Credit Guide

This Credit Guide tells you who we are, the credit we provide, our responsible lending obligations to you, and how to complain if something goes wrong. We must give it to you as soon as it is apparent we are likely to enter into a credit contract with you.

1. About us

Float Payments Pty Ltd (Float, we, us, our) is the credit provider.

• ACN 676 488 243 · Australian Credit Licence 561664
• Email: info@floatpayments.com.au
• Address: GPO Box 1894, Brisbane City QLD 4001

2. The credit we provide

We provide unsecured personal loans under three products:

• Float Bridge, a small amount credit contract ($500 to $2,000, 6 to 12 months)
• Float Forward, a medium amount credit contract ($2,001 to $5,000, 12 to 24 months)
• Float Ascend, a general regulated credit contract ($5,001 to $10,000, 12 to 36 months)

We are the lender. We do not arrange credit with other lenders.

3. Our responsible lending obligations

The law requires us to lend responsibly. Before we enter into a credit contract with you (or increase a limit), we must:

• make reasonable inquiries about your requirements and objectives for the credit;
• make reasonable inquiries about your financial situation;
• take reasonable steps to verify your financial situation; and
• assess whether the credit contract is not unsuitable for you.

A contract is unsuitable if, at the time of the assessment, it is likely that you could not comply without substantial hardship, or it would not meet your requirements and objectives. We must not enter into a contract that is unsuitable for you.

Additional rules apply to Float Bridge (a small amount credit contract). In particular, the repayments on the loan we are considering, added to the repayments on any other small amount loan you already have, must not be more than 10% of your income after tax. This means the amount we can lend you depends on your income plus any other small amount loan you have.

4. Your right to a copy of our assessment

You can ask us for a written copy of the assessment we made of whether the contract was not unsuitable for you. There is no charge. If you ask:

• before you enter the contract: we will give it to you before then;
• within 2 years of entering the contract: within 7 business days; and
• between 2 and 7 years: within 21 business days.

5. Fees and charges

The fees and charges that apply to your loan are set out in full in your credit contract and pre-contractual documents. In summary:

Float Bridge ($500 to $2,000, 6 to 12 months)

No interest. An establishment fee of 15% of the amount borrowed and a monthly fee of 3% of the amount borrowed. Total fees are capped at 40% of the amount borrowed, no matter how long the term runs.

Float Forward ($2,001 to $5,000, 12 to 24 months)

Interest at 18.00% to 29.99% a year, set based on your circumstances. An establishment fee of 6% of the amount borrowed, up to $400, added to your loan. No monthly account fee. Where an interest rate is quoted we also show a comparison rate, which includes the establishment fee.

Float Ascend ($5,001 to $10,000, 12 to 36 months)

Interest at 18.00% to 27.99% a year, set based on your circumstances. An establishment fee of 5% of the amount borrowed, up to $400, added to your loan. No monthly account fee. Where an interest rate is quoted we also show a comparison rate, which includes the establishment fee.

Other fees

• Dishonoured payment fee: $50. If you tell us before a repayment is due that it will not be met, we will waive this fee and work out a new arrangement with you.
• Default fee: $50. On a Float Bridge loan, we may recover enforcement costs we actually incur. The total we can recover is capped by law at twice the amount you borrowed (this cap does not include enforcement costs).
• Early repayment: no fee on any product. On a Float Bridge loan, once the loan is paid out you are not charged any further monthly fees for the remaining term.

6. If you have a complaint

If you are not happy with something, please tell us first so we can try to fix it:

Email: info@floatpayments.com.au

We will handle your complaint under our internal dispute resolution process (consistent with ASIC Regulatory Guide 271) and aim to respond within the required timeframes.

If we cannot resolve it to your satisfaction, you can take it to the Australian Financial Complaints Authority (AFCA), a free and independent external dispute resolution scheme that we are a member of:

• AFCA member number: 108485
• Phone: 1800 931 678
• Email: info@afca.org.au
• Website: afca.org.au
• Post: GPO Box 3, Melbourne VIC 3001

7. Your privacy

We handle your personal and credit information in accordance with our Privacy Policy and our Credit Reporting Policy, both available on our website.

This Credit Guide is given under s 126 of the National Consumer Credit Protection Act 2009 (Cth). It is general information and not financial or credit advice.