INITIAL DISCLOSURES

Loan Agreement Terms and Conditions

 

Please read all of the information and statements below carefully before you lodge an online application or apply by telephone for a loan.  If you do not fully understand anything stated below, please ask us for help, or seek independent legal and financial advice. 

Important Warnings and Recommendations

The following statements gives you information about an agreement (“Loan Agreement”) that you may enter into with Quadsaa (Pty) Ltd (FSP526046) with operates under the trading name Pretty Penny Loans (PPL). 

Important warning about the Loan Agreement

PPL offers Emergency Loans.  These loans are designed to assist you get through to you next payday for those times when you are struck with an unexpected bill or need cash fast.  Therefore they are only suitable for short term needs, not for long term or regular borrowing.

Independent Advice

PPL recommends that seek independent legal advice prior to accepting the terms of the Service Agreement.  If you require more time to seek this advice, please advise your customer service operator and we will ensure you have reasonable time to seek this advice with no penalty to your application or additional costs.

In cases where an offer is only valid for a certain time, we will advise you how long your offer is valid for and make all reasonable effort to ensure that you have time to seek independent  advice.

Authorisations and Consents

It is contemplated that you and PPL may enter into an agreement (“Loan Agreement”). By contacting PPL about entering into a Loan Agreement, you acknowledge and agree that:

  1. You are at least 18 years old, of sound mind and judgment and able to make decisions regarding your finances;
  2. You understand that you have the right to get independent legal and financial advice before entering into the Loan Agreement;
  3. If you have any questions about the terms of the Loan Agreement you will not enter into a Loan Agreement unless those questions are answered to your satisfaction;
  4. The Loan Agreement may be entered into electronically /verbally over the phone by being read and explained to you and you indicating that you have understood and agree to the terms and conditions of that agreement.
  5. If you do not wish to be bound by the Loan Agreement, or if you wish to obtain independent legal or financial advice in relation to it, or if you do not fully understand all of the terms and conditions of the Loan Agreement, you will indicate to the PPL telephone operator that you do not wish to enter into the Loan Agreement;
  6. Once you indicate to the PPL telephone operator that you have understood and agree to the terms and conditions of the Loan Agreement, and funds have been advanced by PPL, that you will be bound by the Services Agreement as if you had signed a hard copy of the Loan Agreement;
  7. The terms and conditions of the Services Agreement and any related materials and information (“PPL Materials”) may be provided, or otherwise made available, to you electronically;
  8. Paper documents may no longer be provided to you;
  9. You will regularly check your nominated email account for Pretty Penny Loans Materials;
  10. You may at any time withdraw consent for the Pretty Penny Loans Materials to be provided electronically.
  11. You confirm that you are not a Politically Exposed Person (PEP).

Initial Disclosure as per the Credit Contracts and Consumer Finance Act

Full name and address of creditor

Full Name
Quadsaa (Pty) Ltd

Trading Name
Pretty Penny Loans

Address
PO Box 11360, Palm Beach, Papamoa 3151, NZ

Initial unpaid balance

The initial unpaid balance, and a breakdown of the costs of the initial unpaid balance will be provided to you clearly in the Loan Agreement after you have been assessed.

Subsequent advance

This statement only applies to this loan.  If you choose to borrow from PPL in the future, you will be provided with another Initial Disclosure statement and Loan Agreement which will supersede this statement.

Total advances

This Loan Agreement only provides for one advance.  If you require further advances from PPL in the future, you will be provided with another Initial Disclosure statement and Loan Agreement.

Credit limit

The credit limit will be provided to you clearly in the Loan agreement after you have been assessed.

Annual interest rate

Our Annual Interest Rate is 365% which works out to be 1% per day. As our loans are only for short term emergency situations, an Annual Interest Rate doesn’t give a clear picture of what Pretty Penny Loans cost. To get a better idea of how much a Pretty Penny Loan costs, please go to our costs calculator in the menu above.

Method of charging interest

Interest is calculated and charged daily on the remaining outstanding balance of your loan.  The interest will be repaid as part of your loan repayments as per you loan agreement.

Total interest charges

The total interest charges will be provided to you clearly in the Loan Agreement after you have been assessed.

Interest free period

PPL Loans do not provide for an Interest Free Period.

Credit fees and charges

Mandatory Fees

Account Set Up Fee – $24.00

This fee is charged at the establishment of your first loan for the setting up of you account and is payable as part of your loan repayments.  Once you have repaid your first loan, this fee is not charged on subsequent loans unless your account is closed at your request or as a result of default and we need to reopen it.

