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Everything you need to know about Bud.

CDR policy

Policy Overview

This Consumer Data Right (“CDR”) Policy describes how Bud APAC Pty Limited (“Bud”, “we”, “us”), will collect, use, share and protect the Personal Data that Consumers (“you”, “your”) consent to share with us, which ensures compliance with the CDR and other applicable data protection laws.   

 

The CDR and Bud

The CDR is designed to give you greater access and control over your data held by banks and other financial institutions. The CDR gives you the ability to share, with the appropriate consent, your information with third parties such as Bud.  You will remain in control of the data you share and how it is used at all times.

The purpose of sharing your data with Bud is to ensure that you have improved visibility and understanding of your finances and the opportunity to find the best products, services and prices that most suit your circumstances.  We will use the data that you share with us to:

  • Connect with and consolidate accounts from your banking or financial services providers to allow you have a comprehensive view of your finances in one place and to set financial goals
  • Provide you with the ability to  better understand your finances, create budgets and get personalised insights into your spending.
  • Enhance affordability assessments for credit products or trigger product recommendations. 

 

The Data We Collect

In order to provide you with the services outlined above, we will ask you to share data with us that your Bank is able to provide.  We will collect your data from your Bank with your consent.

The following categories of data may be collected by us:

Data Category

Data Elements

Transaction details (incoming and outgoing)

Transaction dates

Name of payee or payer

Transaction references or descriptions

Amounts

Currency and currency rate

Bank account information

Account name 

Account address

Account type

Account terms

BSB Number

Account number



Account balance and credit limits  


Interest rates

Account fees or discounts

 

Managing Your Data and Consent

We will only collect bank account information and transaction details that are necessary to provide the services that you have requested from Bud, and we will only collect that data with your consent.  We will ensure that you remain in control of your data and we will not:

  • Sell your data to another party, or 
  • Provide your data to an other Accredited Data Recipient or Outsource Service Provider for the purposes of providing goods or services without telling you first and asking for your permission.

Once we have used your data for the purposes which you have consented to, we will delete or de-identify the data.  We may be required under Australian Law to retain certain information if it has been used as part of a credit assessment process.

Sharing Your Data with Outsourced Service Providers 

To deliver the best level of service to you, we may disclose your CDR data to Outsourced Service Providers that are based in Australia. We will:

  • Only use Outsourced Service Providers that have a written agreement with us and that follow our terms and conditions
  • Ensure that your data does not leave Australia or engage any Outsourced Service Providers outside of Australia.

To provide our services to you we engage the services following Outsourced Service Providers:

Outsourced Service Provider Name

Location

Overview of Services

Bud Financial Limited 

Bud APAC’s parent company

London, UK
  • Development of  technology which is licensed to Bud APAC
  • Provides limited technical support services to bud APAC

 

Where We Store Your Data

Any data we store will be kept onshore in Australia by Bud and its Third Party or Outsourced Service Providers.

 

Resolving Your Complaints or Questions 

If you are not satisfied with the services that we have provided, have any questions or would like to access or correct any data we hold on you, you can contact us by:

  • Calling us on: +61 1800 952 587
  • Contacting us online at: https://www.thisisbud.com/
  • Emailing us at: support@thisisbud.com
  • Writing to us at: Level 16, Tower 2/201 Sussex St, Sydney NSW 2000, Australia

We aim to resolve any complaints or respond to any questions you may have as quickly as possible.  If your complaint is not resolved within 5 business days, you will receive an acknowledgment from us which will provide you with a reference number for your complaint and an expected response date, of no longer than 45 days from your original date of complaint.

Submitting a complaint to us does not prevent you from raising your issue(s) with the relevant regulatory authorities. If you are unsatisfied with the response that we have provided you with you may take your complaint to the Australian Financial Complaints Authority (AFCA) for external dispute resolution:

If you have a complaint about the way in which we have handled your personal information, you may also be entitled to raise that complaint with the Office of the Australian Information Commissioner (OAIC):