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Our Responsible Lending Policy

Payday loans are designed to help you out when you run out of cash between pay days. When used responsibly, our service can be a very convenient way of solving short-term cash trouble.

As a responsible lender, we have special procedures and policies we follow in order to ensure not only the affordability of our loans, but also the suitability of each potential borrower.

A payday advance is a short-term solution

Payday Advance want to ensure that we take a Responsible Lending approach to loans so that they are affordable.

It can be a valuable resource to help you when you are faced with short-term financial emergencies – however, any cash loan can become a financial burden if it is used for the wrong purpose and extended beyond its original term.

Such loans can come in handy for a variety of reasons such as:

  • Car repairs
  • School fees
  • Funerals
  • Emergency travel
  • Unexpected bills
  • Avoidance of late fees and penalties

Payday Advance can also be used when you don’t have time to get to the bank and wait for a cash loan approval. Our fast, secure, 24/7, online process can provide the speed and flexibility you sometimes need.

Responsible Lending Policy

Payday Advance’s responsible lending criteria is in place to help ensure you have the ability to repay the loan as it falls due. In addition, we follow the legislatively required responsible lending principles.

Your employment

  • We will not lend unless you are currently employed. If you do not have a regular income, we are unable to assist. We will not lend to unemployed people or people whose sole source of income is a benefit.
  • Your pay must be deposited into your own NZ bank account that has been opened for a minimum of 3 months.


  • The amount we may lend is partly based on your income. We do not want you to borrow more than you can afford to repay.
  • We need to see your ID, bank statements and a proof of address prior to issuing a loan.
  • Our customers can have only one loan at a time and only one per household.
  • We do not lend to current bankrupts, people under a Summary Instalment Order or a No Asset Procedure.

Responsible borrowing

  • We encourage all our clients to always do a budget prior to signing and returning the loan contract. Please use one of these services:; Family budgeting; or Citizens Advice Bureau.
  • Do not take a payday advance loan unless you can afford the repayments.
  • There may be alternatives you should consider e.g. family, friends, employer, credit card advance, etc. Only you can decide if the cost of a loan offers you the value to solve today’s problem.

Transparency & trust

  • All fees and charges are crystal clear and are outlined in the Loan Agreement – there are no hidden fees. What you see in the Agreement is what you pay – provided all payments are made on time.
  • We have issued thousands of loans – feel free to visit our testimonials page to see what our customers’ experience has been like with Payday Advance Limited.
  • We are a Registered Financial Service Provider – No. FSP4441.
  • During the application process you will be informed of the key details of your loan contract before you decide to accept or sign it. The key details include;

Your repayment dates & amounts
Your right to cancel the loan
How to make a complaint
How to apply for unforeseen Financial Hardship
Implications of non-payment and when assignment of wages may apply
The responsibilities of a Guarantor (If applicable)
The Repayment Waiver & what it covers (if applicable)

We believe in being 100% transparent with our clients and actively practice responsible lending.

If you require more information or clarification on any of the above topics, feel free to contact us so that we may further assist you.

Short-term cash

  • Please only use a payday loan as a short-term cash solution. Although we welcome you back to our payday advance service, we want you to only use us responsibly.
  • We understand the need for urgency and as such, we will process your application quickly and if approved, deposit funds directly to your bank account using the method you choose.
  • Interest on payday loans is calculated daily – early repayment is encouraged and will save you money!

If you do not have a .pdf reader installed on your computer, you can download it for free from

NZ Govt Registered Financial Service Provider

Payday Advance is 100% New Zealand owned and operated and supports the New Zealand Government requirement for Financial Service Providers to register with the Registrar of Financial Service Providers in order to conduct business in New Zealand.

Payday Advance has registered and our registration number is FSP4441.

The governing legislation is The Financial Service Providers (Registration and Dispute Resolution) Act 2008. The Act provides many consumer benefits that will ensure only registered entities like Payday Advance can operate in New Zealand.

  • You have access to the electronic register of Financial Service Providers which will help you to be comfortable that the company has passed the Government requirements for registration;
  • You can be confident that the directors have all been screened by Police checks and passed;
  • The Act ensures registered companies comply with all international obligations to prevent money laundering and the financing of terrorism.

Payday Advance welcomes new laws and is compliant and registered for your security.

Articles of Interest

Do payday loans constitute predatory lending? Not according to the Federal Reserve

More articles of interest on Payday Loans from the USA Federal Reserve


Click here for details of how to complain, our internal complaints process and contact details of our independent disputes resolution scheme operated by Financial Services Complaints Limited.

How can I contact you?

You can contact us via the details listed in the ‘Contact Us’ section of this website.