Terms & Conditions

This page contains a standard version of our loan terms and conditions which you will be required to accept before proceeding with a loan advance from cantwait.com.



PO BOX 979 / TAURANGA (07) 577 0136





Please Read before Borrowing: It’s important that you can make an informed decision about our short-term loans so please read these carefully and print or save them to file.

If you don’t understand anything in the Terms and Conditions that will be provided to you or have any questions, ask us before you accept them by contacting us at manager@cantwait.co.nz or by phoning (07) 5770136.

A CWL 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, 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.

We use the information you provide to us to help assess your ability to meet your repayment obligations to us without incurring undue hardship. It is therefore important that you provide us with accurate information.

If you have any concerns about your ability to meet your obligations, you should consult an independent advisor before you enter this agreement. We do not provide financial advice.

Advice can be found at MoneyTalks

Free & confidential budgeting & financial capability advice is available by contacting:

Email: help@moneytalks.co.nz

Address: Level 7/330 Lambton Quay / Wellington 6011

Phone: 0800 345123

This Loan Agreement records the Loan Particulars and Conditions of the loan between Cantwait.com Ltd (CWL-The lender) and you (The Borrower) and incorporates the disclosure information required for the purposes of the Credit Contracts and Consumer Finance Act 2003.







The Credit Contract and Consumer Finance Act 2003 gives you the right to cancel this Loan Agreement within 5 working days after the terms and conditions have been disclosed to you.

If you wish to cancel your request must be by email to manager@cantwait.co.nz. CWL will only charge you interest for the number of days that you have had the use of our money plus any setup or schedule change fees that may be applicable. 



By submitting an online application at our website www.cantwait.com you understand and agree that CWL may contact you, from time to time, at your email address, phone number or by any other electronic means to help administer and manage your loan with CWL and to offer you any new services or products we feel may interest you.

If you do not want to be contacted by CWL with information regarding new products and services, please request this by sending an email to manager@cantwait.co.nz

If, after submitting your loan application you decide that you do not want to proceed with the loan application you can email manager@cantwait.co.nz and request that any information held on the CWL database about you is deleted.

CWL collects information that you have provided to us when you complete and submit our online application process. This information may include your full name, date of birth, address, employment information, telephone numbers, email address, bank account details and transaction history, Driver Licence and/or 18+ card and/or passport information. If CWL performs a credit check on you that information will also be retained.

CWL uses the information provided by you to: Process your loan application, understand your financial needs, assess your current and on-going creditworthiness, administer your loan contract, comply with CWL’s legislative obligations, including but not limited to anti-money laundering legislation and enforce its legal rights if necessary.

CWL may share information held about you to government or regulatory authorities, law enforcement agencies, debt collection agencies, and credit reporting bureau, third parties who it authorizes to carry out any activity connected with your loan application (including but not limited to Credit Sense Australia) and any person or Company who may purchase CWL’s database as an asset of CWL

CWL takes all reasonable steps to ensure that the personal information we collect, use or disclose is accurate, up-to-date and stored in a secure environment protected from unauthorized access or disclosure.

The Cantwait.com website and online application process is hosted on a secure server.

Personal borrower information is protected under a Fortinet (Firewall) protection with up to date virus protection, vulnerability scanning, web and email filtering. 

Your personal and loan information is held at the offices of CWL.

CWL uses a secure third-party application provided by Jotform Inc. to create and host our online forms. Information entered into these forms is stored securely on the Jotform Server accessible only by CWL staff. More information about Jotform’s privacy policy can be found at: https://www.jotform.com/privacy/

CWL keeps records that are reasonably necessary to enable a reconstruction of any given loan when requested to do so.

You can access or amend information held about you by CWL by emailing manager@cantwait.co.nz



Interest charges are calculated by multiplying the unpaid principal at the end of the day by a daily interest rate. The daily interest rate is calculated by dividing the annual interest rate by 365.





The annual interest rate is as per the per annum interest rate within the CREDIT DETAILS section above.

Interest is charged daily as per the daily interest rate within the CREDIT DETAILS section above on the unpaid principal amount.

Interest is not compounding.

This interest rate will remain the same for the term (life) of this loan.

Each loan repayment you make will repay part of the principal loan amount plus interest and any fees incurred. 

The unpaid loan balance will get lower as you make repayments, providing you stick to the repayment schedule specified within this loan agreement, until your loan is repaid in full.

