Annual Percentage Rate or APR is a common method for comparing finance that is lent over a period of 12 months or more but a Payday loan is set of a period of 1 month and therefore can be misleading for comparison purposes.
Can I still apply with bad credit?
Absolutely, we are not basing our decision to lend to you over the long term (12months or more) therefore we are only interested in your present circumstances.
What are your eligibility criteria?
If you are 18 or over, in full time or part time employment earning $350 per week net (after tax) or more, you are likely to be eligible. You will need a bank account that accepts direct debits and we are required to prove your identity.
Is a credit check needed?
No we do not use standard credit reference agencies to score your application; however, as a responsible lender we are required to verify that you are who you say you are and that you are in full time employment and can afford to repay the loan an also That it is your bank account we are putting the money into.
When will I get my loan proceeds?
We will transfer the funds straight away once you are approved; if it’s before 3pm then you will have your funds today. If not, then they will be in your account on the very next working day.
How do I repay my loan?
Very easy – there is no action required on your part, we will take your payment via direct debit on your next payday from the same bank account we made the loan deposit into.
What happens if I can't make my payment on time?
The costs of your cash advance can only increase if you fail to stick to your initial repayment schedule and do not contact us at least two business days prior to your direct debit. If your direct debit is declined by your bank you will be charged a dishonour fee by your bank plus a $35 failed payment fee by us. The $35 fee will also be applied when we have agreed to reschedule your payments for a later date. Your account is then considered overdue and passed onto our repayments team who will make an arrangement with you. If your account continues to remain unresolved, daily fees of $7 can continue to accrue for up to 45 days. If we cannot recover the money over a reasonable period, your account may be passed to an external collections partner and your credit history may be damaged for up to 5 years. If you think you will not have sufficient funds in your bank account to cover your repayment, please contact us immediately to halt the direct debit via live help or call 133 156 within business hours. By advising us ahead of time you can avoid the failed payment fees imposed by your bank. If you have continuous problems with repayments we may reduce the amount available to you on subsequent cash advances or make further cash advances unavailable. We are always careful to lend amounts which will not lead to repayment difficulty or bad credit - but we also ask you not to borrow from us if you think you might struggle to repay for any reason.