Using Credit Sense

What is Credit Sense?

Credit Sense is a service used by CFS Finance to facilitate automatic bank statement retrieval during the CFS Finance online loan application process.

Credit Sense is an Australian owned and operated company based in Brisbane and is used by a number of leading Australian and New Zealand lenders to ensure that credit provider assessments of customer transaction histories are consistent, fair, compliant and efficient.

New Zealand credit providers such as CFS Finance are obligated to make reasonable inquiries about their customer’s personal situation and be satisfied that the products they are offering are not unsuitable. This enables CFS Finance to engage our customers with a clearer understanding of their financial situation and more accurately assess the suitability of our products for our customers. Credit Sense assists CFS Finance to comply with all obligations to our potential customers required by law under the Credit Contracts and Consumer Finance Act 2003.

During the CFS Finance Loan Application process you will be asked to input your online banking details so that a summary of your last 90 days bank statement can be retrieved for automatic analysis.

Please note: During this process your online banking details are not stored by either CFS Finance or Credit Sense. To learn more about the Credit Sense service please visit To view Credit Sense's privacy policy please click here.

Frequently Asked Questions

Q: Do I need my bank statements?
A: No. CFS Finance offers its potential customers the ability to submit their last 90 days of bank transaction history through the Credit Sense service.

Q: How do you access my bank statement transactions?
A: CFS Finance is granted encrypted access to your bank statement transactions through Credit Sense and your Internet banking service provider. During the CFS Finance Loan Application process you will be required to choose your bank, then enter your Internet banking user ID and password. Credit Sense will download the last 90 days of transaction history and perform the automatic categorisation that CFS Finance requires.

Q: How do I know that my Internet banking will remain secure?
A: We do not keep your Internet banking user ID or password. Your user ID and password is encrypted when you enter it, passed to your bank once to gain access to your transaction history and then permanently deleted. If you need to use us again, you will need to re-enter your user ID and password.

Q: How do I know my transaction history will remain 
A: Your transaction history is encrypted whilst with Credit Sense and delivered to CFS Finance using secure protocols.

Q: What else can I do to protect my bank accounts from third party access?
A: Your user ID and password are encrypted by Credit Sense as you enter them, once your transaction history has been obtained it is also encrypted and your user ID and password are permanently deleted. If you are still concerned, you could simply change your Internet banking password after using the Credit Sense service.

Q: Can other credit providers get a copy of a past assessment?
A: No. Only the credit provider (CFS Finance Ltd) who orders the assessment can obtain a copy of the assessment. Because Credit Sense does not maintain any identifiable information about credit provider applicants it cannot independently identify your assessment to provide it to other third-party credit providers.

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