When you trust Alex Bank Pty Ltd (ABN 13 627 244 848, Australian Financial Services Licence and Australian Credit Licence 510805) and its related bodies corporate (Alex, we, us or our) with your personal information, you expect us to protect it and keep it safe. We are bound by the Privacy Act 1988 (Cth) (Privacy Act) and will protect your personal information in accordance with the Australian Privacy Principles set out in the Privacy Act. The Australian Privacy Principles govern how we can collect, use, hold and disclose your personal information, as well as ensuring the quality and security of your personal information.
Here are a few principles to keep in mind as you read through this policy:
Email – you can email us at firstname.lastname@example.org; or
Phone – you can call us on 1300 738 453.
Our Credit Reporting Policy is here. This policy provides information on our management of your credit information and contains information about:
“Personal information” includes any information or opinion, about an identified individual or an individual who can be reasonably identified from their information. The information or opinion will still be personal information whether it is true or not and regardless of whether we have kept a record of it. Personal information includes sensitive information and credit reporting information which are subject to additional protections under the Privacy Act.
The information that we seek to collect about you will depend on the products or services that we provide. If you do not allow us to collect all of the information we request, we may not be able to deliver those products and services to you.
We collect personal information from existing and prospective customers, consumers and other individuals for the purposes set out in this policy.
We may collect personal information from you in the following ways:
We may also collect personal information about you indirectly from other people or organisations. This may happen without your direct involvement. For instance, we may collect personal information about you from third party sources, including:
Personal information that we collect may include (but is not limited to) the following:
Throughout the life of any product or service you obtain from us, we may also collect and hold additional personal information about you and your use of our product or service. This could include transaction information or records of queries or complaints you make.
From time to time, the Personal information we collect may include sensitive information. This may include health information required to assess any financial hardship status relevant to your credit application, as well as any relevant information about your religion, racial or ethnic origin, political opinions, criminal record, sexual orientation and biometric information (including photo and video identification). We only collect this sort of information if it is necessary to provide you with a specific product or service and you have consented to that collection. For example, we may collect financial hardship information and identity document information about you to process a credit application or collect voice bio-metric information to verify your identity and authorise transactions.
You do not have to provide us with any personal information. However, if you do not do so, this may limit our ability to fulfil the applicable purpose for collection and the assistance we are able to provide you. For example, we may not be able to consider or process an application you have made, or provide a product or service you have requested.
The main reason we collect, use, hold and disclose personal information for the following purposes:
As permitted by applicable law, we may also use your information for marketing and promotional purposes. See ‘Do we use or disclose personal information for marketing?’ below for more details.
We are required or authorised to collect:
We will take active steps to ensure that the personal information we hold is accurate, up-to-date and complete. We will remind you from time-to-time to keep personal information up-to-date and will update our records promptly.
Much of the information we hold about you will be stored electronically in secure data centres which are located in Australia and owned by either Alex or external service providers. Information that we collect may from time to time be stored, processed in or transferred between parties located in countries outside of Australia. See “Do we disclose personal information overseas?” section below for more detail.
Some information we hold about you will be stored in paper files. We use a range of physical and electronic security measures to protect the security of the personal information we hold and protect it from misuse, interference, loss and unauthorised access, modification and disclosure. For example:
We take reasonable steps to destroy or permanently de-identify any personal information after it can no longer be used for the purposes for which it was collected.
We may share your personal information with our related bodies corporate and other companies within the Alex group of entities.
The third parties we may disclose your personal information to include:
We may also disclose your personal information to others outside Alex where:
We may disclose your personal information including your credit information or credit eligibility information to a recipient which is located outside Australia. In particular, your personal information including your credit information or credit eligibility information may be disclosed to third parties located in the United States, Hong Kong, Singapore, Taiwan, Finland, Belgium, Ireland, Chile, Hungary and the Netherlands. This includes information which we are legally required to store such as personal identification information for anti-money laundering and counter-terrorism financing laws, and our Australian Credit Licensing responsibilities in relation to your loans.
Before we disclose any personal information including any credit information or credit eligibility information to an overseas recipient, we will make sure that all personal information is controlled and protected by the recipient in a way that is equivalent to the protections provided under the Australian Privacy Principles.
As permitted by applicable law, we may send you, from time to time, information about us or about products or services that we believe may be of interest to you, including advertising and promotional material relating to Alex, our related entities or our preferred suppliers by means of mail, telephone and electronic messaging (such as email and SMS messages).
