1. What documentation do I need to provide for a loan application?

100 Points of ID

Drivers Licence, 18+ card, Passport, Medicare card, Pension card, ATM card, Birth certificate (must be one photo ID)

Proof of Income

Self Employed: Current Financials such as Profit & Loss, Balance Sheet or tax return Working: Payslips or letter from employer
Centrelink recipients: Current Income Statement

Bank Statements

Bank Statements showing current address, BSB, Account No & Name showing transactions for the previous 90 days up until the date of application.

Proof of Residence

Home Owner: Copy of rates notice or mortgage statement, PLUS either a phone, power, gas or other bill (must be in applicant's name).
Renting: Copy of lease, rent receipt or rental statement. PLUS a phone, power, gas or other bill (must be in applicant's name)
Boarding: A letter from the current owner or leaseholder PLUS a Rates notice, lease, rent receipt, rental statement, phone, power, gas or other bill (in the leaseholder / owners name)
Centrelink recipients: Address Summary Statement’s best if you gather these things up before you apply so we can assess your application fully either in store or If you'd prefer to send in documents yourself, you can fax them to 07 3202 1886 or scan them and email to info@paydaymoney.com.au to complete your online application.

2. I'm a discharged bankrupt, and have a poor credit history due to this, can I still get a loan with PaydayMoney.com.au?

Subject to our lending criteria you may still be eligible for a loan. We have flexible lending guidelines to help customers whilst being responsible lenders so we do not put you into financial difficulty. We provide loans to a wide range of customers who are subject to previous defaults, Ex-bankrupt, Self-employed, Working/PAYG or on Centrelink Benefits.

3. What's the minimum and maximum amount you'll lend?

There is a minimum of $100 up to $4600 or more if required.

4. Can we pay the loan back early?

Yes, a loan can be repaid early at any time, and there are no break costs that apply. We do not add fee’s or charges for paying out the loan early, in fact in many cases you will save money by paying out early.

5. What happens if I can’t make or miss a payment?

Your loan fees and/or loan term may increase: If you do not meet your obligations under the loan contract the fees and / or term of your loan may increase. If you are having a repayment difficulty, please call us to discuss your options.

If your scheduled direct debit payment is dishonored by your bank, you may be charged a dishonour fee by your bank and PaydayMoney.com.au. Our fee is currently $22, this can be avoided if you call us and reschedule your payments for a later date. Note this must be done the day before your Direct Debit is to run.

If you miss a repayment without an alternative arrangement in place your account will fall overdue so staff will try to contact you via telephone, email, letter or SMS to make an alternative payment arrangement with you. Note if the rescheduling extends your loan into the following month, you'll be charged an additional 4% monthly loan fee.

If your account is not brought up to date, or we are unable to contact you further collections work may be outsourced to a licenced debt collection agency, the fees for this service will be added to your account. Note if the total amount owed reaches 200% of the principal amount borrowed your account is capped.

If we are unable to collect over 60 days you may incur a default on your credit file meaning your credit history may be marked for up to 5 years, making it very difficult to obtain any further credit.

Responsible Lending is embedded into our culture at PaydayMoney.com.au. We will not lend amounts which we believe may lead to repayment difficulties, hardship or bad credit. You should not attempt to borrow from us if you think you will find it difficult to meet the repayment obligations under the loan contract. If you believe that you are experiencing financial hardship and may not be able to meet your payments, please contact us as soon as possible.

6. How long does it take to get a loan with PaydayMoney.com.au?

Once PaydayMoney.com receives your completed application form and all the required supporting documentation, an assessment will be done on your application. You will receive a response on your application usually within 2 to 3 hours in business hours or the next morning if completed after hours.

7. How much can I borrow & how long does it take to pay back?

The loan amount and term will depend on your needs and the information provided to us such as income. Your loan application will be assessed by PaydayMoney.com.au and if approved we will work with you on the most appropriate loan term to suit your budget. Generally loans up to $2000 can be done for a maximum of 12 months, although the average term for these loans is usually 6 to 8 weeks. Loans from $2001 to $4600 are available for a maximum of 2 years. Business loan amounts and terms are set by negotiation.

8. How much does it cost?

Short Term Credit Contracts: ($100-$2000) cost 20% of the principal (Application Fee), plus 4% of the principal per month.
Medium Amount Credit Contracts: ($2001 to $4600) cost $400 (Application Fee) plus 4% of the balance per month.
Cheque Cashing: rates start from 8.5% of the cheque amount, and are reduce for larger amounts by negotiation.
Business Loans: cost 20% of the principal (Application Fee), plus 4% of the balance per month.

To get an idea of how much your loan will cost check our loan calculator.
See our statement of fees for full costs.

9. How do I pay my loan repayments?

Repayments can be made by Direct Debit, Cash, Cheque or direct credit from your bank account. Payments can also be made at any Commonwealth Bank branch directly into our bank account. Your nominated bank account will be direct debited on the due date if repayment is not received prior to that time, unless an alternative repayment option is arranged.

10. How do I update by bank account or other personal details?

It is a condition of your loan that we have your up to date address, contact and bank account details. Contact the branch where your account is kept and provide the new details over the phone, or come in for a chat and let staff know the new details.

11. Where is my closest Payday Money centre?

PaydayMoney.com.au currently operates 4 branch centres, in Queensland and New South Wales. Click here to locate your nearest centre.

