top of page
APPLY
Sweet As Money

Standard Terms & Conditions

This document sets out the standard terms and conditions that apply to any loan application made to ATA Sweet Limited trading as Sweet As Money (we, our, us) and if we agree to provide a loan, the terms and conditions on which the loan is provided. This document includes key information about loan repayments, interest and fees charged, and what actions we may take if you do not repay the loan on time or otherwise break these terms and conditions. If you have any questions please contact us at clientservices@sweetasmoney.co.nz.

1. Definitions

Some of the words used in these Standard Terms and Conditions have specific meanings, as set out below:

Amount Owing means the total amount owing by you to us under the Loan Agreement from time to time, including any Interest and Fees.

Drawdown Date means the date described as such in the Loan Approval Confirmation.

Default Interest has the meaning set out in clause 9.

Default Interest Rate has the meaning set out in the Loan Approval Confirmation.

Fees means the fees described in the Loan Approval Confirmation, but are subject to any variation as set out in clause 7.

Insolvency Event means if you take any step to enter into any arrangement with your creditors, if you are in our reasonable opinion insolvent or otherwise unable to pay your debts as they fall due, are adjudged bankrupt, commit any act of bankruptcy or have a receiver, manager or official assignee appointed over part or all of your assets, or you die.

Interest has the meaning set out in clause 6.

Interest Rate has the meaning set out in the Loan Approval Confirmation, but is subject to variation as set out in clause 6.3.

Loan Amount means the principal amount that we loan to you under the Loan Agreement.

Loan Agreement means a combination of the following documents: these standard terms and conditions, any specific facility or product terms and conditions, our Privacy Policy, the Loan Approval Confirmation, the Loan Disclosure Statement and any variation agreement(s).

Loan Application means any application that you submit to us for a loan.

Loan Approval Confirmation means the notice that we provide to you if we accept your Loan Application, which sets out the Loan Amount, Interest Rate, Fees, Default Interest Rate, Repayment Amounts and dates, Loan Repayment Date, and any specific terms and conditions.

Loan Repayment Date means the date that you are required to repay in full the Loan Amount and all Interest and Fees to us by, so that there is no Amount Owing.

Loan Term means the duration from the date of the Loan Approval Confirmation to the Loan Repayment Date. Repayment Amounts means the scheduled repayment amounts that you are required to repay to us during the Loan Term, as set out in the Loan Approval Confirmation.

we, our or us means ATA Sweet Limited trading as Sweet As Money.

Working Day has the meaning set out in the Credit Contracts and Consumer Finance Act 2003.

you or your means the person or people that are named in the Loan Application.

1.1.

2.1.

2.2.

2.3.

2.4.

2.5.

2.6.

2. Key Information

By submitting a Loan Application, you are asking to borrow money from us, and you agree to all of the terms and conditions of the Loan Agreement. The Loan Agreement requires you to repay the money we lend you, and Interest and Fees. Paying Interest and Fees will mean you repay more than the Loan Amount that we advance to you

If you receive a Loan Approval Confirmation but decide the Loan Amount or the Loan Agreement is not suitable for you, you can cancel the Loan Agreement within the timeframes set out in clause 3.6 below.

You can repay the Amount Owing in full at any time by following the process in clause 4 below.

Some parts of your Loan Agreement can change during the Loan Term, as set out in clause 12 below.

You must comply with your obligations set out in the Loan Agreement, including paying all Repayment Amounts. There are consequences if you do not comply with your Loan Agreement obligations, as set out in clause 8 below.

If you suffer hardship and cannot meet your obligations set out in the Loan Agreement, please contact us and we may be able to provide you with options and/or support to help you to meet your Loan Agreement obligations. Further information is set out in clause 15 below.

3. Loan

Loan Application: By making a Loan Application, you are asking us to consider providing a loan to you, and you are agreeing to the Loan Agreement which includes agreeing to repay the Loan Amount plus Interest and Fees by paying the Repayment Amounts to us, and agreeing to comply with the Loan Agreement.

3.1.

Loan Agreement: If we issue you with a Loan Approval Confirmation, then we are accepting your Loan Application (whether in full or in part) and are agreeing to lend you the Loan Amount and are agreeing to comply with our obligations under the Loan Agreement. The Loan Agreement becomes binding on us and you when we issue the Loan Approval Confirmation, however, you do have the right to cancel set out in clause 3.6 below. If you do not exercise your right to cancel set out in clause 3.6, you are deemed to have accepted the Loan Approval Confirmation.

