Consumer Data Right Policy

20 March 2023

Savings.com.au Pty Ltd

Introduction

This Consumer Data Right Policy ("CDR Policy") outlines how Savings.com.au Pty Ltd ("Savings.com.au") manages and protects your personal information when you use our services and when we share your information with third parties under the Consumer Data Right regime.

What is CDR

The Consumer Data Right regime (CDR) was introduced to give consumers better control over their data and how they share that data. CDR allows you to provide your consent to give an accredited business access to your consumer data in a secured way, so they can offer products and services to you.

Our Commitment to Your Privacy

We are committed to protecting your personal information and maintaining your privacy. We respect your right to privacy and are committed to complying with the Australian Privacy Principles (APPs) set out in the Privacy Act 1988 (Cth) (Privacy Act) and the Consumer Data Right regime established under the Competition and Consumer Act 2010 (Cth) (CCA).

Purpose and Scope

The purpose of this CDR Policy is to set out how Savings.com.au collects, uses, stores, and discloses your personal information in accordance with the CDR regime. This CDR Policy applies to all personal information collected by Savings.com.au in the course of providing services under the CDR regime.

What Personal Information We Collect and How We Use It

We only collect personal information that is necessary for us to provide you with our services. This may include your name, address, contact information, and other information that you provide to us. We use your personal information to:

provide you with our services;
comply with our legal and regulatory obligations;
improve our services; and
communicate with you about our services and offers.

We may also collect, use, and disclose your personal information for other purposes with your consent or where required or authorised by law.

How We Protect Your Personal Information

We take reasonable steps to protect your personal information from unauthorised access, disclosure, and misuse. We implement security measures such as firewalls, encryption, and password protection to ensure the confidentiality and integrity of your personal information.

Sharing Your Personal Information with Third Parties

We may share your personal information with third parties, including other banks or financial institutions, where it is necessary to provide you with our services or as required or authorised by law. We will only share your personal information to the extent necessary to provide you with our services or comply with our legal and regulatory obligations. We will enter into contractual arrangements with any third parties to ensure they comply with the CDR regime and the APPs.

Accessing and Correcting Your Personal Information

You have the right to access and correct your personal information that we hold. If you wish to access or correct your personal information, please contact us using the contact details provided below. We will respond to your request within a reasonable period and will provide you with access to your personal information unless there is a lawful reason for us not to do so.

Where is your data stored?

Your CDR data is stored in Australia.

When you will be notified about certain events

We take the security of your CDR data very seriously. However, in the event of a data security breach relating to your data, we will take the necessary steps required to investigate, isolate and reduce any potential harm for consumers. If required, we will notify you, and the Office of the Australian Information Commissioner.

Complaints and Feedback

If you have any complaints or feedback about our handling of your personal information, please contact us using the contact details provided below. We take all complaints and feedback seriously and will respond to your concerns as soon as possible. If you are not satisfied with our response, you may lodge a complaint with the Australian Financial Complaints Authority (AFCA) or with the Office of the Australian Information Commissioner (OAIC). Their contact details are as follows:

AFCA:

Online: www.afca.org.au

Email: info@afca.org.au

Phone: 1800 931 678

Mail:

Australian Financial Complaints Authority

GPO Box 3

Melbourne, VIC 3001

OAIC:

Online: www.oaic.gov.au/privacy

Email: enquiries@oaic.gov.au

Phone: 1300 363 992

Mail:

Office of the Australian Information Commissioner

GPO Box 5218

Sydney, NSW 2001

Data Accuracy and Quality

We take reasonable steps to ensure that the personal information we collect, use, and disclose is accurate, up-to-date, and complete. If you believe that the personal information we hold about you is inaccurate, please contact us using the contact details provided below. We will take reasonable steps to correct any inaccurate personal information.

Data Retention and Deletion

We only retain your personal information for as long as necessary to provide you with our services or as required by law. We will securely delete or de-identify your personal information when it is no longer required or where you have withdrawn your consent.

Cross-Border Disclosure

We may disclose your personal information to overseas recipients, including recipients in countries that do not have equivalent privacy laws, where it is necessary to provide you with our services or as required or authorised by law. We will only disclose your personal information to overseas recipients in accordance with the APPs.

Changes to Our CDR Policy

We may update this CDR Policy from time to time. The current version of our CDR Policy will be made available on our website. We encourage you to review this policy periodically to stay informed about how we are protecting your personal information.

