General + Account FAQs

What is the peer to peer lending marketplace?

Peer to peer lending matches people that want to invest with people who want to borrow, through an online marketplace. Peer to peer lending platforms, like Harmoney, facilitate this process.

Peer to peer lending provides low interest rate loans to Borrowers and high interest returns to Lenders by operating at a lower cost than traditional financial intermediaries.

Is Harmoney a finance company or a bank?

No, Harmoney is not a bank or a finance company. We're different in a few distinct ways. Harmoney is a financial marketplace, providing an intermediary service only in respect of the peer to peer lending process.

Unlike most traditional financial intermediaries, Harmoney itself does not participate in the borrowing or lending. We simply provide the platform and facilitate the lending and collecting process, administering customer accounts.

Harmoney is also a branchless operation. Our entire platform is online, cloud-based and automated, which means we’re open for business 24/7. A particularly crucial difference is that we don’t leverage our balance sheets with lender funds like traditional financial intermediaries; instead, all loans are funded on a 1:1 ratio.

Who runs Harmoney?

Harmoney is run by an experienced team that has worked together for over 12 years on two essentially start up financial service companies. Find out more about our team and the Harmoney story.

How long has Harmoney been around?

Harmoney was founded in New Zealand in late 2013, following the release of the Financial Markets Conduct Act which took effect in April 2014. We received our New Zealand licence to provide a peer to peer lending service from the Financial Markets Authority on July 7th, 2014. We've been around in Australia since February 2015, and gained our Australian Credit Licence in September 2015.

Can I buy shares in Harmoney?

No, at this time shares in Harmoney are not available to the public. We have no current plans for an IPO.

How do I know my personal information is safe with Harmoney?

Your personal information is stored securely, protected by best-in-class online security features, in accordance with our Terms of Use, Security and Privacy statements. Harmoney has physical, electronic and managerial protections in place to prevent any unauthorised access or inappropriate use of customer information. All customer information collected by Harmoney is passed through a secure server using encryption technology, and protected from unauthorised access by a number of security procedures including secure passwords and user log-ons. Harmoney will never disclose your information to a third party without your permission, and we will never contact you to ask for personal information.

How do I unsubscribe from emails?

All marketing emails from Harmoney are spam compliant, and therefore each marketing email contains a unique unsubscribe link. Simply click the unsubscribe link in the email to opt-out of marketing emails.

You cannot, however, unsubscribe from emails that are related to your harmoney account and transactions.

How do I verify my email address?

You will receive an email from us containing a click-through link which will allow you to verify your address. If you do not receive the email, check that it isn’t in your spam filter. You can request to have the verification email resent through your account settings.

How do I change my password?

You can change your password by logging into your Harmoney account, and accessing the Personal Details section. Click on the pencil icon next to the password section, and you’ll be able to change it.

How do I change my contact details?

You can change your contact details by logging into your Harmoney account, and accessing the Personal Details section. Click on the pencil icon next to each field to edit it.