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Frequently Asked Questions

Commonly Asked Questions

How much can I borrow?

New customers

We let you borrow up to $500 depending on the take home pay received from your permanent job. We provide an online Loan Calculator to help determine the cost of your loan. We work out how much you can borrow using our affordability calculations which takes into account repayment amounts after fees have been added and the daily interest has been accumulated for the term of the loan compared to your normal income level. You can never borrow more than 25% of your net pay per period and must have a minimum of $400 take home pay as we want to ensure you have the means to pay us back.

Have a go at using our Online Calculator and see how honest and upfront we are about the true cost of your loan.

How much does a loan cost?

Our fee structure is transparent. We provide an online Loan Calculator to help determine the cost of your loan. Our Calculator gives you exact repayment amounts for the details you enter. You can enter various amounts and repayment dates prior to proceeding with a loan application. This way you can see what you will be paying back before you apply.

Please see Our Charges section for an example of a typical Save My Bacon short-term loan.

How do I receive my loan?

The cash is transferred directly into your bank account.

How do I repay my loan?

It's easy. Please make sure the required cash is available in your bank account as agreed. The total due will then be deducted from your bank account automatically on the repayment date/s. 

Please note that if the funds aren't available in your bank account as agreed, then you'll incur default fees towards the cost of a failed collection. The Loan Agreement Documents clearly identify default fees. Also please see What happens if you fail to stick to your arrangement?

Why do I need to contact my employer or payroll officer?

This makes it easier and faster for us to confirm and verify your application details and financial situation. We do not discuss how much you are borrowing or any other loan details. These are confidential to you and Save My Bacon Ltd.

Please remember any delays in confirming your employment details will result in delays in receiving your Save My Bacon Online Loan.

At Save My Bacon Ltd we take fraud very seriously. Checking your application details with your payroll officer/employer helps ensure nobody else uses your information fraudulently.

How quickly can I reapply for a loan?

You can reapply immediately after your final payment has been reconciled on your account, usually around 8am the following morning. However, your payment takes two business days to clear.

If you require your loan on that same day, you need to provide us with a bank clearance letter. This is a letter from your bank stating that your payment has cleared and that it will not dishonour.

To help ensure we're responsible lenders you can only have one Save My Bacon Ltd Loan at any time and a loan is not formally closed until the final payment clears.

To help ensure you are a responsible borrower, a Save My Bacon Loan should only be used to meet short-term cash needs.

What information does Save My Bacon need from my payroll officer?

When we call your payroll we tell them that we are phoning to confirm some details for one of their employees who has applied for some credit with us. We confirm all employment details provided by you in your application.

We confirm information provided by you such as:

• Your date of birth 
• Your length of employment
• Your type of employment
• Your net income 
• Your scheduled pay dates
• Your bank account details

We use this information to help in our loan decision. As responsible lenders this helps us to verify your identity. Any delays in confirming your employment details will result in delays in receiving your Save My Bacon Online Loan.

Before You Apply

When should I use Save My Bacon?

Save My Bacon online loans are a great way to get fast cash between paydays. Save My Bacon loans are for different occasional, emergency or unexpected short-term money needs.

For example, you can use a Save My Bacon loan to pay a bill on time if you're a bit short on cash before payday.

How do I apply?

Save My Bacon provides fast and convenient paperless short-term loans online. We lend up to $500 depending on the take home pay received from your permanent job (you must have a minimum of $400 take home pay to qualify).

Use our Loan Calculator to help determine the cost of your cash loan. You pick between 1 and 4 repayments depending on your pay cycle and we take them from your bank account by direct debit. To borrow from us you’ll need to complete an online application form. Successful pre-approvals are redirected to the Secured Signing Digital Webpage where you electronically sign your Loan Documents.

You will need to inform your payroll to expect a call from the Save My Bacon team. The money is then transferred into your bank account that same day provided that we receive your electronically signed Loan Documents and confirmation of employment details.

What do I need to be pre-approved?

