During the Good Loans process, including the DEBTsolve Programme, we need the last three months of your bank statements to help understand your financial situation and confirm whether a loan is affordable.
We use Credit Sense as a third party online service to access and analyse your bank transactions.
Using Credit Sense saves you from having to download your bank statements and email them to us yourself, plus it saves us time in handling and analysing them.
How Credit Sense works:
1. You agree to provide Good Shepherd NZ access to the last 90 days of your bank transactions using Credit Sense
2. We email you a link to Credit Sense
3. You open this link, choose your bank, and enter your internet banking login and password
4. Credit Sense will securely provide us the last 90 days of your bank transactions and a categorised summary report from those transactions
Your online banking details, such as your username and password, are encrypted then deleted – so no one except you and your bank has access to this personal information.
Credit Sense is an Australian company used by several lenders to ensure their assessments of bank transaction histories are consistent, fair, compliant and efficient.
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Frequently asked questions
Credit Sense gets your bank transactions from your bank and provides them to Good Shepherd NZ.
Good Shepherd NZ is granted encrypted access to your bank statement transactions through Credit Sense and your Internet banking service provider.
When you follow the link to the Credit Sense website you will be required to choose your bank, then enter your Internet banking username and password.
Credit Sense will download the last 90 days of bank transactions and categorise these transactions into a report.
These will then be securely provided to Good Shepherd NZ.
Good Shepherd NZ and Credit Sense do not have access to, or the ability to keep or store, your Internet banking details including your username or password.
Your username and password are encrypted as you enter them, passed to your bank once to gain access to your transaction history and then permanently deleted. Plus, once your transaction history has been obtained it is also encrypted.
If you need to use Credit Sense again, you will need to re-enter your username and password.
Even with the encryption security described in the point above, you should be aware that your bank will have policies about disclosing your login and password to third parties.
Some banks MAY decide that entering your banking login and password into the Credit Sense website breaches those policies.
We encourage you to talk to your bank about this if you have any concerns.
You could also choose to change your Internet banking password after using the Credit Sense service.
Your bank transactions are encrypted whilst with Credit Sense and delivered to Good Shepherd NZ using secure protocols.
Only Good Shepherd NZ is given a copy of your bank transactions, for the purposes of a Good Loan application or the DEBTsolve programme (or another Good Shepherd NZ support programme).
Once we can accurately identify you, we can provide a copy of your Credit Sense report if you request it.
Credit Sense only provides your bank transactions to us, they do not assess your loan application.
Please ask your Good Loans Advisor if you have any questions about your loan application.