Frequently Asked Questions

How do I automatically reinvest my returns?

OurMoneyMarket has provided all investors with a free OurMoneyMarket Auto Invest feature. To use this feature simply login to your personal OurMoneyMarket investor dashboard and click on the “Auto Invest” option in the menu bar. You can then configure the automatic reinvestment criteria so that it suits your investment portfolio needs.

How do I withdraw funds?

To withdraw funds simply login to your personal OurMoneyMarket investor dashboard and click "Transfer Funds" from the main bar. Then click “Withdraw”. You can withdraw some or all of the funds identified as Available Funds. The minimum amount for any withdrawal is $50, or the remaining balance of your account.

You are not able to withdraw any funds that are currently committed to an outstanding Loan Unit or have been committed to a Loan Unit, but has not yet received 100% funding.

Please read our Product Disclosure Statement for more information on how to withdraw investor funds.

How long does it take before my investment order is completed?

It can take between 1 and 14 days for an investment order to be completed. In the event that after 14 days a borrower is still unsuccessful in attracting 100% funding for their loan request. OurMoneyMarket will return these funds to your OurMoneyMarket Account.

What happens if my funds are required to remain allocated to a Loan Unit beyond my initial investment term?

In the unlikely event that your funds are committed for a longer term, you will continue to receive repayments of principal and interest over the course of the extended period. In some cases, you may be rewarded with a higher rate of return due to the extended term of your investment.

How do OurMoneyMarket manage collections?

OurMoneyMarket takes its responsibilities for managing the day to day operations of the OurMoneyMarket Investment Trust very seriously, which is why OurMoneyMarket has put in place a clearly defined and proactive process with regards to debt collection. This includes, but is not limited to, proactive SMS notifications on upcoming scheduled repayments, mandatory direct debit arrangements on borrower’s primary income accounts and real-time analytics on loan performance.

In the event that a loan is in arrears for greater than 120 days OurMoneyMarket will consider the loan to be in default and a “charged-off” status will appear on that Loan Unit. In some cases, the loan may be sold to a third-party debt collection agency after 90 days in which case any proceeds from the sale (after deducting OurMoneyMarket’s expenses) will appear as a payment in the investors OurMoneyMarket Account.

What happens if a borrower repays their loan early?

If a borrower repays their loan early you will receive your invested funds back earlier than expected. The funds will appear in your OurMoneyMarket Account as Available Funds for re-investment or withdrawal.

If I invest in a loan can I then sell that loan at a later date to get my money back?

No. At present OurMoneyMarket does not offer investors the ability to sell their investments in Loan Units. Meaning that once an investor has committed funds to a Loan Unit, these funds can only be redeemed at the earlier of the loan being repaid or maturity of the loan.

We are however working on this and will notify investors via our Product Disclosure Statement, on our website, and here, if this changes.

What does it mean if I have a loan that is in "arrears" or "delinquent"?

A loan that is displaying a status of “arrears” or “delinquent” means the borrower has missed a repayment on their loan. Any borrower that misses a payment is immediately contacted by OurMoneyMarket with the expectation that the amount in arrears will be repaid.

What does it mean if I have a loan that is "charged-off"?

A loan status of “charged-off” means that the borrower has defaulted on its loan obligations. This may be due to a number of unforeseen circumstances including, but not limited to, the borrower experiencing bankruptcy, loss of job and/or a serious illness. It also means that despite its best efforts OurMoneyMarket may have been unable to collect on any outstanding debts due by the borrower, which ultimately results in a capital loss to the investor.

OurMoneyMarket will attempt to sell any loans that have been charged-off to a debt collection agency of OurMoneyMarket’s choice. In such circumstances investors may recover some of the initial capital loss on the loan. This will appear as a payment in an investor’s OurMoneyMarket Account.

Is OurMoneyMarket a bank?

OurMoneyMarket is not a bank. OurMoneyMarket is not authorized under the Banking Act, is not supervised by the Australia Prudential Regulation Authority, and your investment in loans made available through the OurMoneyMarket Investment Trust is not covered by the Financial Claims Scheme or depositor protection provisions in section 13A of the Banking Act. Any cash you hold in your personal OurMoneyMarket Account will however be covered by the Financial Claims Scheme, as this is held with a reputable Australian authorised deposit-taking institution.

OurMoneyMarket is also a branchless operation. Our entire business is online, operating off the latest cloud-based technology, meaning we’re open 24/7.

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