Responsible Lending

Responsible Lending

In this document, references to “we” or “us” are to Ferratum New Zealand Limited, 132 Hurstmere Road, Takapuna, Auckland, 0622 New Zealand (and references to “our” are to be interpreted accordingly).

Ferratum New Zealand is here to help you through hard financial times. Our aim is to, and as far as possible, assist you with your daily financing needs.  Keep in mind payday loans, cash loans,text loans and microloans are for short-term use only. If you have serious budgeting problems please contact your local municipality. Therefore, we would also like to point out – Please do not borrow more than you are able to repay and borrow responsibly.

What We Require?

If you decide to choose us as your payday loans, cash loans,text loans and microloans provider we will require the following from you

  • Minimum age of 18
  • New Zealand  or Australia nationality otherwise its permanent resident
  • Holder of a New Zealand Driver’s License
  • Holder of a mobile phone number
  • Holder of a bank account
  • No outstanding loans with Ferratum
  • Good payment history with Ferratum
  • Have sufficient income to repay the approved loan
  • No existing payment defaults
  • No court judgments or bankruptcies

You should be sure you can afford to repay the before applying. You must fill in your genuine income and employment details in the loan application form. We trust your confirmation and we'll process your loan application based on the confirmation. 

In addition, we will request you to:

  • Provide a copy of your:

o   New Zealand Driver’s License

o   Bank transaction statement showing your names, address, bank account number and credit & debit amount. (for a bad credit loan)

o   No Bank transaction statement for a new customer: Maximum loan amounts up to $200

To be able to process your application and respond to your loan request in the fastest  way possible we encourage you to provide:

  • Work phone number
  • Home phone number
  • Alternative contact number

What We Offer!

As the lender of your choice we will always make our best to respond to your payday loans, cash loans,text loans and microloans requests.  We will do our best to provide you excellent and professional service. This is what we stand for and what we always strive to deliver:

  • Market leading application possibilities: online and via text
  • Quick and accurate loan decisions
  • Money in your account in as fast as 10 minutes
  • 100% transparency
  • Disclosed Privacy Policy and Terms and Conditions
  • No hidden fees – what you see is what you get
  • Free and professional customer service
  • Confidentiality and data protection

What We Encourage.

As a New Zealand government registered lender, Ferratum New Zealand Limited understands that sometimes our customers will fall into financial difficulties and that is why we have a team of collections advisors on hand to help you if you struggle to pay on the date you first opted for. Unfortunately paying later than the agreed due date will increase the amount you pay back. It could also seriously damage your credit rating. It is for this reason that we urge all customers to be sure they can afford to repay the loan before applying.

A cash & payday loan should only be used for short term financial needs and is not appropriate for long term borrowing (and would be very expensive if used in this way) or if you are in financial difficulty.

We strongly advise you: Before you apply for a loan, carefully think once more about your decision.

Important Notice: Loan Cancellation

You under a consumer credit contract may cancel the contract by giving written notice of the cancellation to us under the contract within 5 working days of the day that disclosure is made under Section 17 of the Credit Contracts and Consumer Finance Act 2003.

§http://www.legislation.govt.nz/act/public/2003/0052/latest/DLM212773.html?search=sw_096be8ed80b81d49_cancel_25_se&p=1

However, the law gives you a limited right to cancel the consumer credit act, however this right of cancellation does not apply if the credit is provided for a specified period of less than two months and no part of credit is used, with the knowledge of the creditor, to pay amounts owing to the creditor or a related company under another credit contract.

As you may know, we are a responsible lender, serving a loan with a high interest. If you are not able to repay back your loan amount on the agreed due date, due to the high interest rate, we will happily allow you to cancel the contract by giving written notice of the cancellation to us within 5 working days of the day that the Facility Disclosure Statement and Loan Disclosure Statement. However, we may exclude your next loan application because we are a responsible lender.

We will not charge any fees and interest against the loan amount. However, you must return the cleared loan amount (cash deposit) to our bank account on the same cancellation date. If this condition is not met, other fees and interest may be charged pursuant to the Terms and Conditions.