Credit Guide
About the National Consumer Credit Protection Act
The National Consumer Credit Protection Act regulates credit provided in Australia to individuals for personal, domestic or household purposes and for investment in residential property. If a loan is used mainly for any of these purposes ten the law requires us to make assumptions about some of the disclosures (eg. such as the total amount of fees and charges and the total amount of repayments) based on future events that may not turn out to be correct (eg. If you have a variable rate loan, your interest rate may change). The Act does not apply to companies or to borrowers of credit provided wholly or predominantly for investment (other than in residential property) or for business purposes (or for both purposes).
Credit Guide
This credit guide applies if we may enter into a credit contract with you regulated by the National Consumer Credit Protection Act.
Flash Money Pty Ltd credit license ACL 508661 is the credit provider. You can contact us by emailing [email protected]
Flash Money will not enter into an unsuitable contract with you
We will not enter into a contract, or increase the credit limit of your current contract if it would be unsuitable for you. A contract will be unsuitable for you if you will be unable to comply with your financial obligations under the contract without suffering substantial hardship, or if the contract does not meet your stated requirements and objectives.
In order to ensure that we do not enter into a contract that is unsuitable with you, we are required to make reasonable inquiries relating to your financial situation, requirements and objectives, and to take reasonable steps to verify your financial situation.
We will provide a copy of our assessment if you ask
We are required to make an assessment that the credit contract or increase in credit limit is not unsuitable before we enter into a credit contract with you or agree to increase your current credit limit.
If you ask us we will give you a copy of the assessment before entering into the credit contract or increasing your credit limit.
You may also request a copy of the assessment within seven years of the date the contract is made or your credit limit is increased. If your request is made within two years, we will provide you with the assessment within 21 business days. We will not charge you a fee for providing the assessment.
What if you have a complaint?
In the event of a dispute, you should first discuss the matter with us to see whether we can satisfactorily resolve your concerns. You may tell us of your concerns in one of the ways shown below.
- Email [email protected]
- Complete the online feedback form located (insert url)
- Australian Financial Complaints Authority Member ID: 40176
Post: GPO Box 3, Melbourne VIC 3001
Telephone: 1800 931 678
Website: www.afca.org.au
Mini Flash Loan Fees
(If the principal amount you borrow is between $500 and $2,000)
You will only be charged the loan establishment fee and the monthly loan fee when making payments on time. If you miss any repayments, a Dishonour and Default Fee will apply
Super Flash Loan Fees
(If the principal amount you borrow in between $2,001 and $5,000)
You will only be charged the loan establishment fee and the interest charges calculated based on the applicable interest rate when making payments on time. If you miss any repayments, a Dishonour and Reschedule Fee will apply.