At Paywise, we stand firmly on the principles of integrity, transparency and an unwavering dedication to excellence in all our Member interactions. We commit ourselves to responsible business practices, ensuring that every Member receives clear, comprehensive information about our products, and benefits from exceptional care.
Transparency.
With all Paywise products, a Member’s journey with us begins with a promise of clarity. For Novated Leases, we provide an in-depth proposal that clearly outlines:
- Finance Costs: All lease payments are clearly detailed upfront.
- Lease Terms: We specify the duration and conditions, and highlight the potential negatives of leaving a lease early, such as financial implications and possible fees, ensuring Members understand the full scope of their commitment.
- Residual Values: From the outset we clearly disclose the residual balance that will be due at lease-end, using ATO guidelines.
- Salary Deductions: We explain how the lease will impact a Member‘s take-home pay, ensuring full awareness and planning.
- Vehicle Running Costs: A detailed account of expected expenses, such as fuel, maintenance, and insurance, is provided. Budgets are tailored to the Member’s vehicle and driving habits, with the ability to adjust as needs change.
- Employee Savings and Tax Benefits: A breakdown of potential savings on tax and vehicle-related expenses is clearly presented, including how the lease could lead to reductions in taxable income.
- Risk Protection: We offer options for added security, with all choices made based on full knowledge and consent.
Our agreements are designed to provide total transparency, covering the entire monthly lease cost including selected insurances, administration fees, and any other potential expenses. This ensures that our Members have a complete understanding of their financial commitment, with no surprises down the line.
Commitment to Responsible Practices.
Our approach is to ensure that every product we offer is a good fit for the Member. This involves a comprehensive suitability assessment for each application, where we encourage applicants to seek independent financial advice to further ensure they are making the best decision for their circumstances. Our processes include rigorous reliability and suitability checks, offering peace of mind that choosing Paywise is a sound decision.
Member Care.
Our dedication to providing outstanding service is highlighted by mandatory RG146 Tier 2 accreditation for all of our Member-facing staff, ensuring the highest standards of advice. We pledge to always act with fairness, to resolve any issues promptly, and to offer external dispute resolution through our Membership with the Australian Financial Complaints Authority (AFCA) when needed.
We believe in empowering our Members with comprehensive educational resources, supporting informed decision-making. Our dedicated support team ensures a seamless and supportive experience for every Member, from start to finish. Integral to our approach is gathering feedback and conducting regular check-ins, allowing us to continually refine and improve our offerings to better meet the evolving needs of our Members.
In essence, Paywise is committed to maintaining the highest standards of transparency, responsibility, and Member care. We are dedicated to providing services that are not only beneficial but are delivered with the utmost integrity and respect for our Members’ individual needs and circumstances.