A payday loan is a small cash loan that helps to carry you through to next payday when you are a bit short. Sometimes you have an unexpected expense; sometimes it’s an emergency. The important thing about a payday loan is that it’s a manageable amount that you can pay back when you get paid. A payday loan is a short-term loan and it is not intended for long-term financing.
A decision whether or not to approve your application for a payday loan from SMARTCASH is made within one hour and you have the choice of having the money in your bank account on the same day, providing you have loan approval before 3:30pm on a normal business day. Bank approval and loans, in general, take longer to process. Banks may require security over your car or anything else you own, whereas we do not.
Yes, you pay more for the convenience of same day approval and access to cash from a payday lender than from any other type of lender. With SMARTCASH you pay the lowest cost of any specialist Kiwi payday lender.
SMARTCASH offers the lowest overall cost of any specialist Kiwi online payday lender. This means you pay less for your money when you take out a payday loan from us. Make sure you fully understand all the fees being charged when you consider borrowing from payday lenders.
We want you to be able to take out a loan from us that you are able to pay back within the loan period.
We charge a maximum daily interest rate of 0.99% for loans up to 31 days and 0.55% for loans of 64- 112 days, which is lower than any other online payday lending specialist in New Zealand. This amounts to an annual interest rate (AIR) of 361.35%and 200% respectively. Loans are for a maximum of 112 days.
We charge the lowest overall costs of any online payday lending specialist in New Zealand. We charge a $25 loan establishment fee, and a $5 fee for each payment processed. We charge no further fees , unlike most other online payday lenders, providing your loan repayments are made on time.Compare other lending rates and fees to ours.
Our lending criteria and lowest lending rates help ensure you only borrow money you can pay back within the loan period.
There are not as many as you think. Some payday lenders in New Zealand have multiple websites, each trading under different names but offering very similar loan rates. They are trying to make you think that the high lending rates they are offering are the “going rate” in the payday loan market.
You are eligible for a payday loan from us if you are a legal New Zealand resident in full-time permanent employment earning consistently at least $400 a week after tax. Check other criteria for a SMARTCASH loan.
No, we only loan to individuals. Therefore we only consider each person’s individual income.
Yes, you can if you earn over $400 a week after tax. You must be able to show that your earnings go into your bank account on a regular basis.
At SMARTCASH we do not require security for our loans. Banks, on the other hand, may require security over your car or anything else you own before lending you money.
A payday loan needs to be affordable for you, and manageable. And, let’s face it, we want you to be able to pay us back!Use our loan calculator to work out how much you’re able to borrow and how much each repayment will be.
Yes, if your loan is approved before 3.30pm on a normal business day, the cash can be paid into your account the same day. The fee for this service is $10. Otherwise the cash is paid into your account overnight, at no additional cost, and it is available to you next day.
Yes, you can only apply online.
Yes, your pay needs to be paid into a bank account that is in your name. We will check your bank statement to confirm the bank account that your pay goes into.
Yes, your online application is secure and confidential to employees and agents of SMARTCASH, and our credit reporting agency Veda. You are also protected under the provisions of the Privacy Act 1993 which prohibits personal information being divulged to any third party without your consent. You can view our privacy policy here Red Text inline
We need to be able to verify your identity, your employment, and your banking details. We also check on your credit history. You need to make sure all the information that you provide is accurate to ensure your SMARTCASH loan application can proceed without a hitch. If the information you have suppled is incorrect, please advise us immediately.
We are open from 9am to 5pm Monday to Friday, excluding public holidays.
During business hours, it should take one hour to get a loan approved providing we can confirm your pay details with your payroll officer. It may take a bit longer if we ask for additional information from you because of your credit history. If you are a returning customer and your employment details have not changed, it will take less than one hour.
No, you will find that other payday lenders will advertise that they will accept your loan application 24 hours a day, but they will still process it during normal business hours. That means if you apply after 5pm on a business day, you may have to wait until the next day to hear if your loan is approved.
We will email you back within an hour of receiving your application to let you know the status of your application. However, it can take longer sometimes to contact your payroll officer to confirm your pay details, or we may ask you to supply additional information.
If you are a new customer, immediately after signing your loan documents, you should receive an email from us asking you to confirm your email address. If you do not receive an email from us, please check that our email hasn't gone into your Junk or Spam folder in your email account. If it's not there, you should next check that you supplied the correct email address in your application. You can do this by going to our “Customer Login” page and logging in as an existing customer. Otherwise, call us during business hours on 0800 222 465. Red Text inline
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We make a quick call to check that the details in your application are correct. It will speed up your application if you let your payroll officer know we are going to contact them. If you are a returning customer and your pay details have not changed, we do not need to do this.
If your loan is approved before 3.30pm on a normal business day, the cash can be paid into your account the same day. The time it takes for the funds to show in your account depends on your bank transferring the money straight away into your account and this should happen with all of the major trading banks in New Zealand. The fee for this service is $10. Otherwise the cash is paid into your account overnight, at no additional cost, and it is available to you the next day.
