FAQ

/FAQ
FAQ2017-10-16T02:14:51+00:00
What is the minimum and maximum term for an AdvancedCash Loan? Which is the best term to opt for?2018-06-11T02:50:56+00:00

Our personal loan terms range from 4 weeks to 28 weeks, and you need to choose the loan term depending on factors like your repayment ability and cash flow needs. The longer the term is, the lower your repayments will be over time, but the more interest you’ll pay. The shorter it is, the higher your repayments will be. This means you’ll pay less interest over time, because there will be less time for interest to be charged.

What if I cannot pay on the scheduled repayment date?2018-06-11T03:42:18+00:00

In the event that you believe that you will be unable to meet your repayments, please contact us immediately and discuss your circumstances with one of our helpful customer service team, so we are able to find an appropriate payment agreement that works for both parties.

If you suspect that you are going to have insufficient funds in your bank account on your repayment date, you must contact us immediately to put a halt on the direct debit. Contact must be made at least two business days before the due date, otherwise we will be unable to stop the direct debit, as it will have already been processed by your bank.

What will happen if I don’t pay?2018-06-11T21:18:39+00:00

If you fail or refuse to make repayment(s) as per your loan agreement then we may do any one or all of the following:

  • Adding default fees and default interest charges to your loan balance;
  • Attempting direct debit transaction(s) for the outstanding arrears amount from your nominated bank account at any date/time after the default date;
  • Reporting your debt/default to credit reporting agencies;
  • Contacting your employer to lodge a wage deduction request;
  • Employing a debt collection agency to recover the debt. The debt collection agency will also add a collection fee to your outstanding balance;
  • Using any other rights and powers under this Agreement.
What if I have trouble repaying my loan?2018-06-11T02:55:18+00:00

In the event that you find yourself experiencing financial difficulties and suspect that you will be unable to make your repayments on the due date, simply contact us on 0800 232274 (AD CASH) and we will consider your circumstances as we look to find a suitable solution that works for you.

Can I repay my loan early?2018-06-11T02:57:14+00:00

Yes – We encourage our clients to repay their AdvancedCash loan as early as possible! We will only charge you an additional fee of of $20.00 (creditor’s early repayment administration fee for any amendment in your loan contract and payment terms) with no further prepayment penalty or premium. Please note that Interest is accrued on your loan daily, based on the outstanding balance; therefore under some circumstances paying your loan in advance means you will incur less interest. Simply contact our customer service team on 0800 232274 (AD CASH) for a final balance figure on your loan.

I’d like to know how much I owe and when it’s due for repayment. How do I check these details?2018-06-11T03:02:37+00:00

All of this information is available to you when you log-in to My Account on the AdvancedCash website or app. Alternatively, you can also contact us on 0800 23 2274 (AD CASH) Monday – Friday (9:00AM – 5:30PM).

How do I repay my loan?2018-06-11T21:21:11+00:00

Repaying your loan to AdvancedCash is as easy as pie. We’ll direct debit your account in the evening of your dated installment for the amount according to the repayment schedule you’ve chosen. Make sure you’ve got money in there on the specified day(s) or until debited successfully to avoid default penalties.

If we’ve agreed to accept your manual repayment(s); then you can make payment(s) either using internet banking, automatic payments, cash deposit at any ANZ branch, or via POLi. Please contact our office to get more information.

Why haven’t I received payment of my money?2018-06-11T21:27:10+00:00

In the event that you received a loan approval text message from us, but you haven’t received your money, the reason is likely to be:

  • Your bank has not yet implemented systems capable of enabling same day payments/clearance; OR
  • Your application was approved after 4:00PM, then it is likely that the bank will process the funds to show in your account on the next business day; OR
  • Your bank might have a delay in showing the payment on your statement.

If you are unsure and the payment still hasn’t appeared after 120 minutes, please contact your bank for more information.

How long does it take for my loan application to get approved?2018-06-11T21:30:23+00:00

We take pride in providing super-fast service and endeavour to complete all loan applications within 24 hours.

How do I receive my money?2018-06-11T03:08:39+00:00

We transfer the money directly into your designated bank account which should be under your name.

When will I receive the funds once my loan is approved?2018-06-11T03:09:36+00:00

Once your loan has been approved, you will find the funds in your account within 24 hours.

We also offer an instant payment option; where money can be in your bank account in 15~30 minutes upon loan approval. Instant payment option is only available if you are banking with one of the following major NZ banks: ANZBNZASBTSBKIWI BankWestpac. (instant payment fee applies)

How much does it cost?2018-06-11T03:12:20+00:00

Our fees and charges are transparent. The online loan calculator on our website can be used to see exactly what your total loan costs would be, including the repayment amounts. You can enter various loan amounts and repayment dates to get a good idea of what your total loan cost would be, before you proceed with your loan application. For more on the costs of a Advanced Cash loan, please refer to our Rates page.

