This Credit Guide is provided by Bene Finance Pty Ltd ABN 13 627 244 848, Australian Credit Licence number 510805 (Bene / us/ we) to give you important information about our credit services.
We are licensed to arrange loans under the National Consumer Credit Protection Act 2009.
Bene provides personal loans and credit cards, and we may offer to introduce you to other credit providers. You may have been introduced to us through a broker or a third-party website. If so, they are responsible for the services that they provided to you.
Bene’s obligations before lending or assisting
Under the National Consumer Credit Protection Act, we are prohibited from providing credit to you, increasing your credit limit, or recommending a particular loan or lease with a particular lender or lessor if that credit or lease is unsuitable for you.
We must assess that credit (or a lease) is unsuitable if:
- the contract does not meet your requirements and objectives; or
- you will likely be unable to meet your financial obligations or doing so could place you into financial hardship.
To conduct an assessment, we must make reasonable inquiries about your requirements and objectives in relation to the credit contract, your financial situation, and verify your financial situation.
It is critical that you give us accurate information. Bene also does not give legal or financial advice, so we recommend that you speak to your accountant or lawyer about any credit before signing the contract.
Your right to ask for a copy of the assessment
If we provide credit to you, you have a right to request from us a copy of how we assessed your credit contract to not be unsuitable. As a digital business we will provide you an electronic copy of this assessment. However, you have the right to request a paper copy. If you request a copy, we must give you a copy:
- within seven business days if it relates to a credit contract, limit increase or credit assistance up to two years old; or
- within 21 business days if it relates to a credit contract, limit increase or credit assistance up to seven years old.
Fees and commission
Credit assistance fees and charges payable by you
If Bene provides you with credit assistance in relation to a third-party loan or lease, we will not charge you a fee or charge for our credit assistance, or matters related to the credit assistance.
Lenders we may refer to when proving credit assistance
We are currently developing our list of credit providers that we may provide assistance for. We are seeking to work with reputable credit providers who have great products to meet your requirements where we assess Bene’s product may be unsuitable.
Credit Assistance fees we may receive from third parties
Bene may receive a payment from a lender for providing credit assistance to you that results in a loan application or a settled loan. The amount of the fee is currently unascertainable including the amount of your loan. You may on request obtain an estimate of the referral fee and how it is calculated.
Fees we may pay to third parties
Bene may pay a referral fee to third parties who refer customers to us. These fees are not payable by you. These fees vary and may be one or more of a small percentage of the loan amount, a fixed fee or a volume-based fee. These fees are currently unascertainable. You may ask us for an estimate or for details about how a specific fee is calculated.
Feedback and complaints
Our internal dispute resolution scheme
We hope you are delighted with our services, but if you wish to make a complaint, you can notify us in the following ways:
- Email – you can email our Customer Relations team at email@example.com; or
- Phone – you can call our Customer Relations team on 1300 738 453.
Please clearly provide your contact details, and the details of your complaint. We aim to resolve all complaints within 5 business days and if this is not possible, we will keep you informed of our progress. If you do not hear from us within five business days, you may contact our Head of Customer Relations by email at firstname.lastname@example.org or by phone at 1300 738 453.
Our external dispute resolution scheme
If you are not satisfied with our response to your complaint, or if you consider that we have not responded to you in a timely manner, you may contact the Australian Financial Complaints Authority (AFCA) online at www.afca.org.au, by phone on 1800 931 678, or by mail at GPO Box 3, Melbourne, VIC 3001.
Things you should know
We do not provide legal or financial advice. It is important you understand your legal obligations under the loan, and the financial consequences. If you have any doubts, you should obtain independent legal and financial advice before you enter any loan contract with us.
You can always reach us on phone and email during our business hours. Our contact details are
Phone: 1300 738 453
Last updated on: 18 April 2019
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