• 1.1. The Loan Enquiry System allows you to:
  • obtain information regarding your Account;
  • request a redraw of an amount from your Account;
  • draw down funds from your Line of Credit Account; or
  • access other services we make available from time to time.

  You can access these services either by internet via our website, or by other forms of access we make available from time to time.

• 1.2. Your entitlement to redraw or draw down an amount from your Account is governed by the terms and conditions of your Account and nothing in these terms and conditions is intended to vary that entitlement in any way.

• 1.3. Redraws or drawdowns made are subject to a maximum daily transaction limit of $20,000.00. This daily limit may change from time to time.

• 1.4. The first time that you or a person authorised by you use the Loan Enquiry System, you automatically agree to these terms and conditions.

• 1.5. We may change, suspend or vary the Loan Enquiry System or your access to the Loan Enquiry System at any time and without notice subject to any applicable laws or relevant codes of conduct. We do not warrant that the Loan Enquiry System will operate at any particular time.

• 1.6. If the Loan Enquiry System is not available for any reason, you should use other means of obtaining information regarding your account or effecting a redraw or draw down.

• 1.7. We may charge you fees relating to transactions made by you on the Loan Enquiry System. You authorise us to debit your Account with these fees. We may introduce or vary these fees from time to time.

• 1.8. Only cleared funds are available for redraw or draw down, therefore, funds deposited in your Account are usually not available for redraw or draw down until 5 Banking Business Days after the date of deposit.

• 2.1. You will be sent your specific details for using the Loan Enquiry System. This information will allow you to use the Loan Enquiry System to obtain information regarding your Account. However, in order to access the full functionality of the Loan Enquiry System you will need to complete an online registration process.

• 2.2. If we accept your registration, we will allow you full access to the functions of the Loan Enquiry System.

• 2.3. You (or each of you if there is more than one of you) will be provided with a Customer ID and a password.

• 2.4. If there is more than one of you, then you authorise each other to use the Loan Enquiry System on behalf of all of you. You will be bound by all transactions made by any one of you.

  
  WARNING: Generally any borrower will be entitled to use any of the facilities offered by the Loan Enquiry System. Accordingly each Account holder can bind each other Account holder. Any of you will be able to access the Account and all of you will be obliged to repay any and all debt even if each of you did not benefit equally from the funds. You should maintain significant security in relation to the Loan Enquiry System.
  
  WARNING: ACCOUNT AGGREGATION SERVICES. Some companies provide account aggregation services that allow you to view Account information from different institutions on the one webpage. To use an account aggregation service, you are usually required to give the service provider your Account details and your access codes. We do not endorse, promote or authorise the use of account aggregation services in connection with your Account(s). Remember that if you disclose any access code to another person, you will be liable for any transactions on your Account(s) made by that person using that access code.

• 3.1. Your Account number or your Customer ID and the password that we provide you with are together called your ‘access codes’ and are used for the purpose of accessing the Loan Enquiry System. You must keep all access codes secure. In particular, you must do the following:

  • safeguard yourself by installing and maintaining up to date internet security software on devices used to access the Loan Enquiry System;
  • memorise your access codes, you must not record your access codes in written or electronic form and destroy any correspondence notifying you of an access code;
  • for any access code that you select, do not use any number or letter combination that is unsuitable. Unsuitable access codes include:
    • birth dates, months or years;
    • sequential numbers;
    • number combinations that may be easily guessed;
    • parts of your telephone number;
    • parts of numbers in the order on which they appear on any of your cards;
    • passwords used by you for any other services;
    • other easily accessible personal data (e.g. driver licence); or
    • family, pet or street names.
  • ensure that your access codes are not disclosed to any person (including friends, family and persons of authority such as the police);
  • avoid your access codes being observed, recorded or copied when accessing the Loan Enquiry System;
  • not leave your computer or electronic device (including a phone device) unattended while logged in to the Loan Enquiry System; and
  take all reasonable steps to protect the security of your access codes.

• 3.2. We can cancel any access code at any time without notice if we believe it is being used in a way that can cause loss to you or to us.

• 3.3. You must tell us immediately if you suspect that any access code is known to a third party, or if there has been any unauthorised access or activity on your Account.

• 3.4. In addition to the above obligations, when using a phone device to access the Loan Enquiry System on the internet, you must safeguard yourself by:

  • locking your device or taking other measures to stop unauthorised use of the Loan Enquiry System; and
  • notifying us as soon as possible if your device is lost or stolen or if you change your device.

• 4.1. When you use the Loan Enquiry System and give us your access codes you authorise us to provide information regarding your Account or act on your instructions and to pay any redrawn or drawn down amount into your Nominated Account. We need not pay any such amount in any way other than by deposit into your Nominated Account.

• 4.2. If we accept your Loan Enquiry System request for a redraw or a drawdown of funds, we will use our best endeavours to ensure that this amount is deposited in your Nominated Account within 2 banking business days.

• 4.3. You must not use email to send us any notices or requests that may be required under these terms and conditions or the terms and conditions applying to your Account.

• 4.4. We (or our agents or contractors) own the proprietary and intellectual property rights in the Loan Enquiry System, despite any ability you may have to download or modify information.

• 4.5. You are responsible for the installation and maintenance of any equipment you require to access the Loan Enquiry System.

This clause does not apply to a Business Account. If you hold a Business Account, you will be liable for all transactions on your Business Account, whether authorised by you or not.

