What is the Financial Passport?

The Financial Passport is a PDF document that gives you a snapshot view of your finances across income, expenses, assets & liabilities. The Financial Passport is available for every Australian in the app and will help consumers to get a better understanding of their financial position and borrowing power. They can even share it with their broker to facilitate a conversation about their financial future.

Why are the categories in my Financial Passport not matching the ones in the app?

We are using the industry-standard categories for Income and Living Expenses in your Financial Passport. These are the same ones your Broker will use to review your finances in your home loan application. Not all expense categories matter for lending therefore some categories in the app are grouped in Other discretionary expenses for example in the Financial Passport.

How do you calculate my Assets and Liabilities?

Your Assets are the sum of all your positive account balances and your liabilities are the sum of all your negative account balances. So if you have overpaid your credit card and your balance is positive, we’ll count this as an asset as you do not owe any money to the bank.

How did you calculate other metrics in the Financial Passport?

Have a look at the last page of your Financial Passport, we explain here how we worked out the numbers in the report.

How can I share and download my Financial Passport?

Once you’ve generated your Financial Passport, clicking on “Share” will allow you to send it via your preferred app, or email service. Depending on the device you use, you can also save it to your files.

Why did my Goals and Bills disappear after enabling my Financial Passport?

To enable the Financial Passport feature within your app, you will need to re-consent to sharing your data with us. Once you re-consent (App > Settings > Data Sharing > Update sharing preferences) all data will be removed, and a refreshed batch of data will be shared within the app (this is a mandated rule set by the ACCC). All your personalisations will be kept, such as categorisations, tags, budgets, payday etc.

However, existing Goals and Bills will be wiped and will need recreating. This is because, for a Goal to be created, it needs to be linked to an account. If this account is removed, the Goal is removed also. Similarly, a Bill is created within the app from a transaction. If these transactions are removed, so will all the Bills previously created.

However, these can be easily set up again. We apologise in advance for the inconvenience.