Legal

This website is operated by Sparen Pty Ltd, trading as OK! Cash Loans, ABN 27 001 898 148 under the domain name “www.okcashloans.com.au”

Access to and use of this website including the online application is undertaken on the following terms and conditions.

The right of refusal

1. OK! Cash Loans reserves the unconditional right, without challenge or review, to be able to refuse to provide one or more financial products to an individual or a class of individuals, as OK! Cash Loans may exclusively and from time to time determine and without explanation.
2. The acceptance of a consumer’s application on one occasion does not guarantee that OK! Cash Loans will make the same, or similar, decision to accept the same consumer’s application, or group of consumers’ applications, on another and later occasion, notwithstanding any similarity of circumstances.
3. To be successful, applicants for all financial products must meet all regulatory requirements expected of and applicable to their application for the purchase of any product.

Decision criteria

1. OK! Cash Loans reserves the exclusive right to establish criteria for the acceptance or rejection of applications to purchase its products.
2. OK! Cash Loans reserves the right to vary the criteria for refusal and for the employment of such criteria in making determinations, from time to time, and as between internet and store delivered product.
3. Other general or product specific conditions may apply from time to time, which may be different, or in addition to, conditions previously employed by OK! Cash Loans. The consumer is invited to telephone, email and/or visit the OK! Cash Loans store, to receive complete clarification of contemporary conditions.

Documentation

1. OK! Cash Loans reserves the right to request documentation evidencing a consumer’s claim or circumstances. Denial of this request may result in refusal of an application to purchase a product.
2. Documentation provided in response to any OK! Cash Loans request may be examined and copied by OK! Cash Loans, whether provided by the consumer or their agent by way of original or faxed copy and such copies shall be kept on the consumer’s file for a minimum period, as determined by law or by OK! Cash Loans, whichever is the longer.
3. OK! Cash Loans reserves the right to examine filed documentation and make an assessment including but not limited to, issues of identity, residential status and financial circumstances based, in part or whole, on that examination at the time of its provision and at some future date from that of receipt of the documentation, when the consumer makes a further application, or further applications, to purchase any OK! Cash Loans product.

OK! Cash Loans and law enforcement authorities

1. OK! Cash Loans, in the fulfilment of its legal obligations under laws relating to money laundering, the financing of terrorism, taxation, crime in general and any other applicable laws that may be passed by the Parliament from time to time may, at its absolute discretion, determine that a relevant authority be informed of information or goods in the possession of OK! Cash Loans.
2. OK! Cash Loans will not entertain any representation by a person or organisation claiming to represent a consumer, without that consumer’s genuine and written permission.

Consumer complaints

1. Without exception, OK! Cash Loans works with all its customers and expects all consumers who may have a concern, a feeling of dissatisfaction and/or a complaint after entering into an arrangement to purchase a product from OK! Cash Loans, to honour their contractual obligations, the message included on any credit guide previously provided to the consumer by the company, and the general intentions of the Australian Securities and Investments Commission and the National Consumer Credit Protection Act 2009 – by first making an application to OK! Cash Loans’s Internal Disputes Resolution scheme Manager and awaiting the outcome of that application, in accordance with the law, before seeking the assistance of any external dispute resolution scheme.

Advertising

1. All OK! Cash Loans advertising is presented as an invitation to the general public to make further enquiries in regard to the product/s advertised, by way of access to the listed phone number, website and/or store visit.
2. Any decision by a consumer to purchase a product from OK! Cash Loans will be on the assumption, by OK! Cash Loans that, if responding to a OK! Cash Loans advertisement, the consumer has accepted that the advertisement is an offer to make further enquiries and the consumer has made all relevant enquiries beyond accepting the general statements included in the OK! Cash Loans advertisement.
3. OK! Cash Loans will make every endeavour to include relevant and truthful information in its advertising, but no advertisement shall be accepted by a consumer as including all the conditions associated with the purchase of the advertised product, or that the representation of a condition in any OK! Cash Loans advertisement is the entire detail of that condition, or that the representation of a condition in an advertisement implies any position of priority in the total conditions applying to the product advertised.
4. In the event that a consumer interprets the content of an advertisement to be different to the content of the OK! Cash Loans contract entered into, the contract content will prevail.
5. OK! Cash Loans seeks to offer competitive rates – fees, charges and interest – but does not guarantee or imply that, at all times, any rate is necessarily the cheapest in the consumer’s market place, nor attempt to match every competitor’s fees, charges and interest rates, if any.

