Your privacy is important to us.
Moneylab understands and appreciates that you are concerned about your privacy, including the confidentiality and security of the information we may gain about you online. Moneylab therefore takes pride in being proactive when it comes to safeguarding your privacy and any information you might provide in the course of your dealings with us.
Moneylab’s commitment to openness, transparency and your privacy
Moneylab’s commitment to openness, transparency and your privacy has been unwavering since its inception and is wholly aligned with the Australian Privacy Principles. Beyond being legal obligations, Moneylab considers these principles to be good business practice.
- How you identify yourself to us and the kinds of information we may ask you to provide
- The purposes for which we do so
- The safeguards we have in place to keep this information secure
- The steps you can take to correct or update information you have provided, or how to make a complaint if you feel we have not lived up to our end of the bargain
Detailed information on the Australian Privacy Principles can be accessed through the Office of the Australian Information Commissioner website.
Your identity and the information Moneylab collects
Moneylab believes you should have complete control over your money and your online identity. The information Moneylab collects from you or about your use of the Moneylab Service is dependent on how you access and use the features we offer.
Information from Visitors to Moneylab
If you are a visitor to Moneylab, we do not collect personal or sensitive information from or about you from the unsecure areas of the Moneylab website. If you are a visitor who does not log in to the Moneylab Service with a username and password, you therefore remain anonymous.
Information from Users of the Moneylab Service
In order to access the secure, password protected features of the Moneylab Service, such as functionality to optimise your banking structure and manage your spending more wisely, you will need to register an account with Moneylab, either through the Moneylab website or a Moneylab mobile application. When you do, you will be asked to provide:
- an email address
- basic personal information (first and last name, date of birth and gender)
- personal information about your situation (income range, occupation, family structure and location)
- your account credentials required to log in to various third party accounts (“Account Credentials”)
To use the Moneylab service we always require an email address and basic personal information including your first name, last name, date of birth and gender. We use this information to identify your account and configure the Moneylab service for your use.
You can tell us as much or as little as you like about your situation and your account credentials. However, the more you tell us the more we can help you. If you choose not to provide some information you may be unable to use some of the features we offer.
Other personal information we collect from you will depend on what information you choose to disclose to us and how you use the Moneylab Services. Other personal information that we may collect from you includes, credit card details, (for payment purposes only) and mobile phone number.
You consent to our use of your Account Credentials, as your authorised agent for the purpose of accessing your Account Information from third party financial institutions (e.g., banks, mortgage brokers, and superannuation funds) in order to provide you with the services you access through Moneylab. This collection is made on our behalf through an account aggregation service provider, currently Yodlee, Inc. Further information about this process can be found below.
You acknowledge that when we use your Account Credentials we can access your Account Information with third party financial institutions on your behalf and in doing so you may not be in compliance with the terms and conditions of your financial institution.
Information from Financial Partners
A Financial Partner is a company or professional who subscribes to the Moneylab Financial Partner Services to access the financial data of their customers via their Moneylab accounts.
In order to access the secure, password protected features of the Moneylab Financial Partner Website, Financial Partners are asked to provide:
- email address
- their full name and phone number
- business name and ABN/ACN
- credit card details (for payment purposes only)
We collect this information for the purposes of validating that a Financial Partner is authorised to provide financial services to their customers.
Government related identifiers and unsolicited personal information
IP addresses and cookies and aggregate data
It is necessary for Moneylab to collect the Internet Protocol (IP) address (i.e., the identifier for your computer when you are using the Internet) of Website users for their interaction with various parts of the Moneylab Service. In the case that Moneylab has recorded your IP address, such as when you log in, it is stored for security and audit purposes only. Your IP address will not be used by us or released to any third party except in relation to issues pertaining to security, inappropriate behaviour and/or fraud, which may include issues such as unauthorised access to your computer, our systems, or fraudulent transactions.
The Moneylab Website uses “cookies” in order to provide you with the best online experience possible, assist with managing your Account, and to identify you on return visits. These cookies are small data files sent and stored in your web browser on your computer’s hard drive. Moneylab may access these to understand more about your preferences in order to deliver a more relevant service. For instance, Moneylab may learn from these what kind of offers you like and be able to limit the amount of times you see offers not relevant to you. If you wish to know when or if you receive cookies from the Moneylab Website, you can manually set your browser to notify you of this or, in the case you do not wish to receive cookies, to reject cookies.
Although Moneylab’s systems do not collect any personal or sensitive information from or about Website visitors, they do collect metadata such as the date and time of each unique visit, any pages viewed, and any content downloaded. They also log the number of times Website visitors click on content featured on the Website. This information is collected only to further develop the Moneylab Service and improve the facilities and/or services we are able to offer.
