Our service is designed to put you in control of your cash flow, for those occasional times when an unexpected expense catches you by surprise. Below we explain why Cash Relief is different to many other lenders.
Transparent service
We calculate the total amount repayable upfront, clearly showing you the figures. We include the interest and full cost to ensure it’s crystal clear, plus we never change the rate we charge. The only way costs can increase is if you fail to honour the agreement.
Short-term cash
In contrast to a credit cards or overdrafts, you must commit to settling your Cash Relief account quickly. You can then use our service again next time you need short-term cash. We make money when you repay us on time, not by continually extending a growing line of credit to you. Cash Relief doesn’t endlessly roll your balance from month to month and we will only approve limited extensions when we feel it is in your best interest.
Trust
We place emphasis on building a responsible and trusting relationship with you. First-time customers can initially apply for up to $200. After repaying your first loan, we may gradually increase your Cash Relief account rating.
As you repay our trust, you may enjoy improved flexibility to apply for more in the future if need be. Your maximum credit limit at any one time is determined by lots of different factors we take into account and is shown when you login to your online account. Our biggest loan is $600, an amount only available to customers who have shown completely responsible use of the service over a significant period of time.
Reasonable Enquiries
Because we want the loan to be right for you we will enquire about your financial situation. We need to be sure you can afford the repayments. This is why we ask questions about your income, expenses, look at your bank statements and review your recent credit history. You need to be honest answering these questions – the last thing either of us want is for you to be struggling financially to meet the loan repayments.
ID verification & Credit Check
Part of our responsible lending process includes collecting personal information. This includes requesting photo identification like a driver license or passport, a proof of address and copies of your bank statement to verify certain information. We respect your privacy and discretion and we don’t contact your employer unless you ask us to.
Other personal information we may request at our own discretion is a credit check. We do this as part of our assessment of the suitability and affordability of a credit account for you. We understand that from time to time people may have credit troubles and therefore, if you have a bad credit rating we may still lend to you.
Cost
Cash Relief is not the cheapest way to borrow money, but we are fast, most convenient and very flexible. It’s a bit like using a taxi to get around – it’s not economical if you use one too frequently, but paying a premium for speed, convenience and flexibility in the short term makes perfect sense from time to time.
Financial Guidance
We do not want you to borrow more than you can afford. We encourage all our clients to always plan their budgets prior to signing and read the loan contract and disclosure statement. For this purpose, you may find it helpful to use one of the following websites if you have any further concerns:
Lending Advice Video
Not sure if you should get a loan? Look at the videos called “It’s all good” from the NZ Commerce Commission which explain your rights. It’s all good
Registered Financial Services Provider
Cash Relief uses Acorn Finance 2012 Limited as it’s financial service provider. Acorn Finance is New Zealand Government registered and the number is FSP246365.
All registered financial service providers must be a member of an approved disputes resolution scheme. We are registered with Financial Services Complaints Ltd www.fscl.org.nz.
