Table of Contents
Farmers Finance is a credit service that allows shoppers in New Zealand to spread the cost of purchases made at Farmers stores. It is designed for customers who want to buy items such as furniture, appliances, electronics, or clothing but prefer to pay over time.
Finance Options Intro
Farmers’ offers several credit plans that vary based on the purchase amount and the product category. One common option is an interest-free period, often lasting between 6 and 12 months, available on selected items. For example, a customer purchasing a $2,000 appliance might be eligible for 12 months of interest-free credit, meaning no interest is charged if the balance is paid off within that period. After this interest-free term ends, or if payments are missed, standard interest rates apply. These rates can range around 19.9% per annum, but customers should check the current rate as it may vary.
Beyond interest-free plans, they also offer regular credit terms where interest is charged from the purchase date. Repayment terms, minimum monthly payments, and fees depend on the credit contract signed.
Membership & Rewards
It is important to separate Farmers Finance from the Farmers store membership and rewards programs. While Farmers stores have their own loyalty schemes, such as Farmers Club Card, these do not directly impact the credit terms or benefits of Farmers Finance.
The Farmers Finance account itself does not offer rewards, cashback, or bonus points. Customers should be aware that finance is a payment tool, not a loyalty program. To maximise benefits, customers can use their store membership independently of the finance account for rewards while managing repayments through Farmers Finance separately.
Payment Plans
These brokers allow customers to select from a variety of payment schedules based on their cash flow preferences. Options typically include weekly, fortnightly, or monthly payments. For example, a customer who chooses fortnightly payments may find this easier to align with their wage schedule. Customers must adhere to a minimum repayment amount each month to avoid penalties or interest charges.
Farmers Finance also allows customers to make extra repayments or pay off the balance early without penalty. This flexibility can help reduce interest costs if the finance plan is not interest-free or if the customer wishes to clear their debt ahead of schedule.
In-Store Application
Applying typically takes place directly in Farmers stores. The process requires customers to present valid identification, proof of income such as recent payslips, and proof of residency like a utility bill. These documents help the credit provider verify identity and assess repayment ability.
During application, staff assist customers by filling out forms and explaining credit terms. The credit provider conducts a credit check to assess the applicant’s creditworthiness, which can result in either instant approval or a decision within a few days. Applications may be declined if the credit check raises concerns about repayment capacity.
It is advisable to come prepared with all required documents and to carefully read the credit contract before signing.
Financial Management
Managing a Finance account responsibly involves tracking balances, payments, and upcoming due dates. Customers who set up direct debit payments reduce the risk of missing repayments, as these are automatically deducted from their bank account on the scheduled date. This can be particularly helpful for those managing multiple bills.
For those without direct debit, keeping a calendar reminder for payment due dates is a useful practice. Regularly reviewing statements, either mailed or accessed online if available, provides transparency on purchases, payments made, and any fees or interest applied.
Late or missed payments can increase the total cost of credit and negatively impact credit scores, making timely management critical. Customers should also update their contact details with the credit provider to ensure they receive all correspondence.
Finance Options Intro
Farmers Finance offers several credit plans that vary based on the purchase amount and the product category. One common option is an interest-free period, often lasting between 6 and 12 months, available on selected items. For example, a customer purchasing a $2,000 appliance might be eligible for 12 months of interest-free credit, meaning no interest is charged if the balance is paid off within that period. After this interest-free term ends, or if payments are missed, standard interest rates apply. These rates can range around 19.9% per annum, but customers should check the current rate as it may vary.
Beyond interest-free plans, they also offer regular credit terms where interest is charged from the purchase date. Repayment terms, minimum monthly payments, and fees depend on the credit contract signed.
Membership & Rewards
It is important to separate Farmers Finance from the Farmers store membership and rewards programs. While Farmers stores have their own loyalty schemes, such as their Club Card, these do not directly impact the credit terms or benefits of Farmers Finance.
The Farmers Finance account itself does not offer rewards, cashback, or bonus points. Customers should be aware that finance is a payment tool, not a loyalty program. To maximise benefits, customers can use their store membership independently of the finance account for rewards while managing repayments through Farmers Finance separately.
Payment Plans
Farmers Finance allows customers to select from a variety of payment schedules based on their cash flow preferences. Options typically include weekly, fortnightly, or monthly payments. For example, a customer who chooses fortnightly payments may find this easier to align with their wage schedule. Customers must adhere to a minimum repayment amount each month to avoid penalties or interest charges.
Farmers Finance also allows customers to make extra repayments or pay off the balance early without penalty. This flexibility can help reduce interest costs if the finance plan is not interest-free or if the customer wishes to clear their debt ahead of schedule.
