payday loans

PO BOX 979 / TAURANGA (07) 577 0136 or fax (07) 577 0146

This Agreement records the Loan Particulars & Conditions of the loan between Ltd (CWL-The Lender) and you (The Borrower).

It’s important that you can make an informed decision about our short term loans so please read these carefully & print or save them to file.

If you don’t understand anything in these Terms & Conditions, or have any questions, ask us before you accept them by contacting us at or by phoning (07) 5770136.

Independent advice is available at:

– Citizens Advice Bureau

– Community law Centre

– Budget Advice                0508 283 438




The Lender:-    CWL Limited (CWL)

PO Box 979 Tauranga NZ

Ph:                   (07) 5770136

Fax:                  (07) 5770146



The Borrower: (You)








You can contact CWL by writing to us at PO Box 979, Tauranga


Phone    07 5770136

Fax        07 5770146



You confirm that the bank account being submitted for this Loan Agreement is an open & active New Zealand account & that any bank statements you have provided are not forged or stolen. You confirm that you (the Borrower) have full operating authority on this bank account.



You confirm that on the day of electronically signing this Loan Agreement that you remain employed as stated on the application form.

You agree to notify CWL immediately if you change employment, are made redundant or enter into an insolvency arrangement.

You confirm that you have provided to CWL all facts & circumstances which might affect CWL’s decision to lend to you.



You confirm that neither yourself nor any family member or known associate has held a prominent public position either in New Zealand or overseas within the last 2 years.



  • You will not cancel the Direct Debit authority to Cantwait Ltd (CWL) & understand that if you do so you will be in breach of these Loan Terms & Conditions.
  • You authorize CWL to direct debit your loan repayments from this bank account or any future bank account which you may provide to CWL.
  • You understand and agree that if you have incorrectly entered your next pay date CWL will amend the scheduled repayments to align these with your correct pay days.

The repayment schedule may also need to be adjusted if you default on a loan repayment to CWL or if you request a change to the repayment schedule due to unforeseen circumstances.

If the repayment schedule needs to be adjusted CWL will email you a new repayment schedule.

  • You understand & agree that you need to pay interest on this Loan.
  • You agree & understand that you are not able to assign any rights benefits or obligations under this Agreement at any time.
  • You agree & authorize CWL to transfer or assign any rights of CWL’s under this contract at any time.
  • You agree to promptly provide CWL with any information requested by CWL relating to your financial position.
  • You agree to receive any communication under this Loan Agreement from CWL by email.
  • You consent to us contacting you on the telephone numbers you have provided.
  • You agree to promptly provide CWL with any information requested by CWL relating to your financial position.




The Credit Contract & Consumer Finance Act 2003 gives you the right to cancel this Loan Agreement within 5 working days after agreeing to the Loan terms & Conditions.

How to Cancel :

If you wish to cancel this contract your request must be by email to within 5 working days of the loan amount being transferred into your nominated bank account.

Saturdays , Sundays and National Public Holidays are not counted as working days.

CWL will only charge you interest for the number of days that you have had the use of our money plus any same day bank transfer fee that may be applicable. There are no additional fees for early loan repayment.







The annual interest rate is variable up to a maximum of 521.43% pa.

The annual interest rate is based upon the date you receive the loan and the date you make the first repayment.

This interest rate will remain the same for the term (life) of this loan providing you meet all the loan repayments when they are due.

Each loan repayment you make will repay part of the original loan amount plus interest.

The original loan amount will get lower as you make repayments, providing you stick to the repayment schedule, until your loan is repaid in full.

Interest is calculated on a daily basis by multiplying the unpaid loan amount (this is the original amount you borrowed less the principle portion of any loan repayments you have made) by 10% per 7 days.

Interest charges are applied to your loan account with CWL on the scheduled repayment days.



Same Day Funds Transfer       $10.00 – If you request a same day transfer into your bank account

Loan Adjustment Fee                $10.00 -This is applied if you ask us to adjust your repayment schedule.

Default Fee                                $25.00 -Applied 48 hours after repayment default if you have not contacted CWL or made a manual repayment into CWL’s bank account


Refinance Fee                           $50.00 – Applied immediately if you request a loan refinance.



CWL will direct debit loan repayments from your nominated bank account on the dates outlined on the Repayment Schedule unless the Repayment Schedule has been adjusted.

CWL will send you an emailed reminder of a repayment before it’s due.

CWL will credit the repayments you make to your Loan Account as soon as possible.



