either by telephone (using Loanservice PhoneDirect), by the internet (using Loanservice NetDirect) or by other forms of access we make available from time to time.
1.2 Your entitlement to redraw or draw down an amount from your Account is governed by the terms and conditions of your Account. Nothing in these terms and conditions varies that entitlement in any way.
1.3 The first time that you or a person authorised by you use the Loan Access System, you automatically agree to these terms and conditions.
1.4 We may cancel the Loan Access System or your registration at any time and without notice if we believe that your use of the Loan Access System may cause losses to you or us or we believe it is necessary to protect the security of the Loan Access System. We are not liable if the System is unavailable or fails to operate as intended or at all. Accordingly, if you have any problems with the Loan Access System you should contact the service provider specified at the foot of these conditions.
1.5 If the Loan Access System is not available for any reason, it is your responsibility to use other means of obtaining information regarding your Account or effecting a redraw or draw down.
1.6 Only cleared funds are available for redraw or draw down, therefore, funds deposited in your Account are not available for redraw or draw down until 5 Banking Business Days after the date of deposit.
1.7 The Loan Access System is provided by LoanService accordingly the Lender and the Originator/Manager in relation to your Account accepts no responsibility in relation to the operation of the Loan Access System.
2 Registration
2.1 You will be sent your Personal Identification Number (PIN).This allows you to use the Loan Access System to obtain information regarding your Account.
2.2 To request a redraw or draw down using the loan Access System you must
register by completing a registration form and returning it to us.
2.3 If we accept your registration, we will allow you full access to the
functions of the Loan Access System.
2.4 You, and if there is more than one of you, each of you will be provided with
the PIN.
2.5 If there is more than one of you, then each of you authorise each other to
use the Loan Access System on behalf of all of you. If any one of you use the
Loan Access System, then all of you will be bound for any transactions made as
if you all used the Loan Access System.
3 Using the Loan Access System
3.1 You may use the Loan Access System immediately after receiving your PIN.
3.2 When using the Loan Access System, you will be required to give your
Security Information. You may be asked to provide additional information for the
purposes of identification.
3.3 When you use the Loan Access System and give us your Security Information
you authorise us to provide information regarding your Account or act on your
instructions and if you are registered to pay any redrawn or drawn down amount
into your Nominated Account. We need not pay any such amount in any way other
than by deposit into your Nominated Account.
3.4 If we accept your Loan Access System request for a redraw or a draw down of
funds, we will endeavour to ensure that this amount is deposited in your
Nominated Account within 2 working days.
3.5 You may not use email to send us any notices or requests that may be
required under these conditions or the terms and conditions applying to your
Account.
3.6 If you access the Loan Access System from a place outside Australia, your
use of the Loan Access System may be governed by the laws and regulations of
that place.
3.7 When you have completed a transaction using the Loan Access System it will
display a receipt number and a brief summary of the transaction. This summary
will contain the following information; the amount of the transaction, the date
and time of the transaction, the type of transaction eg transfer, an indication
of the Account being debited or credited and the balance in your Account. Such
transactions will appear on the statements applying to your Account.
3.8 We (or our agents or contractors) own the proprietary and intellectual
property rights in the Loan Access System, despite any ability you may have to
download or modify information.
3.9 You are responsible for the installation and maintenance of any equipment
you require to access the Loan Access System.
4 Liability
4.1 It is important that you keep your PIN and Access Number secure. You must
take all reasonable precautions to ensure that your PIN and Access Number are
not misused and that their security is protected. In particular, you must:
- ensure that your PIN and Access Number are not disclosed to any person;
- use care to prevent anyone else seeing your PIN or Access Number being entered
when using the Loan Access System;
- avoid your PIN and Access Number being recorded when accessing the Loan Access
System (for example, from a telephone where the number dialled can be recorded
for billing purposes or via the internet where the home page of the website and
the Access Number and/or PIN can be accessed by looking at the internet history
of the user);
- keep any record of your PIN and Access Number details (without making any
reasonable attempt to protect the security of the PIN or Access Number records)
separate and apart from each other so that they are not liable to loss or theft
simultaneously;
- keep any record of your Access Number and PIN secure; and
- when you change your PIN, do not choose a numeric code that represents your date
of birth.
4.2 You must tell us as soon as possible if you suspect that your PIN or Access
Number is known to another person. We can cancel any PIN at any time and without
notice if we believe it is being used in a way that can cause loss to you or us.