In-Store Application
Applying typically takes place directly in stores. The process requires customers to present valid identification, proof of income such as recent payslips, and proof of residency like a utility bill. These documents help the credit provider verify identity and assess repayment ability.
During application, staff assist customers by filling out forms and explaining credit terms. The credit provider conducts a credit check to assess the applicant’s creditworthiness, which can result in either instant approval or a decision within a few days. Applications may be declined if the credit check raises concerns about repayment capacity.
It is advisable to come prepared with all required documents and to carefully read the credit contract before signing.
Financial Management
Managing a Farmers Finance account responsibly involves tracking balances, payments, and upcoming due dates. Customers who set up direct debit payments reduce the risk of missing repayments, as these are automatically deducted from their bank account on the scheduled date. This can be particularly helpful for those managing multiple bills.
For those without direct debit, keeping a calendar reminder for payment due dates is a useful practice. Regularly reviewing statements, either mailed or accessed online if available, provides transparency on purchases, payments made, and any fees or interest applied.
Late or missed payments can increase the total cost of credit and negatively impact credit scores, making timely management critical. Customers should also update their contact details with the credit provider to ensure they receive all correspondence.
Comparing Farmers Finance Card vs. Farmers Mastercard (2026)
In 2026, many New Zealanders are confused about the difference between the legacy Farmers Finance Card and the more versatile Farmers Mastercard. While both are managed by Retail Financial Services Limited (a subsidiary of FlexiCards), they serve different spending habits.
| Feature | Farmers Finance Card | Farmers Mastercard |
| Acceptance | Thousands of stores NZ-wide (Fixed Network) | Millions of stores (Everywhere Mastercard is accepted) |
| Annual Fee | $0 | $50 (paid in two $25 installments) |
| Rewards Program | yourrewards (Points based) | Farmers Club Points |
| Interest Rate | 28.50% p.a. | 28.50% p.a. |
| Interest-Free Term | Up to 55 Days | Up to 55 Days |
| Apple Pay / Google Pay | No | Yes |
The “Double-Dip” Reward Strategy
The primary advantage of using a Farmers Mastercard within a Farmers department store is the ability to “double-dip” on rewards. By swiping your physical Farmers Club Card (or scanning the app) and then paying with your Farmers Mastercard, you earn points in two separate streams:
- Farmers Club Card Points: Earned at the standard category rate (e.g., points for Beauty or Home).
- Mastercard Points: You collect 1 Farmers Club Point for every $10 spent on the card.Once you reach 250 points, you receive a $20 Farmers Club Voucher automatically. Note that points for Beauty/Fashion categories typically expire within 6 months, while Home/Stevens points last for 12 months.
Long-Term Finance (LTF) and Payment Holidays
For major household purchases like whiteware, furniture, or high-end electronics, Farmers Finance offers “Long-Term Finance” deals. These often include 90 days no payments and no interest during seasonal promotions (like Waitangi or Boxing Day sales).
- Establishment Fee: A one-off fee of $55 applies to your first LTF transaction.
- Advance Fee: For any subsequent LTF purchases, a smaller $35 fee is charged.
- Payment Holidays: Be cautious; while you don’t make payments during the holiday, the 28.50% interest rate applies immediately once the holiday period expires if the balance isn’t cleared.
Payment Methods and Account Management
Farmers Finance provides several ways to settle your monthly statement, though some incur extra costs.
- Direct Debit (Preferred): The most cost-effective method. You can choose to pay the Minimum Payment, a Fixed Amount, or the full Closing Balance to stay interest-free.
- In-Store Payments: You can pay over the counter at any Farmers store. You must bring your statement or account number so the staff can scan it and allocate the funds correctly.
- Paper Statements: If you opt for physical mail rather than the mobile app, you will be charged a $0.94 fee per statement.
- App Access: The Farmers Mastercard mobile app allows for real-time balance checks, transaction history for the last 3 months, and biometric login for security.
FAQs
What is Farmers Finance?
It is a consumer credit facility linked to Farmers stores, allowing customers to pay for purchases over time. It functions as a store-branded credit account with various payment options, including interest-free periods and standard credit plans.
How do I apply for finance?
Applications are completed in-store, where customers provide identification, proof of income, and residency verification. After submitting these documents and the application form, the credit provider performs a credit check. Approval may be immediate or communicated within a few days.
Can I manage my Farmers Finance account online?
Online account management depends on the credit provider behind Farmers Finance. Some customers can access an online portal to view account details, make payments, and update personal information. If online access is not offered, customers manage their accounts by phone or mail through customer service.
