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Terms and Conditions

Updated: 25 November 2021

These Terms and Conditions apply to:

Shift Financial Pty Ltd (ACN 149 390 625) and ACN 601 158 507 Pty Ltd ("Shift").

By accepting these Terms and Conditions, you will also be agreeing to our Privacy Policy. Please go to www.shift.com.au/privacy-policy to read and review the latest version of our Privacy Policy.

1. Consent to obtain information

You expressly:

1. Acknowledge that for the purposes of the Privacy Act 1988(Cth) we are deemed to be a credit provider for the purposes of Part III-A of the Privacy Act 1988 (Cth) and

2. Consent to the fact we may give information (Credit Reporting Information) about You (the applicant and/or the Directors of the Organisation named in the application), any nominated additional guarantors and your Organisation (the entity detailed in the application) to a credit reporting agency for the following purposes.

(a) to obtain a consumer credit report on You;
(b) to obtain a credit report about your Organisation and its directors for this loan application, and for any future redraw loan application and loan review and/or;
(c) allow the credit reporting agency to create or maintain a credit information file containing information about You and your Organisation.

You also consent to us obtaining information from other financial services institutions relating to commercial loans which they have provided to You.

3. We confirm that the Credit Reporting Information will be limited to:

(i) identifying particulars, specifically your name, sex, address (and the previous two addresses), date of birth, and driver’s licence number, passport number, Medicare card number (if required) in case of a person.
(ii) You, your organisation’s and/or your organisation’s directors application for credit – the fact that You and your Organisation have applied for credit and the amount.
(iii) the fact that a credit provider is a current credit provider to You or your Organisation.
(iv) loan repayments which are overdue by more than 60 days, and for which debt collection action has started.
(v) advice that your loan repayments are no longer overdue in respect of any default that has been listed.
(vi) information that, in our opinion You or your Organisation have committed a serious credit infringement (that is, acted fraudulently or shown an intention not to comply with your credit obligations)
(vii) cheques drawn by you for $100 or more which have been dishonored more than once, and
(viii) to the extent permitted by the Privacy Act 1988 (Cth) any other information about your credit worthiness, credit standing, credit history or credit capacity.

4. You acknowledge and confirm that you have obtained consent from the Beneficial Owners of your Organisation (including Directors and nominated additional guarantors) to these Terms and Conditions and for us to perform the necessary credit and identity checks relevant to the loan application. Specifically, you acknowledge and confirm that these parties (including shareholders and trust beneficiaries) have agreed to have their identity information verified with the issuer or official record holder via third party systems.

5. Consent to us retaining your personal information and information relating to the Beneficial Owners, shareholders, and beneficiaries for any purpose legally required, including the legal requirements under the Anti-Money Laundering & Counter-Terrorist Financing Act 2006 (AML/CTF).

6. Consent to allowing us to use any information you provide in your application for credit for the purposes of assessing any future application you may make for credit and monitoring your loan performance.

7. Consent to us sharing your email address with company partners who give our members free offers and exclusive deals.

8. Consent to any personal information you provide to us (or give to any other third party consistent with these consents), and any other information we obtain about you (including any credit information) being sent or stored overseas.

9. Consent to us using the secure token from illion BankStatements and BankFeeds, to save and refresh bank statement reports and obtain ongoing account transaction details for the purposes of assessing and monitoring your current and future loans. You understand that the account transaction details may include any transactional data from any accounts linked to the login credentials supplied to illion (which may include both business and personal accounts).

10. If you choose to submit your bank statements or to login via the secure link provided by us, you agree to consent to the Terms and Conditions of the bank link Service Provider (illion Data Solutions Pty Ltd ACN 166 277 845).


2. Notice

We provide you access and use of this site subject to your compliance with the Terms and Conditions of Use. You agree to familiarise yourself with the terms and guidelines found throughout our web site and abide by them if you choose to use the sites, pages or services to which they apply.

You can review the most current version of these Terms at any time on this web site. If you do not agree to be bound by the site terms and applicable law each time you use this site, or you do not have the authority to agree to or accept these site terms, do not access this site, or any pages thereof. By accessing, browsing, and using this site, you agree to be bound by the site terms and all applicable law.


3. Related policies and terms

Please refer to our Privacy Policy in order to fully understand how we use and collect information. To learn about our privacy practices, please refer to the Privacy Policy section of the site.


4. Use of information and materials

The information and materials contained in these pages, and the terms, conditions, and descriptions that appear, are subject to change. Unauthorised use of our web sites and systems including but not limited to unauthorised entry into our systems, misuse of passwords, or misuse of any information posted on a site is strictly prohibited. Not all products and services are available in all geographic areas. Your eligibility for particular products and services is subject to final determination by us and/or our affiliates.


5. Links

This site may contain links to websites controlled or offered by our third parties affiliates and non-affiliates. We hereby disclaim liability for any information, materials, products, or services posted or offered at any of the third party sites linked to this web site. By creating a link to a third party web site, we do not endorse or recommend any products or services offered or information contained at that web site, nor are we liable for any failure of products or services offered or advertised at those sites. Such third party sites may have a privacy policy different from ours and the third party website may provide less security than our site.


6. No warranty

The information and materials contained in this site, including text, graphics, links or other items are provided “as is” and “as available”. We do not warrant the accuracy, adequacy or completeness of this information and materials, and expressly disclaims liability for errors or omissions in this information and materials. No warranty of any kind, implied, expressed, or statutory including but not limited to the warranties of non-infringement of third party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information and materials.


7. Limitation of liability

In no event will we be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with this site or any linked site or use thereof or inability to use by any party, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if we or our representatives are advised of the possibility of such damages, losses, or expenses.


8. Submissions

All information submitted to us via this site shall be deemed and remain our property. We shall be free to use, for any purpose, any idea, concepts, know-how or techniques contained in information a visitor provides through this site. Our web site shall not be subject to any obligations of confidentiality regarding submitted information except as agreed directly with you, or as otherwise specifically agreed or required by law. Nothing contained herein shall be construed as limiting or reducing our responsibilities and obligations to customers.


9. Availability

This site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.


10. Governing law

Use of this site shall be governed by all applicable laws of Australia.