Nimble pulls ad over concerns it exploited people in financial hardship
Nimble Money has pulled an ad where a man admits he has forgotten to pay the gas bill after it was criticised for exploiting people in financial hardship.
The campaign, created by McCann Melbourne, used a man dressed in a rabbit suit to promote its short term loans and aimed to showcase how Nimble loans can solve common money problems such as a large phone-bill or an overdue gas bill.
A statement from Nimble CEO Sami Malia issued to Mumbrella said the ads were not intended to be taken literally and is in line with all relevant codes and regulation.
thats just a bit silly really isn’t it.
if this ad really exploits people in financial hardship, then the Jeep one where the kid throws the ball over the garden fence, exploits his family who dont holiday, and the Lidl ones exploits parent of babies who shit themselves in public and the spec savers ones exploit people with bad eyesight…and so on and so on.
Agree with you “hmm” this is a touch extreme….!
the exploitation occurs in the ‘service short term lenders provide ” rather than their ads i reckon.
I’m confused. As Matt and indeed their CEO note, the whole business premise of Nimble is to take advantage of / exploit / offer a service to, those in financial hardship.
A chat on the nimble live help:
You’re now chatting with Wayne_K.
Wayne_K
Hi there, welcome to Nimble. How can I help?
You
i have a electricity bill due in a couple days. Is nimble a good option to pay it?
Wayne_K
Thanks for getting in touch today. I can help you out here.
An electricity bill sure can be an expensive surprise. We can offer a loan for that purpose however it’s completely your decision.
You
yes, I understand. what would you advise?
Wayne_K
If you’re wanting to take out a Nimble loan, you can visit our website and begin the process. It’s super easy and only takes about 5 – 10 minutes.
You
so do you think nimble is the best option to pay my bill?
Wayne_K
I wouldn’t really be able to say what the best option is to pay your bill as the decision is completely yours. I can however explain how our Nimble loans work and then you can decide if that would be beneficial. Is there anything you would like to know specifically about the product?
You
well the bill is about $300
Wayne_K
No worries, we offer loans from $100 to $1200 so that would cover the amount you require.
You
and due on the 15/1/2015
Wayne_K
If you’re approved today you may be able to get the money right away or tomorrow at the latest.
You
i’ve never been unable to pay my electrcity on time before, but i dont get paid in time
Wayne_K
I completely understand, well the option is always here for a short term loan.
You
what would it cost
Wayne_K
I can answer that for you. If you were to borrow $300 and you’re paid weekly, you would pay 3 weekly payments of $124.
You
can the payments be less?
Wayne_K
Those amounts are just a guide but would more than likely be what our Decision Engine offers. Because we are a short term lender the payment do need to be paid back relatively quickly. So the amounts unfortunately can not be less.
You
so is the max term only 3 weeks?
Wayne_K
That’s right. It is usually 3 weekly payments or 2 fortnightly payments. Depending on your own individual pay cycle.
You
Would you use nimble to pay your electricity bill if you didn’t have the money?
Wayne_K
That is something that is entirely individual. If I thought it was my best option and I know I could afford the repayments it would be something I would consider.
Is there anything else I can help you with today?
You
even though “The Consumer Action Law centre said the ad is irresponsible because it suggests consumers use a payday loan, when all utility companies offer financial hardship repayment schemes” quoted from http://www.abc.net.au/news/201.....ds/6011350 In light of the info, do you have anything to say for yourself?
Wayne_K
As I mentioned it is a completely individual decision for each applicant to make. We are very clear about the costs and time frames involved with our product before anyone takes out a Nimble loan. And I know we have helped out thousands of people so far.
Do you have anything else I can help you with today?
You
explain how a $300 loan costing $372 is helping someone in finacial difficulty when they can get a payment plan from the electricity provider without the aditional costs?
does this company or you personaly have no morals?
Wayne_K
Different products suit different people and different situations. Everything is completely individual and up to each applicant.
If you would like to discuss this further we can give you a call if you like?
Thanks for getting in touch today. If there’s anything else you need just give us a call on 133 156, log back into your Member Area, or jump on Live Help again and we’ll be happy to help.
At this point I got cut off while still typing (note the interface shows when they are typing)
I guess if truth in advertising applied, they’d have to have men in shark suits? Far too much exploitation of the disadvantaged and financially ignorant, which is their core business.
The guys behind Nimble have been appearing in the press a fair bit lately. Their BRW profile in December is worth a read. I find it sad that a business like this is being positioned as innovative. It’s the equivalent of selling a wind powered electric chair.
Sam De Brito said it best last week –
http://www.theage.com.au/comme.....2f4hr.html
The whole business concept of Nimble is an exploitative one.
While Im sure the owners and staff will all burn in hell, the ad itself is not misleading.
Bottom line: If you need to use Nimble, the ad isn’t going to be the catalyst that gets you over the line..
Isn’t this the entire founding principle behind money lending?
Exploiting people.
John Oliver covered it (based on US examples)
https://www.youtube.com/watch?v=PDylgzybWAw
all I can say is I hate the product…
But love the ad it hits the target demo in a relatable language, without exposing any of the nastiness of a interest rate of 24% per week (in a morale vacuum I love it not in real life)