What is a Farmers Finance Card?
A Farmers Finance Card is a store credit card that lets customers make purchases at Farmers stores and selected partner retailers. Instead of paying the full price upfront, customers can spread repayments weekly, fortnightly, or monthly, depending on the plan offered at the time of purchase. Cardholders may also receive exclusive discounts and special shopping offers.
Where can Farmers Finance Card be used?
The Farmers Finance Card can be used at Farmers stores, farmers.co.nz, and a wide network of partner retailers across New Zealand. These include electronics stores, furniture shops, appliance retailers, and more. Partner lists are available on the official Farmers Finance Card website and may change as new partners are added.
Where is Farmers Finance Card accepted?
It is accepted at Farmers department stores, the Farmers online website, and at approved partner stores nationwide. It cannot be used like a traditional Visa or EFTPOS card and is limited to participating retailers only.
Can I use my Card online?
Yes. You can use your Farmers Finance Card for online purchases at farmers.co.nz. Simply select the card as your payment method during checkout and log in using your card number and verified customer details.
Who accepts the Farmers Finance Card?
Many partner retailers in New Zealand accept the card, including furniture, electronics, bedding, appliances, and homeware stores. To confirm the most up-to-date partner list, refer to the Farmers Finance Card partner directory online.
How does a Farmers Finance Card work?
The card works similarly to a store credit account. When you use it to make a purchase, the cost is added to your account balance. You then repay the balance over time according to your repayment schedule. Some purchases may qualify for interest-free periods, while standard purchases may accrue interest if not paid in full by the due date.
How do Farmers finance equipment?
Farmers customers can finance larger purchases through the Farmers Finance Card or Finance Now’s longer-term loan options. These plans allow customers to buy big-ticket items and repay the cost over flexible instalment periods.
How to get a Farmers Finance Card?
You can apply online or in-store. You will need to provide personal ID, income information, and undergo a standard credit check. Approval depends on your ability to meet repayment obligations and your credit history.
How to cancel a Farmers Finance Card?
To cancel the card, you must pay any remaining balance in full. Once the balance is settled, contact Farmers Finance Card customer support by phone or email to request account closure. It’s recommended to receive written closure confirmation.
How to pay a Farmers Finance Card?
Payments can be made via:
- Internet banking transfer
- Direct debit setup
- In-store payments at participating locations
- Automatic recurring payments
Your statement or online account will show payment details and reference numbers required.
Who does Farmers Furniture finance with?
Farmers Finance Card accounts are managed by Finance Now Limited, a registered New Zealand lender under SBS Bank. This ensures the service operates under local consumer finance laws.
What is the difference between Farmers Finance and Farmers Mastercard?
The Finance Card is a store card accepted at a specific network of NZ retailers (like petrol stations and pharmacies), while the Mastercard works everywhere globally and supports contactless payments and digital wallets.
Is there an annual fee for the Farmers Finance Card?
No, the Farmers Finance Card has no annual account fee. However, the Farmers Mastercard has a $50 annual fee, charged as $25 every six months.
How do I redeem my “yourrewards” points?
For the Farmers Finance Card, you earn 1 point for every $1 spent. For every 2,500 points, you can redeem a $20 Farmers Gift Card through the “My Account” portal online.
Can I use my Farmers Finance Card at petrol stations?
Yes, the card is accepted at many major NZ petrol stations, including BP and G.A.S., allowing you to earn rewards points on fuel and grocery top-ups.
What happens if I lose my Farmers Finance Card?
You should report it immediately via the customer service line. A $10 replacement fee applies for the re-issue of a physical card.
Can I have an additional cardholder on my account?
Yes, you can add up to four additional cardholders for free. This is a popular way for families to accumulate reward points faster toward a single voucher.
What is the “yourrewards” membership fee?
While the card has no annual fee, if you are part of the “yourrewards” program, a six-monthly membership fee of $15 applies to maintain the points-earning feature.
Does Farmers Finance offer financial hardship support?
Yes. If you are struggling with repayments, you can contact their team to discuss a “Restructure.” A $15 or $16.50 variation fee may apply to change your repayment terms following a default.
What is the minimum spend for interest-free promotions?
For many “90 days no interest” promotions, a minimum spend of $50 is required on the Farmers Finance Card, whereas the Farmers Mastercard often has no minimum for standard interest-free periods.
Can I pay my Farmers statement via Internet Banking?
Yes, you can set up a bill payment to “Farmers Finance” or “Retail Financial Services.” Use your 8 or 12-digit account number as the reference to ensure the payment is credited to your specific account.