We will use your personal information to offer you products and services we believe may interest you. These products and services may be offered by a member of the Alex Group or one of its preferred suppliers. We may offer you products and services on an ongoing basis and by various means, including by mail, telephone, email, SMS or other electronic means such as through social media or targeted advertising via Alex Group or non-Alex Group websites. We may also disclose your personal information to companies outside the Alex Group who assist us to market products and services to you. When we market products and services to you, we will comply with applicable privacy and anti-spam laws to obtain your consent if required. If you don’t want to receive marketing offers from us, you may choose to unsubscribe by contacting us or choosing the option to opt-out when you receive the marketing offer.
Along with the Australian Privacy Principles, we will comply with the Spam Act 2003 (Cth) as well as the Do Not Call Register Act 2006 (Cth) in undertaking all marketing activities.
Alex and other third party service providers (such as Google Analytics) may also use digital technologies such as data analytics, cookies, server logs, cloud service logs and web beacons in connection with Alex’s website and other online services to collect information from you electronically.
Each time you visit our website, we collect information about your use of the website, which may include the following:
Alex will take reasonable steps to make sure that the personal information we collect, use or disclose is accurate, complete and up to date.
You may request access to and correction of the personal information we hold about you. To do so, please contact us using the contact information set out above.
At your request, Alex will provide you with a copy of any personal information which we hold about you, unless an exception under the Privacy Act or other applicable legislation applies which means we are not required or permitted to provide you with that information.
If we correct personal information which has been disclosed to us by another person or organisation, you may also request for us to notify that other person or organisation of the correction.
There is no fee payable for requesting to correct your personal information or for us to make corrections. However, in processing your request for access to your personal information, a reasonable cost may be charged. This charge covers such things as locating the information and supplying it to you.
We will respond to any request for access or correction within a reasonable period after the request is made. Access to personal information will be given in the format requested by you, given it is reasonable and practicable for us to do so.
If you are concerned about how your personal information is being handled or if you have a complaint about a breach by us of the Australian Privacy Principles, please contact us using the details provided in the “Access to and correction of personal information” above.
We will acknowledge your complaint as soon as we can after receipt of your complaint and will let you know if we need any further information from you to resolve your complaint.
We aim to resolve complaints as quickly as possible. While we strive to resolve complaints within five business days, some complaints take longer to resolve. If your complaint is taking longer to resolve, we will let you know what is happening and a date by which you can reasonably expect a response.
If you are unhappy with our response, there are other bodies you can go to.
The Australian Financial Complaints Authority (AFCA) can consider most privacy complaints involving providers of financial services.
AFCA can be contacted at:
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Phone: 1800 931 678
Under the Privacy Act you may complain to the Office of the Australian Information Commissioner (OAIC) about the way we handle your personal information. The Commissioner can be contacted at:
Office of the Australian Information Commissioner
GPO Box 5218
Sydney NSW 2001
Phone: 1300 363 992
The Privacy Act now includes a Notifiable Data Breaches (NDB) scheme which requires us to notify you and the OAIC of certain data breaches and recommend steps you can take to limit the impacts of a breach (for example, a password change).
The NDB scheme requires us to notify about a data breach that is likely to result in serious harm to affected individuals. There are exceptions where notification is not required. For example, where we have already taken appropriate remedial action that removes the risk of serious harm to any individuals.
If we believe there has been a data breach that impacts your personal information and creates a likely risk of serious harm, we will notify you and the OAIC as soon as practicable and keep in close contact with you about the nature of the breach, the steps we are taking and what you can do to reduce the impacts to your privacy.
If you believe that any personal information we hold about you has been impacted by a data breach, you can contact us using the contact details on the front page of this policy.
Alex Bank Pty Ltd ABN 13 627 244 848 ("Alex"), Australian Financial Services Licence and Australian Credit Licence 510805, is authorised by the Australian Prudential Regulation Authority ("APRA") to operate under a time-limited and restricted Banking Authority. Further information regarding Alex's restricted Banking Authority is available at www.alex.bank/legal
The information on our website is general advice only, prepared without taking into account any of your individual objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Loan applications are subject to credit approval. Interest rates are subject to change. Fees and charges may apply.
The Canstar 5-Star Rating was awarded on 5th November 2020 for the Unsecured Personal Loan - Excellent Credit product for the Unsecured Personal Loan profile.
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