IVF Pay Pty Ltd ABN: 86 693 531 958
Australian credit licence 576437 · Issued in accordance with section 126 of the National Consumer Credit Protection Act 2009 (Cth)
IVF Pay Pty Ltd
ABN: 86 693 531 958
Australian credit licence 576437
IVF Pay Pty Ltd ("IVF Pay", "we", "us" or "our") is a specialist consumer credit provider focused exclusively on fertility treatment finance. We are based on the Gold Coast, Queensland, and provide services to customers Australia wide.
This Credit Guide has been prepared in accordance with section 126 of the National Consumer Credit Protection Act 2009 (Cth) (NCCP Act). We are required to give you this Credit Guide as soon as practicable after it becomes apparent that we are likely to enter into a credit contract with you.
This guide tells you:
Please keep a copy of this Credit Guide for your records.
IVF Pay provides personal loan products designed specifically to assist individuals and couples with the cost of fertility treatment in Australia, including IVF, IUI, and other assisted reproductive procedures.
We act as the credit provider. We do not act as a broker and we do not receive commissions from third parties in connection with the loans we provide.
As a holder of an Australian credit licence, we are required by the NCCP Act to comply with responsible lending obligations. This means we must not enter into a credit contract with you that is unsuitable for your needs and circumstances.
A credit contract will be unsuitable for you if:
Your protection: We are prohibited by law from entering into a credit contract that is unsuitable for you. If we assess that a loan would be unsuitable for your circumstances, we will not proceed with the application.
Before entering into a credit contract with you, we are required to make reasonable enquiries about your financial situation and take reasonable steps to verify the information you provide. Our assessment process includes:
We offer a pre-approval assessment that indicates the maximum amount you may be able to borrow before you commit to a specific treatment cycle. A pre-approval is not a guarantee of final approval. Final approval is subject to confirmation of your treatment plan and a full credit assessment.
You have the right to request a written copy of our assessment of the suitability of any proposed credit contract at any time up to seven years after we give you the credit contract. We must provide this to you within 7 business days if you make the request within 2 years of the contract date, or within 21 business days if you request it after that.
To request a written copy of your credit assessment, please contact us using the details in this guide.
The following fees and charges apply to our personal loan product. All fees are disclosed to you before you enter into any credit contract and are included in your loan documents.
| Fee Type | Amount | When Charged | Description |
|---|---|---|---|
| Establishment Fee | $100 – $150 | At loan settlement | A one-time fee charged when your loan is established. The exact amount will be disclosed in your loan contract prior to signing. |
| Monthly Account Fee | $10 per month | Monthly | An ongoing monthly fee for the administration and maintenance of your loan account. |
| Interest | 10% p.a.* | Monthly (accrued daily) | Interest is calculated on the outstanding loan balance. See below for full details. |
| Early Repayment Fee | $0 | N/A | We do not charge any fee for early repayment or loan payout. |
| Redraw Fee | N/A | N/A | Redraw is not available on this product. |
* Current founding member rate. Subject to change for future applicants. Your rate will be locked in at the time of your loan contract.
Our current interest rate for personal loans is 10% per annum (the "founding member rate"). This is a fixed rate for the life of your loan.
Interest is calculated daily on the outstanding loan balance and charged monthly. The formula used is:
Daily interest = Outstanding balance × (Annual rate ÷ 365)
A comparison rate helps you understand the true cost of your loan by combining the interest rate and most fees into a single figure. The comparison rate for our loan product will be disclosed in your loan documents prior to signing, calculated in accordance with the National Credit Code.
You may apply to switch to interest only repayments for up to 12 months during the life of your loan. During an interest only period, you will only be required to pay interest — your principal balance will not reduce. At the end of the interest only period, your repayments will adjust to repay the remaining principal and interest over the remaining loan term. This option is available to help customers manage repayments during fertility treatment, recovery or periods of reduced income.
Under the NCCP Act, we are prohibited from entering into a credit contract with you that is unsuitable for your financial situation and objectives. This is a legal obligation — not just a policy.
If we assess that a loan product would be unsuitable for you, we will:
What this means for you: You have the right to apply for credit, but you also have the right to be protected from credit that is not appropriate for your circumstances. We take this obligation seriously.
We understand that circumstances can change. If you are experiencing financial difficulty and are unable to meet your loan repayments, you have the right to apply for a hardship variation under the National Credit Code.
You can notify us of your hardship verbally or in writing. You may request to:
Once we receive a hardship notice, we will acknowledge it promptly and work with you to find a suitable arrangement. We will respond within 21 days of receiving your request.
Free, independent financial counselling is available through the National Debt Helpline on 1800 007 007 or at ndh.org.au.
We are committed to resolving any concerns or complaints quickly and fairly. If you are not satisfied with our service or a decision we have made, please follow the steps below.
In the first instance, please contact us directly to discuss your concern. Most issues can be resolved quickly at this stage.
We will acknowledge your complaint within 5 business days and aim to resolve it within 30 days. If we are unable to resolve it within 30 days, we will notify you with a new expected resolution date.
If your complaint is not resolved to your satisfaction, you may request that it be escalated to our Complaints Officer at the same contact details above.
If we are unable to resolve your complaint to your satisfaction within 30 days, or if you remain dissatisfied with our response, you have the right to refer your complaint to the Australian Financial Complaints Authority (AFCA) — a free and independent external dispute resolution scheme.
Phone: 1800 931 678 (free call)
Email: info@afca.org.au
Website: www.afca.org.au
Post: GPO Box 3, Melbourne VIC 3001
AFCA can help with complaints about credit products and services. There are time limits to lodge a complaint with AFCA. Generally, you must lodge your complaint within 6 years of first becoming aware of the problem.
If you have any questions about this Credit Guide or our products and services, please don't hesitate to get in touch.