Your privacy is important to us. We comply with the Australian Privacy Principles (APPs) and the credit provider provisions of the Privacy Act 1988 (Cth) (together the Privacy Act).
This statement sets out how Westpac Banking Corporation ABN 33 007 457 141 Australian Credit Licence and AFSL 233714 may use your personal information, whether collected from you or from any other source, and what personal information we may obtain about you with or without your agreement. This statement applies to all individual applicants and individual guarantors. It also applies to you if you are an Office Bearer* of the applicant.
This document contains important consents that you give to us. You should therefore read this document carefully before agreeing to it.
We collect and use your information for the following purposes:
- To process your application (including evaluating your creditworthiness, or deciding whether to accept you as a guarantor);
- To comply with legislative or regulatory requirements in any jurisdiction. In some instances, these agencies and regulators are offshore or overseas, and in those cases, and for Australian agencies, we cannot control whether such agencies or regulators comply with Australian privacy laws. By using our products or services, you consent to these disclosures;
- Provide you with your product or service (including a guarantee), and/or manage your product or service, or to tell you about products or services we think may interest you;
- To detect and prevent fraud, crime or other activity that may cause harm to you or us in relation to our products or services and help us run our business;
- To develop insights and conduct data analysis, carry out predictive analytics, risk management, understand preferences to tailor digital content, and to ensure increased productivity and efficiency across product and service offerings
- Marketing products and services provided by us and our related entities.
We may disclose, and you consent to the disclosure of, your personal information to:
- Other members of Westpac Banking Corporation ABN 33 007 457 141 and its related bodies corporate (Westpac Group), anyone we engage to do something on our behalf, or other organisations that assist us with our business, including for the purposes listed above; or
- Any other person acting on your behalf, other loan parties, or other organisations you have engaged to do something on your behalf or provide services related to the credit applied for (including e.g. insurers), to assist with the provision of any services and products, whether financed by us or not, including for the purposes listed above;
- Any entity which supplies the products or services acquired with credit provided by us;
- Trade insurers or any other business credit insurer;
- Any person considering acquiring an interest in our business or assets; or
- Any organisation providing online verification of your identity
In addition to the information provided by you, you authorise us to obtain personal information about you, under the Freedom of Information Act, from any motor vehicle or drivers’ licence registry in Australia whilst any liability is outstanding to us without reference to you.
If you do not provide all the information we request, we may need to reject your application, or we may no longer be able to provide a product or service to you.
- Obtain consumer credit information about you from a credit reporting body to enable us to assess your creditworthiness;
- Obtain information about your commercial activities or commercial creditworthiness from a business which provides information about the commercial creditworthiness;
- Exchange personal information and credit information about you with other credit providers to assess your application and creditworthiness and to notify them of any defaults by you;
- Disclose credit information and other personal information held by Westpac Group about you to a guarantor or to a proposed guarantor for the purpose of them considering whether to offer to act as guarantor, as required by the Australian Banking Association's Banking Code of Practice or otherwise as permitted by law;
- Give or obtain a banker's opinion about you; or
- If you are a proposed guarantor, obtain credit reporting information about you from a credit reporting body for the purpose of assessing whether to accept you as a guarantor.
To ensure we are meeting our requirements and to allow the most up-to-date information to be considered as part of the application process, we may do any or all of these things on one or more occasions.
Privacy and Credit Reporting Policies
- How you can access the personal information we hold about you and ask for it to be corrected;
- How you may complain about a breach of the APPs or a registered privacy code and how we will deal with your complaint;
- Details of the offshore and overseas locations where your information may be disclosed;
- Details of the laws which govern the requirement or authorisation for us to collect your personal information; and
The privacy page of our website includes a copy of our credit reporting policy (here) and a copy of our “Statement of Notifiable Matters” (here), both of which form part of this Privacy Statement. These are matters you should be aware of in relation to the use and disclosure of your credit information. This statement includes:
- Details of the credit reporting bodies to which we are likely to disclose your credit information, the types of credit information we may give them and how this information will be used;
- Your rights over your credit information, including how you can access and correct your information and make complaints;
- Your rights to direct a credit reporting body to limit the use of your information for direct marketing purposes and what protections are available if you believe you are a victim of fraud; and
- Information about our Credit Reporting Policy.
For customers located in the European Union
The General Data Protection Regulation (GDPR) regulates the collection, use, disclosure, or other processing of personal data under European Union (EU) law. Our collection, use, disclosure, and other processing of your personal data may also be regulated by the GDPR.
Please refer to our EU Data Protection Policy (here) or on our website at westpac.com.au for information about how we manage your personal data under the GDPR. The EU Data Protection Policy also forms part of this Privacy Statement.
Our reporting obligations
We are required under domestic and international laws to collect and report financial and account information relating to individuals and organisations that are, or may be, foreign tax residents. We may ask you whether you or any shareholder, beneficiary, settlor or controlling person are a foreign tax resident from time to time, such as when you open an account with us, or if your circumstances change. If you do not provide this information to us, we may be required to limit the services we provide to you.
Unless you tell us otherwise, by completing any application, you certify that any shareholder, named beneficiary, settlor or controlling person is not a foreign tax resident. You must tell us if you, or any shareholder, named beneficiary, settlor or controlling person is, or becomes, a foreign tax resident (unless an exemption applies, such as for shareholders of listed companies). Where there are no named beneficiaries (e.g. for beneficiaries identified only as a class) you must tell us if a beneficiary is a foreign tax resident immediately when any decision is made to identify and make a distribution to them. You may contact us to provide foreign tax residence information by calling 132 142.
We cannot give tax advice, so please contact your independent tax advisor if you need help finding out whether any person is a foreign tax resident.
You agree to receive any communications from us via electronic means. By agreeing to this you acknowledge:
- You may not receive further paper documents;
- You must check the email address you provide regularly for further notices and communication; and
- That you can withdraw this consent at any time.
- If you want to withdraw your consent to receiving any communication by electronic means, please contact us on 132 142.
If your loan is approved:
- We may use or disclose your personal information to identify and contact you or send you information about other products and services offered by the Westpac Group or its preferred suppliers;
- You consent to us (and anyone we engage) using this information to carry out predictive analytics, risk management, and to ensure increased productivity and efficiency across their product and service offerings; and
- You consent to us contacting you about products and services we offer by sending you marketing communications (including by phone, electronic message or any other delivery method) for this purpose.
You may ask us at any time to stop sending you marketing communications by contacting us on 132 142 or visiting any of our branches. We will comply with your request within a reasonable period.
Things you should know
*An office bearer includes a director of a company, partner in a partnership, trustee of a trust, chairman, secretary or treasurer of an incorporated association or co-operative.