Credit Guide
Credit Guide
EFFECTIVE: 5 NOVEMBER 2024
Credit Provider – Elevare Pay Easy Pty Ltd A.C.N. 634 728 591
1925 Logan Road, Upper Mount Gravatt QLD 4122
Australian Credit Licence 552946
1. About This Credit Guide
This Credit Guide provides you with important information about Elevare Pay Easy Pty Ltd A.C.N. 634 728 591 (trading as Elepay) and the credit services we offer. It is designed to help you understand your rights as a consumer, including how we assess your application, our obligations under Australian credit law, and how you can resolve any concerns.
2. Our Credit Services
Elepay holds an Australian Credit Licence (ACL 552946) issued by the Australian Securities and Investments Commission (ASIC). We provide credit services, including:
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Personal loans and credit products
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Responsible lending assessments
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Credit contracts tailored to individual financial needs
3. Our Responsible Lending Obligations
As a licensed credit provider, Elepay complies with the National Consumer Credit Protection Act 2009 (Act). Under the Act, we are unable to enter into a credit contract with you (or increase your credit limit under an existing credit contract) if it would be unsuitable for you.
A credit contract (or credit limit increase) would be unsuitable if you are unable to comply with your financial obligations under the credit contract (or do so without experiencing substantial hardship), or if the contract does not meet your stated requirements or objectives.
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When conducting our credit assessment, we will make reasonable inquiries about your financial position, requirements and objectives and take reasonable steps to verify this information.
4. Obtaining a copy of your assessment
If the credit contract (or credit limit increase) proceeds, we must provide you with a copy of your credit assessment should you request us to do so.
You may request a copy before, or within 7 years of, entering into a credit contract (or obtaining a credit limit increase). If a request is made within 2 years of such event, then we must provide you with a copy of your assessment within 7 business days, otherwise within 21 business days.
To obtain a copy of your assessment (free of charge), you can call us on 1300 019 417 or send a request to legal@elepay.com.au.
Please note that we are not required to provide you with a copy of your assessment if the credit contract (or credit limit increase) does not proceed.
5. Fees & Charges
When you take out a loan with Elepay, you may be required to pay certain fees, including:
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Plan fee charges
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Administrative fees (such as bank processing and missed payment fee) (if applicable)
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Late payment fees (such as default interest and late fee) (if applicable)
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Security registration and search fees (such as caveat registration and withdrawal fee) (subject to your consent and if applicable)
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Referral fee (if applicable)
A full breakdown of applicable fees and charges will be provided before you sign your credit contract.
6. Commissions & Benefits
Elepay and its representatives may receive commissions from third parties in connection with the credit services provided. The amount of commission varies depending on the type of loan product. If you would like to know more about commissions or benefits, please contact us directly.
7. What if you have a complaint?
We are dedicated to handling your complaints in a fair, transparent and prompt manner. If you have any complaint, we encourage you to contact us at any time via the following:
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Lodge a complaint via our online Complaints Form: www.elepay.com.au/legal-centre/feedback-query-complaint;
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Email to: complaints@elepay.com.au;
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Live Chat at: www.elepay.com.au; or
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Telephone on 1300 019 417 from 8.30am to 5.00pm Monday to Friday (AEST).
For general complaints, we will endeavour to resolve the complaint within 5 business days (although we tend to resolve matters within one business day). For any complaints requiring further investigation, we will attempt to resolve the matter as soon as possible and advise you of the outcome (or if further time is required) within 21 business days.
8. External Dispute Resolution
We will try our best to resolve any disputes you may have but if you feel dissatisfied with our resolution, you may make an make an enquiry or lodge a formal complaint with Australian Financial Complaints Authority (AFCA):
Australia Financial Complaints Authority
Telephone: 1800 931 678
Email: info@afca.org.au
Website: www.afca.org.au
Mail: GPO Box 3, Melbourne VIC 3001
AFCA provides a free and independent third-party dispute resolution process for complaints about financial products and services and they have the authority to make binding decisions.