Establishment Fee – $64.00

This fee is charge at the establishment of all loans and is payable as part of your loan repayments

Optional Service Fees

Same Day Deposit Fee – $12.00
This fee is charged at the establishment of your loan if you choose to use the optional PPL Guaranteed Prioritised Same Day Deposit Service. The fee is payable as part of your loan repayments. If you choose not to use this service, you do not need to pay this fee. Note: If the funds do not get to your account on the same day prioritised clearance, we will remove all services fees and interest from the loan. This means you will only have to pay back the principal of what you borrowed (deviations to the original contract such as defaults and optional changes to payment will still incur interest charges and associated fees).

Priority Transfer Fee – $12.00
This fee is charged at the establishment of your loan if you choose to use the optional PPL Guaranteed Prioritised Same Day Deposit Service. The fee is payable as part of your loan repayments. If you choose not to use this service, you do not need to pay this fee. Note: If the funds do not get to your account on the same day prioritised clearance, we will remove all services fees and interest from the loan. This means you will only have to pay back the principal of what you borrowed (deviations to the original contract such as defaults and optional changes to payment will still incur interest charges and associated fees).

Extension of First Payment Fee – $20.00
This fee is charged at the establishment of you loan if you choose to use the PPL Extension of First Payment Service.  The fee is payable as part of your loan repayments.  If you choose not to use this service, you do not need to pay this fee.

Fees Charged as a Result of the Loan Agreement Changing

Default Fee – $13.00

This fee is charged in the event that you default on your Loan Agreement.  It is payable as part of your loan repayments.

Change of Payment Fee – $10.00

This fee is charged in the event that you request a change to your repayment schedule under you Loan Agreement prior to your Loan Agreement falling into default.

Investigator/Hand Over Fee – 17.25% of Total Payout

This fee is charged prior to the event that your loan is sent to our affiliate External Collections Agency as a result of failure to repay your loan.

Payments required

The payments required are dependent on the loan amount, term, and number of payments you choose when setting up your loan with PPL.  The full payment schedule will provided to you clearly in your loan agreement.

Full prepayment

You are welcome to payout out loan at any time prior to the date prescribed by the loan agreement.  PPL does not charge any prepayment fees.

Security interest

PPL does not take any security interests for its loans.

Default interest charges and default fees

If your loan falls into default, it may affect your interest rate and you may be charged a default fee.  Information regarding the ways interest may be varied and default fees can be found in the relevant sections above (see Annual Interest Rate and Credit Fees and Charges).

PPL will make all reasonable attempts to contact you and inform you of your defaulting payments as well putting a new payment arrangement in place. However, after 2 consecutive defaults PPL will attempt to take the principal amount of the loan 1 business day before your usual repayment cycle.

Debtor’s right to cancel

The Credit Contracts and Consumer Finance Act 2003 gives you a right for a short time after the terms of this contract have been disclosed to you to cancel the contract.

How to cancel

If you want to cancel this contract you must give written notice to PPL.
You must also return any advance and any other property received by you under the loan agreement to PPL.

Time limits for cancellation

If the disclosure documents are handed to you directly you must give notice that you intend to cancel within five (5) working days after you receive the documents.

If the disclosure documents are sent to you by electronic means (for example, e-mail) you must give notice that you intend to cancel within seven (7) working days after the electronic communication is sent.

If the documents are mailed to you, you must give the notice within nine (9) working days after they were posted.

Saturdays, Sundays, and national public holidays are not counted as working days.

What you may have to pay if you cancel

If you cancel the contract the creditor can PPL may charge you—

(a) the amount of any reasonable expenses the creditor had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports, etc); and

(b) interest for the period from the day you received the advance until the day you repay the advance.

This statement only contains a summary of your rights and obligations in connection with the right to cancel. If there is anything about your rights or obligations under the Credit Contracts and Consumer Finance Act 2003 that you do not understand, if there is a dispute about your rights, or if you think that the creditor is being unreasonable in any way, you should seek legal advice immediately.”

Debtor’s right to apply for relief on grounds of unforeseen hardship

If because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, you are unable to meet your obligations under the loan agreement.  You may be able to apply for relief on the grounds of unforeseen hardship.