I do not have access to my old email address so cannot recover a password. What do I do now?2018-06-11T21:34:45+00:00

Please contact our friendly customer service team on 0800 23 2274 (AD CASH) between 9:00AM and 5:30PM Monday to Friday – one of our staff will happily assist you to re-register your AdvancedCash account login under your new email address.

How much can I apply for once I have repaid my loan?2018-06-11T03:15:31+00:00

Here at AdvancedCash, we provide our clients with loans up to $5000, depending on your net income from paid employment. The maximum amount that you can borrow is determined by our affordability calculations, which take into account the repayment amounts after fees have been added and the daily interest that will be accumulated throughout the period of the loan.

Why have I been declined?2018-06-11T21:37:08+00:00

There are a number of reasons that may result in your AdvancedCash loan application being declined. These include (but not limited-to):

  • You provided false, fraudulent or misleading information, or withholding relevant information;
  • You are not over 18 years old;
  • You are not currently residing in New Zealand;
  • You do not have a valid photo ID (any passport or NZ driving license accepted);
  • You are not a NZ/AU Resident/Citizen or hold a valid work visa;
  • You are currently not in full-time/part-time employment;
  • You have not completed minimum three months of employment with your current employer;
  • You are currently not earning at least $300 per week;
  • You have an adverse or poor credit history;
  • Your financial conduct, as shown on your bank statement, indicating that you have budgetary or existing debt problems;
  • You are currently bankrupt;
  • We were not able to verify your personal information including employment;
  • You do not have an active bank account with at least three regular payroll transactions;
  • You have provided someone else’s bank account or we were not able to verify your bank account information;
  • You do not have an access to internet;
  • You do not have an active and registered mobile number;
  • You do not have an active email address.
I want to change the amount I have applied for. Can I do this?2018-06-11T03:18:38+00:00

Yes – simply call us on 0800 23 2274 (AD CASH) or email us at loan@advancedcash.co.nz and one of our staff will ensure your application is amended with the new loan value.

How do I send in my fast and quick loan application?2018-06-11T21:44:40+00:00

It’s surprisingly easy and quick to apply for a personal loan with AdvancedCash. Your loan application can be sent in 3 different ways:

  1. Website: Fill-up and submit our online loan application form and we will get in touch with you to go through the application.
  2. SMS: You can apply for a AdvancedCash loan by sending a FREE SMS to 5808 in a specific message format. For example, If u want $5000 and your personal AdvancedCash PIN code is ABC12D, then send the following free SMS to 5808: “Advanced Loan $5000 ABC12D“. (only available for returning customers)
  3. Phone: You can contact our office on 0800 23 2274 (AD CASH) between the hours of 9:00AM and 5:30PM (Monday to Friday) and one of our friendly staff member will assist you to lodge a loan application recalling your previous application details. (only available for returning customers)

Be sure to read the Terms and Conditions before sending your loan application.

Do I need to fax or scan and email any documents?2017-04-01T08:50:29+00:00

Only in the event that we are unable to verify the information provided to us in your loan application. We may simply require you to fax or scan and email supporting documents, so we can complete the loan approval process.

Does Advanced Cash require a credit check?2018-06-11T03:24:41+00:00

Yes – AdvancedCash is committed to providing responsible personal lending. We make it our aim to only lend to people who we believe can afford to make the agreed repayments. However, even if you do have a bad credit rating we may still lend to you, depending on your financial circumstances (subject to approval).

Do I need a bank account?2018-06-11T21:53:40+00:00

Yes – you will need to provide us an active New Zealand bank account that is under your name. This bank account should be the one that your wages/salary is paid into, as it will help us to determine your loan repayment ability and aid your employment verification process.

Do you require security?2017-04-01T08:49:08+00:00

No – we do not request collateral or guarantors.

What do I need to be pre-approved?2018-06-11T03:26:48+00:00

AdvancedCash typically provides short-term cash loan if you meet the following (but not limited-to) requirements:

  • You need to be over 18 years old;
  • You need to be currently residing in New Zealand;
  • You need to have a valid photo ID (any passport or NZ driving license accepted);
  • You need to be a NZ/AU Resident/Citizen or hold a valid work visa;
  • You need to be working full-time/part-time for at least three months with your current employer;
  • You need to be earning at least $300 per week;
  • You need to have an active bank account with at least three regular payroll transactions;
  • You need to have an access to internet as our loan application process is 100% online;
  • You need to have an access to your internet banking (optional if you are seeking a loan of less than $1500);
  • You need to have an active and registered mobile number;
  • You need to have an active email address.

