Direct Cash Orders Limited t/a

DCO FINANCE

Terms and Conditions

At DCO FINANCE we try to provide you with as much upfront information as possible to enable you to make informed decisions.


  1. If you sign a loan agreement with DCO FINANCE (whether as borrower or guarantor) you will be liable for the repayment of the loan.

  2. DCO FINANCE encourages you to seek independent advice and is willing to provide the contract documents upon request for you to do this before you enter into a loan agreement.

  3. The borrower and guarantor are all liable to repay the loan in full. This means DCO FINANCE may claim the total amount payable from one of you or all of you.

  4. Most loan agreements with DCO FINANCE are secured using either household chattels or a motor vehicle belonging to you. If the loan falls into default through arrears, this security may be seized and sold to pay the balance owing.

  5. Most loan agreements with DCO FINANCE can be cancelled within 5 working days of signing, as long as notice is given in writing or in person at a branch of DCO FINANCE. To cancel, you will need to return the loan cash given, pay for interest for the time you had the cash and any external costs incurred that are not able to be cancelled (i.e PPSR Registration etc.)

  6. MINI FLEX and FLEXI ONLY: Interest, administration and repayment waiver (if selected) will be charged at the end of each month while a balance remains outstanding. Repayment waiver can be cancelled by either party at any time after the effective date of this agreement with 30 days written notice. Repayment waiver can be opted into at any time by the debtor after the effective date of this agreement with 30 days written notice. If account becomes subject to a repayment waiver claim, the ability to make withdrawals will be cancelled. The minimum withdrawal that can be made (unless facility cancelled) is $150. A withdrawal fee as specified on page 3 will be charged to the account upon every withdrawal. Withdrawals will be credited overnight to the specified bank account held on file. This cannot be modified without approval and a 3-month bank statement of the new proposed bank account will need to be supplied. At any time, this account can be closed by full repayment of the outstanding balance along with any applicable fees and charges not yet posted. There will be no additional fee or charge for full settlement. Upon this account having a nil or credit balance, it will be deemed closed. Closed accounts cannot be re-opened. To meet requirements under The Responsible Lending Code, a revised budget, 3-month bank statement and proof of address must be supplied to Direct Cash Orders Limited t/a DCO FINANCE at least once every 6 months (or upon circumstance change). Failure to provide information as requested will result in the ability to withdraw being cancelled. Failure to replace any missed or reversed payment within 48 hours will result in the ability to withdraw being cancelled. If any hardship information becomes known, such as Kiwisaver hardship withdrawals or budgeter notifications, the ability to make a withdrawal will be cancelled and negotiations will commence to restructure the agreement if necessary. Should this product be discontinued, the ability to make withdrawals from this account will be cancelled. Direct Cash Orders Limited t/a DCO FINANCE reserves the right to cancel the ability to make withdrawals from this account at any time and for any reason. At any time, the debtor and/or guarantor may request in writing for the credit limit to be lowered or the ability to make withdrawals to be cancelled. This will take effect immediately once received. Once the ability to withdraw has been cancelled, it cannot be re-instated for this loan agreement.

  7. Method of charging interest: Interest charges are calculated by multiplying the unpaid balance at the end of each day by a daily interest rate. The daily interest rate is calculated by dividing the annual interest rate by 365. Interest is charged to your loan agreement every end of month. If you pay more than the contractual payment amount, the loan agreement will receive less interest. If you pay less than the contractual payment amount (or miss payments) more interest will be charged than what is estimated on the initial disclosure document along with default interest, fees and charges. Default interest is charged using the same method but by using the arrears amount at the end of each day as the basis.

  8. Credit Agencies:
    1. You understand that DCO FINANCE is asking you for personal information about you so as to use CENTRIX's credit reporting or any other NZ credit reporting agency (herein referred to the agencies) to credit check you. You understand that:
      1. The agencies will give DCO FINANCE information about you for that purpose and DCO Finanace will give your personal information to the agencies, and that the agencies will hold that information on their systems and use it to provide their credit reporting service.
      2. When the agencies other customers use the agencies credit reporting service, the agencies may give the information to those customers.
      3. DCO FINANCE may use the agencies credit reporting services in the future for purposes related to the provision of credit to you. This may include using the agencies monitoring services to receive updates if any of the information held about you changes.
      4. If you default in your payment obligations to DCO FINANCE, information about that default may be given to the agencies, and the agencies may give information about your default to other agency customers.
    2. In respect of DCO FINANCE providing a credit facility and undertaking periodic reviews or for the requirements of the Anti-Money Laundering and Countering Financing Terrorism Act 2009, you authorise DCO FINANCE to make credit references and other enquiries within DCO FINANCE's normal procedures. For this purpose, DCO FINANCE may seek from any such source information concerning you.
    3. You also authorise the collection and disclosure of all information relevant to your accounts including repayment history information from/to any credit reporting agency. Credit reporting agencies may use information disclosed by DCO FINANCE to update their credit reporting database, and disclose any information that they hold about you to their own customers as permitted under the Credit Reporting Privacy Code. In addition, DCO FINANCE may use any service provided by our credit reporting agencies to receive updates of the information it holds about you.
    4. In the event that you are in default under any credit facility from DCO FINANCE, DCO FINANCE is authorised to disclose all relevant information about you, to and for the use by, credit reporting agencies, debt collection agencies and law firms.

  9. You understand that if your application is unsuccessful with DCO FINANCE, your details will be passed where possible to LEAD MARKETS, OVERFLOW or other similar platform to try to find another lender to process your application.

  10. Click here to view other terms and conditions that apply for all loan type agreements with DCO FINANCE.