WeMoney

WeMoney is a free Australian personal finance app that gives users their credit score, credit report, and debt-tracking tools in one place. It is not a bank and not a lender; it uses open-banking data (Consumer Data Right, CDR) and Australian credit bureau data (Equifax) to show your credit position, existing loans, credit cards, and BNPL balances. WeMoney also lets users set repayment goals, get personalised product recommendations (paid affiliate model), and monitor for identity issues. Sign up at wemoney.com.au and activate ShopBack via the ShopBack WeMoney merchant page to earn cashback on eligible new account signup at the current published rate.

WeMoney pulls your credit score from Equifax, one of the three Australian credit bureaus (Equifax, illion, Experian). The score refreshes typically monthly (the exact cadence is set by the bureau). Checking your own score through WeMoney is a 'soft enquiry' and does NOT affect your credit score. Only credit applications you submit to lenders (a 'hard enquiry') show on your file. WeMoney also shows the factors driving your score (open accounts, enquiry count, repayment history) and lets you see the credit report itself. Reading your score for free is one of the main WeMoney value drivers versus paid competitors.

All three are free credit-score-plus-affiliate-product Australian services. Credit Simple (illion bureau) shows a score based on illion data. CreditSavvy (Experian bureau) shows the Experian score. WeMoney (Equifax bureau) shows the Equifax score plus deeper debt-tracker functionality including linked bank accounts via CDR open banking. Because each service uses a different bureau, the scores can differ by 20 to 100 points on the same person; there is no single 'true' Australian credit score. For a full picture, check all three; for the most complete debt view, WeMoney's open-banking integration is the strongest. Not financial advice.

ClearScore is a UK-founded free credit score service that entered Australia and also uses Equifax data. Both WeMoney and ClearScore make revenue from paid affiliate recommendations for credit cards, loans, and other financial products. WeMoney tends to lead on open-banking-driven debt aggregation and Australian-founded brand positioning, while ClearScore has stronger UK-heritage identity-monitoring features. For pure credit score reading, both work. For debt aggregation with linked bank accounts, WeMoney typically has more integrations for Australian banks.

WeMoney lets you link your Australian bank accounts, credit cards, home loans, personal loans, and BNPL accounts (Afterpay, Zip) via Consumer Data Right (CDR) open banking, which is a regulated data-sharing framework. Once linked, WeMoney aggregates all balances and shows total debt, interest owed, and a suggested repayment plan (avalanche or snowball method). You can set repayment goals and track progress over time. This is aggregation only; WeMoney does not initiate payments on your behalf. Standard CDR consent and revocation applies.

Yes, WeMoney's core credit-score and debt-tracker features are free for users. WeMoney makes revenue through paid affiliate recommendations for financial products (credit cards, personal loans, home loans, BNPL alternatives). When a WeMoney user applies for a recommended product and the application is approved, WeMoney earns a referral fee from the lender or issuer. This is disclosed on the app. The recommendation model means the top-listed product is not always the objectively cheapest for you; cross-check against unbiased comparison sites (Canstar, Mozo, Finder) before applying.

WeMoney is an accredited data recipient under the Consumer Data Right (CDR) framework administered by the ACCC. CDR-accredited providers must meet ongoing security, privacy, and consent requirements. Data sharing is read-only via CDR; WeMoney cannot move money or make payments on your behalf. You can revoke consent at any time through the app or through your bank's data-sharing dashboard. Only share bank data with CDR-accredited providers (WeMoney qualifies) rather than screen-scraping tools. Consumer Data Right is Australian federal legislation.

WeMoney shows the factors driving your Equifax score (payment history, enquiry count, credit utilisation, account mix) and lets you flag errors on your report to dispute with Equifax directly. Improving your score is a function of consistent on-time repayments, low credit utilisation on cards (below 30 percent of limit), avoiding new hard enquiries unnecessarily, and correcting any errors on your file. WeMoney is a tool for visibility and tracking; the improvement itself comes from repayment discipline. Not financial advice; a licensed financial counsellor is the right resource for serious debt issues (contact the National Debt Helpline on 1800 007 007, free).

Click through fresh from the ShopBack WeMoney merchant page to wemoney.com.au in the same browser session. Complete the new account signup and any qualifying verification the merchant terms specify, without opening extra promotional tabs or pasting third-party referral codes not approved on the ShopBack WeMoney page, since these can break attribution. Turn off ad-blockers. Cashback applies to eligible new account signups per the merchant terms and pays at the current published rate on the ShopBack WeMoney merchant page.

Cashback on WeMoney typically depends on completing the qualifying action (account signup plus verification and, in some cases, linking a bank account via CDR) as specified in the merchant terms. If you close the account, fail verification, or do not complete the qualifying action within the required period, the associated ShopBack cashback may be reversed or not confirm.