Loan Access Terms
- Resimac Home Loans Limited (NZBN: 9429034643020) (we/us/our) as the Programme Manager
and the Lender of loans.
- 1. ePayments Code
We will use reasonable endeavours to comply with the ePayments Code when our dealings with you fall under that code
- 2. How can you access your account?
2.1 We may offer you access to your account by the following access methods:
• internet (including through the use of an app) These are known as ‘Access Methods’. We may or may not make additional services available in your country of residence in the future. You can contact us to check their availability.
- 2.2 We may tell you how to use the Access Methods from time to time.
- 2.3 The Access Methods may be subject to fees contained in your Credit Contract, or restrictions, such as daily transaction limits set by us.
- 2.4 Our Schedule of Fees & Charges apply to your use of the Access Methods. Merchants and/or other institutions engaged through your use of these access methods may charge additional fees and may impose additional obligations or restrictions (for example; minimum spend rules, direct debit fail charges, dishonour fees) subject to their specific terms and conditions governing your engagements with such third parties.
- 2.5 We may provide you with access authorisation and authentication tools and/or codes, including a PIN, a One Time Passcode, user ID (all included in the term ‘access codes’ in these terms and conditions) or password to access the Access Methods. We may cancel or suspend an access code at any time without notice if we reasonably believe its use may result in loss to you or to us.
- 3. Who can use the Access Methods?
- 3.1 We may give access to your account, and process any transactions made by any person supplying the relevant valid access code(s). We can debit your account and you are liable for all transactions conducted by anyone you’ve given your access codes to (even if that transaction is not authorised by you).
- 3.2 You may instruct us to block access to your account using the Access Methods. Your account
will be frozen and unavailable to access until all borrowers (as applicable) provide written
authorisation and instructions to unfreeze the account and reinstate access.
You can request that we block your access by contacting us by post, telephone or email. We will ordinarily process your request within 72 hours of receiving it.
Phone: 0800 38 48 58
Postal Address: PO Box 37066, Parnell, Auckland 1151
- 4. Your instructions
- 4.1 When you use the Access Methods, your instructions may be carried out if they:
(a) are permitted by these access terms; and
(b) comply with the directions on how to use these access terms.
- 4.2 We may postpone processing a transaction if we need further information from you or a third party.
- 4.3 When you or anyone authorised by you gives us instructions using the Access Methods, we may not be able to stop the transaction authorised by those instructions. You are responsible for ensuring that the instructions are correct and/or authorised.
- 4.4 When you transact using electronic Access Methods, you can be provided with an electronic receipt.
- 5. Outbound direct debits
- 5.1 We may allow you to arrange outbound direct debit payments for your account.
- 5.2 You must give us correct information. You are liable for any debits we carry out in accordance with your instructions.
- 5.3 We may permit you to arrange recurring debits.
- 5.4 We will decide the order in which debits will be processed based on the following priority criteria:
(a) Scheduled repayments will take priority over debit payments.
(b) Debit payments will be processed chronologically subject to sufficient funds being
available in your account.
In the event there is insufficient funds in your account, we will notify you advising that your debit payment has not been processed due to insufficient funds.
- 5.5 We do not guarantee that any debit will be made on the day or at the time requested. We will endeavour to complete the transaction as soon as practicable after the requested time.
- 5.6 We have the right to decline your authorisation for any transaction if we are uncertain for any reason of the authenticity or validity of the authorisation or your legal capacity to give the authorisation. We will not be liable to you or any other person for any loss or damage which you or such other person may suffer as a result of our action.
- 5.7 To the extent permitted by law, we are not liable for any loss or damage you suffer as a result of using any Access Method or any delay omission or failure in respect of any payment.
- 6. Direct debit
- 6.1 You can arrange for a direct debit to be drawn from your account and paid to another account by supplying us with written authorisation. A direct debit can be set up through internet access or by contacting us.
- 6.2 You can authorise a third party to debit your account with us by providing them with written authorisation.
- 6.3 You must ensure that there are sufficient cleared funds in your account to process a debit. If we try to process a debit and you have insufficient available funds, then the debit may be dishonoured and we may charge you a direct debit dishonour fee as described under our Schedule of Fees & Charges.