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



Fee Type

Amount Charged

Charge Conditions


As per the “Credit Details” Section above.

Applied to all loans. Added to the borrow amount to become the unpaid initial loan balance. Interest will be charged on the unpaid balance at the standard interest rate stated within the "credit details" section of this loan agreement. 

This fee covers the costs associated with the application for credit, processing & considering the application, documenting the loan contract, and advancing the loan. It also includes any third-party costs incurred by CWL in creating your loan.

Schedule Change


Charged immediately when a loan repayment schedule needs to be adjusted due to any of the following situations: 

A loan repayment defaults.

A schedule change request is received.

When an unexpected manual repayment is received by CWL. 

This fee covers the cost of CWL staff administering your enquiry,

re-calculating your loan repayment schedule, updating your CWL client record and notifying you, by email, phone, or txt of this change.

Repayment Processing & Loan Administration  




$3.00 - Covers CWL staff costs plus the associated third-party costs of actioning a scheduled direct debit through our third-party direct debit initiator Flo2Cash or processing a loan payment made manually. This fee is applied at each loan repayment date.

$2.00 – Covers the cost of staff administering your loan on the CWL loan management system.

Express Processing Fee. (Optional)


Charged when selected during the online application process. 








The borrowers bank account must be an open and active New Zealand bank account in respect of which you have full operating authority and into which your wages or salary are paid. 

Only one bank account per borrower will be stored within CWL’s system at any one time.

New loans will be transferred into the borrower’s recorded bank account unless otherwise authorized by CWL management.

Loan repayment direct debit repayments will be taken from the borrower’s bank account stored within CWL records unless otherwise authorized by CWL management.

Changes to a borrower’s recorded bank account are invalid unless authorized by CWL management.

When changing a borrower’s bank account, CWL will require proof of ownership of the new account and will require the borrower to fill in, sign and return a new direct debit authority form.



You confirm that on the day of electronically accepting 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 and circumstances which might affect CWL’s decision to lend to you.



You confirm that, to your knowledge, 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.



Upon final loan approval, CWL will send an approval email with a loan agreement (This Loan Agreement) .pdf attachment file to the borrower’s nominated email address. The approval email will ask that the borrower open, read, understand and accept the repayment schedule and terms and conditions of the loan agreement before being directed to follow a specified link to a loan acceptance form on CWL website.

Loan acceptance will be considered to be received once the borrower has filled in and submitted the loan acceptance form online.



On normal business days CWL run payment batches at 4pm. If your loan acceptance response has been received it will be transferred in the next payment batch.

If you have requested the express payment option CWL staff will transfer your loan into your bank account as soon as possible after your loan acceptance response has been received.

On Weekends and Statutory Holidays CWL will transfer loans into the borrower’s bank account on the next scheduled payment batch. If the express payment option is requested, CWL will transfer the funds into the borrower’s bank account as soon as possible after the loan acceptance response has been received.

On Weekends and Statutory Holidays CWL can only transfer loans to borrowers who hold Kiwibank, ANZ, ASB or BNZ bank accounts.

CWL accepts no responsibility, or liability, for any delay in loan payment to you resulting from matters outside our control. These may include, but are not restricted to, your bank’s payment processing systems or malfunctions.



Allocation of your repayment amounts will be prioritized towards the incurred interest and remaining principal. 

The borrower’s repayment amounts will be calculated in such a way that the final repayment of the schedule will settle all owing balances of the loan.



CWL will direct debit loan repayments from your nominated bank account on the dates outlined in the Repayment Schedule above or dates included in subsequent adjustment repayment arrangements you may receive. 

CWL will email a copy of any adjusted repayment schedule to your recorded email address.

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

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

Given the term of the loan is for less than six months CWL has no obligation to provide continuing disclosure but will do so in the unlikely event the loan term extends to that period.



Early Repayment may incur a $10 schedule change fee.

Early repayment can be requested by the borrower by emailing manager@cantwait.co.nz or by calling 07 577 0136.

CWL will calculate and provide the amount required to settle the loan for the requested date of settlement.

Provided Settlement amounts will include all incurred interest up to and including the date of settlement and all previously incurred unpaid fee amounts.



Schedule adjustment requests must be received at least 24 hours prior to the date of your next direct debit.

Requesting an adjustment to your repayment schedule including a postponement request, date change or lowering the repayment amount request will incur a $10 schedule change fee. 