There is no charge for early loan repayment & if you want to make additional & extra repayments these will be credited to your loan account with CWL as soon as possible & you will be advised, by email, of the adjusted loan repayment schedule.

You can repay your loan in full at any time by contacting CWL before 12 (noon) on any working day.

CWL will then direct debit the unpaid Principle Amount along with any unpaid accrued interest.



You give CWL permission under the Privacy Act 1993 to undertake a credit check on yourself & to verify your NZ identity with a driver’s license check/ passport check.




A repayment that is overdue by 48 hours constitutes a default.

We strongly urge all our clients to keep in contact with CWL if you have repayment issues as we will always endeavor to work out a mutually suitable repayment solution plan and referral to our Collection Agency will not only affect your ability to borrow money in the future but could substantially increase the total debt you will be asked to repay.

If you know you won’t be able to meet this obligation we expect you to contact before 1pm on the due date of the direct debit.

We will then work closely with you to bring the loan repayments back on schedule.







If you miss (default) on a loan repayment without permission from CWL you will be charged penalty interest at 100% pa above the annual interest rate calculated daily and will accrue from the date of the default, until the arrears are paid, plus a default fee of $25 per missed repayment. This will change & increase the loan repayment amounts you will need to pay. In this case CWL will email you an adjusted repayment schedule- “Disclosure Statement”.




If you fail to contact CWL before the loan repayment is processed & the repayment reverses you will be notified by email that your repayment has been reversed. Our bank details will also be sent to you so that you can make a manual repayment.

48 Hours after default – If you have not contacted CWL, or made a manual repayment, within 48 hours from the time of the default we will endeavor to phone you either on your land line / mobile line or at your place of employment. A $25 default fee will be added to the amount you owe at this stage.

10 Business days after default – You agree & understand that if your loan account with CWL is in default & you have not contacted CWL after 10 business days CWL will contact your employer and activate the wage deduction authority held on your file. You agree, understand & authorize your employer, or any future employer, to pay to CWL 20% of your net wages, salary &/or commission until the loan amount borrowed plus accrued interest charges, same day fees (if applicable) and default fees are repaid in full to CWL.

You understand & agree that any debt recovery fees or legal expenses associated with your loan will be payable by you & will be added onto your debt to CWL.

15 Business Days after default: If your employer refuses to activate the wage deduction authority & you have failed to contact CWL within 15 working days from the time of repayment default we will refer your account to our Collection Agency. The loan amount referred will be at penalty interest rates (100% p.a. above the annual interest rate ) on the unpaid loan principle amount plus default fees & same day transfer fees (where applicable) The Collection Agency will also add their costs onto the total collection amount.

At this stage you will need to deal directly with the Collection Agency rather than CWL.




This contract is unsecured against any of your assets.



Please consider the following before committing to a cash advance.


A cash advance loan can be a great way to help you out of a tricky situation, such as paying a power bill, avoiding repossession, keeping the phone connected or avoiding bank dishonor fees or late payment fees but these are short term loans only and should only be used as such. They should not be used as a permanent solution to a serious debt problem.



If you agree to the above terms and conditions and confirm that you fully understand your obligations under this Loan Contract between yourself and Ltd please click on the blue link below. This will send an acceptance email back to CWL & once received by CWL you will receive a confirmation of acceptance & be notified when the funds will be transferred into your bank account.




I, <!– fullname –> of <!– clientaddress –>, <!– clientCity –> have read, understood, agree to & accept the Terms & Conditions of the attached Loan Agreement for <!–LoanAmount –> dated <!– currentdate –>.


I consent to receiving Disclosure Documentation & Loan Documentation electronically via email for the purposes of the Credit Contracts & Consumer Finance Act 2003 & the Electronic Transfer Act 2002.







To: Payroll @ (Employment)

And any subsequent employer(s)

I consent to and authorise you, at the request of Ltd, to deduct and pay directly to Limited up to 20% of each payment per pay period of my wages, salary, commission and other monies earned until the total amount of unpaid loan principle, plus any accrued interest, fees & collection costs at the date of activation of this authority.


This authorisation is in accordance with the terms of a loan agreement dated  which I entered into as borrower with Limited as lender (the “Loan Agreement”)


I acknowledge that this authorisation may only be cancelled by Limited after the total amount borrowed under the Loan Agreement has been repaid. I release you as my employer from any or all liability for or on account of any or all amounts deducted and paid in accordance with this consent and authorisation.


I,  consent and accept that this wage deduction authority is fully authorised by me by my electronic signature upon acceptance of the loan Terms and Conditions of the attached Loan Agreement dated   .