Credit Guide

Updated: July 21st, 2021

What is the purpose of this Credit Guide?

This Credit Guide is prepared by Flux Technologies. In this guide we outline:

  • Who we are
  • How you can contact us
  • The credit activities that Flux Technologies can provide under its credit licence
  • The commissions, fees and charges we will receive if you use our services
  • Details of our Dispute Resolution Procedures if you wish to make a complaint

Who we are?

There is a big problem happening in front of our eyes. 3 in 4 Aussies aged 18-34 are struggling to make basic financial decisions.

What does this mean? It means they are unable to save money, we’re vulnerable to predatory lending and we struggle to accumulate wealth.

That’s where Flux comes in. We want to make the topic of money fun by breaking down complex concepts and making them accessible.

We do this through content and tech – free credit score monitoring, easy ways to save and offers that give you value.

How you can contact Flux Technologies

Flux Technologies Pty Ltd:

105 Wellington St, St Kilda, VIC 3182

Email: hello@flux.finance

Website: www.flux.finance

What Credit Activities are Flux Technologies authorised to provide?

Under the Corporations Act 2001 and the National Consumer Credit Protection Act 2009, an Australian Credit Licence (“ACL”) is required to be authorised to engage in credit activities. Flux Technologies has obtained an ACL so that it can offer general advice on financial products and to engage in credit activities. Flux Technologies is an authorised representative of Mozo's AFSL.

Flux Technologies' Australian Credit Licence makes available factual information that is sourced from credit providers. Flux Technologies is in no way providing or intending to provide credit assistance to you by suggesting or assisting you apply for, remain in, or increase your credit limit with a particular credit product with a particular credit provider. If Flux Technologies refers you to a credit provider or provider of credit assistance you will be dealing directly with them and not Flux Technologies.

Specifically, Flux Technologies' ACL (No. 530103) gives Flux Technologies authorisations to:

(a) Engage in credit activities other than as a credit provider by:

             providing a credit service where the licensee is not or will not be:

  1. where the service relates to a credit contract or proposed credit contract - the credit provider under the contract; or
  2. where the service relates to a consumer lease or proposed consumer lease - the lessor; and/or

(ii)        performing the obligations or exercising the rights of a credit provider in relation to a credit contract or proposed credit contract under which the licensee is not or will not be the credit provider; and/or

(iii)      performing the obligations or exercising the rights of a mortgagee in relation to a mortgage or proposed mortgage that secures or will secure obligations under a credit contract under which the licensee is not the credit provider; and/or

(iv)      performing the obligations or exercising the rights of a beneficiary under a guarantee or proposed guarantee that guarantees obligations under a credit contract under which the licensee is not the credit provider; and/or

(v)      performing the obligations or exercising the rights of a lessor in relation to a consumer lease or proposed consumer lease where the licensee is not or will not be the lessor.                                        

Are there any relationships that exist that may influence us when we provide our services?

Flux Technologies (including employees) has no associations or relationships with product issuers, that might reasonably be expected to be capable of influencing the services Flux Technologies provides other than those described in this financial services and credit guide.

Flux Technologies’ remuneration arrangements

Flux Technologies receives a share of the revenue that Mozo is paid by third party product issuers on a cost per click basis or approved application basis, when a person clicks through Flux’s website to that third party’s website, or when a person also successfully applies for a product.

Flux Technologies staff and contractors are remunerated directly by Flux Technologies and not in any way by the financial product and credit providers.

Flux Technologies and its associates do not receive any remuneration or benefits in relation to the financial services and credit activities we provide, other than disclosed in this financial services and credit guide.

Flux Technologies does not charge consumers in relation to the services we provide as an Australian Credit Licence holder. Flux Technologies provides its financial and credit services free to consumers.

Will anyone be paid for referring me to you?

Flux Technologies may pay fees to third party websites for referrals to the Flux Technologies website.

What should I do if I have a complaint or dispute?

Flux Technologies takes your complaints seriously, and is committed to trying to resolve them as quickly as possible.

To assist you in any complaints or disputes, we have:

  1. Established internal dispute resolution procedures
  2. Become a member of the Australian Financial Complaints Authority which allows you an external source of assistance if you are not satisfied with our resolution

If you wish to make a complaint about our services, in the first instance please email us at support@flux.finance.

The Flux Technologies team will respond to your complaint and seek to come to a satisfactory resolution directly with you.

If the outcome of this is not satisfactory to you, you may refer your complaint to the Australian Financial Complaints Authority (‘AFCA’) of which Flux Technologies is a member (Member Number 78391).

To find out more about AFCA and how they can assist you, please contact them as


Mail

Australian Financial Complaints Authority Limited

GPO Box 3

Melbourne, VIC 3001


Website

https://www.afca.org.au/


Phone

1800 931 678


Fax

(03) 9613 6399