No, you don't. To continue with your application, go to our Home Page and from the Top menu bar select “Customer Login”. On this page, log in to your SMARTCASH account using your email address and the password that you have already selected. Next, click on the "Click here to sign your documents" link and sign your contract as directed.If you are a new customer, next you will be sent a followup email immediately asking you to confirm your email address. When we have the signed contract and your email confirmation we can get on with processing your application.
If this is your first application to SMARTCASH, we will contact you to request your last two months' bank statements, up to the date of your application. We will do this by sending you a link to our service provider, DecisionLogic, who allow us, once you have entered your details and granted us consent, to view your bank statements online in a secure, confidential and “read-only” format. Alternatively you can download your bank statements from your internet banking and send them to us by email. If you are a returning customer, we may request you send us this information again, if any of your details have changed, or it has been a while since your last loan with SMARTCASH.
Yes, with your permission, we run a credit check before we lend you money. We also provide information about your successful repayment of our loans to other lenders. This means that as soon as you pay us back it helps you achieve a good credit record. It is important that you repay any loan on time to preserve a good credit history, which means protecting your ability to loan money from us or anyone else in the future. A good credit history also means you have the ability to purchase goods from retailers on hire purchase.
There are several reasons why your application may have been declined. • You may not have met our eligibility criteria. • We may not have been able to confirm the information that you supplied. • You may have an existing loan with another payday lender, as you can only have one payday loan at a time. • You may have failed our credit check. Check our eligibility criteria.
You can only take out one payday loan at a time from SMARTCASH. When it is repaid, you are welcome to take out another loan with us if you are short of cash in the future.an class="textstyle-red">Red Text inline
You need to repay your existing payday loan before you are eligible for a loan from SMARTCASH.
Go to our Home Page and select “Customer Login” from the top of the page. This will take you to your personal account page. Login using your email address and the SMARTCASH password that you have already chosen.
SMARTCASH payday loans need to be by the date specified in your loan contract or as otherwise agreed with us. Your first loan repayment is payable on your first paydate immediately following the date of your loan approval.
You can pay us in instalments as you get paid or in one single amount. We usually direct debit the money from your nominated bank account, however we may instead request your repayments are made by manual payment, or wage deduction.
Please notify us as soon as you become aware of your change in circumstance. We need a minimum of two working days notice to stop or alter a direct debit. Any change to a payment amount or date that we agree with you will incur a rescheduling fee of $20.
We expect the loan to be repaid within the agreed loan period. If, however, you encounter unforeseen financial hardship, because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, and you are reasonably unable to meet your obligations under the Loan Agreement, you may apply to have the terms of your Loan Agreement amended. An application for undue hardship must:
Be submitted in writing, Explain your reasons for being unable to meet your repayment obligations, and Propose a solution to remedy the situation. On receipt of your application, we will acknowledged receipt and will notify you of our decision within 20 working days. If you have already made an application for undue hardship within the last four months, you are not entitled to do so again, unless we otherwise agree.
If, for unforeseen reasons, you have to change the date of a direct debit you must let us know and we will process this at the bank. Please phone our SMARTCASH customer support line on 0800 222 465. You must give us at least two business days notice to stop and alter a direct debit. Please let us know as soon as possible if you are experiencing financial difficulties. Each change to a payment amount or date that we agree with you will incur a rescheduling fee of $20.
You have a right to cancel your loan within five working days of receiving it. You must notify us of your intention to do so within this time. Please note: if you cancel your loan, you will still be liable for any charges and expenses incurred in the processing of your loan, and its cancellation. This will include the establishment fee, the rescheduling fee, the same day fee (if applicable), and interest accrued for the period from the day you received the loan until the day you repaid the balance.
If you have a problem or complaint about any aspect of the SMARTCASH service, please let us know by phone on 0800 222 456 or email admin@smartcash.co.nz. We have an Internal Complaints Process, and we will do our best to resolve your complaint within 10 working days. If we cannot do so within this time, we may take longer, provided we have good reason to do so. In any event, we will continue to keep you informed of the progress of your complaint. If we are unable to reach agreement, you may choose to refer your complaint to our external scheme: Financial Dispute Resolution. This is a free and independent service provided by the Government to resolve specific complaints. You are entitled to refer to them at any point during this process.
Yes, as we need to contact your employer to set up the deductions and send them our payment details, there is a fee of $15 that is added to your loan for this.
If you have a problem or complaint about any aspect of the SMARTCASH service, please let us know by phone on 0800 222 456 or email admin@smartcash.co.nz. We have an Internal Complaints Process, and we will do our best to resolve your complaint within 10 working days. If we cannot do so within this time, we may take longer, provided we have good reason to do so. In any event, we will continue to keep you informed of the progress of your complaint. If we are unable to reach agreement, you may choose to refer your complaint to our external scheme: Financial Dispute Resolution. This is a free and independent service provided by the Government to resolve specific complaints. You are entitled to refer to them at any point during this process.