Consumer’s duty to make reasonable enquiries

1. OK! Cash Loans expects the consumer to have attempted due diligence, by way of enquiry as to the conditions offered by other suppliers of the same product sought by the consumer and, as aconsequence and to that extent, any decision by a consumer to purchase a product from OK! Cash Loans shall be an informed one.
2. OK! Cash Loans expects the consumer to have made a thoughtful and researched decision as to the consumer’s needs and wants, in the context of an objective appraisal of the consumer’s lifestyle, before applying for a OK! Cash Loans product.

Loan Payment Refund Policy

1. Under general circumstances, refunds will not be issued for payments made against a loan product.

PRODUCTS

These specific terms and conditions are to be read in addition to the above General Terms and Conditions and relate to specific OK! Cash Loans product and/or service(s)

Consumer loans

1. At its absolute discretion, OK! Cash Loans may provide Small Amount Credit Contract (SACC) loans, generally from $300 up to $2,000 and for terms of 3 months to 12 months inclusive.
2. At its absolute discretion, OK! Cash Loans may provide Medium Amount Credit Contract (MACC) loans, generally from $2,001 up to $5,000 and for terms of 3 months to 24 months inclusive.
3. OK! Cash Loans will provide the net loan funds or principal by way of cheque, direct credit, and/or cash (singly or in combination), as may be agreed between the company and the consumer during the application process and in accordance with OK! Cash Loans conditions applying at the time.
4. For all internet consumers, OK! Cash Loans shall provide the net loan funds or principal by way of electronic transfer to the consumer’s nominated bank account, and/or cash (singly or in combination).
5. At its absolute discretion and with a commitment to efficiency and timely service, OK! Cash Loans reserves the right to take appropriate time, as it alone may determine as an Australian Credit Licensee under the National Consumer Credit Protection Act 2009, to fulfil the processes of application, mandatory responsible lending, suitability/unsuitability assessment and payment of loan funds by one or more of the means listed above.

Advances on future settlements

1. OK! Cash Loans advances on future settlements require that funds be secured on legal authority.
2. Due to the vast variety of consumer circumstances associated with advances on future settlements, each application will be considered on its own merits and in accordance with mandatory requirements and company policy, which may vary the applicable conditions from time to time, at the absolute discretion of OK! Cash Loans and as may be applicable between individual consumers, and between classes of consumers, and between stores.

Note: The above “General Terms & Conditions and Product Terms and Conditions” are provided by OK! Cash Loans to allow further understanding and/or clarification with regard to the products and/or services offered by OK! Cash Loans. OK! Cash Loans may modify any of the terms and conditions contained in this document, at any time at its sole discretion. Any modifications are effective upon posting of the revisions on the OK! Cash Loans website accessible in the Terms and Conditions section of the OK! Cash Loans website.

Personal Information and its importance

Personal information is information or an opinion about you from which your identity is apparent. Protecting your privacy is fundamental to the way we do business. This document sets out the way we will collect, store, use and share your personal information. It will also provide you with information about what you can do to access the personal information we have about you, the way you can have it corrected, if necessary, and what steps you can take to complain about any action taken by us in relation to the information.

The legal framework under which we deal with your personal information is set out in the Privacy Act, the 13 Australian Privacy Principles (contained in Schedule 1 to the Privacy Act) and the Privacy (Credit Reporting) Code made under the Privacy Act. These rules apply to information about individuals, not corporations.

You can choose to deal with us anonymously where it is lawful and reasonably practicable to do so.