12. What Loan Products & other services does Payday Money provide?

PaydayMoney.com.au products and services include:
•    Small Amount Credit Contracts (SACC’s) $100 - $2000 (16 days to 12 months)
•    Medium Amount Credit Contracts (MACC’s) $2005 - $4600 (16 days to 24 months)
•    Appliance & home furnishing loans
•    On the spot cheque cashing
•    Business loans to $50,000
•    Settlement loans for access to cash prior to receiving your pending Court, Legal, Insurance or property settlements.
•    Personal Loans
•    Car Loans

13. Is Payday Money a responsible lender?

PaydayMoney.com.au does not want to put borrowers into any hardship, and we make every effort to lend amounts that you can afford to repay. We make all reasonable enquiries into an applicant’s financial situation to verify the loan is affordable and meets your objectives.

We will not offer you a loan where it is unsuitable and / or unaffordable without hardship.

Fees are capped at 200% of the principal amount lent under responsible lending obligations set down by the Federal Government. PaydayMoney.com.au complies with all fee and interest rate caps as set under regulations by the Federal Government.

Get Cash Loans Pty Ltd trading as PaydayMoney.com.au holds an Australian Credit Licence (ACL #427979). Consumer credit activity is regulated under the ACL, and we must comply with regulations as set out in the National Consumer Credit Protection Act 2009, including responsible lending obligations.

When we do offer you a loan all the fees will be disclosed, and you will be asked to confirm that you can afford the loan, and understand your obligations under the contract.

14. Why should I choose PaydayMoney.com.au for my finance needs?

PaydayMoney.com.au do not have a range of excessive fees like some lenders, we limit our fees to those that are regulated by Government.

We offer a personalized service where you can talk to real people and transact at one of our stores if you prefer it to the online experience.
For those that are not close to a store or prefer to transact online, then this option is also available.

We aim to make the application experience as efficient as possible whilst still maintaining the personal touch.

15. Does PaydayMoney.com.au do credit history checks?

At PaydayMoney.com.au we use credit history checks as part of our due diligence trying to ensure that you are not in current financial difficulty. A credit history check will tell us if you are bankrupt, or under a part 1X debt agreement. If either of these things is current we will not lend to you.

The credit history report also lists defaults with other credit providers. These defaults alone may not disqualify you from obtaining a loan from us, so if you have had a problem of this nature in the past you are encouraged to still apply here.

16. What do I do if I have a complaint?

At PaydayMoney.com.au we take customer complaints seriously. For a full explanation of the complaints process go to our complaints page here.

We encourage you to contact us either in person, by phone, Email or fax to tell us about your complaint. We use the information obtained to improve our service and offering to all customers. We will try our very best to satisfy your concerns ourselves internally. If for some reason you still have issues, we are also a member of an external dispute resolution service the Financial Ombudsman Service (FOS). This ensures that complaints always get a fair hearing.

17. I’m in financial hardship, what can I do?

At PaydayMoney, we know anyone can occasionally run into financial hardship for many reasons. If you think you will fall behind on your loan commitments please contact us immediately, as we can often find ways to assist.

If your current financial circumstances limit your ability to meet your regular scheduled repayments to PaydayMoney.com.au we will work with you to come to a suitable arrangement for your individual circumstances.

Please call your branch or email us at hardship@paydaymoney.com.au
If you need to apply for Financial Hardship Assistance contact us for the application form. We will also require supporting documents, these will vary depending on your circumstances, however we may need to see the following:
•    Separation certificate (if you lost your employment)
•    Bank statements
•    Centrelink statements
•    A budget, as this will help see where the issues are
•    Proof of current bills such as phone, power, gas etc

Please contact us in the first instance and we will advise which documents we need with your request before to submitting your application form for Financial Hardship.

Once we receive your application, you'll get a response from us within 2 business days.
We can allow you up to 21 days to provide necessary documents to support your request.

If we find your current circumstances don't meet our criteria for Financial Hardship you can ask us to reconsider and you may want to include evidence for us to consider.

We'll let you know the outcome of your request within 21 days.
If you're turned down you can still go through our internal dispute team resolution process. If you're still unhappy with our response and want to escalate further, you can then make a complaint by contacting The Financial Ombudsmans Service on 1300 78 08 08 or visiting http://www.fos.org.au to make a complaint. External Dispute Resolution is a free service set up by PaydayMoney.com.au to provide customers with an independent umpire to assist in resolving complaints.

You may also benefit from legal advice, there are Community legal centres, Legal Aid, financial counselors and /or private lawyers that may be able to assist you.

18. I have a loan with Payday that’s partly paid, can I apply to borrow more?

Yes, you are welcome to apply for further credit at any time. There are restrictions set down by Government regulation on this, which we strictly adhere to. However you may be able to afford a second loan for example.

19. Once I pay out my existing loan, when can I get another one?

Once your loan is paid out, you can apply for another loan immediately. Note that if you are paying by Direct Debit, it takes up to 3 business days for the bank to confirm your final repayment has cleared. If you think you will need another loan quickly, it may be better to payout the loan with a cash deposit either at the branch or directly into our bank account. Once we have the existing loan paid out in full we can take your request, which is of course subject to our usual suitability checks and eligibility criteria. If approved, you'll get cash at the branch or if remote we will put the funds into your account the same day.

20. Are there any renewal fees?

Only normal government reulated fees and charges apply, there are no renewal or early payment fees. For an explaination of our fees contact us.

21. What happens after my application is approved?

Once approved, we will provide you with an offer document, which you will need to read and sign either in store or sent remotely by fax or Email.

You will then be given cash in the store or we will transfer the funds directly into your account usually with the hour.

Some bank transfers will be available within minutes, others may take longer depending on your bank.

22. How do I apply and how does it work?

You can fill out an application online here, or you can come into one of our branches and apply in person. You will need to provide us with evidence of your identity, income and address plus 90 days of bank statements for a loan assessment. Once approved we will provide either a cash loan at your nearest branch, or will transfer the money directly to your account.