• 5.1. You will be liable for all losses we or any third party may incur where you, either alone or together, with another person, act fraudulently or negligently.

• When you are not liable for losses

• 5.2. If you inform us as promptly as is reasonably possible that any of your access codes are or may be known to a third party, or that there has been an unauthorised access to your access codes or your Account on the Loan Enquiry System, you will not be held responsible for any loss, unless you have acted fraudulently (including fraud committed by your employees, agents or officers), negligently caused or contributed to that loss or you have failed to comply with these terms and conditions.

• 5.3. You are also not liable for losses:
  • if it is clear that you have not contributed to the loss;
  • that are caused by faults or malfunctions occurring in Loan Enquiry System software, excluding any fault that is obvious or has been advised;
  • if the unauthorised transaction took place before you are able to access the Loan Enquiry System for the first time or during any period we prevent you from accessing the Loan Enquiry System; or
  • that are caused by the fraudulent or negligent conduct of our employees or agents.
• When you are not liable for losses
• 5.4. If you have contributed to the loss resulting from unauthorised transactions by:
  • user error;
  • voluntarily or negligently disclosing any access code to any person;
  • providing us with incorrect information;
  • failing to comply with these terms and conditions;
  • keeping a written or electronic record of any access code (except in a secure facility acceptable to us) Loan Enquiry System;
  • using a computer or device that does not have protective software and an operating system installed and reasonably up to date;
  • failing to take reasonable steps to ensure that the protective systems installed on the computer or device used by you such as virus scanning, firewall and anti-spyware are up to date;
  • failing to advise us as promptly as is reasonably possible that you are aware that a third party has accessed the Loan Enquiry System or that an unauthorised transaction has occurred; and
  • leaving your computer or device unattended when logged on to the Loan Enquiry System,
  
  then you may be liable for the lesser of:
  • the actual loss at the time of notification to us; or
  • the balance that would have been available for withdrawal between the time of unauthorised access and the time you notified us.

• 5.5. Your access to the Loan Enquiry System may be automatically denied after unsuccessful attempts to enter the relevant access codes. If this happens, you must contact us to obtain access to the Loan Enquiry System.

• 5.6. We are not liable for any direct or consequential loss or damage you suffer as a result of any delay or error in carrying out your instructions, a malfunction of any equipment, by your use of or inability to access the Loan Enquiry System at any time (including any equipment that we or a third party uses to make the Loan Enquiry System available), or by any other circumstance beyond our reasonable control.

  Our liability to you
• 5.7. We will reimburse you for direct losses incurred by you that are caused by any of the following:
  • any act of fraud or negligence by our employees or agents;
  • a security breach of the Loan Enquiry System where we have failed to take reasonable care; and
  • an unauthorised transaction where it is clear the loss was not caused or contributed to by you.

• 6.1. We may change these terms and conditions at any time by giving at least 14 days’ notice in writing, such change to take effect from the date specified in the notice.  We will notify you of the change by notice when you log into the Loan Enquiry System. 

• 7.1. We provide access to the Loan Enquiry System on behalf of the Lender which entered into the loan agreement only in its capacity as a trustee of a trust and in no other capacity.   

• 7.2. Any liability or obligation of the Lender arising under or in connection with this agreement is limited to and can be enforced against the Lender only to the extent to which it can be satisfied out of the assets of the trust out of which the Lender is actually indemnified for the liability.   

• 8.1. These terms and conditions are governed by New Zealand law and the courts of New Zealand have jurisdiction.  

• 9.1. The following terms have the meanings set out below unless the context otherwise requires.
  
  • Access Codes means your Account number which is set out in the schedule to your loan agreement or your Customer ID, together with your password.
  • Account means your Loan Account or Line of Credit Account identified in the schedule to your loan agreement.
  • Banking Business Day means any day on which banks in Sydney or Auckland are able to effect settlement through the Reserve Bank of Australia or the Reserve Bank of New Zealand.
  • Business Account means an Account which is primarily used by a business and is established for business purposes.
  • Customer ID means the customer identifier we provide to you.
  • Lender means the lender identified in the schedule to your loan agreement.
  • Line of Credit Account means your line of credit account as identified in the schedule.
  • Loan Enquiry System means the system described in clause 1.1.
  • Nominated Account means the transaction account linked to your Loan Account or Line of Credit Account which you notify to us from time to time as the account into which we deposit funds which are redrawn or drawn down from your Loan Account or Line of Credit Account.
  • We, us or our means Resimac NZ Home Loans Limited, its related entities, subsidiaries, successors, assigns, agents and associates.
  • You means the person identified in the schedule as borrower and if there is more than one, means each of you jointly and severally. You includes any person who uses the Loan Enquiry System in respect of the Account and gives us your Access Code.
• 9.2. A reference to:
  
  • this agreement or another instrument includes
  • any variation or replacement of any of them;
  • the schedule means the schedule to this agreement;
  • the singular includes the plural and vice versa;
  • a person includes a firm, body corporate, and
  • unincorporated association or an authority and
  • their executors, administrators, successors,
  • substitutes (including, without limitation, persons
  • taking by novation) and assigns;
  • anything includes the whole and each part of it
  • and a reference to a group of persons includes all
  • of them collectively, any two or more of them
  • collectively and each of them individually.
• 9.3. Headings are inserted for convenience and do not affect the interpretation of this agreement.