Credit Guide
The following are essential details covered in this Credit Guide:
- Our identity and contact information for easy communication.
- Our primary responsibilities and requirements before proceeding with a credit contract.
- The steps to take in the event of a complaint and our approach to resolving them efficiently.
ABOUT US
We are a licensed credit provider under the National Consumer Credit Protection Act 2009,
and holder of Credit Representative CRN 549460 of Australian Credit Licence 492775
PayFaster Pty Ltd
Trading as “Cashfaster”
ABN (“we”, “us”, “our”).
Website: www.cashfaster.com.au
Address: 302 Burwood Road, Hawthorn VIC 3122. POSTAL ADDRESS PO BOX 2224
Email: contact@cashfaster.com.au
OUR OBLIGATIONS AND YOUR RIGHTS
ASSESSMENT OF UNSUITABILITY FOR A CREDIT CONTRACT
As Cashfaster is a responsible lender, we have certain obligations to ensure that the credit contract we offer is suitable for you. Before we can provide credit, we are required to assess whether the proposed contract is “not unsuitable.” To do this, we must make reasonable inquiries to determine whether the loan will meet your requirements and objectives and whether you will be able to make the proposed repayments. If our assessment shows that you will experience substantial hardship in meeting the repayments or that the loan will not meet your objectives and requirements, we will be unable to offer you credit.
We are also required to take reasonable steps to verify your financial situation, which may require you to provide us with certain documents. We understand that this process may seem cumbersome, but it is necessary to ensure that you are not placed in a position of financial hardship by the credit contract. As a responsible lender, we take our obligations to you seriously and are committed to ensuring that the credit we offer is suitable for your needs.
REQUESTING A COPY OF OUR ASSESSMENT
At any point before or within 7 years of the date of the credit contract, you have the right to request a written copy of our assessment without incurring any fee. If you request to review our assessment within the first two years of the credit contract, we will furnish you with a written copy within 7 business days after receiving your request. If you make the request after two years, we will provide you with a written copy within 21 business days after receiving your request.
CHARGES AND FEES
We will charge fees in relation to the provision of credit to you. The standard fee charged is an Establishment Fee (charged at the settlement of your loan). Along with a monthly account service fee. Additional fees may apply if you miss any required loan repayments. Full details of these fees will be disclosed in the credit contract issued to you on approval of your loan application.
COMPLAINTS OR DISPUTES
If you have any concerns or complaints about our services, please let us know so that we can work towards a solution. Our goal is to deal with complaints promptly, thoroughly, and fairly. Here’s how to make a complaint and what you can expect from the complaints process:
- The first step is to contact our complaints team by emailing complaints@cashfaster.com.au.
- We may ask you for additional information and request that you submit your complaint in writing so that we can investigate the issue thoroughly.
- If your complaint cannot be resolved immediately, we will keep you informed of its progress and provide regular updates until it is resolved.
KEEPING YOU UPDATED
Upon receipt of your complaint, our complaints team will acknowledge it within one business day. If we are unable to resolve the matter to your satisfaction within 10 business days, we will send you a letter outlining the procedures we will undertake to investigate and address your complaint. We will provide you with an outcome of the investigation within 30 calendar days from the date on which you lodged the complaint with us. In this communication, we will inform you of our decision and the reasons behind it. In the event that we require more time to complete the investigation, we will inform you of the same.
STILL NOT HAPPY
If you are not satisfied with the outcome of our complaint resolution process, you have the option to escalate the matter to the relevant External Dispute Resolution Scheme at no cost to you, provided it falls within the scheme’s terms of reference. However, if our internal process is still underway, the External Dispute Resolution Scheme may request that our internal processes be completed before further considering the matter. Our designated External Dispute Resolution Scheme provider is the Australian Financial Complaints Authority, which you can contact through the following details:
Our External Dispute Resolution Scheme provider is the Australian Financial Complaints Authority, which can be contacted via:
Phone number: 1800 931 678
Website: www.afca.org.au
Mail: GPO Box 3, Melbourne Vic 3001
Email: info@afca.org.au
PRIVACY
In order to provide our services, we will need to collect your personal information. However, we will only collect and use the minimum amount of information required to provide you with the finance you need. As a responsible financial services provider, we are dedicated to safeguarding the confidentiality and security of your personal information and complying with the Privacy Act 1988 (Cth). You can find the details of our privacy practices in our Privacy Policy, which is available on our website at www.cashfaster.com.au/privacy.
Please note that if you do not provide some or all of the requested personal information on our application form, we may not be able to process your application and provide you with a loan. We will not share your personal information with any third party, except in accordance with our Privacy Policy. We will always maintain control over the confidentiality of your personal information.
PAYMENTS
We ONLY accept the following payment methods for repayment of our loans:
- Debit Card
- PayID
- Direct Debit