Why we collect personal information

We collect personal information so that we can:-

1. accept and process your application for a loan in accordance with the requirements by law;
2. assess your personal and/or commercial creditworthiness;
3. make a determination about the risk of you defaulting on your obligations to us;
4. undertake, where appropriate, risk assessment and management involving securitisation, credit scoring, portfolio analysis, reporting and fraud prevention and claim recovery;
5. if your application is successful, provide you with a loan and determine on what terms we will do so;
6. manage your account with us;
7. assist in the resolution of any dispute you have with us;
8. provide you with information about other products or services we currently offer, or may offer in the future or are offered by our commercial partners;
9. in certain circumstances as disclosed in paragraph 6(l), sell your personal information, or to provide that information to others who might offer services to you, and
10. satisfy any obligation we may have under the law to collect personal information or make assessments.

We will not use personal information we have collected for a purpose other than that disclosed in this Privacy Policy without your consent, or in circumstances where you would reasonably expect the use for that purpose.

If you do not provide us with your personal information

If you do not provide us with your personal information or give us consent to collect it from others, we will be unable to, amongst other things, process your application and make the assessment that we are required to by law. We will therefore not be able to satisfy our internal and external obligations and will not be able to give you a loan.

Where we get personal information

We obtain personal information from any of the following sources:-

1. you in the process of your loan application or in other communication with you;
2. publicly available information such as telephone directories, information on websites or from public databases such as the electoral roll;
3. other credit providers from whom we request information;
4. credit reporting bodies, including obtaining a report at a time in the future if we believe it would be advantageous;
5. persons or entities you have authorised to provide us with information;
6. your use of our website with the aid of "cookies", and
7. marketing companies from which we may acquire information in order that we may offer services to you.

Where we obtain personal information which we are either required to collect, or authorised to collect by law, we will advise you of that fact.

Sensitive information

"Sensitive information" is information about your racial or ethnic origin, political opinions, membership of a political association, religious beliefs or affiliations, philosophical beliefs, membership of a professional or trade association or trade union, sexual preferences or practices, criminal record, health or genetic information.

We will not collect, use or disclose any sensitive information about you unless we have your specific consent, and it is necessary to undertake one of the functions referred to above.

Exchange of personal information

We may disclose your personal information to:-

1. such credit reporting bodies, ratings agencies and any business which provides information about the credit worthiness of persons with whom we have a commercial arrangement (more detail about this appears below);
2. other credit providers;
3. personal and/or business referees nominated by you, including your employer (in relation to your employment status and income);
4. our professional advisers, contractors and other service providers (eg. IT consultants);
5. your legal and financial advisers (if any) if permitted by you;
6. Centrelink, Australian Taxation Office or other Government departments, agencies or bodies, to whom we may be required by law to disclose information supplied by you to us;
7. our financiers;
8. our contractors, agents and service providers (including debt collectors) in order that we may deal with you more efficiently or collect monies owing to us;
9. our ASIC and OAIC approved external dispute resolution service;
10. payment system operators (if any);
11. our insurers, insurance underwriters/providers in relation to our insurance policies;
12. entities who may purchase (or who may be interested in purchasing) any interest in the obligations you may owe us under the credit contract, and entities (either credit licensees (credit providers or credit assistance providers) or lead providers) to whom we may sell your personal information for a fee. The credit licensees or lead providers may either provide a service to you themselves or on-sell your personal information to others on the same basis as your personal information is sold to them;
13. search agents and search system providers in relation to your residential information and other information in order to contact you, and
14. real estate agents and others to enable us to be advised of your current residential and other information held by them.

Overseas disclosure

We do not intend to disclose your personal information overseas, and cannot foresee any circumstance in which the need to do so might arise. We do acknowledge, however, that as part of our backup system, some of your information might be stored overseas (for example if we use "cloud storage"), but the information will not be available to be accessed by any person overseas.

Credit reporting

The Privacy Act allows credit providers to disclose some information to credit reporting bodies. The information which is disclosed depends on the level at which we participate in the credit reporting system. The credit reporting bodies are also bound by the Privacy Act and are restricted in the uses to which that information may be used. Each of the credit reporting bodies must have a policy, similar to this one, to explain how it uses your information.