- 6.4 Where the date for a debit falls on a day which is not a Business Day, you must ensure that your account has sufficient cleared funds for the debit to be processed on the next Business Day
- 7. Altering or stopping a debiting service
- 7.1 We may stop processing the direct debit arrangements at any time without notice including
without limitation where:
(c) it is not or will not be possible for us to access the systems we use to provide these services for reasons beyond our control, or due to system outages for any reason, or schedule maintenance or outages that we notify you about;
(d) there are insufficient available cleared funds in your account or the account is closed;
(e) the debit was made in error;
(f) the account to which payment is to be taken from is closed; or
(g) we are advised by the recipient of a debit that the debit is no longer required.
- 7.2 In circumstances where the debiting has been arranged by you through a third party, then the arrangement will need to be altered, cancelled or stopped by notifying the third party.
- 8. Internet access
- 8.1 We may provide you with access to your account/s via internet access. You are responsible for arranging your own internet connectivity to for such access.
- 8.2 You may use internet access to obtain account information, to transfer money to your external nominated account, or to process a ’pay anyone’ (payment to third parties) and between your loan accounts.
- 8.3 In order for us to facilitate a transaction, you must have sufficient cleared funds in your account.
- 8.4 If you arrange to send a payment to another institution, we will direct the transaction electronically to the intended account using only the BSB and account number provided by you. The account name is not used to validate that the transaction has been posted to the correct account.
- 8.5 You must ensure the BSB and account number details for any payments are correct because we are not liable to you for transactions that are directed to an incorrect account.
- 9, Recorded transactions
- We can, at our discretion, make electronic copies (including recordings) of or monitor any transaction conducted via the internet access for the purpose of accuracy and security.
- 10. Transaction processing times
- If we are instructed to do so, we will credit amounts to your account, as soon as practicable after we receive them. Those amounts are then not available until they are cleared (which in some cases, may take up to 5 business days).
- 11. General
- 11.1 You must keep your access codes(and any records of the details of this) secure.
- 11.2 You must do everything necessary to ensure that your access codes including secret questions are not misused, lost or stolen. If any of these are misused, lost or stolen, you must tell us as soon as possible.
- 11.3 You should contact us about any problems or questions relating to the Access Methods.
- 12. Access security
- 12.1 You must always act with care and protect the security of your access codes. Memorise your access codes, and destroy any correspondence notifying you of an access code.
- 12.2 You must not:
(a) disclose voluntarily to anyone (including family or friends) any of your access codes;
(b) record any access code on a device (such as a smartphone) that could be used to perform a transaction, or anything carried with the device or anything liable to loss or theft with the device, unless you make a reasonable attempt to protect the security of the access codes; or
(c) keep a written record of all or any access codes required to perform a transaction on one or more things which are likely to be lost or stolen at the same time, without making a reasonable attempt to protect the security of the access codes.
- 12.3 You must act with care to protect the security of your access codes – for example, never store an access code in an unprotected notebook or under a heading ‘internet access password’.
- 12.4 If you choose your own access code, you must not select numbers or words which represent your date of birth, your name, or any other combination of numbers or letters which can be readily identified with you.
- 12.5 You must always log off from internet access and close your browser once you have finished an internet access session. If you are using a public computer of mobile device, you must clear the computer or device cache or history after using internet access.
- 12.6 You should take appropriate steps to ensure any device you use to access an electronic access channel is protected against computer viruses and unauthorised access.
- 13. Our liability
- 13.1 Subject to any warranties implied by law that cannot be excluded, we are not responsible for,
or liable for loss, damage, or interruption arising out of:
(a) errors, inaccuracies, omissions, interruptions, viruses or defects where you were aware, or should have been aware, that the electronic services or any system or related equipment was malfunctioning, other than the refund of any charges or fees imposed on you as a result of the system being unavailable or malfunctioning;
(b) reliance on information obtained through use of the electronic services; or
(c) failure of the electronic services to perform a function in whole or in part.
- 13.2 If an error, inaccuracy or omission occurs and you advise us in writing, we will endeavour to correct the problem within three business days of notification. If we cannot, we will inform you when we expect to complete the correction.
- 13.3 Internet access to your account may be automatically denied after unsuccessful attempts to enter the relevant access codes. If this happens, you must contact us to obtain internet access to your account.
