Financial Services & Credit Guide
Savings.com.au Pty Ltd ACN 161 358 363
05 March 2019
Savings.com.au Pty Ltd ACN 161 358 363 operates as an Australian Financial Services Authorised Representative, No. 001274414 and an Australian Credit License Credit Representative, No. 514874 of Firstmac Limited (ABN 59 094 145 963), Australian Financial Services Licence (AFSL) and Australian Credit Licence No: 290600, both of Level 40, 123 Eagle Street, Brisbane Qld 4000.
This document incorporates our Financial Services Guide (FSG) and Credit Guide (CG) and is a key document prepared by Savings.com.au to help you to decide whether to obtain any of the products or services provided by Savings.com.au. It provides important information about:
- Who we are
- The products and/or services we may offer
- Associations we have that may influence the information we provide (conflicts)
- How we generate revenue
- Compensation Arrangements
- Our dispute resolution processes
- How to contact us
Who is Savings.com.au?
Savings.com.au is a digital publisher whose primary purpose is to help everyday Australians save money. Whether it be to help people get those savings ‘up-front’ when they buy something, or the cumulative savings made over time which help people to build their future position, Savings.com.au was born out of the growing need for practical and common sense ways to save.
Savings.com.au is part of the Firstmac Group. Firstmac is a challenger in the market with more than $10 billion in loans under management. Over the last 40 years, Firstmac has provided over 100,000 home loans to everyday Australians. International ratings agency Standard & Poor’s awards Firstmac its highest possible ranking for loan servicing.
Being part of the Firstmac Group means that Savings.com.au has a number of ‘sister’ brands including the online lender, ‘Loans.com.au’. The separation of editorial content and commercial interests in the context of the broader group is paramount for Savings.com.au. This means that it takes proactive steps to manage group commercial influence over the Savings.com.au operation. This can be read about further in our published Conflicts of Interest declaration on the Savings.com.au website.
In essence, Savings.com.au sister brands will be treated in the same manner as any other product provider looking to connect with the Savings.com.au audience. If the Savings editorial team judge that products from a sister brand do not meet the purpose test of ‘helping consumers save money’, then they will not be included in editorial content.
Our Licensing & Authorisations
Savings.com.au operates under the Australian Financial Services License (AFSL) and Australian Credit License of Firstmac Limited. These licensing regimes require material effort to ensure that Savings.com.au remains within their strict compliance frameworks – a responsibility which Savings.com.au takes very seriously.
Any information is intended to be general in nature. It is not intended to be specific to an individual’s personal circumstances. And whilst we will create and provide access to handy tools such as calculators, infographs and succinct tables to help the audience make better decisions to help them save money, Savings.com.au will never recommend a single product as being appropriate to an individual’s specific and personal needs and circumstances.
Savings.com.au encourages members of its audience to speak with a financial adviser should they wish to discuss their own personal circumstances and needs.
What Financial Services are offered?
Savings.com.au is authorised, through its appointment as an Australian Financial Service Authorised Representative No. 001274414 of Firstmac Limited, No. 290600, to provide general financial product advice and deal in deposit and payment products such as term deposits and savings accounts.
Savings.com.au is authorised through its appointment as an Australian Credit License Credit Representative No. 514874 of Firstmac Limited, No. 290600 to engage in credit activities other than as a credit provider.
Who is responsible for the financial services provided?
Savings.com.au is appointed as an Authorised Representative No. 001274414 ) by Firstmac Limited ABN 59 094 145 963, Australian Financial Services Licence 290600, under the Corporations Act and Australian Credit Licence No: 290600 under the National Consumer Credit Protection Act 2009 to provide the services outlined in this Financial Services and Credit Guide.
Under the Corporations Act, Savings.com.au may provide general financial product advice to you even though it does not deal directly with you. Savings.com.au content may be distributed to you through its website and other digital channels such as Social Media and where consent is held or obtained, email.
General advice provided by Savings.com.au does not constitute personal advice as it does not take into account your financial situation, needs and objectives. Savings.com.au’s credit licence authorisation requires it to provide you with a credit guide setting out the information in this document.
Does Savings.com.au have any potential conflicts of interest that may influence it?
Savings.com.au content will always be researched, written and appropriately approved according to regulatory requirements, journalistic methods and in an objective manner in order to identify the money saving opportunities and products that it judges are worthy of consideration for its audience, consistent with its purpose of “helping people save money”.
Content is curated on which people in the community are searching for answers. If this content generates opportunities for the Savings.com.au team to connect the ensuing audience to products that it believes align with the contextual purpose of the content, then it will publish those products and consider a commercial relationship with the product provider/s. Importantly, Savings.com.au often publishes products which have no commercial relationship in place with a product provider.
Additionally, products provided by the Firstmac Group shall be assessed using the same journalistic methods as those of any other product provider and, like any other third party, shall only be included within Savings.com.au editorial content where those products are judged by the non-commercial Savings.com.au teams as good savings options for the audience.
How we generate revenue
Savings may receive fees in relation to the following:
- Fees for referrals from a product or product provider table on the Savings.com.au website and other digital properties including but not limited to social media and email. The fees can be calculated via a number of different methods including by number of referral clicks, number of leads created from supplied referral clicks, number of applications (both preliminary and approved) and fixed sponsorship fees
- Advertising placements on Savings.com.au’s website: Savings.com.au may receive a fee from the advertiser for display of an advertisement on the Savings.com.au website and/or other digital entities including but not limited to social media and email
- Sponsored content placements on Savings.com.au’s website: Savings.com.au may receive a fee from the advertiser for display of sponsored content on the Savings.com.au website and/or other digital entities including but not limited to social media and email
Firstmac Limited holds a professional indemnity insurance which satisfies the requirements for compensation arrangements under section 912D of the Corporations Act. Subject to its terms and conditions, the policy provides cover for civil liability resulting from third party claims concerning the professional services provided by Firstmac Limited and its employees and authorised representatives, including where that employee or authorised representative has subsequently left Firstmac Limited.
What to do if you have a complaint about us
Should you wish to lodge a complaint about Savings.com.au or our services, please notify us in writing at our Contact us address, by email to firstname.lastname@example.org addressed to the Complaints Officer or by calling Firstmac Limited on 13 12 20.
Our policy is to immediately seek to resolve and acknowledge receipt of complaints. We will then investigate the complaint and decide what action (if any) to take. Our decision will be communicated to you within 45 days.
If you are not satisfied with how your complaint has been resolved you may contact the external dispute resolution scheme, the Australian Financial Complaints Authority (AFCA), details below.
Australian Financial Complaints Authority
How to contact us
If you have any questions or would like more information about this FSG and CG, you can contact us as follows
Updated 5 March 2019