NOW Finance only requires bank statements on personal loan applications or Tier 3 and Tier 4 Auto applications, or Auto applications where one of the applicants is self-employed (all Tiers). There are two options when the customer is self-employed.
For Self-Employed Applicants:
- Option 1: Illion Bank Statements with the individual Notice of Assessment (NOA). PDF bank statements are not accepted for self-employed applicants applying for an Auto loan.
- Option 2: Latest BAS Statement and the individual NOA.
When Will NOW Finance Send the Illion Bank Statement Link?
- Broker Request:
- The Illion link will be sent to the customer if the broker clicks the “Request Bank Statement” button in the application.
- Automatic Request:
- If the application requires bank statements for assessment, the system will automatically send the Illion link to the customer if:
- The application is submitted to credit without bank statements uploaded, and
- The Illion Document ID is not added to the application.
For Self-Employed Applicants: If the applicant wants to supply the BAS statement and NOA:
- Upload the BAS and NOA to the application.
- Ensure you select “NOA” and “BAS” as the document types.
- If not selected, the system will automatically send the bank statement link to the customer.
For Non-Self-Employed Applicants Applying for an Auto Loan:
- PDF Bank Statements are accepted if the customer is a Tier 3 or Tier 4.
Important: If you upload PDF bank statements, click the “Submit for Document Review” button to ensure the documents are submitted to credit.