How to Apply

Must Expect to be Able to Meet Obligations

To apply you must reasonably expect to be able to meet your obligations under the loan agreement it one or more of the following terms of your loan agreement are changed:

  • Extending the term of the loan agreement and reducing the amount of each payment due under the loan agreement accordingly (without a negative change being made to the interest payable)
  • Postponing, during a specified period, the dates on which payments are due under the loan agreement (without a negative change being made to the interest payable)
  • Extending the term of the loan agreement and postponing the dates on which payments are due under the loan agreement (without a negative change being made to the interest payable)

Method of Applying

Applications for relief on the grounds of hardship must be:

  • In writing
  • Given to PPL
  • Specify the reasonable cause of the hardship

Making Multiple Applications


Under the act, you are not permitted to make multiple applications for relief on the grounds of hardship for the same loan agreement unless:

  • the application is made 4 months or more after the previous application or,
  • PPL agrees to consider the application or,
  • the reasons for hardship are materially different from the reasons given in the previous application
Continuing disclosure statements

You will receive continuing disclosure statements at least every 6 months for the duration of your contract

Consent to electronic communications

You may contact us electronically, simply click on the contact us link on our website www.prettypenny.co.nz

Dispute Resolution

If you have a dispute, please contact the PPL Internal Dispute Resolution Department (IDR Department).  The trained staff will attend to your dispute in a friendly and professional manner and work with you to find a fair outcome for you and PPL.  The contact details for the IDR Department are:

Phone: 04 830 3487

Email: complaints@prettypenny.co.nz
Fax: 
09 523 6772

Post: The IDR Department
Pretty Penny Loans
PO Box 11360, Palm Beach,
Papamoa, 8540, NZ

If the IDR Department fails to find a solution to your dispute, you can further refer your dispute to our External Dispute Resolution (EDR) Scheme.  PPL is a member of the EDR scheme, Financial Services Complaints Limited (Member Number: 5902).  Their contact details are as follows:

Phone: 0800 347 257
Email: complaints@fscl.org.nz
Fax: (04) 472 3728

Post: PO Box 5967
Wellington, 6011
Address: Level 4, 101 Lambton Quay
Wellington, 6145

Registration under Financial Service Providers (Registration and Dispute Resolution) Act 2008

PPL is registered under the register of financial service providers as:

Registration Number: FSP526046
Registration Name: Quadsaa (Pty) Ltd

Third party Direct Debit Agreement

PayGate Pty Ltd | IntegraPay Pty Ltd

Direct Debit Authority Terms and Conditions

Terms

1. Parties

The “Facility Owner” means Quadsaa Pty Ltd, trading as Pretty Penny Loans, Company Number 5724527.

“Payment Contract” means the Agreement in which the Customer has agreed to pay for the service provided by the Facility Owner. Hereafter referred to as the “Agreement”

“The Provider” means one of the Third Party Direct Debit Users listed above or another provider engaged by the Facility Owner at any time of which will be notified via email.

The Customer acknowledges that the Provider has been contracted by the Facility Owner to collect the payments due under the Agreement in return for having an entitlement to use the services provided by the Facility Owner.

Nothing contained in the Payment Contract shall render the Provider, the agent of the Facility Owner, for any purpose other than the collection of payments due and payable under the Agreement.

You acknowledge that the Provider shall not in any way be liable to you for the provision of Services.

For the purpose of the Contracts Privacy Act 1982, you acknowledge that all rights of the Facility Owner pursuant to this Agreement may be enforced by the Provider, as if it were the Facility Owner, without requiring your consent or any involvement on the part of the Facility Owner.

2. Payments

The Provider shall administer the collection of payments due by you to the Facility Owner. All payments due by you shall be made directly to the Provider in the manner specified in the Agreement.

It can take up to three (3) days for payments to be processed from your account. Your obligations under this agreement is to ensure sufficient funds remain available to cover the instalment amount specified in this agreement for at least three (3) days after the nominated instalment date

Your obligations under this Agreement shall continue for the Term. Any failure by you to avail yourself of the Services does not absolve you from your obligations under this Agreement.

3. Rejection Fee

The Provider may charge a rejection fee for every payment that is dishonoured by your bank.

4. Overdue Fee

The Provider may charge overdue fees if your account is overdue.

Conditions of this Authority to Accept Direct Debits

The Initiator:

(a) Has agreed to send Notice of the net amount of each Direct Debit no later than the day the Direct Debit is initiated. This notice will be provided in writing (including by electronic means and SMS where the Customer has provided prior written consent (including by electronic means including SMS) to communicate electronically).

The notice will include the following message:

“The amount of $……….., was Direct Debited to your Bank account on (initiating date).”