If you do not fulfill all above requirements then you may not qualify for a AdvancedCash loan – if you’d like us to explain why, please contact us.

What personal information does Advanced Cash need?2018-06-11T03:30:06+00:00

We simply require basic details such as your name, age, address, phone number, email address, bank details and employment information. We require this information in order to confirm your identity and approve your loan. Please ensure all information is correct, as this helps your chances of your loan being approved. AdvancedCash also takes measures to ensure that any personal or financial information shared by our clients is fully protected, as we employ secure socket layer (SST) encryption technology. For more information on the collection and potential uses of your details, please read our Privacy Policy.

How do I update my bank details?2018-06-11T03:31:50+00:00

If you are in the process of reapplying for a loan, you can update your bank account details on the application page, or you can contact one of our friendly customer service team on 0800 23 2274 (AD CASH) or at loan@advancedcash.co.nz and a staff member will assist you in updating your account.

Do I have to wait until I’ve paid back my current AdvancedCash loan before I can get another one?2018-06-11T22:17:52+00:00

Yes – AdvancedCash believes in responsible lending, with rollovers and additional loans often leading to a debt spiral that can be difficult to recover from. As a responsible lender, we do not allow these types of loans, helping you maintain your financial welfare.

What if I change my mind?2018-06-11T03:34:41+00:00

If you happen to change your mind and no longer wish to proceed with the loan, you have five working days to return the loan proceeds to AdvancedCash and cancel your Loan Agreement. In doing so, we will only charge you the loan balance that include loan principal, establishment fee and interest accrued up until the funds are returned. Please refer to your Loan Agreement for a full statement of your rights and the Terms & Conditions of the loan.

How do weekends and public holidays affect the service?2017-04-01T08:45:54+00:00

Advanced Cash aren’t open during the weekend or on public holidays, meaning that any submitted applications won’t be processed until the next working day. This is due to the fact that payroll officers are typically unavailable to confirm details during these times and New Zealand banks are often unable to process the payments.

My partner and I have a joint bank account. I have an open Advanced Cash loan. Can my partner apply for a Advanced Cash loan, even if it is the same bank account number?2017-04-01T08:45:30+00:00

Yes – we are happy to approve a loan under your partner’s name, using the same account, as long as your bank statement shows sufficient income to pay back both loans.

What if I’m already in debt?2018-06-11T21:58:15+00:00

If you are already experiencing sustained difficulties meeting financial commitments, we encourage you to please decide carefully before applying for a AdvancedCash loan, as it will only add to your financial commitments. We recommend instead contacting Citizens Advice Bureau (CAB) or Financial Capability Trust for budgeting advice.

Can I get a short-term cash loan if I have a bad credit history?2017-04-01T08:44:04+00:00

Here at Advanced Cash, bad credit will be taken into consideration during the loan approval process, but it won’t rule you out. We may still offer bad credit personal loans to those who demonstrate the capacity to successfully meet their loan repayment requirements. We believe in looking at your overall situation, rather than simply basing our decision on past credit history.

If I currently have a payday loan with another company, can I apply?2018-06-11T22:12:15+00:00

As a responsible lender, AdvancedCash believe you should not have too many short-term loans at a time. If you can demonstrate the capacity to meet loan repayments and future creditworthiness then we may ask you to consolidate your current short-term loans of up to $5000 with us to ease up your debt repayments. If we realize that you’re already experiencing sustained problems meeting existing financial commitments then we would decline your loan application as it may lead you to a debt spiral that can be hard to recover from.

How does a “fax-less” or “paperless” short-term loan work?2018-06-11T03:38:46+00:00

Our “fax-less”or “paperless” loans are fast, convenient and easy! The loan application is simply filled out and submitted online. In the event that we do encounter any difficulties verifying the information provided, we may simply require you to fax or scan supporting documents to us.

The documents requested may be one or all of the following:

  1. Scan copy of your NZ driver licence.
  2. Scan copy of passport along with the visa page (if applicable).
  3. Most recent bank statement (in pdf format) showing the past 3 months transactions.
What are your opening hours?2018-06-11T03:40:42+00:00

Our customer service team is available between 9:00am and 5:30pm Monday to Friday on 0800 23 2274 (AD CASH) (excluding public holidays).

Alternatively you can also email us at: info@advancedcash.co.nz. We always aim to respond to any email queries within 24 hours during the week. If you contact us over the weekend or on a public holiday, we’ll be in touch with you on the very next business day.