Please read the following before applying for a loan.

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



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


2 – You confirm that on the day of electronically signing this Loan Agreement that you remain employed as stated on the application form.
3 – You agree to notify CWL immediately if you change employment, are made redundant or enter into an insolvency arrangement.
4 – You confirm that you have provided to CWL all facts & circumstances which might affect CWL’s decision to lend to you.


5 –  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.


  • 6,1 – 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.
  • 6,2 – You authorize CWL to direct debit your loan repayments from this bank account or any future bank account which you may provide to CWL.
  • 6,3 – 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.
  • 6,4 – 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.
  • 6,5 – If the repayment schedule needs to be adjusted CWL will email you a new repayment schedule.
  • 6,6 – You understand & agree that you need to pay interest on this Loan.
  • 6,7 – You agree & understand that you are not able to assign any rights benefits or obligations under this Agreement at any time.
  • 6,8 – You agree & authorize CWL to transfer or assign any rights of CWL’s under this contract at any time.
  • 6,9 – You agree to receive any communication under this Loan Agreement from CWL by email.
  • 6,10 –  You consent to us contacting you on the telephone numbers you have provided.
  • 6,11 – You agree to promptly provide CWL with any information requested by CWL relating to your financial position.


7 – Contact your employer in the case of repayment default & non communication with CWL:
8 – 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.
9 – 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.
10 – You understand & agree that any reasonable debt recovery fees or reasonable legal expenses associated with your loan will be payable by you & will be added onto your debt to CWL.
11 – 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.


12 – The Credit Contract & Consumer Finance Act 2003 gives you the right to cancel this Loan Agreement within 7 working days after agreeing to the Loan terms & Conditions.
13 – If you wish to cancel your request must be by email to
14 – 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. 



15 – The annual interest rate is 521.43% pa. Not the same as actual interest charged. Please refer to the calculator section to see a clear picture of your loans actual cost.
16 – 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.
17 – Each loan repayment you make will repay part of the original loan amount plus interest.
18 – 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.
19 – 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.
20 – Interest charges are applied to your loan account with CWL on the scheduled repayment days.


21 – Transfer Fee                               $10.00 – If you request a same day transfer into your bank account
22 – Loan Adjustment Fee                $10.00 – This may be applied at the discretion of our loan officers if you ask us to adjust your repayment schedule
23 – Default Fee                               $25.00 – This will be applied if we feel that the customer is actively avoiding meeting their financial obligations.
23.1 – Refinance Fee                               $50.00 – This will be applied to all refinance requests.


24 – 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.
25 – CWL will send you an emailed reminder of a repayment before it’s due.
26 – CWL will credit the repayments you make to your Loan Account as soon as possible.


27 – 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.


28 – 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.
29 – 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.
30 – We will then work closely with you to bring the loan repayments back on schedule.


31 – If you miss (default) on a loan repayment without permission from CWL you will be charged penalty interest at 621.43% pa on the unpaid loan amount, 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”.


32 – 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.
33 – 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.
34 – 10 Business days after default – If you have not contacted CWL, or made a manual repayment, within 10 business days we will contact your employer and activate the wage deduction we have on your account file.
35 – 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 (621.43% p.a.) 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.
36 – At this stage you will need to deal directly with the Collection Agency rather than CWL.


You can contact CWL by writing to us at PO Box 979, Tauranga
Phone    07 5770136
Fax        07 5770146 


 37 – This contract is unsecured against your assets.
38 – Ltd will hold on file a Wage Deduction authority which will be activated in the event that your account goes into default and contact is not received within 10 business days. This authority will ask your employer to put up to 20% of your net earnings towards your debt to CWL until the total owing balance is repaid in full.


Please consider the following before committing to a cash advance.
39 – 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 dishonour 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.
40 – 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.