Save My Bacon typically provides a short-term cash loan if you meet these simple Loan Requirements:

• You need to be at least 18 years of age,
• You need to live in New Zealand,
• You need to meet our minimum income test (about $400 per week),
• You need to be in permanent employment (as an employee of that company),
• You need to have an active bank account,
• Your pay needs to be electronically transferred into your bank account on a regular basis,
• You need to have access to a computer – the application is 100% online, and every customer is provided with an online account so they can view their account details,
• You need to have an active email account to allow Save My Bacon to communicate with you,
• You need to own a mobile phone. This way we can also communicate by text which includes sending you a verification code (a security feature of our service) so you can complete your application, and
• You need to complete and submit the online application form.

Do I need to fax or scan and email any documents?

No paperwork is needed. The application process is 100% online. It's that easy!*

* Subject to Save My Bacon Ltd's right to request required information via fax, scanner or other paper means.

Do I need to give a reason for my application?

No. It is our intention to lend for occasional, unexpected and emergency short-term cash needs.You can use a Save My Bacon Loan for anything legal.

Save My Bacon Ltd practices Responsible Lending. Please also act responsibly by only borrowing what you can afford to repay as agreed.

If I currently have a payday loan with another company can I apply?

As Save My Bacon are responsible lenders, we believe you should only have one payday loan at a time. We will not approve your application if we have knowledge of you using another short-term loan company. We only want to lend you what you can afford to repay. Using more than one company at a time for short-term finance can lead you into a bad debt situation.

Can I apply if I am not in permanent employment?

You need to be in permanent employment to meet our Loan Requirements.

The following applicants automatically fail pre-approval as they do not meet the permanent employment requirement:

• Beneficiary,
• Self employed,
• Unemployed,
• Part- time employed (with less than $400 net income per week),
• Temp.,
• Pension,
• Disability benefit.

Save My Bacon is a responsible lender and is committed to responsible lending practices. We want to make sure you can comfortably pay us back as agreed.

Can I make an application over the phone?

All applications need to be submitted online, via our Website, and cannot be completed over the phone. This protects you and also helps us make an instant loan decision once you have completed the online application.

What are your opening hours?

Our customer care team is available between 9am and 5pm Monday to Friday.

Please email us at: loans@savemybacon.co.nz. We always aim to respond to any email queries within 24 hours during the week. If you contact us over the weekend we’ll be in touch on Monday. Alternatively you can call our customer care team on 0800 272836.

How do weekends and public holidays affect the service?

We aren’t open in the weekends or on public holidays. This means your loan won’t be processed until the next working day. We aren’t open on these days as payroll officers aren’t available to confirm details and New Zealand banks often cannot process the payments.

What is a promo code and how do I get one?

This is a code associated with a promotion that you can use to save money on the normal cost of a loan. You enter this in the Loan Calculator when you begin your application. Each promo code has different rules, such as an expiry date, after which the promotion will no longer be valid. 

We sometimes send promo codes to customers via email or text message for various reasons.

My partner has a loan. Can I get one too?

You are welcome to apply for a loan, but you need to meet the Loan Requirements. You need to use separate bank details, email addresses and mobiles phones. This rule is part of our commitment to responsible lending and helps prevent fraud.

Do I need to be employed?

Yes, you need to be in permanent employment earning over $400 net per week. Save My Bacon is a responsible lender. We only want to lend you cash if you can afford to pay it back quickly and comfortably.

If you have just started in a job, or are just about to, we require you to have been employed for at least one pay cycle before approving a loan for you.

When I don’t have a mobile can you email the verification code?

You need to own a mobile phone to complete your application. We can’t email you a verification code for security reasons. We can only send the Verification Code to your mobile.

What should I do if I don’t receive a verification code?

When mobile networks are extremely busy your verification code can take a while to arrive by text, so please be patient. You can request another code by client on the resend verification code tab on the application page.

Please ensure your phone is with you, turned on, and not having any difficulties receiving text messages. Please also ensure you have put the correct mobile number in the application. If you have had a Save My Bacon loan before you will need to use your original number as the verification code.

If you still don’t receive a verification code, you will need to restart your application. If this still fails to give you a code please contact us on 0800 27 28 36. You will need to keep the application on the verification code section. If you move from this page your application will time out and you will require a different code.

What Happens After You Apply?

Do I need to be employed?

Yes, you need to be in permanent employment earning over $400 net per week. Save My Bacon is a responsible lender. We only want to lend you cash if you can afford to pay it back quickly and comfortably.

If you have just started a job, or are just about to, we require you to have been employed for at least one pay cycle before approving a loan for you.