4.3 We are entitled to give access to information regarding your Account to any
person supplying the relevant Security Information. We are not required to
verify or authenticate your identity or their identity before giving access to
the Account or processing a transaction on the Account. If you allow a third
party to use the Loan Access System to operate your Account, you will be liable
for any use of the Loan Access System by that person as though you used it
yourself. You will be responsible for all transactions by that person (even if
you did not authorise those transactions) and any breaches of these terms and
conditions. You agree to indemnify us against all losses, liabilities and
damages incurred by us as a result of us acting in accordance with the
instruction of a third party you allow to use the Loan Access System.
4.4 You agree to check your statements, any account records and any receipts (in
whatever form they are provided) to ensure that there has been no unauthorised
access to your Account. If you notice anything which indicates that someone has
accessed your Account without authority, you agree to notify us immediately.
4.5 Except as provided in any law which cannot lawfully be excluded or modified
by agreement, we make no express or implied warranty or representation in
connection with the Loan Access System.
4.6 You are not liable for loss of funds:
- where it is clear that you have not contributed to the loss;
- that are caused by the same transaction being incorrectly debited more than once
to the same Account;
- where unauthorised use takes place before you received your PIN or Access
Number;
- that are caused by the fraudulent or negligent conduct of our employees or
agents or any company involved in our networking arrangement or of merchants
linked to the electronic funds transfer system, or their employees or agents; or
- unauthorised access has been obtained due to a breach of security of the website
or the network and other equipment which supports the Loan Access System; or
- where unauthorised use takes place after you inform us that your PIN and Access
Number has been lost or stolen or the security of the PIN or Access Number has
been breached.
4.7 Where you have contributed to the loss resulting from unauthorised
transactions by:
- acting fraudulently;
- disclosing your PIN or Access Number to any person;
- failing to keep any record of your PIN and Access Number details (without making
any reasonable attempt to protect the security of the PIN or Access Number
records) separate and apart from each other so that they are not liable to loss
or theft simultaneously;
- when you change your PIN, and after our specific warning not to choose a numeric
code that represents your date of birth and the consequences of doing so,
selecting such a numeric code;
otherwise acting with extreme carelessness in failing to protect the
security of the PIN or Access Number;
you are liable to the actual loss suffered before we are notified of the misuse,
loss or theft or the breach of the security of the Loan Access System, but you
are not liable for that portion of the losses incurred:
- or any one day that exceeds the daily transaction limit;
- in a period that exceeds any other periodic transaction limit applicable to the
relevant period; or
- that exceeds the credit limit applying to your Account during the period
4.8 Where you have contributed to the loss resulting from unauthorised
transactions by unreasonably delaying notification to us after becoming aware of
the misuse, loss or theft of any device forming part of the Loan Access System
or that the security of the PIN or the Access Number has been breached, you are
liable for the actual losses that occur between when you became aware, or should
have reasonably become aware, and when we were actually notified but you are not
liable for that portion of the losses incurred:
- on any one day that exceeds the daily transaction limit; or
- in a period that exceeds any other periodic transaction limit applicable to the
relevant period; or
- that exceeds the credit limit applying to your Account during the period.
4.9 Where it is not clear whether or not you have contributed to the loss
resulting from unauthorised use, your liability will be limited to the least of:
- $150;
- your credit limit at that time; or
- the actual loss suffered.
5 Variation and notice
5.1 We may change these terms and conditions at any time. If we make a change
which will involve an increase in fees or charges we will give you 30 days
notice in writing. If we make a change that does not involve and increase in
fees or charges then we will give you notice in writing before that change takes
effect.
5.2 Our obligation to provide you with notice is satisfied if we post the notice
by ordinary mail to the last address you gave us.
6 Definitions and interpretation
The following terms have the meanings set out below unless the context otherwise
requires.
Access Number means your personal access code.
Account means any account in respect of which we allow you to
use the Loan Access System
Loanservice PhoneDirect means the facility (as modified from
time to time) which allows telephone access to the Loan Access System.
Loanservice NetDirect means the facility (as modified from time
to time) which allows internet access to the Loan Access System.
Banking Business Day means any day on which banks in Sydney are
able to effect settlement through the Reserve Bank of Australia.
Loan Access System means the system described in clause 1.1
including Loanservice PhoneDirect, Loanser NetDirect and other forms of access
we make available from time to time.
Nominated Account means the transaction account linked to your
Account into which we deposit funds redrawn or drawn down from your Account.
PIN means your personal access code which we give you when you
establish your Account and which allows you to access the Loan Access System.
Security Information means your Access Number and your PIN.
We or Us means the lender and
Originator/Manager in respect of your Account and [Provider of the Loan Access
System].
You means any person who uses the Loan Access System in respect
of an Account.