1300 272 265)
The Bendigo Centre
PO Box 480
Bendigo Victoria 3552
Telephone:1300 146 395
If you would like to contact an entity in the Bendigo and Adelaide Bank Group which is not listed above, please contact 1300 BENDIGO (1300 236 344).
From time to time, it may be necessary for us to review our Credit Reporting Policy and the information contained in this document. We will notify you of any changes by posting an updated version on our website(s).
You can find more information about credit reporting laws (including information about specific issues, answers to frequently asked questions) on the Office of the Privacy Commissioner’s website at www.privacy.gov.au or on the ARCA’s website at http://www.creditsmart.org.au/what-to-check-on-your-credit-report
Date of Publication - February 2018