3.2.

Credit Availability: We are not obliged to approve any Loan Application that you make, and acceptance is at our discretion. We may approve the full amount of the loan that you request in the Loan Application or part of it. You must ensure that all information set out in the Loan Application is true, correct and complete.

3.3.

Conditions: Before we can pay the Loan Amount to you, we must be satisfied that;

(a) any conditions set out in the Loan Approval Confirmation, or that we otherwise ask you to complete, have been completed;

(b) you have provided us with a direct debit authority;

(c) your nominated bank has accepted your direct debit authority; and

(d) your financial circumstances have not materially changed from the information you provided to us in your Loan Application.

3.4.

Drawdown of loan: We will pay the Loan Amount to your nominated bank account on the later of the Drawdown Date or the satisfaction of the conditions described in clause 3.4. We may cancel the Loan Agreement if the conditions described in clause 3.4 have not been satisfied within 7 working days after the Drawdown Date, or if you have not nominated your bank account within 7 working days after the Drawdown Date. If you would like to amend the Drawdown Date please contact us to discuss.

3.5.

Your right to cancel: You may cancel the Loan Agreement by notifying us within 7 Working Days after the date that the Loan Disclosure Statement is provided to you. Your notification must use one of the methods of communication noted in the Loan Disclosure Statement or as set out in clause 19 below. If you exercise this cancellation right you agree:

(a) to repay the Loan Amount together with any accrued interest; and

(b) we do not have to repay any Fees already paid by you to us in relation to your Loan Agreement where the costs covered by the Fees have been incurred by us.

3.6.

4. Repayment

Repayment Amounts: You agree to repay the Loan Amount plus all Interest and Fees on or prior to the Loan Repayment Date. You agree to make all Repayment Amounts on or prior to the dates described in the Loan Approval Confirmation in the manner detailed in the Loan Approval Confirmation. The Repayment Amounts include all Interest and Fees.

4.1.

Nature of payments: Each payment that you are required to make under the Loan Agreement must be paid in one sum, in cleared funds, and without set-off or deduction. You must ensure that you have sufficient funds in your bank account (that are available for your use) that the payment is being made from to ensure the payment is successfully made without being reversed or dishonoured.

4.2.

Timing: Each payment that you are required to make under the Loan Agreement must be received into our bank account by 4pm NZST on the date that the payment is due. Any payment received into our bank account after 4pm will be deemed to have been made the next Working Day.

4.3.

Early Repayment: You may pay any amount required to be paid under the Loan Agreement earlier than the date the payment is due without an early repayment fee, charge or penalty applying. You may repay all Amounts Owing to us earlier than required by the Loan Agreement, without an early repayment fee, charge or penalty applying. If you chose to repay all Amounts Owing early, then Interest will apply up to the day that you make payment of all Amounts Owing to us.

4.4.

Allocation of payments: We may allocate any payment you make as follows:

(a) firstly in payment of any amount in default;

(b) secondly in payment of any Interest and or Fees; and

(c) thirdly in payment of any Repayment Amount.

4.5.

5. Direct Debit Authority

Direct debit: You authorise us to debit your bank account by way of a direct debit, each of the Repayment Amounts due under the Loan Agreement and any other amounts payable by you under the Loan Agreement.

5.1.

Debit card charges: If any direct debit is unsuccessful or dishonoured for any reason, you authorise us to charge such amount to any debit card held by you. You agree to provide us with your debit card information on request, and you authorise us to retain such information for the Loan Term. You agree to give all such payment instructions to the issuer of the debit card as may be required to give effect to such charge.

5.2.

6. Interest

Interest will be charged: We will charge you, and you agree to pay, interest on the Loan Amount from the Drawdown Date until the Loan Amount is repaid in full, calculated in accordance with clause 6.2 below (Interest).

6.1.

Interest Calculation: Interest is calculated and accrues on a daily basis, and is payable in arrears. The daily interest rate is calculated by dividing the annual Interest Rate by 365. Interest for a day is calculated by multiplying daily interest rate by the remaining balance of the Loan Amount at the end of that day. Interest for a period of time is calculated by adding together the Interest for each day within that period of time. Interest is incorporated into the Repayment Amounts, unless we notify you otherwise.