How long does it take to get approved?

The Save My Bacon Online Loan application process is quick and simple!*

* Subject to Save My Bacon's right to request required information via fax, scanner, phone or other means.

Why have I been declined?

You will not be approved for a Save My Bacon Online Loan if:

• You provided false or misleading information or withheld relevant information,
• You are bankrupt,
• You are currently not in permanent employment,
• You don't meet the minimum income test ($400 per week),
• You have an outstanding short-term loan wth another finance company,
• We are unable to successfully identify your personal information,  
• Your contact information/reference information provided on your application is invalid/incorrect or fraudulent,
• We are unable to verify your bank account information,
• Your bank account number provided is not in your name,
• Your bank account conduct as shown on your bank statement (if requested) indicates you have budgetary and/or exisiting debt problems,
• You have adverse or poor credit history and this is confirmed when your bank statement is examined,
• We are unable to locate or validate your employer,
• We are unable to get hold of or confirm your personal details with your Employer/Payroll,
• Your payroll information cannot be confirmed by your Employer/Payroll Officer.

Can I still get a Save My Bacon short-term cash Loan if I have a bad credit history?

At Save My Bacon bad credit can affect whether you qualify for a loan, but it won’t rule you out. Bad credit personal loans are offered to those who can demonstrate the capacity to meet their loan repayments and future creditworthiness.

Save My Bacon runs a credit check. However don’t worry if you have a bad credit history as we may still lend to you.

Save My Bacon takes responsible lending very seriously.

 

How much can I borrow?

New customers

We let you borrow up to $500 depending on the take home pay received from your permanent job. We provide an online Loan Calculator to help determine the cost of your loan.We work out how much you can borrow using our affordability calculations which takes into account repayment amounts after fees have been added and the daily interest has been accumulated for the term of the loan compared to your normal income level. You can never borrow more than 25% of your net pay per period and must have a minimum of $400 take home pay as we want to ensure you have the means to pay us back.

Have a go at using our Online Calculator and see how honest and upfront we are about the true cost of your loan.

What if I'm already in debt?

If you know you're already experiencing sustained problems meeting existing financial commitments, please don't apply for a Save My Bacon cash advance. Our loan will only add to your financial commitments. Instead, we recommend you talk to the Citizens Advice Bureau or visit familybudgeting.co.nz for budgeting advice.

What personal information does Save My Bacon need?

We need to know basic details like your name, age, address, phone numbers, email account, bank account details and employment information. We need this information so that we can be confident of your identity and to help approve your loan.

To give yourself the best chance of loan approval, ensure you provide accurate information. For further details about the collection of, and potential uses of your information please read our Privacy Policy.

Please note, Save My Bacon takes action to help protect the personal and financial information you share with us by employing secure socket layer (SSL) encryption technology.

How much does a loan cost?

Save My Bacon is an upfront, no surprises loan company.

Our fee structure is transparent. We provide an online Loan Calculator to help determine the cost of your loan. Our Calculator gives you exact repayment amounts for the details you enter. You can enter various amounts and repayment dates prior to proceeding with a loan application. This way you can see what you will be paying back before you apply.

Please see Our Charges section for an example of a Save My Bacon Loan.

How do I know what is happening with my application?

By logging into your Account on our Website you can check on the progress of your loan. You will receive a text message from us once your application has been formally approved, or an email if we have had to decline your application. If there are any issues with your application we will contact you.

If we have not contacted you then we are still processing your application. Delays can occur due to confirming details with payroll, as they may not be available or may require us to contact them in writing.

Do I need a bank account?

Yes, a current active New Zealand bank account is required.

The bank account needs to be the same account that your employer pays your wages/salary into. This will be confirmed through your employer when we do our payroll confirmation. 

How do I know if you've received my application?

If your application has been received successfully your loan documents will be emailed directly to you.

Getting Your Loan

How long will it take to receive my loan?

We will transfer the money to your bank within 60 minutes of you receiving formal loan approval. All loan approvals need to be done before 2pm on our business days. Please see our 60 minute guarantee.

How do I receive my money?

The cash is deposited directly into your bank account.

Why do I need to contact my employer or payroll officer?

This makes it easier and faster for us to confirm and verify your application details and financial situation. We do not discuss how much you are borrowing or any other loan details. These are confidential to you and Save My Bacon Ltd.