- 14. When you are not liable for losses – electronic Access Methods
- 14.1 If transactions not authorised by you are processed on your account, you must inform us as
soon as you become aware of these. You will not be liable for unauthorised transactions:
(a) if it is clear that you have not contributed to the loss, or for transactions that you could not have known about;
(b) when they are caused by the same transaction being incorrectly debited more than once to the same account;
(c) which took place before you received any relevant access code;
(d) that are caused by the fraudulent or negligent conduct of our employees or agents, a third-party supplier company involved in our networking arrangements or by merchants, or their employees or agents;
(e) which relate to a device or access code which is forged, faulty, expired or cancelled;
(f) that occur after you inform us that your access code has been lost or stolen or the security of the access code has been breached; or
(g) that result from an unauthorised transaction that can be made using an identifier without an access code
- 15. When you will have limited liability for losses – electronic Access Methods
- 15.1 If it’s not clear whether you’ve contributed to the loss caused by an unauthorised transaction
that required one or more access codes, the amount of your liability will be limited to the least
(b) the actual loss at the time we’re notified that the security of your access code or PIN was breached or used without your permission (limited by the applicable daily or period transaction limits over the relevant timeframe); and
(c) the credit limit (if any) of the account from which value was transferred in the unauthorised transaction.
- 16. When you will be liable for losses – electronic Access Methods
- 16.1 If we can prove on the balance of probability that you’ve contributed to the loss by:
(a) acting fraudulently; and
(b) breaching any security terms set out in this document,
your liability will extend to the total loss suffered before you report the loss, theft or misuse of a device or breach of access code security to us.
- 16.2 You will not be liable for any portion of the losses incurred:
(a) on any one day that exceed any relevant daily transaction limit;
(b) in a period that exceeds any other applicable periodic transaction limit applicable to the relevant period;
(c) that exceeds the credit limit (if any) applying to your account during the period; or
(d) on any account that you and we agree could not be accessed by way of the Access Methods.
- 16.3 Where more than one access code is required to perform a transaction and:
(a) we prove that the security of an access code(s) has been breached, but not all of the required codes; and
(b) we reasonably believe on the balance of probability that a breach of security of the access code(s) by the account holder contributed to more than 50% of the fault for the losses when assessed together with all the other contributing causes,
then you will be deemed to have contributed to and are liable for the actual losses which occur before we are reasonably notified after you become aware of the loss, theft or misuse of your access code or a breach of the access code security requirements.
- 16.4 To the extent permitted by law, you indemnify us against any reasonable loss or damage we
may suffer due to any action of any kind brought against us because you:
(a) did not observe any of your obligations; or
(b) acted negligently or fraudulently in respect of your account.
- 17. Liability for unreasonably delaying notification
- 17.1 If we can prove on the balance of probability that you have contributed to a loss caused by an
unauthorised transaction by unreasonably delaying notification that the security of your access
codes have been compromised after you become aware of the loss, theft or breach, you will be
liable to us for the actual losses incurred between:
(a) the time you first became aware (or should reasonably have become aware) of any of these events; and
(b) the time we are actually notified of the relevant event;
however, you will not be liable for any loss on any day, or in any period which exceeds any applicable transaction limit for that day or period, and you will not be liable for loss in excess of the credit limit (if any) of your account.
- 18. Liability caused by equipment malfunctions
- 18.1 You are not responsible for any loss caused by the failure of a system or equipment provided by anybody to a shared electronic network to complete a transaction accepted by the system or equipment in accordance with your instructions.
- 18.2 If you incur loss as a result of a shared electronic network being unavailable or malfunctioning,
and you should reasonably have been aware of the unavailability or malfunction, our liability is
(a) correcting any errors; and
(b) reducing any fees or charges imposed on you.
- 18.3 To the maximum extent permitted by law, we’re not responsible for:
(a) errors, inaccuracies, interruptions, viruses/defects due to any system or equipment failing to complete a transaction;
(b) delays resulting from any network, system or equipment failing to support the interactive service; or
(c) any internet access service or equipment failing to complete your transaction instructions.
- 18.4 If we’re responsible for any loss caused by the failure of a system or equipment provided by us, our liability is, to the maximum extent permitted by law, limited to the cost of re-supplying the service.