6.2.

Interest Rate Changes: You agree that we can change the annual Interest Rate, or any other particular in relation to how any Interest is calculated or applied, at any time by providing at least 5 Working Days’ notice to you.

6.3.

7. Fees

Our right to charge Fees: We will charge you, and you agree to pay, the Fees. All Fees must be paid within 5 Working Days of us notifying you that they have been incurred.

7.1.

Fee Changes: You agree that we can change the method of calculation of any Fee at any time by providing at least 5 Working Days’ notice to you.

7.2.

8. Default

What is a default: You will be in default of the Loan Agreement if:

(a) you fail to pay any money to us on or prior to the due date for payment:

(b) you do something which you have agreed not to do, or fail to do something you have agreed to do, under the Loan Agreement;

(c) you have provided misleading or incorrect information to us, or have acted fraudulently, in connection with your Loan Agreement;

(d) your financial circumstances change in a material way and we believe you will not be able to pay all the Repayment Amounts or other amounts owing under the Loan Agreement; or

(e) you experience an Insolvency Event.

8.1.

What happens if you default: If you are in default of the Loan Agreement, then subject to any of our other rights and/or remedies, we may take steps to recover any money you owe us, being one or more of the following:

(a) we may require you to comply with your Loan Agreement, by providing you with written notice;

(b) we may require you to make payment of any amount that you have not paid, by providing you with written notice;

(c) we may accelerate your repayment obligations in the Loan Agreement, so all Amounts Owing become immediately due and payable, by providing you with written notice;

(d) terminate the Loan Agreement, and all Amounts Owing will become immediately due and payable, by providing you with written notice;

(e) we may charge default Interest and Fees in accordance with clause 9 below;

(f) we may report the Amount Owing and your default to one or more credit reporting agencies;

(g) enforce any security that we hold;

(h) engage a debt collection agent to recover the Amount Owing;

(i) assign the Loan Agreement to a third party; or

(j) exercise any other rights and powers available to us under this Loan Agreement or at law.

Hardship: You must always comply with your obligations under your Loan Agreement and as described in clause 8.2, there are serious consequences if you default under your Loan Agreement. However, if you are experiencing difficulties in paying the Repayment Amounts or any other amount payable under the Loan Agreement, please contact us immediately. We may be able to work with you to support you and provide you with further information that may help you to meet your obligations under the Loan Agreement. Please refer to clause 15 of these terms regarding how to make a hardship assistance application.

8.2.

8.3.

9. Default Fees and Interest

9.1.

Default Fees: If you do not pay any amount that you are required to pay to us under the Loan Agreement on or prior to the due date for payment, then we may charge and you must pay any Fees that apply on default, and if the Fee is payable on a daily basis, for each day that you remain in default.

Default Interest: If you do not pay any amount that you are required to pay to us under the Loan Agreement on or prior to the due date for payment, then we may charge and you must pay default interest on the unpaid amount until the unpaid amount is paid to us in full (Default Interest). Default Interest is calculated and accrues on a daily basis, and is payable in arrears. The daily default interest rate is calculated by dividing the annual Default Interest Rate by 365. Default Interest for a day is calculated by multiplying the daily default interest rate by the amount unpaid at the end of that day. Default Interest for a period of time is calculated by adding together the Default Interest for each day within that period of time.

Our Costs on default: You agree to pay to us any costs or expenses we may incur as a result of your default of this Loan Agreement and any costs or expenses we incur if we enforce our rights under the Loan Agreement as a result of your default under the Loan Agreement. Our costs and expenses will depend on the methods we use to enforce our rights, but include all legal costs, other professional advisor fees, taxes (where relevant) and any amount that we are required to pay to a third party debt collection agent.

9.2.

9.3.

10. Electronic Communications and Electronic Signing

Electronic Communications: You consent to receive notices, documents and disclosure statements, as required by the Credit Contracts and Consumer Finance Act 2003, and any other communications in relation to your Loan Agreement, being sent to you, or made available via SMS, email or any other electronic means. You agree to notify us if your contact information changes.

10.1.

