We value and respect your privacy at Rapid Loans

PRIVACY STATEMENT

This Privacy Statement is made on behalf of Rapid Loans NZ Limited and all references to “Rapid Loans”, “we”, “us” or “our” in this statement are references to Rapid Loans NZ Limited (Company Number 3579431)
Please read carefully before signing any documentation.

Protecting your information is important

At Rapid Loans, we understand the importance of protecting information that identifies you. This Privacy Statement tells you how and why we collect information when you apply for funding and also how we may use the information.

Rapid Loans requires information from Consumers in order to adequately and responsibly assess a Consumer’s request for funds. Rapid Loans assures Consumers that all information provided by them in association with the facilitation of credit, shall be used by Rapid Loans only for the primary purposes of:

• Assessing whether to grant a loan to the Consumer; and
• The administration associated with the Loan and Security Agreement; and
• In the event of a default, to contact the Consumer, and/or to locate the Consumer and/or to facilitate collection of all outstanding money.

PRIVACY ACT 1993

The Privacy Act 1993 empowers and regulates Rapid Loans in its collection of information about you, both from you and from other sources such as credit reporting agencies, your referees, your bank, past or present employers, any other business organisation that may have information relevant to your application for funds and from any publicly available source of information. The Privacy Act 1993 also regulates the use and storage of such information.

Information Disclosure and Communications under the Unsolicited Electronic Messages Act 2007 Act

You are informed that Section 9 of the Unsolicited Electronic Messages Act 2007 Act provides that Rapid Loans cannot communicate with you via a “commercial electronic message” (email, fax, SMS) without your consent. As you would expect, for speed and convenience, where possible and with your permission, Rapid Loans would prefer to communicate with you using such electronic means. By submitting an application via Rapid Loans’s website, you consent to receiving commercial electronic messages from Rapid Loans. Without your permission, written communications will have to be conveyed by ordinary post.

What information we collect about you

Rapid Loans and / or its authorised agents collects information about you when you apply for funding. We collect personal information about you to verify your identity, address and income so that we can adequately assess your application. By acknowledging this form you also give us authority to do credit reference checks. If your funding is approved, elements of your application and repayment history may be used in calculating statistics. Your details are never associated directly with the resulting statistics which are only ever used to enable us to better serve you and future customers and to aid our marketing. (For example your age may be used in calculations which profile age brackets of our customer base).

We may also use your information to provide you with offers and information about our services that we think may interest you. If you do not want to receive this information, contact us and we will remove you from our mailing list.

INFORMATION PRIVACY PRINCIPLES

Rapid Loans adopts and endorses the Information Privacy Principles contained in the Privacy Act 1993:

• We collect personal information only as is necessary for our business activities;
• We do not use or disclose personal information for any purpose other than the primary purposes of collection detailed above;
• We do not seek, or keep information as to our Consumer’s political beliefs, religious persuasions, sexual activity and orientation and/or health;
• We undertake all reasonable steps to ensure that the personal information collected, used or disclosed, is accurate, complete and up to date. Consumers are under an obligation to be truthful and correct and to inform Rapid Loans of any changes to information provided, which occur during the Loan and Security Agreement period;
• We take reasonable steps to protect the personal information we hold from misuse, or loss, and from unauthorised access, modification or disclosure. We take reasonable steps to destroy, or permanently de-identify any personal information we no longer require;
• Consumers have continuing access to personal information about them which is held by Rapid Loans. Incorrect or inaccurate information will always be corrected when we become aware that it is incorrect or inaccurate. On request, a Consumer will be provided with access to information held about them;
• Rapid Loans does not adopt any identifier assigned to a Consumer by a Government agency or any other agency;
• Rapid Loans acquires all Consumer information by lawful and fair means and not in an unreasonably intrusive way;
• Rapid Loans does not engage in speculative data collection;
• Rapid Loans does not make its Consumer lists available to third parties;
• Rapid Loans advises Consumers who any information may be provided to and in what circumstances. This is usually limited to Rapid Loans personnel for processing and administration purposes, and to authorised personnel working for credit reporting agencies and for appointed solicitors and/or debt collection agencies, in the event of a default;
• Rapid Loans will always fully cooperate and provide information concerning Consumers, as is required by law.

USE OF PERSONAL INFORMATION

Rapid Loans collects personal credit information only for the following purposes:

• to verify your identity and address for the purposes of complying with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009;
• to assess any application for funds by you;
• to assess your financial circumstances;
• to help us process your application for funds in an efficient manner;
• to avoid the chance you may default on your payment obligations;
• to notify you of a default;
• to notify other credit providers of a default;
• to facilitate the collection of overdue payments; and
• efficiently manage and administer all services we provide to you.