The Fee of $10 will be applied to your remaining loan repayments and this fee will be spread out over any remaining loan repayments (except in the case where an adjustment request is received as part of a hardship application).



CWL will always align your loan repayment dates with the dates your salary or benefit is paid into your nominated bank account. 

By signing this loan agreement, you are authorizing CWL the right to adjust your loan repayment dates if CWL becomes aware that the payment dates you have provided differ from the date your wages or benefit are actually paid into your nominated bank account. 

You will be notified of any changes to the loan repayment dates within 5 days of the changes taking effect.



By signing this loan agreement, you are authorizing CWL the right will adjust your loan repayment amounts and any applicable interest or fees in CWL has been required to adjust your loan repayment dates (as per clause above). You will be notified of any changes to the loan repayment amounts within 5 days of the changes taking effect. 




If extra repayments are made towards your loan outside of your current repayment schedule, except in the case of full repayment, CWL reserves the right to apply a $10 schedule change fee. You will be advised, by email, of the adjusted loan repayment schedule.



If an over payment occurs CWL will give the borrower the option for the funds to be refunded to the bank account on file within their CWL account or have the overpayment credited to any currently active loans the borrower may have.



If your direct debit authority is cancelled, CWL may request that your repayment schedule be met by you making repayments manually via internet banking or directly through a bank branch.

CWL will advise the borrower if manual repayments are needed to meet your loan repayment obligations.

Automatic reminders will be sent to the borrower before the date of the scheduled manual repayment.

A scheduled manual repayment will be in default if contact requesting a schedule alteration is not received prior to the due date.

A scheduled manual repayment will be in default if the full repayment is not received within two business days of the date due.




If your normal regular payday falls on a stat day or weekend, you will be issued with a repayment schedule that adjusts for this and will move the affected repayment date forward to the previous business day immediately preceding the affected date.





Your loan repayment is processed and the repayment reverses.

Your direct debit authority is cancelled by yourself or by your bank without our knowledge and/or consent.

Your nominated bank account is closed before full repayment of your loan is received.

You knowingly provide false or misleading information to Cantwait.com at any time.

You leave the country or your place of employment without making arrangements for your payment obligations to be met.

You apply for bankruptcy or become insolvent.

You breach any other term of this Agreement



We strongly urge all our borrowers to keep in contact with CWL if you have repayment issues, we will endeavor to work out a mutually suitable repayment solution plan. Refer also to our section on unforeseen hardship below.

Referral to a collection agency may not only affect your ability to borrow money in the future but it may substantially increase the total amount you need to repay.

If you know you won’t be able to meet this obligation you need to contact CWL as soon as possible before the due date of the direct debit. We can then work with you to bring the loan repayments back on schedule.



CWL does not charge default fees however a schedule change fee may be incurred because of a defaulted repayment if the borrower’s repayment schedule needs to be recalculated.



You will be in default and 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.

CWL will attempt to make contact using the information provided to us by you or a third party to discuss a new repayment arrangement and repayment options.

CWL may at its discretion lower your repayment amounts and extend your loan term to help settle your loan.

CWL may rework your repayment schedule to align with your future payday(s) or any other day that we believe you may receive a regular income, including benefits.

The full amount may become payable in full immediately. Regular interest will be applied at the usual daily rate until your account is settled in full or passed onto a collection agency

We may, at our sole discretion, refer the debt to our collection agency. In this event, you will be liable for any reasonable collection’s costs incurred.

CWL may send your account to its collection agency to collect any amount that is outstanding. The collection agency will apply their own reasonable collection costs to your total debt and will attempt to contact you on our behalf to arrange a repayment arrangement.

CWL or our collection agency may load your default with a credit reporting agency, which may affect your future borrowing ability and/or your credit rating.

CWL may sell or assign your debt to a debt collection agency. If this occurs your debt will belong to the debt collection agency and you will need to deal with them directly. You will be advised of any assignment.



If you are not reasonably able to keep up on your repayments to us, you may be able to apply to us for a hardship variation. Unforeseen hardship is classed as illness/injury/redundancy/relationship breakups (including the death of your partner) or anything which would reasonably cause you to be unable to pay your repayments.

If you experience unforeseen hardship, we will work with you to establish a mutually acceptable repayment plan for your loan.

If unforeseen events affect your financial circumstances and you wish to apply for a hardship variation you must notify CWL in writing explaining the reason for your application. The best way is by emailing manager@cantwait.co.nz  or filling in the CWL online hardship application form as soon as possible. If you delay, we may not have to consider your application.