Unsubscribe: You agree to receive commercial electronic messages from us of a marketing nature, but may unsubscribe by activating an unsubscribe feature in such message or contacting us on clientservices@sweetasmoney.co.nz .

10.2.

11. Your Information

We will use your personal information in accordance with our Privacy Policy. We may also request further information from you or others where we reasonably believe you have or may have defaulted under the Loan Agreement, for the purpose of establishing whether you are in default of the Loan Agreement.

11.1.

12. Variations to your Loan Agreement

12.1.

Where you agree to changes to the Loan Agreement: If you would like us to consider a variation to the Loan Agreement, you must notify us, and if we would like you to consider a variation to the Loan Agreement we will notify you. We may request further information from you before agreeing to any variation to the Loan Agreement. If any Fees apply to the variation of the Loan Agreement, we will notify you prior to you accepting the variation. If we and you agree to vary the Loan Agreement, then we must sign a written agreement for the variation to be effective.

12.2.

When we may vary these Terms or your Loan Agreement: We may make variations to the Interest Rate and Fees, as set out in clauses 6.3 and 7.2 above by providing at least 5 Working Days’ notice to you.

13. Assignment

You may not assign: The Loan Agreement is personal to you, and you may not assign, transfer or novate any of your rights and/or obligations under it to any third party unless you have obtained our prior written consent.

13.1.

13.2.

We may assign: We may assign, transfer or novate, all or part of our rights, interests and obligations under the Loan Agreement to a third party without your consent, provided that we give notice to you.

14. Termination

Your Rights: You may terminate this Loan Agreement at any time by notifying us and immediately repaying the then current Amount Owing to us.

14.1.

15. Application for Hardship Assistance

15.1.

Hardship: If you are in an unforeseen financial position and you are unable to pay the Repayment Amounts, or comply with your other obligations in the Loan Agreement, because of illness, injury, loss of employment, end of a relationship or other reasonable cause, we encourage you to apply, in writing, to vary your Loan Agreement.

Application for Hardship Assistance: To apply for hardship assistance, you need to make an application to us via email at clientservices@sweetasmoney.co.nz, providing the following:

(a) an explanation, outlining the reason(s) for the application for assistance, clearly setting out your reasons for the application for assistance and include supporting information/documentation, such as your last three months bank statements, showing your income and expenditure; and

(b) requesting one of the following:

  (i) an extension of the term of the Loan Agreement, which will reduce the amount of each payment due under the Loan Agreement); or

 (ii) a postponement of the dates on which payments are due under the Loan Agreement (*specify the period for which you want this to apply); or

 (iii) both of the above.

What we are unable to change: An application for hardship assistance will not reduce your Interest rate or the total amount you are required to pay under your Loan Agreement. You will still be required to pay the total amount under your Loan Agreement however payments may be spread over a longer term or there may be an opportunity have a “break” from payments for an agreed period. Any application for hardship will be at our discretion. If you apply for hardship once, you will have to wait four months, under the same Loan Agreement, with the same reason, to reapply. For the best possible outcome, contact us as soon as possible if your situation changes.

15.2.

15.3.

16. Disputes

Internal Dispute Resolution (IDR): If you have not been able to resolve an issue with one of our client service agents, please send your complaint, in writing, to complaints@sweetasmoney.co.nz, including the following information:

(a) Full name;

(b) Loan Agreement reference number;

(c) Contact details including phone and email;

(d) Full details of your complaint and how you would expect we reasonably resolve the issue;

16.1.

Internal complaint review: All complaints will be reviewed and processed by our Dispute Resolution Officer.

External Dispute Resolution: We are a member of Financial Services Complaints Limited (FSCL), which is an approved dispute resolution scheme. Our FSCL member number is 8290. It is free to make a complaint to this independent dispute resolution body. They will help to resolve any disagreements you have with us. They can be contacted on:

Website: www.fscl.org.nz

Phone: 0800 347 257

Email: complaints@fscl.org.nz

Physical Address: Financial Services Complaints Ltd, Level 4, 101 Lambton Quay, Wellington, 6011 Postal Address: PO Box 5967, Wellington, 6140

16.2.

16.3.

17. New Zealand Law

The Loan Agreement is governed by the laws of New Zealand and the New Zealand Courts shall have the non-exclusive jurisdiction to determine any dispute arising in relation to the Loan Agreement.

17.1.