(b) May, upon the relationship which gave rise to this Authority being terminated, give notice to the Bank that no further Direct Debits are to be initiated under the Authority. Upon receipt of such notice the Bank may terminate this Authority as to future payments by notice in writing to me/us.

2. The Customer may:

(a) At any time, terminate this Authority as to future payments by giving notice of termination to the Bank and to the Initiator by means agreed by the customer, Bank and Initiator.

(b) Stop payment of any Direct Debit to be initiated under this authority by the Initiator by giving written notice to the Bank prior to the Direct Debit being paid by the Bank.

(c) Where a variation to the amount agreed between the Initiator and the customer from time to time to be Direct Debited has been made without notice being given in terms of clause 1(a) above, request the Bank to reverse or alter any such Direct Debit initiated by the Initiator by debiting the amount of the reversal or alteration of a Direct Debit back to the Initiator through the Initiator’s Bank PROVIDED such request is made not more than 120 days from the date when the Direct Debit was debited to my/our account.

  3. The Customer acknowledges that:

(a) This authority will remain in full force and effect in respect of all Direct Debits passed to my/our account in good faith notwithstanding my/our death, bankruptcy or other revocation of this authority until actual notice of such event is received by the Bank.

(b) In any event this authority is subject to any arrangement now or hereafter existing between me/us and the Bank in relation to my/our account.

(c) Any dispute as to the correctness or validity of an amount debited to my/our account shall not be the concern of the Bank except in so far as the Direct Debit has not been paid in accordance with this authority.  Any other dispute lies between me/us and the Initiator.

(d) Where the Bank has used reasonable care and skill in acting in accordance with this authority, the Bank accepts no responsibility or liability in respect of:-

– the accuracy of information about Direct Debits on Bank statements; and

– any variations between notices given by the Initiator and the amounts of Direct Debits.

(e) The Bank is not responsible for, or under any liability in respect of the Initiator’s failure to give notice in accordance with 1(a) nor for the non-receipt or late receipt of notice by me/us for any reason whatsoever.  In any such situation the dispute lies between me/us and the Initiator.

(f) The direct debit authority will remain in place under the nominated bank account for the direct debit user employed or any other direct debit user employed in the future.

4. The Bank may:

(a) In its absolute discretion conclusively determine the order of priority of payment by it of any monies pursuant to this or any other authority, cheque or draft properly signed by me/us and given to or drawn on the Bank.

(b) At any time terminate this authority as to future payments by notice in writing to me/us.

(c) Charge its current fees for this service in force from time to time.

PayGate Direct Debit Request Service Agreement

PayGate

Initiator: PayGate NZ Ltd
Company NZBN: 9429041742402

I/we authorise PayGate, as the Debit User, User ID number 314753, to make withdrawals from my/our nominated account as determined by the centre named above.  PayGate, as the Debit User, acts as the billing agent for the centre named above and the service is administrative only and does not extend to the provision of any service or benefits provided by the centre named above.  An administration fee of 0.46¢ is applied to each transaction.

You Acknowledge that there may be a delay in processing if:

1) There is a public or bank holiday on the day, or any day after the debit date

2) A payment request is received by PayGate on a day that is not a Banking Business Day

3) A Payment request is received after normal operational hours, being 4pm Monday to Friday. Any payments that fall due on any of the above will be processed on the next business day.

Fees Charged to you by PayGate

Bank Account Transaction Fee

$0.46

Transaction Dishonor Fee

$4.95

TERMS & CONDITIONS OF THIS PAYMENT CONTRACT

 

This Payment Contract stands pursuant to the terms and conditions of any contractual agreement between you, the Customer, and the Business providing you with the goods &/ or services. PayGate provides only administration of this authority acting as a billing agent for the Business, and does not extend to the provision of any goods &/or services.

  1. It is your responsibility to have sufficient funds in your nominated account to permit a successful debit to be made.
  2. If a debit is returned unpaid by the financial institution you will be responsible for payment of the debit plus any return fees and administrative costs incurred.
  3. No account records or account details will be disclosed to any persons except where such information is required in connection with any claim relating to an alleged incorrect or wrongful debit.