Contact Us

If you have any questions or concerns about our handling of your personal information or this CDR Policy, please contact our Privacy Officer at:

Privacy Officer
Savings.com.au Pty Ltd
Email: privacy@savings.com.au
Phone: 1300 001 153

We will respond to your inquiry as soon as possible and in accordance with our obligations under the Privacy Act and CCA.

Conclusion

At Savings.com.au, we take your privacy seriously and are committed to protecting your personal information in accordance with the Australian Privacy Principles and the Consumer Data Right regime. We strive to provide our customers with transparency and control over their personal information and will continue to implement and maintain robust security measures to protect the confidentiality and integrity of your personal information.

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the InfoChoice Group. In the interests of full disclosure, the InfoChoice Group are associated with the Firstmac Group. Read about how InfoChoice Group manages potential conflicts of interest, along how we get paid.

Savings.com.au Pty Ltd ACN 161 358 363 operates as an Australian Financial Services Licensee and an Australian Credit Licensee Number 515843. Savings.com.au is a general information provider and in giving you general product information, Savings.com.au is not making any suggestion or recommendation about any particular product and all market products may not be considered. If you decide to apply for a credit product listed on Savings.com.au, you will deal directly with a credit provider, and not with Savings.com.au. Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au's Financial Services and Credit Guide (FSCG). The information provided constitutes information which is general in nature and has not taken into account any of your personal objectives, financial situation, or needs. Savings.com.au may receive a fee for products displayed.

Explore the InfoChoice Group network: InfoChoice · Your Mortgage · Your Investment Property · Performance Drive

Our company, Savings.com.au, has obtained accreditation as a data recipient for the Consumer Data Right (CDR). You can view our CDR policy by clicking on this link.

Important information

Savings.com.au provides general information and comparison services to help you make informed financial decisions. We do not cover every product or provider in the market. Our service is free to you because we receive compensation from product providers for sponsored placements, advertisements, and referrals. Importantly, these commercial relationships do not influence our editorial integrity.

For more detailed information, please refer to our How We Get Paid, Managing Conflicts of Interest, and Editorial Guidelines pages.

Editorial Integrity

At Savings.com.au, we are passionate about helping Australians make informed financial decisions. Our dedicated editorial team works tirelessly to provide you with accurate, relevant, and unbiased information. We pride ourselves on maintaining a strict separation between our editorial and commercial teams, ensuring that the content you read is based purely on merit and not influenced by commercial interests.

Learn more about our commitment to editorial integrity in our Editorial Guidelines.

Advertiser Disclosure

Our service is free for you, thanks to support from our partners through sponsored placements, ads, and referrals. We earn compensation by promoting products, referring you, or when you click on a product link. You might also see ads in emails, sponsored content, or directly on our site.

For more details, see How We Get Paid.

Product Coverage and Sort Order

We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.

Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes.

Additionally, certain products may present forms designed to refer you to associated companies (e.g. our mortgage broker partner) who may be able to assist you with products from the brand you selected. We may receive a fee for this referral.

You can customise your search using our sorting and filtering tools to prioritise what matters most to you, although we do not compare all features and some results associated with commercial arrangements may still appear.

For more details, visit How We Get Paid and Managing Conflicts of Interest.

Comparison Rate Warning and Base Criteria

For home loans, the base criteria include a $400,000 loan amount over 30 years. For car loans, the base criteria include a $30,000 loan over 5 years. For personal loans, the base criteria include a $20,000 loan over 5 years. These rates are only examples and may not include all fees and charges.

*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Monthly Repayment Figures

Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.

Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you.

Related Brands

Savings.com.au is proudly part of the InfoChoice Group, which includes InfoChoice.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and PerformanceDrive.com.au. The InfoChoice Group is associated with the Firstmac Group.

We may include products and services from loans.com.au, CarLoans.com.au, OnlineAuto.com.au, and YourMortgageBroker Pty Ltd, all associated with the Firstmac Group. Importantly, these brands are treated like any other commercial partner.

Learn more about how we manage conflicts of interest.

General Advice Disclosure

The information provided by Savings.com.au is general in nature and does not take into account your personal objectives, financial situation, or needs. We recommend seeking independent financial advice before making any financial decisions. Before acquiring any financial product, obtain and read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD), and any other offer documents.

Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au’s Financial Services and Credit Guide (FSCG).