18. Severance

If any provision of this Loan Agreement is found to be illegal, invalid or unenforceable, that provision shall be read down to the extent necessary and reasonable in all circumstances to give it a valid operation or partial character. If any provision cannot be so read down, that provision will be void and severable and the remaining provisions will not in any way be affected or impaired.

18.1.

19. Notices

19.1.

Any notice(s) required to be given under the Loan Agreement must be in writing. Notices shall be sent to the applicable party’s registered address, address set out in the Loan Agreement, or as updated from time to time by a party by sending written notice to the other party. Any notice(s) shall be deemed to be duly given or made if delivered by hand, when so delivered; if sent by post, on the fifth working day following posting; if communicated by email when transmitted with no indication of incomplete transmission to the recipient's last known facsimile number or email address.

Privacy Policy

Sweet As Money (“we”, “us”, “our”) is a trading name of ATA Sweet Limited, Company Number 8036577, NZBN 9429048376853, FSP 744611.

Your privacy is important to us and we take the collection, use, disclosure and protection of your personal information seriously. We understand that if you provide personal information to us, you are trusting us to use your personal information for proper purposes only. We will take all reasonable steps to ensure the personal information you provide to us is protected, with security measures to reduce the risk of misuse or unauthorised disclosure.

What Personal Information do we collect?

In order to operate our business and provide services to you, we will collect personal information from you when you visit our website, enquire about our services, make an application for credit, or otherwise interact with us. The personal information may include, but is not limited to, your name, address, location, telephone numbers and date of birth, employment details, email address, IP address and other electronic information, and financial information such as your banking information, credit history, transaction history, personal references and payment information.

 

When you provide us with your personal information, you are consenting to our use of such information and our right to disclose it to third parties in accordance with this Privacy Policy and the Privacy Act 2020.

How do we collect your personal information?

We may collect information directly from you or from a third party such as a credit reporting agency, other credit providers and your employer. We collect personal information in a variety of ways, including, but not limited to:

Directly from you:

When you complete and submit your application for credit;

When providing you with the use of our services and products;

When you make enquiries of our products and services through telephone, via email, or through facilities on the website www.sweetasmoney.co.nz such as online chat, or other means of electronic messaging;

When you subscribe to communications from us or a third party, we hold a partnership with and who you have authorised us to disclose your personal information;

When you authorise a third party to disclose your personal information to us or authorise us to obtain personal information from a third party, for the purposes of the services we provide.

Publicly available information:

From service providers we may engage to assist in meeting our internal policy rules and other compliance obligations; When you use our website, which automatically captures certain information about you. This includes, but is not limited to, tracking software, which allows us to record user activity on our website, including, without limitation, IP address, source or origination, browser and operating system and site usage. This can be limited by altering your browser settings.

Bank scraping verification:

By providing authorisation for us to obtain copies of your most current bank statements, for the purpose of assessing and verifying your application for credit. The bank verification services does not give us the ability to view, access or store your login details.

Why do we need to collect your personal information?

We will collect your personal information for the purposes for which you supplied it (either to us or a third party that has engaged us), that you have specifically authorised as described in this Privacy Policy, and/or for the purposes otherwise permitted under the Privacy Act 2020, including, but not limited to:

  • to process your application for credit, including assessment of your ability to meet our lending criteria, your suitability to borrow and to understand your financial position at the time of applying with us;

  • to provide you with our services that you have requested, or to respond to any enquiry;

  • to verify your identity;

  • to confirm your creditworthiness;

  • for our internal databases;

  • for debt collection purposes;

  • for enforcement of the agreed terms of credit, in the event you default on payment;

  • we make your personal information available to third parties who may have products and services that we consider may be of interest to you, or who may wish to offer you their products or services;

  • to communicate with you about our products and services and those products and services offered by our affiliate partners, that may be of interest to you: including targeted mailing lists when you provide your name, phone number and email address;

  • to identify and avoid money laundering and counter financing of terrorism activities;

  • to identify and avoid fraud;

  • for audit and regulatory compliance;

  • personal information we collect automatically via our website is used for statistical purposes to assist us to better understand how the website it used.

 

You can decide not to share your personal information with us, but it will limit what we can do for you. If you do not provide requested information, then we may not be able to offer or deliver you our products or services, manage your products or services, or respond to your queries.

