Applies to all individual borrowers and individual guarantors. It also applies to you if you are an Office Bearer* of the borrower
We collect personal information from you to process your application, provide you with your product or service, and manage your product or service. We may also use your information to comply with legislative or regulatory requirements in any jurisdiction, prevent fraud, crime or other activity that may cause harm in relation to our products or services and help us run our business. We may also use your information to tell you about products or services we think may interest 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.
If you are a proposed guarantor, we collect your personal information in order to assess you as a guarantor, take a guarantee from you and administer that guarantee. If you do not provide all the information we request, we may be unable to accept you as a guarantor.
* An office bearer includes a director of a company, partner in a partnership, trustee of a trust, chairman, secretary or treasurer of an association or co-operative.
We may disclose your personal information to other members of the Westpac Group, anyone we engage to do something on our behalf, lenders mortgage insurers, your broker or any other person acting on your behalf, other loan parties, and other organisations that assist us with our business.
As a provider of financial services, we have obligations to disclose some personal information to government agencies and regulators in Australia, and in some cases offshore. We are not able to ensure that foreign government agencies or regulators will comply with Australian privacy laws, although they may have their own privacy laws. By using our products or services, you consent to these disclosures.
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.
If you have made your application or have been introduced to us through a broker or other intermediary, we may exchange credit information and other personal information about you with them. We may also communicate with them directly in relation to your application instead of communicating with you.
The privacy page of our website westpac.com.au includes a “Statement of Notifiable Matters”. These are matters you should be aware of in relation to the use and disclosure of your credit information. This statement includes:
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 on our website at www.westpac.com.au/privacy/EUDataProtectionPolicy for information about how we manage your personal data under the GDPR.
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 1300 725 863.
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.
If your application was provided to us by a broker, agent, or other introducer (Introducer), you authorise that Introducer to be your authorised agent, to do any of the following during the term of the facility:
If your application is referred for further assessment or declined, you request us to disclose credit eligibility information about you to the Introducer, as your authorised representative. This includes information from your credit report and any information we derive from your credit report.
You can revoke this authority at any time by calling 132 032.
The Introducer has no authority to act on our behalf in any capacity.
We may, in our absolute discretion, communicate or otherwise deal with you directly in relation to any matter concerning the loan application.
You acknowledge that, before signing this document, the Introducer informed you that we may pay them commission if the application is approved and the facility drawn. The Introducer also informed you that the amount of commission (if any), to the extent that it is ascertainable, will be disclosed in your facility documentation. We may periodically disclose to the Introducer your facility account number and account balance for the purpose of allowing the Introducer to verify our commission payments to them.
Where you have provided information about another individual, you must make them aware of that fact and the contents of the Privacy Statement.
Your application is not an offer or acceptance of credit.
We will use or disclose your personal information to contact you or send you information about other products and services offered by the Westpac Group or its preferred suppliers. Please call us on 132 032 or visit any of our branches if you do not wish to receive marketing communications from us.