How we use your data and personal information
- to provide you with information you request about us or the products or services we offer through the Moneylab Service
- to provide information to persons expressly authorised by you
- to manage the Moneylab Service (including your Account)
- to arrange for and provide products or services you request from time to time
- to access or directly link to Third Party Websites and your Third Party Accounts
- to determine and notify you of what products or services (including third party products and services) we consider may be of interest to you
- to process and obtain payment for any products or services you apply for through the Moneylab Service
- to understand how you use the Moneylab Service and to help us improve the Moneylab Service, our marketing or the way we do business
- if necessary, to verify your identity or age (i.e. over 18)
- to contact you for direct marketing and promotional purposes including providing you with information about new products or services (including third party products and services), events and special offers, unless you tell us that you do not wish to receive this type of information
We may use your data and any personal information which you have provided to us to enhance the service we are providing to you. Moneylab and its related bodies corporate may use, and may permit our service providers to use, deidentified and aggregated data from our customers for purposes including developing a better understanding of the way customers use the Moneylab Service, and may disclose this information in a deidentified manner to third parties, including to:
- advertisers and other third parties for their marketing and promotional purposes such as how many users clicked on their advertisement
- other users of the Moneylab Service in order to provide them benchmarks for comparing themselves against the broader Moneylab community
- approved companies wishing to conduct research into consumer spending
- partners who provide their customer with a partner sponsored version of the Moneylab Service
- our service providers’ commercial partners
Moneylab takes all reasonable steps to allow you control over your data. You may cancel your Account at any time by accessing the delete account option available through the Website. Your Account will be disabled immediately and we will disconnect any connection with your Account Information we have established. Moneylab reserves the right to use any aggregated and deidentified data derived from your utilisation of the service up to this point.
We may obtain a commercial benefit from the disclosure of aggregated and deidentified data.
We may disclose your Account Credentials to our account aggregation service provider. Our current provider is Yodlee Inc (“Yodlee”), headquartered in California, United Sates. Yodlee is a leading financial services and technology provider. Yodlee maintains offices in the United States, the United Kingdom and India. The disclosure of this information to Yodlee is strictly governed by our privacy and security obligations to you, and is necessary as Yodlee provides the means by which you can link your financial data to your Moneylab Account. We may enter into arrangements with alternative providers from time to time.
You consent to our disclosure of this information as your authorised agent for the purpose of allowing our account aggregation service provider to access your Account Information with third party financial institutions (e.g., banks, mortgage brokers, and superannuation funds) in order to allow us to provide you with the services you request. When the service provider accesses your Account Information your identity is not directly ascertainable from the transaction data which is part of your Account Information.
We may also disclose your personal information to our service providers throughout the world, including to the United States and Japan, for the purpose of providing our service to you.
Access provided to a Financial Partner
A Financial Partner may access a Moneylab user’s data if that user accepts a Moneylab Financial Partner Access Invitation sent by them. Access can be revoked at any time by either the user or Financial Partner. Where a user has accepted an invitation, the Financial Partner has full access to the user’s data and the features available through the users Account (excluding Account Settings), including the ability to make changes to the data in your Account and provide additional personal information about you. The Financial Partner is subject to Terms of Access that govern use of a user’s data and they agree to use the data in accordance with this Policy. If you believe any personal information your Financial Partner has provided is inaccurate, you can edit the information yourself, contact your Financial Partner to rectify the error, or alternatively contact us for assistance.
How Moneylab secures your information
- Regularly reviews and adopts new developments in electronic security and encryption technologies. The authenticity and security of the Moneylab Website has received the security seal of world-leading Internet security firm McAfee, who conducts daily security checks and malware scanning of the Moneylab Website.
- Ensures the physical security of any information you might share with us at a third party facility under the constant surveillance of security personnel. Our legally-binding agreements with this third party outline the appropriate use and handling of your information and prohibit them from using any of your personal information for purposes unrelated to the service they have been engaged to provide. This third party is bound by our own stringent privacy and security obligations to you, and will be subject to discipline, termination and/or criminal prosecution should they not meet these obligations in their entirety.
Direct communications and disclosure of personal information
When you register to use the Moneylab Service, you can configure whether you want Moneylab to send direct communications to you. These include communications related to transactional activity on your financial accounts or direct marketing communications. You can opt out or configure how you receive communications on transactional activity by accessing the “Alert Settings” within your Account Settings. You can opt out of direct marketing communications by selecting unsubscribe from any marketing emails that you receive.
Accessing your personal information or making a complaint
In most cases you can access, correct or edit the personal information you choose to share with Moneylab via your Moneylab Account. You may request access to any personal information we hold about you at any time by contacting us (see the details below). Where we hold information that you are entitled to access, we will try to provide you with suitable means of accessing it (for example, by mailing or emailing it to you). We may charge you a fee to cover our administrative and other reasonable costs in providing the information to you. We will not charge for simply making the request and will not charge for making any corrections to your personal information.
There may be instances where we cannot grant you access to the personal information we hold. For example, we may need to refuse access if granting access would interfere with the privacy of others or if it would result in a breach of confidentiality. If that happens, we will give you written reasons for any refusal.
If you believe that personal information we hold about you is incorrect, incomplete or inaccurate, then you may request us to amend it. We will consider if the information requires amendment. If we do not agree that there are grounds for amendment then we will add a note to the personal information stating that you disagree with it.
What is the process for complaining about a breach of privacy?
If you believe that your privacy has been breached, please contact us through our complaints process using the contact information below and provide details of your complaint. We will investigate your complaint and provide you with a written response (which could include email) as soon as we can and normally within 10 business days but no later than 45 days from the date you first contacted us.
You can submit a complaint by:
Phone: 02 8014 8611 or 1300 41 40 84
You can also submit any written communications via the “submit a request” tool on the Help page of the Moneylab Website.
You may complain to the Office of the Australian Information Commissioner (OAIC) if you have raised a complaint with us and you’re not happy with our response or have concerns about the way we handle your personal information. The contact details for the OAIC are set out below.
Office of the Australian Information Commissioner
GPO Box 5218 Sydney NSW 2001
Phone: 1300 363 992
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Last updated: 7 February 2022