CONDITIONS OF THIS AUTHORITY TO ACCEPT DIRECT DEBITS

The Initiator:

Undertakes to give notice to the Acceptor of the commencement date, frequency and amount at least 10 calendar days before the first Direct Debit are drawn (but no more than 2 calendar months). This notice will be provided either:

  1. in writing; or
  2. by electronic mail where the Customer has provided prior written consent to the Initiator

Where the Direct Debit system is used for the collection of payments which are regular as to frequency, but variable as to amounts. The initiator undertakes to provide the Acceptor with a schedule detailing each payment amount and each payment date. In the event of any subsequent change to the frequency or amount of the Direct Debits, the initiator has agreed to give advance notice of at least 30 days before changes come into effect. This notice must be provided either:

  1. in writing; or
  2. by electronic mail where the Customer has provided prior written consent to the Initiator

May, upon the relationship which gave rise to this Authority being terminated, give notice to the Bank that no further Direct Debits are to be initiated under the Authority.  Upon receipt of such notice the Bank may terminate this Authority as to future payments by notice in writing to me/us.

The Customer may:-

  1. At any time, terminate this Authority as to future payments by giving written notice of termination to the Bank and to the Initiator.
  2. Stop payment of any Direct Debit to be initiated under this Authority by the Initiator by giving written notice to the Bank prior to the Direct Debit being paid by the Bank.
  3. Where a variation to the amount agreed between the Initiator and the Customer from time to time to be direct debited has been made without notice being given in terms of 1(a) above, request the Bank to reverse or alter any such Direct Debit initiated by the Initiator by debiting the amount of the reversal or alteration of the Direct Debit back to the Initiator through the Initiator’s Bank, PROVIDED such request is made not more than 120 days from the date when the Direct Debit was debited to my/our account.

 

The Customer acknowledges that:-

  1. This authority will remain in full force and effect in respect of all Direct Debits passed to my/our account in good faith notwithstanding my/our death, bankruptcy or other revocation of this authority until actual notice of such event is received   by the Bank.
  2. In any event this authority is subject to any arrangement now or hereafter existing between me/us and the Bank in relation to my/our account.
  3. Any dispute as to the correctness or validity of an amount debited to my/our account shall not be the concern of the Bank except in so far as the Direct Debit has not been paid in accordance with this authority. Any other dispute lies between me/us and the Initiator.
  4. Where the Bank has used reasonable care and skill in acting in accordance with this authority, the Bank accepts no responsibility or liability in respect of:
    1. the accuracy of information about Direct Debits on Bank statements;
    2. any variations between notices given by the Initiator and the amounts of Direct Debits.
  5. The Bank is not responsible for, or under any liability in respect of the Initiator’s failure to give written advance notice correctly nor for the non-receipt or late receipt of notice by me/us for any reason whatsoever. In any such situation the dispute lies between me/us and the Initiator.
  6. Notice given by the Initiator in terms of clause 1(a) to the debtor responsible for the payment shall be effective. Any communication necessary because the debtor responsible for payment is a person other than me/us is a matter between me/us and the debtor concerned.

 

The Bank may:-

  1. In its absolute discretion conclusively determine the order of priority payment by it of any monies pursuant to this or any  other authority, cheque or draft properly executed by me/us and given to or drawn on the Bank.
  2. At any time terminate this authority as to future payments by notice in writing to me/us.
  3. Charge its current fees for this service in force from time-to-time.

 

Clear Funds

  1. You should ensure that you have sufficient clear funds in your account to enable the DDR to be honoured by your financial institution. If you are unable to make payment either of the amount requested or on the date selected, you should contact the entity as soon as possible and make an alternative arrangement. Direct debits normally occur overnight;  however  transactions  can take up to three (3) days depending on your financial institution.

 

Non Business Days

  1. If the debit day falls on a day that is not a business day, we may direct your financial institution to debit your account on the previous business day. If you are unsure about which day your account has or will be debited you should ask your financial institution.

Direct Debit Authority Terms & Conditions

 

1. PARTIES

The “Facility Owner” means the organisation providing the service for which the Customer is paying. The “Customer” means the person or party signing this Payment Contract.

“Payment Contract” means the Agreement in which the Customer has agreed to pay for the service provided by the Facility Owner. Hereafter referred to as the “Agreement”

“The Provider” means one of the Third Party Direct Debit Users listed above.

The Customer acknowledges that the Provider has been contracted by the Facility Owner to collect the payments due under the Agreement in return for having an entitlement to use the services provided by the Facility Owner.

Nothing contained in the Payment Contract shall render the Provider, the agent of the Facility Owner, for any purpose other than the collection of payments due and payable under the Agreement.

You acknowledge that the Provider shall not in any way be liable to you for the provision of Services.

