During the Good Loans application process, you will need to provide us with three months’ worth of statements for all bank accounts you use.
This allows us to verify you can afford the loan you are applying for.
We may offer you the option of providing us with your statements electronically, using Credit Sense.
We use Credit Sense as an online service to automatically download and analyse our clients’ bank statements during the loan application process.
This saves our clients having to download the statements and email them to us themselves, and saves us time in handling and analysing them.
Credit Sense is an Australian owned and operated company and is used by a number of Australian and New Zealand lenders to ensure that their assessments of customer transaction histories are consistent, fair, compliant and efficient.
If you agree to provide us with access to your bank statements using Credit Sense we will email you a link to the Credit Sense website.
When you open the link we emailed you, you will be asked to choose your bank and enter your banking login and password.
Credit Sense will securely email us a copy of three months worth of bank statements along with a summary of information from those bank statements.
During this process your online banking details are not stored by us or Credit Sense.
To learn more about Credit Sense services please visit www.creditsense.com.au.
To learn about your rights and responsibilities as a Good Loans client please click here.
Frequently asked questions
No. Credit Sense will obtain these from your bank and provide 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 user ID and password.
Credit Sense will download the last 90 days of transaction history and perform an automatic categorisation of your transactions.
These will then be securely provided to Good Shepherd NZ.
Good Shepherd NZ and Credit Sense do not keep your Internet banking user ID or password. Your user ID and password is encrypted when you enter it, passed to your bank once to gain access to your transaction history and then permanently deleted.
If you need to use Credit Sense again, you will need to re-enter your user ID and password.
Your user ID and password are encrypted by Credit Sense as you enter them and once your transaction history has been obtained it is also encrypted and your user ID and password are permanently deleted.
Even with this level of security, you should be aware that your bank will have policies about not disclosing your login and password to third parties and 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 simply change your Internet banking password after using the Credit Sense service
Your transaction history is encrypted whilst with Credit Sense and delivered to Good Shepherd NZ using secure protocols.
No. Only the credit provider (Good Shepherd NZ) who orders the Credit Sense assessment can obtain a copy of the assessment. Because Credit Sense does not maintain any identifiable information about you it cannot independently identify your assessment to provide it to other third-party credit providers.
Yes of course. If we can accurately identify you, a copy of the Credit Sense report is yours. Just ask your Good Loans Advisor.
Credit Sense only provides your bank statements to us, they do not assess your loan application.
If you need an update on the progress of your loan, you will need to speak to your Good Loans Advisor.