Terms & Conditions

1. Who We Are

Bluefin is a registered credit provider operating under the National Credit Act 34 of 2005 (NCA). Our NCR registration number is NCRCP XXXX. We are authorised to provide short-term credit agreements, also referred to as salary advances, to qualifying consumers.

2. Eligibility

• You must be a South African citizen or permanent resident.
• You must be 18 years of age or older.
• You must hold a valid South African ID document.
• You must receive a regular salary or income paid into a South African bank account.
• You must have an active bank account that supports DebiCheck debit orders.
• You must not be under debt review, administration, or sequestration.

3. The Credit Agreement

Each salary advance constitutes a short-term credit agreement as defined in the NCA. Before entering into the agreement, we will provide you with a Pre-Agreement Statement and Quotation setting out all costs. You have the right to refuse the quotation without any obligation.

A binding credit agreement only comes into existence once both parties have signed the agreement. Your electronic or digital signature on the contract constitutes a valid signature.

4. Cost of Credit

The total cost of credit consists of:

• Initiation fee: Calculated per the NCA Schedule 3. R165 plus 10% of the amount exceeding R1,000, capped at R1,050 (excl. VAT where applicable).
• Service fee: Up to R60 per month, pro-rated for the actual loan term.
• Interest: 5% per month for first-time clients; 3% per month for returning clients. Calculated on the outstanding principal plus initiation fee.
• Credit life insurance: Compulsory. Premium disclosed in your Pre-Agreement Statement.

5. Repayment

Repayment of the full outstanding balance is due on your payday as specified in the credit agreement. Repayment is collected via a DebiCheck authenticated debit order. You are required to authenticate the DebiCheck mandate via your bank before any debit may be processed.

6. Late Payment

A late payment fee of R150 will be charged for each missed or returned debit order. Persistent non-payment may result in the matter being handed to our collections department and reported to credit bureaus as permitted by the NCA.

7. Early Settlement

You may settle the outstanding balance at any time without penalty. Contact us at info@gobluefin.co.za to obtain a settlement figure.

8. Cooling-Off Period

In terms of section 121 of the NCA, you have 5 business days from the date the agreement is concluded to cancel the agreement without penalty, provided that you return the full amount advanced.

9. Consumer Rights

Under the NCA, you have the right to:

• Receive a Pre-Agreement Statement before signing.
• Apply for debt review if over-indebted.
• Lodge a complaint with the National Credit Regulator (NCR) at 0860 627 627.
• Approach the National Consumer Tribunal (NCT) regarding any disputes.

10. Governing Law

These terms are governed by the laws of the Republic of South Africa. Any disputes shall be subject to the jurisdiction of the South African courts.