Please remember any delays in confirming your employment details will result in delays in receiving your Save My Bacon Online Loan.

At Save My Bacon Ltd we take fraud very seriously. Checking your application details with your payroll officer/employer helps ensures nobody else uses your information fraudulently.

What information does Save My Bacon need from my payroll officer?

When we call your payroll we tell them that we are phoning to confirm some details for one of their employees who has applied for some credit with us. We confirm all employment details provided by you in your application.

We confirm information provided by you such as:

• Your date of birth 
• Your length of employment
• Your type of employment
• Your net income 
• Your scheduled pay dates
• Your bank account details

We use this information to help in our loan decision. As responsible lenders this helps us to verify your identity. Any delays in confirming your employment details will result in delays in receiving your Save My Bacon Online Loan.

Does Save My Bacon require a credit check?

Yes. Save My Bacon is committed to responsible personal lending. We aim to only lend to people who we believe can afford to repay us as agreed.

If you have a bad credit rating we may still lend to you. Bad credit personal loans are based on a customer’s capacity to meet loan repayments and future creditworthiness.

How does a "faxless" or "paperless" short-term loan work?

A "faxless" or "paperless" Save My Bacon Short-term Loan is convenient, easy and fast!

Simply fill out and submit our secure online application with the required information details about yourself, contact your payroll officer and we'll take care of the rest.

Your funds will then transfer directly into your bank account provided that the loan process is completed before 4.30 pm on our business days.

In the event that we are unable to verify the information provided in your loan application, it may be necessary for you to fax or scan and email to us the supporting Documents so we can complete the approval process.

The documents that will be requested in particular are:

• Loan Documents Signed - Please review our Terms of Use for more information.
• Bank Statements
• Payslips

If I am a returning customer, do you need to contact my employer/payroll officer again?

Yes. We need to check your continued employment when you reapply for a loan. For frequently returning customers we may consider alternative means of confirmation.

Contacting your employer/payroll officer makes it much easier and faster for us to confirm and verify your application details and financial situation. We do not discuss how much you are borrowing or any other loan details. These are confidential to you and Save My Bacon Ltd.

I've had and repaid a Save My Bacon loan before. Why have I been declined now?

We appreciate that you’ve used our service before and repaid your loan, but as responsible lenders we need to take an interest in a customer's ongoing financial health. Therefore we consider every application on an individual basis.

If your application has been declined, please check your online Account for the reason.

How much can I apply for once I have repaid my loan?

We let you borrow up to $500 depending on your net income received from paid employment.

How much you can borrow is calculated by our affordability calculations. This takes into account repayment amounts after fees have been added and the daily interest has been accumulated for the term of the loan compared to your income level.

As responsible lenders we lend what we calculate as actually affordable to you. This amount doesn’t increase after you have repaid a loan unless your income level has increased.

Can you delete my account so I can apply with a new email address or mobile number?

We do not need to delete your account to update your email address or mobile phone number. You will need to contact our customer support team and they can update these details on your Account.

If you have any other details to update, you can do this when you reapply by simply changing them on the application page.

I do not have access to my old email address so cannot recover a password. What do I do now?

You will need to contact our customer support team who can update your email address with your new one. You can then use your new email address to login and to request your password.

Why haven’t I received payment of my money?

If you have received our formally approved text message but you haven’t received your money within an hour, these are the likely reasons:

• If you belong to a smaller bank that hasn’t yet implemented systems to enable Same Day Payments, or if your application is approved after 4:30pm, then your bank will most likely show the funds in your account on the morning of the next day.
• Your Bank may be slow in showing the payment to you. If in doubt, and it still doesn't appear after 60 minutes, please contact your International Payments team at your bank.

How Do You Repay Your Loan?

How do I repay my loan?

It's easy. Please make sure the required cash is available in your bank account as agreed. The total due will then be deducted from your bank account automatically on the repayment date/s. 

Please note that if the funds aren't available in your bank account as agreed, then you'll incur default fees towards the cost of a failed collection. The Loan Agreement Documents clearly identify default fees. Also please see What happens if you fail to stick to your arrangement?

What if I have trouble repaying my loan?

If you are experiencing financial difficulties and cannot pay on the due date we can help you and will consider your circumstances both sympathetically and positively.

