OurMoneyMarket Services Pty Ltd – Credit Guide

OurMoneyMarket Services Pty Ltd ACN 614 874 761 (“OurMoneyMarket Services”) is an authorised credit representative of OurMoneyMarket Lending Pty Ltd ACN 605 231 669 Australian Credit Licence 488228 (“OurMoneyMarket Lending”) under the National Consumer Credit Protection Act 2009 (Cth) (NCCP Act).  OurMoneyMarket Services provides credit assistance in relation to credit contracts offered by OurMoneyMarket Lending and other lenders.

In this Credit Guide, use of the terms we, our, and us means OurMoneyMarket Services.

Key information

Services provided by OurMoneyMarket Services

OurMoneyMarket Services provides credit assistance to individuals seeking loans by introducing them to OurMoneyMarket Lending Pty Ltd ACN 605 231 669, Australian Credit Licence 488228 (“OurMoneyMarket Lending”) and other lenders with whom we conduct business. We most commonly introduce customers to the following credit providers:

• OurMoneyMarket Lending Pty Ltd (ABN 64 605 231 669, ACL 488228)
• SocietyOne Australia Pty Ltd (ABN 44 151 627 977, ACL 423660)
• MoneyMe Financial Group Pty Ltd (ABN 40 163 691 236, ACL 442218)
• Latitude Personal Finance Pty Ltd (ABN 54 008 443 810, ACL 392163)
• Jacaranda Finance Pty Ltd (ABN 53 162 078 195, ACL 4‍5640‍4)
• NOW Finance Group Pty Ltd (ACN 158 703 612, ACL 425142)

We do this by first checking whether you meet certain preliminary lending criteria. If you meet the lender’s criteria, we may provide you with an indicative interest rate quote and offer you the option of submitting a loan application with them. If you do not meet OurMoneyMarket Lending’s lending criteria, we may refer you to one of our partner lenders, who may be able to assist you with your loan application. The specific partner cannot be determined at this time as it will depend on your individual circumstances and the products available.

When providing credit assistance, OurMoneyMarket Services will not suggest that you apply for a credit contract, or assist you to apply for a credit contract, that is unsuitable for you. Before providing credit assistance, we are required to make reasonable inquiries about your financial situation, requirements and objectives.

You have a right to request a copy of our preliminary assessment.  If you make such a request within 7 years of the date of the credit assistance quote, we will provide you with a written copy of the assessment free of charge. If your request is made within 2 years of the quote, we will provide the assessment within 7 business days of receiving your request. If your request is made after 2 years, we will provide the assessment within 21 business days of receiving your request. You can make a request by contacting us using the details provided above.

OurMoneyMarket Services is authorised on behalf of OurMoneyMarket Lending to provide credit assistance to consumers in relation to credit contracts, including suggesting or assisting consumers to apply for personal loans with OurMoneyMarket Lending.

Fees payable by you

We do not charge you any fee or other amount if you obtain a loan through OurMoneyMarket Lending. However, if you are deemed suitable to apply for a loan with OurMoneyMarket Lending, we recommend you review their credit guide as fees and charges may be payable on their loan products.

If you are provided with a loan by one of our partner lenders, fees and charges may be payable to us for credit assistance. If a fee is payable by you, this will be disclosed in a Credit Quote that will be provided to you. If a Credit Quote is not supplied, this means that there are no fees payable by you to us. You may obtain from us information about the amount, how the fees and charges are payable, how such fees and charges are worked out, and any other information that you want to enquire about.

Commissions received by OurMoneyMarket Services

We do not receive any fees, commissions or other indirect remuneration if you obtain a loan through OurMoneyMarket Lending.

If you are provided with a loan by one of our partner lenders, we may receive a commission based on several factors including the amount of your loan. We may also receive additional commission based on the volume of business that we refer to our partner lenders (this is known as a volume bonus arrangement). The amount of any such commission will depend on the partner lender and the nature of your loan, and is not ascertainable at this time but you may request a reasonable estimate of the commission and how it is worked out by contacting us.

Fees payable by OurMoneyMarket Services to third parties

We do not pay fees, commissions or other indirect remuneration to any third parties for the introduction of credit business.

Our internal dispute resolution process

We hope you are delighted with our services, but if you have any complaints or concerns, please contact our Complaints Officer using the contact details listed above. We will acknowledge your complaint promptly and in any event within 24 hours (or one business day) of receiving it, or as soon as practicable.

You should explain the details of your complaint as clearly as you can. You may do this verbally or in writing.

When we receive a complaint, we will attempt to resolve it promptly and fairly. We aim to provide you with a response within 30 calendar days of receiving your complaint. For complaints involving default notices, hardship notices or requests to postpone enforcement proceedings, we will respond within 21 calendar days. If we are unable to resolve your complaint within these timeframes, we will notify you of the delay and inform you of your right to escalate the complaint to AFCA.

Our external dispute resolution scheme

If you are not satisfied with the outcome of our internal dispute resolution process, or if we do not respond to your complaint within the applicable timeframe, you may refer your complaint to the Australian Financial Complaints Authority (AFCA) using the contact details listed above. AFCA provides a free and independent external dispute resolution service.

You can obtain further details about our dispute resolution procedures on request. Our privacy policy is available on our website or on request.

Things you should know

We don’t provide legal or financial advice. It is important you understand your legal obligations under the loan, and the financial consequences. If you have any doubts, you should obtain independent legal and financial advice before you enter any loan contract.

Questions?

If you have any questions about this credit guide or anything else about our services, just ask at any time by contacting us using one of the methods set out above.