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Profile and security in Solo Money

Report suspicious activity on my Solo Money Account

If you've recognised something suspicious on your Solo Money Account, reach out to us through chat as soon as possible. To start a chat, go to 'Solo Money’ and tap the question mark on the top of the screen. Tap the chat bubble on the bottom of the screen and talk to your Solo Money assistant.

It's important that you report any suspicious activity promptly to reduce the risk of further fraud or scams on your account.

We'll provide you with a case number and we may reach out during the investigation. Once we close the case, we'll inform you of the outcome.

What happens to my Solo Money data?

If you've agreed to share your data, it may be shared with eligible Accredited Data Recipients (ADRs) that you nominate to receive it. ADRs are accredited by the Australian Competition and Consumer Commission (ACCC) to receive data through the Consumer Data Right (CDR) scheme. Your data will only be available to ADRs if they've received your consent. ADRs must disclose the type of data it would like access to. This can include:

  • Transaction history

  • Balance information

  • Account information.

Sharing your data might come in handy if you'd like to do things like apply for a loan. Banks can access your data to verify your eligibility for a loan. Sharing your data might also help you make decisions around financial products and services.

Apply for Solo Money

Here are some tips to help you apply for Solo Money. It usually takes about 10 minutes

  • If you have not already been identified, have your identification documents ready, such as an Australian driver's licence, Australian passport or Medicare card.

  • If you have additional owners or directors of your business that need to be identified, have their email address ready and we'll invite them to ID themselves during the application process

  • To set up Solo Money, you'll need to provide details such as your ABN and business address.

  • Once your application has been approved, you'll be able to set up a bank account.

Follow the in-app steps to create your account. Please ensure all your details are accurate and up to date.

Change your Solo Money contact details in settings

Review and edit your contact details in Solo Money settings. Go to ‘More’, tap ‘Solo Money’ and scroll down to choose the contact details.

Change your Solo Money name or business details

Your business nickname can be changed in the 'Personal Details' section in Solo Money settings.

Your legal name cannot be changed through settings. Chat to us through the Solo Money assistant to change your legal name. Go to 'Solo Money’ and tap the question mark on the top of the screen. Tap the chat bubble on the bottom of the screen and ask your Solo Money assistant.

You may be required to provide additional documentation before we can change your details.

To change your business or personal details, please reach out to us through chat.

Please note that details such as ABN & business names cannot be changed.

Change your Solo Money personal address in settings

Go to ‘Solo Money’, tap settings (⚙️) and tap ‘Personal details'.

You can view and edit your residential and mailing address here. Make sure to tap 'Confirm' to save changes.

Privacy Statement for Solo Money

The Privacy Statement can be found at the bottom of the Solo Money help centre. Just go to ‘Solo Money’, tap the question mark and scroll to the bottom.

Terms and Conditions for Solo Money

The Terms and Conditions can be found at the bottom of the Solo Money help centre. Just go to ‘Solo Money’, tap the question mark and scroll to the bottom.

What is the Financial Claims Scheme?

Under the Australian Government's Financial Claims Scheme, your deposits may be guaranteed to an extent. The Financial Claims Scheme is managed by the Australian Government to protect certain types of bank account balances. For additional information about the Financial Claims Scheme, you can visit https://www.fcs.gov.au

What is the Customer Owned Banking Code of Practice?

The Customer Owned Banking Code of Practice sets out the level of support that we will provide to our customers and the community, and the standards by which we will be held accountable.

It sets out our commitments to our customers and the way in which we will deliver our products and services.

Make a complaint about Solo Money

We're committed to ensuring that our customers have great experiences using our products and services.

Please contact us if you have any feedback about our products and services. You can chat to us through the Solo Money assistant. Go to 'Solo Money’ and tap the question mark on the top of the screen. Tap the chat bubble on the bottom of the screen and ask your Solo Money assistant.

Details and identification needed to apply for Solo Money

You need to submit at least one form of identification (Australian driver's licence, Australian passport or Medicare card).

You'll also need to provide personal details such as your residential address and occupation. And you’ll need business details too, such as your ABN.