When you make an application, you need to request one or both of:

Extending the term of the loan and reducing the amount of each payment.

Postponing, during a specified period, the dates on which payments are due. 


If you lodge a hardship claim CWL will process this claim within 3 business days.

If the hardship claim is declined CWL will provide written reasons via email telling you why the claim has been declined.

CWL may ask for proof of any unforeseen hardship claim. This may be a redundancy letter / death certificate or medical certificate. This needs to be supplied to us within 48 hours of the request for this information.

If you default on a hardship repayment plan CWL may pursue debt repayment by normal means including but not limited to, sending the borrowers account to its debt collection agency to collect the debt.

For more information about reasonable “unforeseen hardships “contact your local Community Law Centre www.communitylaw.org.nz




You have not made a loan repayment to CWL for two months or more or you have missed 4 consecutive repayments.

You knew or had “reasonably foreseen” any of these events when you entered the loan agreement so were aware it would be unlikely that you could meet your repayment obligations to CWL.





The information supplied in your loan application and any accompanying documentation that you provided to us is true and correct to the best of your knowledge and that we can rely on it accordingly, including your employment history.

You have disclosed all information that you know could or would influence us processing and approving your application.

You were given the opportunity to seek independent advice before entering the Agreement to ensure you fully understood the terms and your obligations.



You cannot cancel the Direct Debit authority to Cantwait Ltd (CWL) and understand that if you do so you will be in breach of this Agreement.

You authorize CWL to direct debit your loan repayments from your nominated bank account or any future bank account 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 for any reason CWL will email you a new repayment schedule. There is a $10 schedule change fee applied when a repayment schedule needs to be adjusted. Interest is not charged on this fee.

You understand and agree that you need to pay interest on this Loan.

You agree and understand that you are not able to assign any rights benefits or obligations under this Agreement at any time.

You agree that CWL may transfer or assign any of its rights under this contract at any time in its sole discretion.

You agree to promptly provide CWL with any information requested by CWL relating to your financial position and to advise of any change of name and/or address details within 14 days of such change.

You agree to receive any communication including via Email, SMS, Phone Calls to personal and employment phone numbers under this Loan Agreement from CWL.

You consent to us contacting you on the telephone numbers you have provided, provided such contact is at reasonable times.

You agree to promptly provide CWL with any information requested by CWL relating to your financial position.

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

You give CWL permission under the Privacy Act 1993 to undertake a credit check on yourself and to verify your NZ identity with a Driver License check/ passport check and to hold and use this information to meet all its legal obligations.



If you have any concerns or are dissatisfied with the services CWL has provided, please let us know by emailing manager@cantwait.co.nz

Our internal complaints procedure team will be more than happy to discuss, explain and hopefully resolve any problems you may have as soon as possible.

If you are not satisfied by our response to your complaint, you can request the involvement of an External Dispute Resolution Scheme for an independent and objective review of the circumstances.

CWL is a participant in Financial Services Complaints Limited (FSCL) which is an independent dispute resolution scheme approved by the Ministry of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.



Full details of how to access the FSCL scheme can be obtained on their website www.fscl.org.nz. The FSCL services are free to consumers. 

Email: info@fscl.org.nz

Phone: 0800 347257.

Post: Financial Services Complaints Ltd, PO Box 5967 Lambton Quay Wellington



CWL is governed by New Zealand Legislation including:

The Registration and Dispute Resolution Act 2008

The Credit Contacts and Consumer finance Ac 2003

The Privacy Act 1993

The Companies Act 1993

The Fair Trading Act

Responsible Lending Code 2015


The Unsolicited Electronic Messages Act




No delay to exercise or failure to exercise any of its rights or remedies is a waiver by CWL of those rights or remedies.

CWL may vary any credit fees and charges payable under the loan agreement and will advise of any such variations in accordance with the CCCFA.

This agreement is the entire agreement between the parties and replaces all earlier understandings or agreements.

If a clause or part of a clause of this agreement is unenforceable for whatever reason, it shall not affect the validity or enforceability of the remainder of the agreement.

By completing the online application process and by accepting this loan agreement you consent to receiving Disclosure Documentation and Loan Documentation electronically via email for the purposes of the Credit Contracts and Consumer Finance Act 2003 and the Electronic Transfer Act 2002.