Borrower establishment fee rebate

You may be eligible to receive a rebate in respect of any establishment fees that you paid.

On 26 August 2021, we gave undertakings to the Commerce Commission that we would pay a rebate to certain borrowers who entered into a loan contract with us between 26 August 2014 and 25 August 2021.

We will contact all eligible borrowers regarding payment of such rebate. However, it may take us up to 24 months to process all payments, so we appreciate your patience.

You may also contact us on 0800 427 666 or at customerservice@harmoney.co.nz to confirm whether you will be paid a rebate, and to provide the details of your receiving bank account.

Frequently asked questions

Why is Harmoney paying a rebate in respect of its establishment fees?

Between 26 August 2014 and 25 August 2021, we charged an establishment fee for each of our loans (which was also sometimes called an “Origination Fee” or a “Platform Fee”). The amount of the establishment fee over this period differed from time to time.

We have agreed with the Commerce Commission that our establishment fees between 26 August 2014 and 25 August 2021 were too high. We are therefore paying eligible borrowers a rebate in respect of such fees.

How are the rebates calculated?

The rebate to be paid to an eligible borrower depends on the amount of the establishment fees that they paid between 26 August 2014 and 25 August 2021.

Will I receive a rebate?

Not all borrowers are eligible for an establishment fee rebate. We will contact all eligible borrowers in due course, but you may also contact us to confirm whether you will be paid a rebate.

Is there anything else I should know?

If you have a loan contract with Harmoney, the terms and conditions of that loan contract are not affected by our payment of any establishment fee rebate, and the loan remains repayable in accordance with its terms.