Please call our customer support team on 0800 2728 36.

I’d like to know how much I owe and when it’s due for repayment. How do I check these details?

You can check this information by logging into the My Account section.

What time is the repayment taken?

The amount due will be automatically deducted from your bank account overnight.

What Are The Repayment Rules?

Can I repay my loan early?

Yes, of course. You're welcome to repay your Save My Bacon Online Loan early! Save My Bacon doesn’t charge you for paying back your loan early so there will be no additional fees

The interest on a SaveMyBacon Online Loan is calculated daily. If you repay your loan early, your interest is only calculated up to when you make your last repayment!

You will need to contact our customer service team for a final balance figure on your loan.

What if I cannot pay on the due date?

If you think you will have insufficient funds in your bank account on your repayment date, you must contact us immediately to halt the direct debit. You must contact us at least two business days prior to your due date. After this time we will be unable to stop the direct debit as it will have been processed by your bank.

Am I able to delay my first repayment?

The maximum term of our loan is 31 days. This means your first repayment needs to come from your next pay date. If an application is received with these dates incorrect, then we will have to correct these.

Managing Your Loan

What if I change my mind?

For a short period of time after the terms of a loan contract have been disclosed to you, you can cancel the contract.

If you change your mind and no longer wish to take out your loan, you have five working days to return the loan proceeds to Save My Bacon and cancel your loan agreement.  Please see your Loan Agreement for a full statement of your rights and the terms and conditions of the loan. 

Do you require security?

Save My Bacon does not require security in the first instance. However, we do require a Wage Deduction Authority.

What is a Wage Deduction Authority?

To support the loan, in the event that you fail to keep your promise to repay the loan amount by the due date, you must sign SaveMyBacon Limited's Wage Deduction Authority. If you fail to make repayment, we may invoke the Wage Deduction Authority.

The Wage Deduction Authority irrevocably assigns your wages, salary, commissions and holiday pay to be paid to SaveMyBacon Limited in the event that you fail to repay your loan as agreed on the due date.

If Save My Bacon decides to invoke the Wage Deduction Authority it will then be presented to your employer (or future employers) and payment of the loan plus costs will be directly paid by your employer from your wages, salary, commissions or holiday pay to SaveMyBacon Limited.

Sustained failure to repay a loan can lead to a black mark on your credit history with credit agencies and potential legal action, both of which could make it difficult to gain credit in the future. None of this is worth risking over a few hundred dollars, so if you have doubts about whether you'll be able to repay a loan as agreed, please be responsible and don't apply in the first place.

Do I have to wait until I've paid back my current loan before I get another one?

Yes. Rollovers and additional loans can often lead to a debt spiral that can be hard to recover from. By not allowing these types of loans, we help you maintain your financial welfare.

How quickly can I reapply for a loan?

You can reapply immediately after your final payment has been reconciled on your account, usually around 8am the following morning. However, your payment takes two business days to clear.

If you require your loan on that same day, you need to provide us with a bank clearance letter. This is a letter from your bank stating that your payment has cleared and that it will not dishonour.

To help ensure we're responsible lenders you can only have one Save My Bacon Ltd Loan at any time and a loan is not formally closed until the final payment clears.

To help ensure you are a responsible borrower, a Save My Bacon Loan should only be used to meet short-term cash needs.

How do I get a bank clearance letter?

If we have requested a bank clearance letter from you, you will need to contact your Bank and ask them to fax or email us through the letter.

This is a letter stating that your payment has cleared and that it will not dishonour. Your Bank can see your payment as cleared funds straight away, but this isn’t confirmed for us until the morning of the second working day.

I have repaid my loan but it is still showing that I have an outstanding balance. Why is this?

If you have repaid your balance overnight our upload to reconcile these payments is not carried out until around 9 am the following morning. If it is after this time, and your payment hasn’t been reconciled, please contact our customer support team.

I want to change the amount I have applied for. Can I do this?

If you would like to apply for a different amount we can cancel the application for you. Once an application has been cancelled you can then resubmit an application with the correct details.

Can I add additional funds to my loan?

No. You cannot add additional funds to an existing loan.

How do I update my bank details?

If you reapply for a loan you can update your bank account details on the application page. If you currently have an existing loan you will need to contact our customer support team with the new details. Please ensure you notify your payroll of this change of bank account.