Privacy Policy

1 · Who this policy covers

This policy is issued by MyAssetPay Pty Ltd ACN 648 613 585, ABN 40 648 613 585, of Level 28, 333 Collins Street, Melbourne VIC 3000 (MyAssetPay, we, us). In this policy, personal information has the meaning given in the Privacy Act 1988 (Cth).

It applies to everyone whose personal information we handle, including visitors to this website, people who make an enquiry, people who open an account with us, borrowers, and the individual contacts at the storage providers we work with.

MyAssetPay's lending is conducted as pawnbroking under the Second-Hand Dealers and Pawnbrokers Act 1989 (Vic) and the Second-Hand Dealers and Pawnbrokers Regulations 2018 (Vic), in Victoria only. That is directly relevant to your privacy, because several things we collect are collected because those laws, and the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), require us to collect them.

2 · Our commitment

We have adopted the Australian Privacy Principles (APPs) in the Privacy Act 1988 (Cth). The APPs govern how we collect, use, disclose, store, secure and dispose of personal information. We apply them to everything we hold, including information we collect and handle for anti-money-laundering purposes.

We collect only what we need. We tell you what we are collecting and why, at or before the point we collect it. We do not sell personal information, and we do not disclose it for anyone else's marketing.

3 · What we collect, and when

What we collect depends entirely on how far you go with us. There are three stages, and they are deliberately different.

Stage 1 — You make an enquiry

If you use our enquiry form or email us, we collect only what you give us: your name, your mobile number, your email address, the Australian state you live in, the kind of asset you are asking about, where it is stored, an indicative amount, and anything else you choose to write.

At this stage we do not ask about your income, your employment or your financial position, and we do not obtain any report about you from any credit reporting body. An enquiry is a conversation, not an application.

Stage 2 — You open an account with us

Before we can provide you with any service, the law requires us to identify you. At account opening we collect and verify:

• your full name;
• your date of birth;
• your residential address; and
• an address for notices, and an alternative address for service if you ask us to use one.

We verify your name and either your date of birth or your residential address, using either an identity document or reliable and independent electronic data from at least two separate sources. If we verify you electronically, we will ask for your express consent first, and we will tell you that an alternative method is available if you would rather not. If an electronic provider cannot verify you, we will tell you in writing, name the provider, and offer you another way.

We also ask you to tell us whether you are a politically exposed person, and we screen you against Australian and international sanctions lists. If you are a sole trader we also collect your business name, principal place of business and ABN.

You will also be asked to accept our Account Terms and this policy. We record what was presented to you, the version of each document, what you did to accept it, and the date, time and account session — because that record is what proves what you agreed to, and in some cases the law requires us to hold it.

Stage 3 — You apply for a loan

When you apply for a loan we additionally collect:

• identity documents — a copy of your driver licence, passport or other acceptable document (see section 4);
• details of the asset you are pledging, including its description, its identifying marks, its value, and the facility and location where it is stored;
• your bank account details, so that we can pay you and confirm the account is in your own name;
• the results of the searches we are required or entitled to run — a Personal Property Securities Register search, and a bankruptcy search of the National Personal Insolvency Index maintained by the Australian Financial Security Authority; and
• the records of the transaction itself — the loan, the pawn ticket, payments, notices, and correspondence.

We do not obtain a credit report about you from any credit reporting body, and we do not report anything about you to one. If that ever changes, we will change this policy first and we will ask for your consent.

4 · Sensitive information and identity documents

Some of the information on a driver licence or on the photo page of a passport is sensitive information under the Privacy Act. We are required to collect it by law.

Three rules apply, and we hold ourselves to all three:

• We collect it only directly from you. Your storage provider cannot give it to us on your behalf, and we will not accept it from them.
• We collect it only when you apply for a loan — not when you enquire, and not for browsing.
• We use it only to establish your identity and to meet our obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and the Second-Hand Dealers and Pawnbrokers Act 1989 (Vic). We do not use it for anything else without your express consent.

We do not collect biometric information, and we do not use facial recognition or liveness checks.

5 · Why we collect it

We will use your information for a secondary purpose only where that purpose is related to the one we collected it for and you would reasonably expect it, where you have consented, or where the law requires or authorises it.

We do not send marketing to people who have not asked for it. If we ever send you anything promotional, it will carry a way to stop it, and stopping it will not affect anything else.

6 · What happens if you do not provide it

You do not have to give us anything. But there are consequences, and one of them is absolute.

If you cannot produce acceptable evidence of your identity, the law does not permit us to proceed. Section 19(2) of the Second-Hand Dealers and Pawnbrokers Act 1989 (Vic) requires a pawnbroker to refuse to accept the goods in that case. It is not a discretion we hold and it is not something we can complete afterwards.

Short of that: if you do not give us the asset and storage details, we cannot assess the asset. If you do not give us your bank details, we cannot pay you. If you give us only an enquiry, we can only have a conversation.

7 · Where we get information other than from you

Wherever we reasonably can, we collect personal information directly from you. We may also collect it from:

• a professional storage provider who has referred you to us, or who confirms to us what is in storage, where it is, and that it is held for us while a loan runs;
• identity verification providers, if you consent to electronic verification;
• the Personal Property Securities Register, for existing security interests over the asset;
• the Australian Financial Security Authority, from the National Personal Insolvency Index;
• your bank or a bank-account verification service, to confirm the nominated account is in your name;
• publicly available sources and sanctions and politically-exposed-person screening lists; and
• anyone you authorise to deal with us on your behalf.

