Privacy Policy – Beneficial Brokers
Business Name: Beneficial Brokers
Phone: 0493 800 350
Who are we?
‘We’, ‘us’ and ‘our’ refers to Beneficial Brokers, our Aggregator, Australian Credit Licensee and our related businesses outlined in the Credit Guide provided to you.
Our commitment to protect your privacy
We understand how important it is to protect your personal information. This document outlines our commitment to managing the personal information we hold about you and how we handle that information.
We recognise that any personal information we collect about you will only be used for the purposes for which it was collected or as permitted under law. It is important to us that you feel confident that any personal information we hold will be treated securely and respectfully.
We abide by the Australian Privacy Principles (APPs) as set out in the Privacy Act 1988 (Cth) and any other relevant law.
Personal information
Personal information refers to information from which your identity is reasonably apparent. It may include information or an opinion about you, and may also include credit information.
Credit information may include:
• details of finance you have applied for or obtained
• repayment history
• defaults
• information exchanged between credit providers and credit reporting bodies
The types of personal information we may collect include your:
• name, date of birth and address
• contact details
• occupation
• account details
• information needed to identify you
If you submit inquiries through our website, we may also collect:
• the type and amount of finance you are interested in
• information provided through our web forms or tools
If you apply for finance, we may collect:
• ages and number of dependants
• length of time at current address
• employment history, proof of income and expenses
If you apply for insurance through us, we may collect health information, which we will only collect with your consent.
Why we collect your personal information
We collect your personal information for purposes including:
• assessing your application for finance
• managing your finance
• direct marketing (unless you opt out)
• managing our ongoing relationship with you
• providing information requested via our website
To maintain a successful business relationship, we may disclose your information to organisations that provide products or services used or marketed by Beneficial Brokers. We may also disclose information to any organisation that has, or is considering acquiring, an interest in your finance or our business.
How do we collect your personal information?
Where reasonable and practical, we collect your personal information directly from you.
We may also collect information from:
• our aggregator (LMG)
• other finance brokers
• accountants, lawyers and other professionals acting on your behalf
Do we disclose your personal information?
We may disclose your personal information:
• to prospective funders or intermediaries related to your finance requirements
• to organisations involved in managing or administering your finance (e.g., service providers, call centres)
• to associated businesses wishing to market products to you
• to IT providers and system support companies
• to anyone representing you (e.g., brokers, lawyers, accountants)
• with your consent
• where required by law, such as the Anti-Money Laundering and Counter-Terrorism Financing Act 2006
• to investors, advisers or entities that may acquire an interest in our business
• to your employer, referees or identity-verification services
Before disclosing your information, we will take reasonable steps to ensure:
(a) the recipient protects your information to a similar standard, or
(b) you have consented to the disclosure.
Do we disclose personal information outside Australia?
We may disclose personal information to overseas related bodies corporate, suppliers and service providers. Countries may include, but are not limited to:
• Philippines
• USA
• other countries where our cloud or IT hosting providers operate
We take reasonable steps to ensure overseas recipients comply with privacy obligations.
By providing your details, you consent to your information being stored or disclosed overseas.
Direct marketing
We may use your personal information to provide you with:
• information about finance
• offers or promotions
• updates about our organisation
• new products or services
You may opt out at any time by contacting us or using the unsubscribe link in emails. There is no charge for opting out.
Updating your personal information
It is important that the information we hold is accurate and up to date.
If your details change, please notify us.
You may request changes to your personal information at any time.
Access and correction
You may request access to the personal information we hold about you.
We may charge a reasonable fee for retrieving and supplying this information.
We usually respond:
• immediately for simple requests
• within seven days for standard requests
• within 30 days if investigation is required
If we refuse access or correction, we will provide reasons.
Using government identifiers
If we collect government identifiers such as tax file numbers, we will not use or disclose them except as required by law.
Business without identifying you
Where lawful and practicable, we offer the option to interact with us anonymously—for example, general inquiries about interest rates or promotions.
Sensitive information
We will only collect sensitive information with your consent.
How safe and secure is your personal information?
We take reasonable steps to protect your personal information through secure systems, both paper and electronic.
We protect your information from:
• misuse
• loss
• unauthorised access
• modification
• disclosure
Complaints
If you are dissatisfied with how we have handled your personal information or believe we have breached the Privacy Act, you may contact us via our website.
We will:
• acknowledge your complaint within seven days
• provide a decision within 30 days
If you are not satisfied, you may contact the Office of the Australian Information Commissioner (OAIC) at www.oaic.gov.au or 1300 363 992.
Further information
For questions about how we manage your personal information, please contact us:
📞 0493 800 350
Beneficial Brokers
Changes to our privacy policy
We review our policies regularly to meet legal and market expectations.
This privacy policy may change from time to time.
You may request this policy in an alternative format.
Effective date: August 2021
