CDR Consent Collection Notice Template
Effective from: 24 May 2026
This document provides user-facing consent screen copy for Monitrax's Open Banking connection flow.
This template should be adapted to match the exact accredited data partner, data holder, data types, consent duration, dashboard functionality, and deletion process implemented in production.
Connect your bank to Monitrax
Monitrax uses Open Banking under Australia's Consumer Data Right to connect your banking data.
You are in control. Connecting your bank is optional.
Before you connect, we will ask for your separate Consumer Data Right consent. This consent is different from accepting Monitrax's Terms of Service or Privacy Policy.
What data we are asking for
Depending on the accounts and permissions you select, we may ask for access to:
- account names;
- account types;
- account numbers or truncated account numbers;
- balances;
- transactions;
- transaction descriptions;
- merchant information where available;
- direct debit or scheduled payment information where available;
- account connection status;
- consent and data-sharing metadata.
The final consent screen will show the exact data types requested before you approve the connection.
Why we are asking for this data
We use connected banking data to help provide Monitrax features, including:
- displaying accounts and balances;
- importing transactions;
- categorising transactions;
- showing spending summaries;
- modelling cash flow;
- modelling loan, repayment, and offset scenarios;
- generating dashboards, reports, and user-directed calculations;
- helping you maintain records in Monitrax.
Monitrax does not use CDR data to recommend financial products, credit products, tax positions, superannuation actions, investments, or strategies.
Who handles your data
Your data will be handled by Monitrax and our accredited data partner or another legally permitted CDR provider.
The final consent flow will identify the accredited data recipient or provider used for the connection.
Where service providers help operate the feature, they may process data only as permitted by CDR law, your consent, and relevant contractual arrangements.
How long the consent lasts
Your CDR consent will be time-limited.
The final consent screen will show the consent duration before you approve the connection.
You can withdraw consent at any time through your Monitrax account settings or consent dashboard.
What happens if you withdraw consent
If you withdraw consent, or if the consent expires, Monitrax will stop collecting new data under that consent.
We will delete or de-identify the relevant CDR data in accordance with the Consumer Data Right rules, applicable privacy safeguards, and our CDR data lifecycle process.
Some limited records may be retained where required or permitted by law, such as records for audit, security, complaints, consent history, or legal compliance.
What Monitrax does not do with CDR data
Monitrax does not sell CDR data.
Monitrax does not use CDR data for unrelated advertising or marketing.
Monitrax does not use CDR data to train general AI models unless we clearly tell you and obtain any consent required by law.
Monitrax does not disclose CDR data to a professional marketplace participant unless you choose to share it and the disclosure is permitted under CDR law.
Before you connect
By continuing, you acknowledge that:
- connecting your bank is optional;
- you will be asked to provide separate CDR consent;
- Monitrax will use connected data only for the purposes covered by your consent;
- you can withdraw consent at any time;
- Monitrax is software and does not provide financial advice, credit assistance, tax agent services, legal advice, or accounting advice.
Button text: Continue to secure bank connection
Alternative button text: I do not want to connect my bank now
Short-form checkbox version
Use this only where a shorter UI component is needed and the full consent details are displayed nearby.
I understand that connecting my bank is optional and requires separate Consumer Data Right consent. Monitrax will use connected data only for the purposes shown in the consent flow. I can withdraw consent at any time.
Support
If you have questions about Open Banking or CDR data handling, contact us at admin@monitrax.com.au.
Version: v1.0-2026-05-24 Effective from: 24 May 2026