If we collect personal information about you from someone else, we will take reasonable steps to tell you, unless the law says otherwise.

8 · Who we disclose it to

We disclose personal information only where we need to, and only to:

• the professional storage provider holding your asset — so it can confirm what is stored, hold the asset for us for the term of the loan, and confirm it is released to you when the loan ends;
• identity verification, sanctions screening and bank-account verification providers;
• the Registrar of Personal Property Securities and the Australian Financial Security Authority;
• regulators and law enforcement — including AUSTRAC, Consumer Affairs Victoria, the Business Licensing Authority, and Victoria Police, where the law requires or authorises it. Under section 25 of the Second-Hand Dealers and Pawnbrokers Act 1989 (Vic), a police officer may require production of transaction records, and we must comply;
• our IT, cloud and data hosting providers, and our document and communications providers;
• our professional advisers — lawyers, accountants and auditors — under obligations of confidence;
• insurers, where relevant to a claim; and
• a purchaser, if the asset is sold after a loan is not repaid — and then only what is necessary to complete the sale.

We do not disclose your personal information to anyone else without your consent, unless we are required or authorised by law to do so.

9 · Overseas disclosure

Some of the service providers we use store or process data outside Australia. Where that happens, we take reasonable steps to ensure the overseas recipient handles your personal information in a way consistent with the Australian Privacy Principles, and we remain accountable for what they do with it.

10 · How we protect it

We take reasonable steps to protect personal information from misuse, interference and loss, and from unauthorised access, modification or disclosure. That includes restricting access to the people who need it, using reputable providers, and requiring those providers to commit contractually to protecting the information they handle for us.

No system is perfect. If we ever become aware of unauthorised access to or disclosure of personal information we hold, we will assess it and, where the Notifiable Data Breaches scheme in Part IIIC of the Privacy Act applies, notify you and the Office of the Australian Information Commissioner.

11 · How long we keep it — and why we cannot simply delete it

We keep records for at least seven years. That is not our preference; it is what the law requires of us:

• the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) requires identification and transaction records to be kept for seven years, and for identification records the seven years runs from the end of our relationship with you, not from the end of a loan;
• the Second-Hand Dealers and Pawnbrokers Act 1989 (Vic) requires transaction records to be kept and to remain producible for inspection, including for three years after a registration or endorsement is surrendered or cancelled; and
• tax law imposes its own retention periods.

The honest consequence: we cannot offer a “delete everything” button. If you close your account, we will stop using your information for anything other than meeting those obligations, and we will destroy or de-identify it once the last of the periods has run and there is no legal reason to keep it.

We hold your information because the law obliges us to, not because of any licence you give us in our terms. Our Account Terms give us a licence to use your information only to operate our service, and only for as long as that reasonably requires.

12 · Access and correction

You can ask for access to the personal information we hold about you, and you can ask us to correct it if it is wrong, out of date, incomplete or misleading. Write to us at info@myassetpay.com.

We will respond within 30 days. There is no fee for making a request. If we have to spend significant time locating and reproducing a large volume of material, we may charge a reasonable cost for providing the copy, and we will tell you what it will be before we do any of it.

We may refuse access or correction in the limited circumstances the Privacy Act allows. If we do, we will tell you in writing why, and how to complain about it.

13 · Privacy complaints

If you think we have mishandled your personal information, tell us. Email info@myassetpay.com or write to the Privacy Officer, MyAssetPay Pty Ltd, Level 28, 333 Collins Street, Melbourne VIC 3000. You can also call 1300 692 770 — please follow a call up in writing as well, so there is a record of what you told us and when.

Tell us at info@myassetpay.com or on 1300 692 770. We will acknowledge your complaint and give you a written response. If you are not satisfied with our response, you can contact the Office of the Australian Information Commissioner (OAIC).

If you are not satisfied with our response, you can complain to the Office of the Australian Information Commissioner at www.oaic.gov.au.

14 · This website: cookies, analytics and hosting

This website is a set of static pages. MyAssetPay does not set analytics, advertising or tracking cookies on it, and there is no third-party analytics, session recording, advertising or chat code on any page.

Our hosting provider processes technical connection data — including your IP address and the time and page of your request — to deliver the pages to you and to protect the site from attack. Our hosting provider also automatically obscures email addresses on our pages to reduce spam, which involves a small script served from the same host.

Our enquiry form does not run on a server of ours. Section 3 of this policy describes what it collects; the enquiry page itself tells you how what you type reaches us before you type anything.

If we ever add analytics to this site, we will update this section before we turn it on.

15 · Changes to this policy

We may update this policy. The version and effective date at the top of this page always tell you which one applies. Where a change is significant, we will tell account holders directly.

16 · Contact us

Privacy Officer
MyAssetPay Pty Ltd
Level 28, 333 Collins Street
Melbourne VIC 3000
info@myassetpay.com · 1300 692 770

Email is the best way to reach us, because it gives us both a record. You can also call the number above.