For the purpose of the Contracts Privacy Act 1982, you acknowledge that all rights of the Facility Owner pursuant to this Agreement may be enforced by the Provider, as if it were the Facility Owner, without requiring your consent or any involvement on the part of the Facility Owner.

 

2. PAYMENTS

The Provider shall administer the collection of payments due by you to the Facility Owner. All payments due by you shall be made directly to the Provider in the manner specified in the Agreement.

It can take up to three (3) days for payments to be processed from your account. Your obligations under this agreement is to ensure sufficient funds remain available to cover the installment amount specified in this agreement for at least three (3) days after the nominated installment date

Your obligations under this Agreement shall continue for the Term. Any failure by you to avail yourself of the Services does not absolve you from your obligations under this Agreement.

 

3. REJECTION FEE

The Provider may charge a rejection fee for every payment that is dishonoured by your bank.

 

4. OVERDUE FEE

The Provider may charge overdue fees if your account is overdue.

 

Conditions of This Authority to Accept Direct Debits

 

  1. The Initiator:
    1. The initiator undertakes to give notice to the acceptor of the commencement date, frequency and amount at least 10 calendar days before the first Direct Debit is drawn (but not more than 2 calendar months). This notice will provided either:
      1. in writing: or
      2. by electronic mail where the customer has provided written consent to the initiator. Where the Direct Debit system is used for the collection of payments which are regular as to frequency, but variable as to amounts, the initiator undertakes to provide the acceptor with a schedule detailing each payment amount and each payment date. In the event of any subsequent change to the frequency or amount of the Direct Debits, the initiator has agreed to give advance notice at least 30 days before the change comes into effect.
    2. May, upon the relationship which gave rise to this Authority being terminated, give notice to the Bank that no further Direct Debits are to be initiated under the Authority. Upon receipt of such notice the Bank may terminate this Authority as to future payments by notice in writing to me / us.
  2. The Customer: The customer may:
    1. At any time, terminate this authority as to future payments by giving written notice of termination to the Bank and to the Initiator.
    2. Stop payment of any Direct Debit is to be initiated under this authority by the initiator by giving written notice to the bank prior to the Direct Debit being paid by the bank.
    3. Where a variation to the amount agreed between the initiator and the customer from time to time to be direct debited has been made without notice being given in terms of clause 1(a) above, request the bank to reverse or alter any such direct debit initiated by the initiator by debiting the amount of the reversal or alteration of a Direct Debit back to the initiator through the initiator’s bank. PROVIDED such request is made not more than 120 days from the date when the Direct Debit was debited to my/our account.

    The Customer acknowledges that:

    1. This authority will remain in force and effect in respect of all Direct Debits passed to my/our account in good faith notwithstanding my/our death, bankruptcy or other revocation of this Authority until actual notice of such event is received by the Bank.
    2. In any event this Authority is subject to any arrangement now or hereafter existing between me/us and the Bank in relation to my/our account.
    3. Any dispute as to the correctness or validity of an amount debited to my/our account shall not be the concern of the bank except in so far as the Direct Debit has not been paid in accordance to this authority. Any other disputes lies between me/us and the initiator.
    4. Where the bank has used reasonable care and skill in acting in accordance with this authority, the bank accepts no responsibility or liability in respect of:
      • the accuracy of information about Direct Debits on bank statements
      • any variations between notices given by the initiator and the amounts of the Direct Debits.
    5. The Bank is not responsible for, or under any liability in respect of the initiators failure to give written advance notice correctly nor for the non-receipt or late receipt of notice by me/us for any reason whatsoever. In any such situation the dispute lies between me/us and the initiator.
    6. Notice given by the initiator in terms of clause 1(b) to the debtor responsible for the payments shall be effective. Any communication necessary because the debtor responsible for payment is a person other than me/us is a matter between me/us and the debtor concerned.
  3. The Bank: The bank may:
    1. In its absolute discretion conclusively determine the order of priority of payment by it of any monies pursuant to this or any other authority, cheque of draft properly executed by me/us and given to or drawn on the bank.
    2. At any time terminate this authority as to future payments by notice in writing to me/us.
    3. Charge it current fees for this service in force from time to time.

 

LOAN AGREEMENT TERMS & CONDITIONS
Please read all of the information and statements above carefully before you lodge an online application or apply by telephone for a loan. If you do not fully understand anything stated below, please ask us for help, or seek independent legal and financial advice.

Pretty Penny Loans products are only suitable for short-term needs. They are not suitable for long-term or regular borrowing.