 

If you directly provide us with your email address or phone number, you consent to us contacting you for commercial, marketing and promotional purposes and to providing your details to third parties where they may have products or services of interest to you. If you wish to opt out of such emails, please notify us at clientservices@sweetasmoney.co.nz, or activate the unsubscribe facility.

We will disclose your personal information to others:

We will only share your personal information with third parties where we are permitted under this Privacy Policy, under the Privacy Act 2020, or where you have specifically authorised us.

We will share personal information with third parties when:

  • you authorise us to do so;

  • you provide consent (either to us or a third party engaged to provide services);

  • it is related to the purposes for which you provided the information;

  • we use other companies and individuals to perform services on our behalf that is part of our undertaking services for you, such as sending correspondence (including mail and email);

  • processing payments;

  • conducting loan collection or enforcement services when enforcing our rights;

  • we share your information with credit reporting agencies for the purpose of obtaining a credit check on you. These agencies are required to comply with the Credit Reporting Privacy Code and are required to use your information in accordance with that code; and

  • to protect Us against unlawful activity, fraud, or any danger to public safety, we are otherwise required by law, or if we need to enforce any of our Credit Contract with you, including our Standard Terms and Conditions.

How do we protect your information?

We are committed to keeping the personal information you provide to us safe. We have implemented a variety of appropriate security measures to ensure your information is protected and may use reasonable safeguards, such as file encryption technology to secure the transmission of sensitive information from time to time.

 

Your information is stored physically and/or electronically on servers and IT systems. We may engage third parties to store personal information, including at data storage facilities or cloud storage within or outside New Zealand.

 

When we transfer your information to a third party our contract with the third-party company will require that third-party to protect your personal information. If a third-party is located outside of New Zealand we shall ensure that such entities have similar levels of privacy protection as New Zealand.

 

We do not accept liability for any loss, damage, however caused (including through negligence) which you may directly or indirectly suffer in connection with any linked website, nor do we accept any liability for any such loss arising out of your use of, or reliance on information accessed through our website. Where you access a link through our website, we encourage you to review the privacy policy of any linked website.

What do we do if there is a breach of your privacy?

If we discover there has been a privacy breach, then we will identify the breach and take reasonable steps to minimise any harm caused by the breach.

 

If we believe any breach of privacy poses a risk of serious harm or is likely to cause serious harm, then we shall notify the Privacy Commissioner and affected parties.

 

Should you believe there has been a breach of your privacy, please contact us as soon as possible.

Your right to access your personal information:

You have the right to access any personal information we hold about you, and to request the correction of any personal information held by us. If you have any questions about our privacy policies or practices, you wish to access or request the correction of any personal information, or you wish to complain about how we are treating your personal information, you can contact us at clientservices@sweetasmoney.co.nz. Alternatively, you can contact the Privacy Commissioner via the website www.privacy.org.nz.

 

If your personal details change, we require you update your details with us. Holding up-to-date information about you is important for us to provide the best service to you and allows us to discharge our obligations under any credit contracts with you.

Cookies:

We may use cookies, and similar technology to collect information when you use our website. Cookies are small text files containing small amounts of information that are downloaded to (or read off) your computer or device when you visit certain websites. This small text file enables data (potentially including personal information) to be stored. This data allows you to be recognised when you return to our website.

 

We may use cookies to:

  • assist us in providing you with the best service;

  • remember your preferences;

  • personalise our services;

  • assist us in the management of our content and website functionality; and

  • identify the effectiveness of our content and advertising.

 

You can choose to turn off cookies by changing your browser settings. However, this may result in reduced functionality and/or limited access to some websites.

Amendments:

In the event we amend this privacy policy, we will post the revised version on our website. The most recent version of this privacy policy will apply.

Direct Marketing:

By providing us with your personal information you consent to us contacting you via email, telephone, or SMS. We will not be responsible if any message is received by a third-party who has access to your computer, mobile phone, or telephone. You may elect not to receive marketing materials by activating the unsubscribe facility in the message or by contacting us at clientservices@sweetasmoney.co.nz.

How to contact us:

If you have any queries about this Privacy Policy, or the personal information we have collected, please contact: E: clientservices@sweetasmoney.co.nz; or A: PO Box 86, Hamilton, 3240

bottom of page