Applying for a Loan Approved, Loan application form with a pen on a desk with an approved stamp

Payday loans in NZ are rising in popularity for a number of reasons. In this post, we’ll be looking at 4 key facts about these fast payout loans that might surprise you. Have a look through and see if this immediate funding solution might be worth considering in future.


  1. Payday loans don’t always take an entire day to process

At Pretty Penny Loans, we advise that our loans usually take up to 24 hours to be paid right into your bank account. In reality, we can sometimes have the money paid to you within hours. If you have your government issued ID and bank statements ready when you apply, we’ll get on with assessing your needs as fast as we can. If all goes well, you could have the funds much sooner than you’d think.

There are some payday companies out there that claim to be able to pay out within minutes. These vendors are either lying or handing out loans without proper assessment, which is highly irresponsible. You’ll want to dodge these kinds of providers as much as possible. Our team is very proud of our ability to process payouts the same day you apply. This is as fast or faster than any other credible payday loans company in NZ will ever offer.    


  1. We care more about your financial well being than most institutions

The biggest banks in the country don’t really see you as a person’s, they see you as a collection of numbers. We hate this approach just as much as you do! It’s in our best interest that our customers pay back their loans as smoothly as possible, which is why we work with you to ensure your experience is perfectly manageable for your individual circumstances.

We know how important it is for people to track their budgets closely, which is why we try to help by sending helpful notifications reminding you of your repayment dates and outlining what you’ll be expected to pay as clear as day in our offers. Where other loan providers might try and hide fees, or sneak in penalties, we know this way of doing things doesn’t help anybody.

When you can’t pay back what you owe, we lose out. That’s why we have a much more open-minded approach when customers communicate truthfully with us about their individual needs.  


  1. Loan limits can increase for trusted customers

When it comes to new customers, we always advise that you apply for the minimum amount you need to borrow that is well within your means to pay back using your next payment from work. Once you’ve borrowed successfully from us more than once, we’ll be able to see that you’re a very responsible borrower. This then helps us lend to you in future with less hesitation and faster processing times.  

Customers that have a history of borrowing from us smoothly are welcome to contact us should they even find themselves in need of greater levels of funding. The loan still needs to be for personal emergencies and not for luxury buys or ventures. Investments always come with some level of risk, so you should never use a payday loan to back them. But we understand that things happen in life and you never know when a tough financial situation might strike.

It’s a great idea to stick with us should you ever need a second payday loan in future. The benefits of your repeat custom could prove very handy if you need emergency access to great levels of funding over the coming years.


  1. You can apply for a payday loan while on welfare

As we mentioned previously, the assessment process for payday loans in NZ is primarily based on consistent income. Even if you are not working, you can still apply. Let us know how much you’re receiving per month and we’ll do our best to help you as much as we can.

Just like any other applicant, you’ll need your ID and proof of your welfare payments via your latest bank statements. Without this information we’ll be unable to process your application and there’ll be a major delay to your payout.  

You can read more about payday loans in NZ here, or in our previous blog post: The Best Benefits Of Payday Loans In NZ With No Employer Contact

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