Complaints Policy

Notify us of the complaint

Whilst we take client complaints very seriously, we cannot deal with them unless we know about them. Although we would prefer that you advise us by email or through our website, you can let us know in any way you find convenient, whether by personally advising, telephoning us, writing a letter, sending a fax, emailing or lodging it on our website.

Generally, we will be in a position to deal with the matter immediately. If we are unable to do so immediately, the matter will be referred to a more senior person. It is our intention to deal with all matters of complaint as quickly and as efficiently as possible.

Complete complaint documentation

Where the matter cannot be resolved to your satisfaction within 24 hours of you making a complaint, details of it will be recorded in our Complaints Register. If we do not have enough information, we will get it from you. We may ask you to complete a complaint form, which you will find here. Where your complaint is made orally, the staff member will fill out the complaint form on your behalf.

Notification

We will notify you in writing within 2 business days of the receipt of your complaint. We will also notify you of the procedures we will undertake as a result of your complaint.

Investigation

Your complaint will be investigated. The person with the ultimate responsibility for its investigation is our Complaints Officer who may be contacted using the following contact details:

Name: Complaints Officer

Email: hello@monzi.com.au

Outcome

The matter will be resolved within 21 days of receiving your complaint.

Referral to our External Dispute Resolution Scheme

If you are not satisfied with the resolution proposed by us, you can take the matter further.

If the complaint relates to a financial service, you can refer it to our External Dispute Resolution Scheme. We are a member of Credit Ombudsman Service Ltd (“COSL”), one of the schemes approved by ASIC.

The contact details for COSL are as follows:

Credit Ombudsman Service Ltd

Phone: 1800 138 422

Fax: 02 9273 8440

Mail: PO Box A252, Sydney South NSW 1235

E-Mail: info@cosl.com.au

Website: www.cio.org.au

If the matter relates to privacy, you may take the matter up with the Privacy Commissioner.

The contact details for the Privacy Commissioner, in the Office of the Australian Information Commissioner, are as follows:

Privacy Commissioner

Phone: 1300 363 992

Fax: 02 9284 9666

Mail: GPO box 5218, Sydney NSW 2001

E-Mail: enquiries@oaic.gov.au

Website: www.privacy.gov.au

Complaint form: https://forms.business.gov.au/aba/oaic/privacy-complaint-/

Except for the provision of documents where you request them from us, there is no charge to you for the use of this procedure. The services of COSL and the Privacy Commissioner are made available at no charge to you.

Factor In

Costs

Two credit cards
Two credit cards

You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000

Terms

12 months

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate

Loan amount

$2,001 - $4,600

Terms

13 months

24 months

Costs

48% annual percantage rate

67.41% comparison rate p.a.

Example

Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Interest Rate for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000

Terms

13 months

24 months

Costs

21.24% annual percantage rate

48% comparison rate p.a.

Example

Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Interest Rate for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.