This information can include any information about your credit worthiness, credit standing, credit history or credit capacity, that funds providers and credit reporting agencies are allowed to give to, or receive from, each other under the Privacy Act 1993.

This information is accessed, only as required by Rapid Loans, its employees, professional advisers, contractors and other service providers, to facilitate the above purposes. Rapid Loans will not sell, rent or trade your personal information. We assume that any referral to third parties that you may give us, in order to obtain your personal and other information will have been with the agreement and knowledge of the third parties involved and that you will have made them aware of the purposes and use of such information, prior to our contacting them.

USES AND DISCLOSURE OF INFORMATION

Information Regarding Contact Details Of Friends Or Relatives (Referees)
This information will only be used for the purpose of enabling Rapid Loans to contact these people regarding your whereabouts if we are unable to contact or locate you. You should advise them if you have given Rapid Loans their contact details and immediately notify us if they do not want to be contacted.

Information Disclosure To Credit Reporting Agencies

You are hereby informed that, in accordance with the terms of the Privacy Act 1993, Rapid Loans as a credit provider, may disclose your credit information to credit reporting agencies (including but not limited to Equifax (formerly Veda Advantage)) for the following purposes:

• To obtain a consumer credit report about you;and/or
• To allow the credit reporting agency to create or maintain a credit information file containing information about you;
• If you default in your payment obligations to Rapid Loans, information about that default may be given to Equifax, and Equifax may give information about your default to other Equifax customers;
• To confirm your identity;
• To provide account and repayment history information to a credit reporting agency.

In order to assess an application for commercial funds, Rapid Loans will need to obtain a report containing information about your commercial activities and/or commercial worthiness, from a business which provides information about the commercial credit worthiness of people.

Information Disclosure To Confirm Your Identity
Information that we disclose to credit reporting agencies for the purpose of confirming your identity may include the provision of your name and/or address and/or date of birth and drivers licence number as you have provided to us. Please note that the provision of your driver licence number is voluntary and you can refuse to provide it. However, this may affect our ability to adequately confirm your identity. Such information is provided to credit reporting agencies by Rapid Loans, for a matching process entailing comparison with personal information about you which they already have on their files. If there is no satisfactory match found and/or the level of verification which we must seek, as part of our mandatory credit unsuitability/suitability assessment process, is inadequate we may give you the opportunity to verify your identity by contacting the credit reporting agency yourself, or by alternative means, before we can advance a loan. In these circumstances, if you choose not to attempt to verify your identity by contacting the credit reporting agency yourself, or by alternative means, or your contact with the credit reporting agency is unsuccessful, or we determine that the alternative has failed to provide adequate identity verification, we cannot advance you a loan.

Information Disclosure To Other Organisations

• Under the terms of the Privacy Act 1993, Rapid Loans may disclose your personal information to:
• Our external service providers and their agents that provide business services to us, on a confidential basis, only for the purpose of our business;
• Financial Dispute Resolution scheme, to which a complaint relating to a particular service we provide to you, can be referred;
• Any court or tribunal as may be required by law.

The information disclosed to the above is limited to (if applicable):

• Identity particulars – your name, sex, address (and previous two addresses), date of birth, name of employer and drivers’ licence number;
• The fact that you have applied for funds and the amount;
• The fact that Rapid Loans is a current provider of funds to you;
• Payments which are overdue and for which debt collection has been instigated;
• Advice that your payments are no longer overdue in respect of any default that has been listed;
• Information that, in the opinion of Rapid Loans, you have committed a serious infringement (i.e. you have been fraudulent or shown an intention not to comply with your payment obligations);
• Dishonoured cheques – cheques drawn by you for $100 or more, which have been dishonoured more than once;
• Direct Debit transactions that have been dishonoured;
• That funds provided to you, by Rapid Loans, have been paid or otherwise discharged.

This information may be given before, during or after the term of the provision of funds.

Information Disclosure In The Event Of A Default Of Your Payment Obligations
In the event of any default of the payment conditions entered into in association with Rapid Loans, any information provided by you shall be made available to personnel employed by solicitors and/or debt collection agencies authorised by Rapid Loans in the process of recovery of funds advanced, plus all associated fees and charges (if any) and all legal and administrative costs incurred, following the default.

How to contact us

If you have any questions about this privacy policy, or if you wish to access or correct your personal information, please contact The Privacy Manager, Rapid Loans by:

email: privacy@rapidloans.co.nz ; or
telephone: 09 801 8169