When you apply for a new product or service, the application includes notices about privacy and requests for consent. Those privacy notices (called privacy statements) specify in more detail how any information about you may be used and disclosed in relation to the particular product or service.
If you are an investor, when you apply for or use one of our products or services, you consent to us collecting, maintaining, using and disclosing personal information about you (provided by you or by another person) in accordance with the privacy statement in the application and this policy.
If you are an adviser, by recommending our products or services, you consent to us collecting, maintaining, using and disclosing personal information about you (provided by you or by another person) in accordance with the privacy statement included with the application and this policy.
The types of information we keep on record will depend on the type of product or service requested by an investor or recommended by an adviser.
Generally, we keep a record of one or more of the following types of information about you:
for investors and advisers:
We do not actively seek to collect sensitive information (for example health information or information about any criminal record), unless it is necessary for our business purposes. If we do have to collect sensitive information, we will only collect, use and disclose it in accordance with privacy laws. Sometimes we act as an agent for others when collecting information about you, such as for our preferred insurance companies. We will tell you when we do this.
We collect and hold information about you when you:
We also collect some statistical information about visitors, from our website (for example, the number of visitors, pages viewed, types of transactions conducted, time online and documents downloaded). Some of this statistical information is collected by using cookies. We use this information to evaluate our website performance (including identifying potential performance problems) and continually improve our services. None of the statistical information we prepare from information using cookies identifies individual visitors to our website.
Other than statistical information, we do not collect any information about you through our website unless you provide the information to us.
Generally, we only collect personal information about you from you, unless it is not reasonable or practical for us to do so or you consent. For example, you may authorise us to collect information from a third party, like your accountant, adviser or client or you may be named as a beneficiary in another application for one of our products or services. We may also collect information about you from other members of the Westpac Group or from publicly available sources such as company registers or land title registries.
How may Advance use your personal information?
We use personal information about investors and advisers to:
When we request your information, we may give more specific details about the way we use your information.
Generally, we must obtain your consent before we tell anyone about you, or your investments. You can give us your consent expressly (by telephone or writing to us) or it may be implied by your conduct.
Sometimes the law requires or allows us to give out information about you. For example, we must tell the Australian Tax Office how much interest we pay you. Another example is giving your account details to a court if we are ordered to do so under a subpoena.
Depending on our relationship with you, if it is necessary we may also disclose your personal information:
We may at other times give you more details about our disclosure practices in relation to specific products or services - for example on the forms we use to collect personal information about you.
Your personal information may also be used by us or other members of the Westpac Group to help assess your total relationship and product holding within the Westpac Group, analyse products and services, evaluate the needs of our customers, develop new products and to provide us with administrative and advisory services.
Unless you inform us or have previously told us not to, we may also provide access to your personal information (excluding health information) to members of the Westpac Group or use that information ourselves to inform you of products and services offered by any member of the Westpac Group or preferred organisations which we think may be of interest or value to you.
We take all reasonable steps to protect your personal information from misuse, loss, unauthorised access, modification or disclosure.
We have physical, electronic and procedural safeguards to protect your information which is held by us. For example, your personal information is stored in secured office premises, in electronic databases requiring logins and passwords for access and/or at one of our secured warehouses. Access to information stored electronically is restricted to staff whose job purpose requires access. We require all staff to maintain the confidentiality of customer information.
We use secure methods to destroy or de-identify any personal information as soon as the law permits, provided the information is no longer needed by us for any purpose. Ordinarily, for information about a particular account, we destroy the information seven years from the date you close the account.
We will notify you of any change to our information handling policy that requires your consent before being implemented.
Unless required by law (for example to comply with a legal duty of disclosure whene applying for an insurance policy) you need not give us any of the personal information about you or any other person which may be requested in our communications with you. However, without that information, we may not be able to process an application, fulfil your request or provide you with an appropriate level of service.
If you do not want the benefit of receiving information, special offers or exclusive opportunities about products and services (which may be supplied by us or any member of the Westpac Group or preferred suppliers) which we think may be of interest or value to you, then please tell us. You can do this at any time by writing to us or telephoning us at the contact details listed on our contact us page.
You can request access at any time to personal information we hold about you. We will process your request within a reasonable time, usually 14 days. More time may be needed, depending on the nature of the request.
There is no fee for requesting access to your information, however we may charge you the reasonable cost of processing your request.
Sometimes we are not required to provide you with access. If we refuse you access to your personal information, we will tell you the reason why. If we are not required to provide you with access to the information requested, we will consider, if reasonable, whether the use of a mutually agreed intermediary would allow sufficient access to meet your needs and ours.
We try to ensure that all information we hold about you which we collect, use or disclose is accurate, complete and up to date. You must promptly notify us if there are any changes to your personal information.
You may ask us at any time to correct personal information held by us about you, which you believe is incorrect or out of date. We will deal with your request within a reasonable time.
If we disagree as to the accuracy of the information, you may request we make an appropriate notation in relation to that information noting that you consider it is not accurate, complete or up to date.
If there is anything you would like to discuss, please contact us
We will try to answer any questions you may have, correct any error on our part or resolve any complaint that you may have about our information handling practices. If we do not resolve a complaint to your satisfaction, you also have the right to complain to the Privacy Commissioner. We will provide you with the Privacy Commissioner’s contact details if required.