- 19. Mistaken internet payments
- 19.1 A mistaken internet payment occurs when you make a transfer of money by internet access,
and that money goes to an unintended recipient because:
(a) you entered the destination account details incorrectly; or
(b) you are not provided with the correct destination account details.
- 19.2 You should report a mistaken internet payment to us as soon as you become aware of it.
- 19.3 If you report the suspected mistaken internet payment within 10 business days of making the
(a) we will contact the financial institution that received the payment;
(b) if there are sufficient funds available in the destination account and both we and the destination financial institution are satisfied that a mistaken internet payment has occurred, we will request the money back;
(c) the other financial institution should return the funds to us within 5 to 10 business days of receiving our request; and
(d) upon receipt of the funds by us, we will return the funds to your account as soon as practicable.
- 19.4 If you report the suspected mistaken internet payment between 10 business days and 7 months
of making the payment;
(a) we will contact the financial institution that received the payment to find out if there are sufficient funds in the destination account to refund the payment;
(b) if we are satisfied that a mistaken internet payment has occurred, we will ask the destination financial institution investigate;
(c) the destination financial institution should complete their investigation within 10 business days;
(d) if the destination financial institution is satisfied that a mistaken internet payment has occurred, they should prevent the holder of the destination account from withdrawing the amount of the mistaken internet payment for 10 business days;
(e) the destination financial institution should then notify the recipient that the funds representing the mistaken internet payment will be withdrawn from their account unless they can prove that they are entitled to the funds within 10 business days; and
(f) if the recipient cannot prove this, we will return the funds to your account as soon as practicable after receiving the funds which may be within two business days following the recipient’s failure to prove.
- 19.5 If you report the suspected mistaken internet payment after 7 months of making the payment:
(a) we will contact the financial institution that received the payment to find out if there are sufficient funds to refund the payment in the destination account;
(b) if we and the destination financial institution are satisfied that a mistaken internet payment has occurred, the destination financial institution should seek the consent of the recipient to have the funds returned;
(c) if the recipient consents, the destination financial institution should return the funds to us; and
(d) upon receipt of the money to us, we will return the funds to you as soon as practicable.
- 19.6 If you report the suspected mistaken internet payment to us, and there is sufficient funds in the
destination account to refund the payment, but the destination financial institution is not satisfied
that a mistaken internet payment has occurred then:
(a) the destination financial institution may seek the consent of the recipient to return the funds;
(b) if the recipient consents, the destination financial institution should return the funds to us; and
(c) when we receive the funds, we will return the funds to your account as soon as practicable.
- 19.7 If you report a suspected mistaken internet payment to us, and we and the destination financial institution are satisfied that a mistaken internet payment has occurred, but there is insufficient funds to return the payment to you then the destination financial institution should use reasonable endeavours to retrieve the funds.
- 19.8 If you report a suspected mistaken internet payment to us, but we are not satisfied that a mistaken internet payment has occurred, we are not required to take any further action. We may ask the destination financial institution to investigate. You will be liable for any loss arising from such a payment.
- 19.9 We will always tell you the outcome of a reported mistaken internet payment in writing within 30 business days of the report being made.
- 20. Changes, suspension and termination of Access Methods
- We can change, suspend, cancel, or discontinue any one or more of the Access Methods at
any time providing you 30 days’ prior notice in writing, by email and/or by an on-screen
notification and/or posting a notice on our website, subject to any applicable laws or relevant
codes of conduct to which we have subscribed, except that this notice will not be required if we
(a) there is a security, privacy or other actual or perceived threat to you, us or the Services; or
(b) it puts us in a disadvantageous position financially or otherwise; or
(c) it is permitted under the applicable law.
- 20.2 We do not warrant that any of the Access Methods will operate at any time. You should promptly advise us of any faults or unavailability of an access method.
- 20.3 The Lender provides access to the Loan Access System and enters into the agreement only in its own capacity.
- 21. Changes to access terms
- We may vary these access terms, including the terms and conditions incorporated by reference as well as applicable charges and fees at any time by providing you 30 days’ prior notice in writing, by email and/or by an on-screen notification and/or posting a notice on our website. If you disagree with the revised terms, you must let us know by following the instructions provided to you in our notice, and stop using your account immediately.