RATECITY FINANCIAL SERVICES and CREDIT GUIDE (FSCG)

RateCity Pty Limited ABN 12 122 743 542 (‘RateCity’), Australian Financial Services Authorised Representative (AR: 1309869) and Credit Representative (CRN: 559684) of
Canstar Research Pty Ltd ABN 29 114 422 909, AFSL and Australian Credit Licence No: 437917 (‘Canstar Research’)

Registered Office: RateCity is situated at Level 3, Suite 302, 52 Alfred Street, Milsons Point,
NSW 2061. Canstar Research is situated at Level 23, 275 George Street, Brisbane, QLD
4000.

Date: 16 December 2024

What is a Financial Services and Credit Guide?

This Financial Services and Credit Guide (‘FSCG”) is an important document prepared by RateCity to assist you in determining whether you wish to use any of the financial services or credit services provided by RateCity.

This FSCG also provides information about:

• who we are;
• what services and types of financial and credit products we are authorised to provide you;
• how we are paid
• any potential conflict of interest we may have; and
• our internal and external dispute resolution procedures and how you access them.

What Financial Services and Credit Services does RateCity offer?

RateCity is authorised, pursuant to its appointment as an Authorised Representative under Canstar Research’s Australian Financial Services Licence and a Credit Representative under Canstar Research’s Australian Credit Licence, to provide general financial product advice and deal and engage in credit activities. RateCity does not take into account your individual financial objectives, personal circumstances, needs or situation in providing general advice, or dealing in financial products.

RateCity provides the following financial and credit services via the RateCity website (www.ratecity.com.au), Canstar app, and distribution partner’s websites:

1. deposit and payment products including:
   
   • a. basic deposit products; 
   • b. deposit products other than basic deposit products;
   • c. non-cash payment products;
2. general insurance products,
3. life products limited to: life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds;
4. interests in managed investment schemes excluding investor directed portfolio services;
5. retirement savings accounts (‘RSA’) products (within the meaning of the Retirement Savings Account Act 1997);
6. standard margin lending facility and;
7. from 1 July 2022, securities in a CCIV;
8. superannuation.

to retail and wholesale clients.

RateCity is authorised to engage in credit activities other than as a credit provider by:

1. providing a credit service where the licensee is not or will not be:
   
   • where the service relates to a credit contract or proposed credit contract – the credit provider under the contract; or
   • where the service relates to a consumer lease or proposed consumer lease – the lessor; and/or
2. performing the obligations or exercising the rights of a credit provider in relation to a credit contract or proposed credit contract under which the licensee is not or will not be the credit provider; and/or
3. performing the obligations or exercising the rights of a mortgagee in relation to a mortgage or proposed mortgage that secures or will secure obligations under a credit contract under which the licensee is not the credit provider; and/or
4. performing the obligations or exercising the rights of a beneficiary under a guarantee or proposed guarantee that guarantees obligations under a credit contract under which the licensee is not the credit provider; and/or
5. performing the obligations or exercising the right of a lessor in relation to a consumer lease or proposed consumer lease where the licensee is not or will not be the lessor.

Our terms of service

All our services are provided on the basis of the terms of use, disclaimer and privacy policy published on our website. Please review these carefully. You will be deemed to have accepted these terms when you visit and use our website.

Who is responsible for the financial and credit services provided?

RateCity is authorised under the Corporations Act 2001 and the National Consumer Credit Protection Act 2009 to provide the services outlined in this FSCG.

Why is this guide provided to you?

Under the Corporations Act 2001, RateCity is deemed to provide general financial product advice to you through any of the above means.

RateCity materials may be distributed to you through third party intermediaries, including advisers or mortgage brokers or may be published on our website.

RateCity does not accept instructions in relation to our services directly from you.

General advice provided by RateCity does not constitute personal advice as it does not take into account your financial situation, needs and objectives.

RateCity's credit authorisation requires it to provide you with a credit guide setting out the information in this document.

Are there any relationships that exist that may influence us when we provide advice?

RateCity is not owned by any financial product issuer. RateCity may provide some product issuers with referrals and advertising placements. It has partnership arrangements with third parties in relation to data supply. For more details see below.

Canstar Pty Limited ABN (21 053 646 165) (‘Canstar’) is the majority shareholder in RateCity. Canstar provides product data and other services to RateCity. RateCity provides technology services to Canstar. Canstar Research is a subsidiary of Canstar. 

Mr Mark Gracey is Managing Director and CEO of Canstar, and a Director of RateCity and Canstar Research. Mr Lachlan Given is a non-executive Director of Canstar and also a Director of RateCity. Mr Jeremy Willink is an alternate Director of Canstar and is a related party of RateCity’s shareholders.  Andrew Willink is a Director of Canstar and Canstar Research and a shareholder of RateCity.

ANZ Bank is Canstar Group’s primary banker,  all dealings with ANZ in this capacity are managed by Canstar’s corporate office and the banking relationship has no influence on RateCity’s research or ratings.

Staff remuneration, commissions and other benefits

RateCity employees receive a salary and do not receive remuneration, commissions or other benefits from any product issuers. RateCity employees may be eligible for an annual performance payment which is discretionary and based on reaching agreed performance levels.

How are any commissions, fees or other benefits calculated for providing the financial services and credit services?

For an overview of our remuneration please refer to: How we make money

You may request particulars of fees applicable to a service that you are interested in purchasing by contacting RateCity directly.

Will anyone be paid for referring me to you?

RateCity may pay third parties who refer people to our website or from RateCity content displayed on third party websites.

Are there adequate compensation arrangements in place?

RateCity holds Professional Indemnity insurance for the purpose of compensation should this become relevant. Representatives who have left RateCity’s employment are covered by our insurances in respect of events occurring during their employment. These arrangements and the level of cover held by RateCity satisfy the requirements of section 912B of the Corporations Act 2001.

What should I do if I  have a complaint

Should you wish to lodge a complaint about the service provided by RateCity you should send an email to our Complaints Officer at [email protected] or visit our Complaints page for more information. 

We have established procedures to ensure that all complaints are properly considered and dealt with. Complaints relating to financial or credit products may be referred to the product provider, as required by legislation.

If you are not satisfied with our response,, you may lodge a complaint with the Australian Financial Complaints Authority. 

Online: www.afca.org.au

Email: [email protected]

Phone: 1800 931 678

Mail:  AFCA Service Complaints

Australian Financial Complaints Authority

GPO Box 3, Melbourne VIC 3001