Bank Feed Terms

1. Consideration

• In consideration for your agreement to be legally bound by these Terms and Conditions, Fundency Pty Ltd (we or us) agrees to consider your application for credit.
• Nothing in these Terms and Conditions constitutes an agreement by us to provide credit to you.
• Phone numbers.
• Email addresses.
• Employment details, pay slips and income statements.
• Bank account details and account statements.
• Drivers’ licence details.
• Marital status and dependents.
• Financial and credit information, including: details of assets, liabilities, income, expenses; information about consumer credit liabilities, such as the name of an entity that has provided you with credit, the date of the credit was provided and the maximum amount of credit made available. This information may also include the following.
• Information about your repayment history, such as whether you were late in making a monthly repayment and when repayments were due.
• The type and amount of credit you have applied for.
• Whether you are 60 days or more overdue in making a repayment of $150 or more and whether you have repaid overdue amounts.
• Information about new credit arrangements you have entered into as a result of defaulting on repayments.
• Information about court judgements against you in relation to credit that has been provided to you.
• Publicly available information that relates to your credit worthiness.
• Information recorded in the National Personal Insolvency Index about you.
• Our opinion as to whether you have committed a serious credit infringement in relation to consumer credit we provided to you.
• Any other personal information that may impact our assessment of your credit worthiness.
• Any other information that is relevant to the services that we provide.
• On the occurrence of any of the following events:
• The number of complaints to AFCA in relation to SACCs or MACCs exceeding 0.5% of the number of SACCs or MACCs entered into in any calendar month.
• The number of internal complaints made by consumers in relation to SACCs or MACCs exceeding 1% of the number of SACCs or MACCs entered into in any calendar month.
• The receipt of more than one letter from ASIC or any regulator in relation to the method of the provision of SACCs or MACCs in any calendar month.

2. Our Authority

• You agree that we may perform the following activities in relation to your Bank Account:
• Collect and store the login credentials for your Internet Banking Facility.
• Log in to your Internet Banking Facility as your agent using the login credentials you provide to us.
• Access information about your Bank Account available in your Internet Banking Facility, including but not limited to:
• Account details – BSB, account number.
• Account balances.
• Transaction history.
• Account statements.
• Accountholder names.
• Accountholder telephone numbers.
• Accountholder email addresses.
• Store information about your Bank Account on our information systems for as long as reasonably necessary to enable us to carry on our business.
• Use information obtained about your Bank Account to decide whether or not to provide credit to you.
• You acknowledge and agree that we act as your agent in performing the activities in clause 1.
• We will store your login credentials securely in an encrypted format. Whilst we will take reasonable steps to ensure that your login credentials will be protected from misuse, interference and loss and from unauthorised access, modification or disclosure, we accept no liability for any loss or damage suffered by you as a result of misuse, interference or loss or unauthorised access, modification or disclosure of your login credentials.
• Using your Bank Account electronically by Internet Banking Facility is typically covered by the ePayments Code. If the provider of your Bank Account is a subscriber to the ePayments Code, you have rights and obligations in respect of sharing your Internet Banking Facility login credentials. As such, by using the Bank Feed Provider's service, there is a risk that your rights under the ePayments Code may be affected. Your Bank Account provider may not necessarily endorse us accessing your Internet Banking Facility, and/or you may be liable for any unauthorised access or fraudulent activity on your account. You should check with your Bank Account provider if you have any concerns about this.
• You acknowledge that providing your login credentials for your Internet Banking Facility to us may affect your rights under the ePayments Code. We are not liable for any diminution in your rights under the ePayments Code resulting from actions taken pursuant to these Terms and Conditions, or any loss or damage resulting from any diminution in your rights under the ePayments Code.

3. Warranties

• You warrant to us that:
• You are entitled to conduct transactions on any Bank Account that you provide information to us about.
• You are entitled to access any Internet Banking Facility for which you supply login credentials to us.
• By agreeing to be bound by these Terms and Conditions and/or acting pursuant to these Terms and Conditions, you are not breaching any contract with another person that you are party to.
• Any information that you provide to us under these Terms and Conditions is accurate and complete.
• You make the warranties in clause 1 immediately before agreeing to be bound by these Terms and Conditions and continuously at all times whilst we are providing the Basiq Service to you.
• You acknowledge that we act in reliance on the warranties in clause 1 in entering into this contract with you.

4. Term and termination

• You agree to be bound by these Terms and Conditions from the time that you provide the login credentials to your Internet Banking Facility to us until the later of the following:
• We have decided to not provide credit to you.
• We have ceased holding information about your Bank Account.
• We terminate this contract in accordance with clause 2.
• We may terminate this contract at any time by giving you notice that we have destroyed all information about your Bank Account and your Internet Banking Facility login credentials. Termination under this clause 2 takes effect immediately after we give you the notice referred to in the immediately preceding sentence.
• All rights of termination provided under this clause 4 are in addition to any rights of termination available under law.

4. Confidentiality and intellectual property

• You retain ownership of any information that you supply to us in connection with these Terms and Conditions.
• However, you grant to us a perpetual, irrevocable and royalty-free licence to use the information for our benefit in connection with:
• Providing products and services (including credit) to you.
• Performing our obligations under these Terms and Conditions.
• Maintaining the security of information held by us in connection with these Terms and Conditions.
• Developing and testing our products and services.
• Performing our obligations under contracts entered into with other persons.
• Including the right to copy, distribute, transit, reproduce, edit, translate and reformat the information and to sub-license any person to do the same.
• Nothing in these Terms and Conditions gives or transfers to you any interest in any of our intellectual property or goodwill.
• You must not take action which could adversely affect the value of our intellectual property rights.
• Notwithstanding any other clause in these Terms and Conditions, obligations under this clause 5 continue in force after termination of this contract.