The information we may disclose to a credit reporting body is the following:-

1. a. whether we provide you with a loan;
2. b. the type of loan provided;
3. c. the amount of the loan provided;
4. d. the date the loan was supplied;
5. e. the date the loan terminated;
6. f. the terms of the loan;
7. g. whether payments are made on the loan;
8. h. if you default in making a payment on the loan (subject to some default and time limits);
9. i. whether you were late in making payments and whether you make those payments up, and
10. j. if you commit a serious credit infringement (fraudulent activity or deliberately evading your obligations under the loan terms).

There is only one credit reporting body with whom we might deal. They are:-

• Equifax Pty Ltd (formerly Veda Advantage)
  Tel: 13 83 32
  Email: https://equifax.australiancreditdata.com.au/
  Web: https://www.mycreditfile.com.au/
  Mail: PO Box 964
  North Sydney NSW 2059

Access and correction

1. Access

   The Privacy Act provides that, subject to some exceptions, you have a right to know what information we hold about you including information we have obtained from a credit reporting bodies. If you wish to access the personal information we hold about you, including information we have obtained from a credit reporting body, you should make contact with us in any of the following ways:-

   Tel: (02) 9622 2295
   Email: contact@okcashloans.com.au
   Mail: 10A Westfield Place
   Blacktown NSW 2148

   It may be necessary for us to verify your identity before we can provide any information.

   We will usually be able to provide this information to you within 30 days of the request. Should we require longer, we will write to you advising you a reason and seeking additional time. We may require you to pay our reasonable costs of providing this information to you. There are restrictions in relation to those costs contained in the law.

   If possible, we will provide you with the personal information in the form you request. However, in some circumstances it may be necessary for you to access that information in a method determined by us, but we will always make it as easy as possible for you to access that information.

   There may be occasions where we cannot provide you with that information. In such a case we will write to you and give you our reasons.

2. Correction

   You can request that any personal information we hold be corrected if it is inaccurate, incomplete or out of date. If you wish to make such a request, you should contact us by any of the methods set out above.

   If your request relates to information that we have received from a credit reporting body, we will contact the credit reporting body and advise them of your request.

   If we agree with you that your information is inaccurate, incomplete or out of date we will make the appropriate changes and will write to you and tell you the changes we have made within seven days of making that change.

   If we do not agree that the information is inaccurate, incomplete or out of date, we will write to you giving you the reasons why we have formed the opinion and tell you what steps you can take as a result of our refusal to change the information.

3. Complaints

   You are entitled to complain if you believe we have not dealt with your personal information in accordance with the provisions of the Privacy Act (including the 13 Australian Privacy Principles) or any code under the Privacy Act (including the Credit Reporting Privacy Code).

   If you wish to make a complaint, you should first contact us telling us what the complaint is and we will do our best to resolve the complaint with you.

   If we believe that we cannot resolve the complaint within 30 days, we will write to you telling you why and seeking further time.

   If you are not satisfied with the resolution of the complaint, you have a right to refer the complaint to our external dispute resolution service, the Australian Financial Complaints Authority ("AFCA") or to the office of the Australian information Commissioner ("OAIC").

   The contact details of those two bodies are as follows:-

   Australian Financial Complaints Authority
   Phone 1800 931 678
   Fax (03) 9613 6399
   Mail GPO Box 3, Melbourne VIC 3001
   E-Mail info@afca.org.au
   Website https://www.afca.org.au/
   Complaint page: https://www.afca.org.au/make-a-complaint/

   Office of the Australian Information Commissioner
   Phone 1300 363 992
   Fax 02 9284 9666
   Mail GPO Box 5218, Sydney NSW 2001
   E-Mail enquiries@oaic.gov.au
   Website https://www.oaic.gov.au/
   Complaint form: https://www.oaic.gov.au/privacy/privacy-complaints/

   We have a written policy ("Dispute Resolution Policy") in place under which we deal with any complaint made under the provisions of the National Consumer Credit Protection Act. We are required to have that policy as part of our Australian Credit Licence. We can provide you with a copy of that policy on request.

   We will manage your complaint, so far as we are able, under the Dispute Resolution Policy. There will, of course, need to be some changes as a result of the type of complaint being made.