Tel 0800 222 465
9am to 5pm,
Mon to Fri

admin@smartcash.co.nz

Level 1
103 Carlton Gore Road
Newmarket
Auckland

WE RESPECT YOUR PRIVACY

We communicate with you only by your personal email to process your application for a payday loan.

Your Questions

A SMARTCASH payday loan

What is a payday loan?

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. It is not intended for long-term financing.

How is a payday loan different to a loan from a bank?

Your application for a payday loan from SMARTCASH is approved 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.

Do I pay more for a payday loan?

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.

How is SMARTCASH different to other payday lenders?

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.

Why is SMARTCASH so much cheaper than other online specialist 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.

Compare other lending rates to ours.

How much does SMARTCASH charge for a loan?

We charge a daily interest rate of 0.99%, which is lower than any other online payday lending specialist in New Zealand. This amounts to an annual interest rate (AIR) of 361.35%, though you never pay that as our loans are only for a maximum of 31 days.
Compare other lending rates to ours.

Does SMARTCASH charge loan fees?

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 to ours.

Why is SMARTCASH the smart choice for me?

Our lending criteria and lowest lending rates help ensure you only borrow money you can pay back within the loan period.

Why are there so many online specialist payday lenders?

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. This is to make you think that the high lending rates they are offering are the “going rate” in the payday loan market.

Compare other lending rates to ours.

Before you apply

Am I eligible for a payday loan from SMARTCASH?

You are eligible for a payday loan from us if you are a legal New Zealand resident in regular employment earning at least $400 a week after tax. Check other criteria for a SMARTCASH loan.

Do you lend to couples with a combined income of over $400 a week after tax?

No, we only loan to individuals. Therefore we only consider each person’s individual income.

Can I get a loan if I am self-employed?

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.

Do I have to provide security?

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.

How much can I borrow?

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! That’s why we will lend you up to 20% of what you are paid over the period of the loan, net after tax. So it’s easy for you to repay.

For example, if you earn $550 net a week and you want to take one week to repay us, we will lend you up to 20% of $550 which is $110. We will lend you $220 if you want to make two weekly repayments, or $330 if you want to make three weekly repayments. Use our calculator to work out how much you can borrow from SMARTCASH.

Can I have cash deposited into my bank account on the same day that I apply?

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.

Can I only apply for a loan from SMARTCASH online?

Yes, you can only apply online.

Do I have to have a bank account to take out a loan from SMARTCASH?

Yes, your pay needs to be paid into a bank account that is in your name. We will check your bank details by contacting your payroll officer when we process your application. We do this with your permission.

Is my SMARTCASH loan application confidential?

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.

What happens if I supply incorrect information?

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.

Applying for a loan

When is SMARTCASH open for business?

We are open from 9am to 5pm Monday to Friday, excluding public holidays.

How long does it take to get a SMARTCASH loan application approved?

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.

Other lenders advertise they are open for lending 24 hours, 7 days a week. Is that right?

You will find that most other payday lenders 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.

How do I know if my SMARTCASH loan is approved?

We will email you back within an hour of receiving your application to let you know.
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.

I haven’t heard from you. Have you received my loan application?

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 "Apply Now" page and logging in as an existing customer. Otherwise, call us during business hours on 0800 222 465.

Why does SMARTCASH need to talk to my employer or payroll officer?

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.

How soon can I access my SMARTCASH loan in my bank account?

If your loan is approved before 3.30pm on a normal business day, the cash can be paid into your account the same day. This 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.

I didn't sign my loan document before I left the SMARTCASH site. Do I have to apply again?

No, you don't. To continue with your application, go to our Home Page and from the yellow menu on the left select "My Smartcash Account". 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.

Do you need to see my bank statements to complete my loan 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, “read-only” format. If you do not wish to allow us to see your statements this way, you may 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.

Does SMARTCASH do credit checks?

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.

I have a poor credit history. Will SMARTCASH lend me money?

As part of the loan application process, we consider your past credit history and we do take this into account before deciding if we will approve your loan. We also consider your current ability to repay a payday loan over a short period. Please also give careful consideration to whether a payday loan is right for you. Payday loans from SMARTCASH should be viewed as short-term loans to meet unexpected costs between paydays. For the ease and speed of access to our cash loans you pay a much higher interest rate than you would at a bank. For this reason, payday loans are not designed to meet basic ongoing household costs. If you find that you are continually struggling to meet ongoing living costs, you may benefit from seeking some budgeting advice.

SMARTCASH has declined my application. Why?

You may not have met our eligibility criteria. Or we may not have been able to confirm the information that you supplied. Or you may have an existing loan with another payday lender, as you can only have one payday loan at a time. Or you may have failed our credit check. Check our eligibility criteria.

Can I take out more than one SMARTCASH payday loan at a time?

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.

I already have an existing payday loan from another lender. Can I take out a payday loan from SMARTCASH?

You need to repay your existing payday loan before you are eligible for a loan from SMARTCASH.


Repaying the loan

How can I check how much I need to pay and when it’s due?

Go to our Home Page and select "My Smartcash Account" from the yellow menu on the left. This will take you to your personal account page. Login using your email address and the SMARTCASH password that you have already chosen.

When do I need to repay the loan?

SMARTCASH payday loans need to be repaid within 31 days, or by the date specified in your loan contract.

How do I repay the loan?

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.

What if I can’t repay the loan on time?

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.



What do I do if, for any reason, I need to change the date of the SMARTCASH direct debit from my bank account?

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.

Will there be additional costs if I can’t repay my SMARTCASH loan on time?

If you are unable to repay the loan on the agreed terms, it is very important that you contact us at least two days before a scheduled payment by direct debit is due. Any change to a payment amount or date that we agree with you will incur a processing fee of $20. If we don't hear from you within one working day of your repayment being missed, you will also incur a missed payment fee of $30. If your loan remains unpaid, your debt may be passed to a debt collection agency, which will charge you collection fees, for which you will be responsible for paying directly.

Can I cancel the loan?

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 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.

What can I do if I have a complaint?

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.

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