6. Changes to these Terms and Conditions

• We may amend these Terms and Conditions at any time by providing you with one week prior notice of the change.
• We need not give prior notice of any change to these Terms and Conditions if we reasonably believe that the change will confer a benefit on you or lessen your obligations under these Terms and Conditions.
• We must act reasonably in exercising our rights under clause 1. we are taken to be acting reasonably if we amend these Terms and Conditions:
• To comply with any change or anticipated change in any applicable law, code of practice or regulatory guidance.
• To reflect any decision of a court or tribunal.
• To reflect a change in our systems or procedures, including for security reasons.
• In a manner that confers a benefit or lessens our obligations under these Terms and Conditions.
• To make the provisions of these Terms and Conditions clearer.

7. Indemnity

• You must indemnify us against all loss, damage, expenses or costs incurred, including any reasonable legal costs incurred in investigating and contesting any claim, as a result of:
• Any exercise by us of our rights under these Terms and Conditions.
• A breach of these Terms and Conditions by you.
• Any other criminal or civil wrongdoing by you.
• whether the act or omission in question is intentional or negligent, dishonest or otherwise. For the avoidance of doubt, loss or damage includes indirect loss or damage, consequential loss or damage and pure economic loss or damage.
• If a claim is made against us in respect of which we are entitled to be indemnified under clause 1, we will:
• Notify you of the claim.
• Consult with you in relation to the claim.
• Not settle or make any adverse admission without your prior written consent.
• The indemnity in clause 1 survives termination of these Terms and Conditions.

8. Limitation of liability

• We are not liable for any loss suffered by you or a third party as a result of:
• Any act or omission by us in connection with these Terms and Conditions, whether intentional, negligent or otherwise
• Exercise of any right by us under these Terms and Conditions or under any law.
• Where we are subject to any liability that may not be lawfully excluded, that liability is limited to the maximum extent permitted by law.

9. General

Notices

• We may provide any notice, demand, consent or other communication required or permitted to be made in writing under these Terms and Conditions by:
• Sending it to an email address that we reasonably believe is controlled by you.
• Publishing it on our website.
• You are taken to have received any notice or demand given in accordance with clause 1:
• When it is delivered to your email inbox.
• One business day after it is published on our website.

Privacy

• You agree that we may collect and deal with personal information about you in accordance with the Privacy Act, any Privacy Policy we have in force from time to time and any Collection Statement that we have provided to you.

Waiver

• A right under these Terms and Conditions may only be waived in writing, signed by the party waiving the right.
• A failure to exercise, or delay in exercising, a right does not operate as a waiver of the right or otherwise prevent future exercise of the right.
• A waiver of a right on one or more occasions does not operate as a waiver of that right if it arises again.
• The exercise of a right does not prevent any further exercise of that right or any other rights.

Assignment

• You may not assign your rights under these Terms and Conditions without our prior written consent, which we must not unreasonably withhold.
• We may assign our rights under these Terms and Conditions to any related body corporate of ours or to any purchaser of our business. We will notify you as soon as practicable if we assign our rights under these Terms and Conditions.

Governing law and jurisdiction

• These Terms and Conditions are governed by the laws in force in the State of New South Wales.
• You agree to submit to the exclusive jurisdiction of the courts of New South Wales, including any courts exercising appellate jurisdiction from the courts of New South Wales, in respect of any disputes arising in connection with these Terms and Conditions.

10. Definitions and interpretation

Bank Account means a deposit account, purchased payment facility or other facility held by you from which electronic payments can be made.

Collection Statement means any document given by us providing information in relation to our collection, use and disclosure of personal information collected about you.

Internet Banking Facility means a facility, accessible via the internet, through which you can access the transaction history of, obtain statements for or make payments from your Bank Account.

Privacy Policy means our Privacy Policy, if any, maintained in accordance with Australian Privacy Principle 1.3 means our Privacy Policy, if any, maintained in accordance with Australian Privacy Principle 1.3

These Terms and Conditions means the contract between you and us, the terms of which are set out in this document, and

This contract means these Terms and Conditions.

• A reference to:
• Any thing includes the whole and each part of it.
• A document includes any variation or replacement of it.
• Law means common law, principles of equity, and laws made by parliament (and laws made by parliament include regulations and other instruments under them, and consolidations, amendments, re-enactments or replacements of them).
• Headings are for convenience only and do not affect the interpretation of these Terms and Conditions.
• The words including, such as or for example when introducing an example do not limit the meaning of the words to which the example relates to that example or examples of a similar kind.
• The word person includes an individual, a firm, a body corporate, an unincorporated association or an authority.
• The singular includes the plural and vice versa.
• The following interpretation rules apply to this agreement.
• A provision of these Terms and Conditions must be read down if it is able to be read down.
• The provision, or these Terms and Conditions, is void, voidable or unenforceable if it is not read down.
• The provision, or these Terms and Conditions (as applicable), will not be void, voidable or unenforceable if the provision is read down.
• A provision of these Terms and Conditions must be severed if, despite being read down in accordance with clause 3(a), the provision or these Terms and Conditions is void, voidable or unenforceable if the provision is not severed.
• The other provisions of these Terms and Conditions remain in full effect despite the reading down or severance of any provision in accordance with this clause 3.