Frequently Asked Questions

Am I eligible for an Art Money loan?

To be eligible to apply for an Art Money loan, you will need to:

Be an individual applying in your own name
Be a New Zealand citizen or resident, 18 years or over
Have an income of at least $30,000 p.a. from all sources, including investments
Hold a current NZ passport, driver’s licence or other approved Photo ID.
Have a clear credit history (no dishonours, defaults, court judgements or bankruptcies within the last 5 years and not be an undischarged bankrupt)
Have a nominated account or credit card that we are able to debit

Art Money is not available at this time for companies, partnerships, trusts, institutions or superannuation funds.

How much can I borrow?

Art Money provides interest free loans from $675 to $50,000.

Art Money is a responsible lender so exactly how much you are able to borrow will depend on a number of factors that we assess including your income, credit history and your ability to repay the loan. The maximum amount anyone can borrow from Art Money at any one time is $50,000. This may be spread across more than one loan.

What is the term of the loan and how many payments will I need to make?

Payment is spread over 10 monthly instalments. Your first payment is the deposit paid directly to the gallery.

Your Art Money loan covers the remaining balance of 9 equal payments over 9 months, interest free. Your first loan repayment to Art Money will be debited one month after purchase.

For example with an Art Money loan, an artwork that costs $5,000 is only $500 per month over 10 payments (the first payment is the deposit).

How do I apply and how long will the application process take?

Applications are made online and only take a few minutes. You can apply for Art Money credit at any time so you are ready to go when you find a work you love. Or apply for an Art Money loan on the spot, at the gallery or Art Fair, when you find a work you would like to purchase.

What can I buy?

You can buy any artwork available for sale from participating art galleries. There are no restrictions on the kind of artwork you can buy.

Where is Art Money available?

Art Money is currently offered in participating galleries in New Zealand, Australia and internationally. Visit the Find a Gallery page and sign up to the e-news for updates – new galleries are partnering with us daily.

Can I use Art Money to buy more than one work?

Yes, you can use Art Money to buy multiple artworks as long as you do not exceed your approved credit limit.

Can I increase my loan if I find a higher priced artwork?

You can apply to increase the loan amount at any time via your Art Money account dashboard. We will need to reassess your application. In most cases this only takes a few seconds.

What if I can’t come to the gallery in person?

If you would like to use Art Money but are unable to visit the gallery in person please contact us to discuss how we can facilitate the sale.

What happens if my loan application is referred?

An application may be referred for a number of reasons, including being unable to identify you or verify your personal details. If your application is referred we will contact you with more information.

Are there any setup charges or ongoing fees?

There are no setup charges to use Art Money.

If you choose to repay your loan by direct debit straight from your bank account, no monthly transaction fees will apply.

If you choose to use your credit card to repay your loan, a 2% credit card processing fee applies. Art Money accepts Visa and Mastercard.

Note: Should you default or miss a repayment, a $20 dishonour fee will apply. You may also be required to pay default interest on the unpaid amount of any overdue repayment. Fees and charges are detailed in the credit contract that is made available in the loan offer.

Do I own the work whilst I pay it off?

Yes, once your loan has been approved and you pay your deposit you own the work. As part of the credit agreement Art Money may hold a Personal Property Security over the artwork until it has been fully paid off.

Can I use Art Money to buy a work that costs more than $50,000?

Yes, as long as the amount of the loan is no more than $50,000. For example an artwork that costs $55,000 could be paid for with a $10,000 deposit and an approved Art Money loan for the balance of $45,000 ($5,000 x 9 payments).

Where can I view my loan details?

You can review your loan details, check your outstanding balance and view upcoming payments at any time by logging into your Art Money account and navigating to ‘Current Loans’ on your user dashboard.

How do I change my loan payment method?

If you would like to change your payment method, please contact us at or on 0800 004 682.

Can I pay my account off early?

Yes, you can pay the outstanding balance of your account at any time and there is no penalty for doing so. To do this simply contact Art Money via or call us on 0800 004 682.

Do I need to insure the artwork?

Yes, you will need to keep the artwork insured as part of the Terms and Conditions of the loan. Most household insurance policies will be adequate.

Can I buy a work in a foreign currency?

Yes, Art Money allows for purchases in different currencies. Your loan will be converted to your local currency calculated at the exchange rate at the time you accept the loan contract.

Can framing, shipping, installation etc be included in the artwork price?

Yes, assuming the gallery is happy to include those additional services in the final sale price. As the gallery is making the sale to you, it is between you and the gallery as to how you arrive at the final price.

What happens if I have a problem making a repayment?

Please contact Art Money immediately to discuss your circumstances via or on 0800 004 682.

Why does the gallery need to take a copy of my photo ID?

Art Money has an obligation to identify its customers accurately under New Zealand anti-money laundering and counter-terrorism finance laws, which is why galleries are required to take a copy of your photo-ID.

What if I have a complaint about my Art Money loan?

Art Money has both internal and external dispute resolution schemes that are intended to deal with any customer complaint concerning our loan product.

If you are a customer and have a complaint then you should first contact us at the following:


Telephone: 0800 004 682

If we are unable to resolve your complaint you may contact this independent dispute resolution service:

Financial Services Complaints Limited
Level 4, 101 Lambton Quay
Wellington 6011

PO Box 5967
Wellington 6145
0800 347 257

Who pays if the loan is interest free?

Art Money partners with galleries to make your loan interest free. The gallery pays Art Money an amount equivalent to the interest charge that would otherwise be payable on your loan. This enables Art Money to provide the loan to you, interest free.

Who is behind Art Money?

Art Money is delivered by 10 Group in New Zealand and Australia and for the first year was supported by the City of Sydney as part of their Cultural Policy and Action Plan.

To find out more visit