If your business has other owners or directors, you will need to enter their email address, so we can email them to verify their identity. They will be required to submit at least one form of identification (Australian driver's licence, Australian passport or Medicare card).

Change your Solo Money business address in settings

Go to ‘Solo Money’, tap settings (⚙️) and tap ‘Business details'.

You can view and edit your business address here.

What is the Consumer Data Right (CDR)?

The CDR is legislation passed by the Australian Government. It lets you share your data to make it easier for you to compare products and services and access better services. It's also useful for your financial management.

CDR is an opt-in service. You can opt-out at any time. You can also see who your data is shared with

One example of how it works is if you're applying for a mortgage with an accredited bank. You can let the bank use CDR to access your details securely for a more efficient, time-saving process.

If you'd like more information on how CDR works, please visit the official Consumer Data Right website Homepage | Consumer Data Right.

Are Consumer Data Right (CDR) and Open Banking different?

While the terms 'Open Banking' and 'CDR' are used interchangeably, CDR refers to any data records you create at banking, energy and communications providers. These records belong to you and you can authorise who you share that data with. Visit the official Consumer Data Right website for details Homepage | Consumer Data Right.

Open Banking refers to how these records are used by banks to make things like loan applications faster and more efficient.

Solo Money fees for open banking

We don't charge for open banking services.

Find information on data sharing

To view your data sharing settings and to find out more information about who has access to your data, go to the 'Data sharing' section in Solo Money settings. Here you can view:

  • Data sharing arrangements

  • Account permissions

  • Our CDR policy.

Get a record of your data

You can access the businesses you've shared your data with by going to the 'Data sharing' section in Solo Money settings.

If you'd like a record of your data, we give it to you. Please contact us via the Solo Money digital assistant. Just go to 'Solo Money’ and tap the question mark on the top of the screen. Tap the chat bubble on the bottom of the screen to chat with us.

Change your data sharing consent

Go to 'Solo Money', tap settings (⚙️) and tap 'Data sharing'. Here you can view:

  • Data sharing arrangements

  • Account permissions

  • Our CDR policy

In the 'Data sharing arrangements' section you can change and view your active and expired data sharing accounts.

Provide feedback

If you have any feedback for us, please contact us via the Solo Money assistant. Just go to 'Solo Money’ and tap the question mark on the top of the screen. Tap the chat bubble on the bottom of the screen to chat with us.

If my partnership has a partner that is a company, can I apply for banking products with Solo Money?

Unfortunately, we do not currently support partnerships with partners that are not individuals.

How do I apply for banking services if my business is a partnership?

We're excited to have you on board! You will need to have your partnership documents at the ready, as well as making sure all partners in your partnership are ready to provide their details for identity verification.

Types of documents you can use to verify your partnership

During your sign-up journey, you can provide us with a partnership agreement. If you do not have a partnership agreement, then please submit the following disclosure certificate, along with the following information if you have it:

  • A copy or extract of minutes from your partnership meeting; or

  • A copy of notice from the ATO, issued within the last 12 months.

Who is the Australian Financial Complaints Authority?

AFCA is an independent body that assists consumers and small businesses to make and resolve complaints about financial institutions.

Before you reach out to AFCA, please contact us first to try and resolve your complaint. If you are not satisfied with our approach to resolving your complaint or you would like to know the types of complaints AFCA handles, you can contact AFCA.

AFCA's details are as follows:

How we manage complaints for Solo Money

We welcome the opportunity to put things right where we have gotten it wrong.

You can contact us if you have any feedback about our products and services. Go to 'Solo Money’ and tap the question mark on the top of the screen. We will acknowledge and review your complaint and provide you with a reference number.

We do our best to resolve complaints within 5 business days. If we need more time, we will let you know and keep you updated.

If we have not resolved your complaint within 21 days or have not resolved the complaint to your satisfaction, you can refer your complaint to AFCA at any time. AFCA is an independent body that assists consumers and small businesses to make and resolve complaints about financial institutions. To contact AFCA or to find out more information on the types of complaints they handle, here are their details: