FAQ's
What is a payday cash advance?
A payday cash advance is a loan for a small amount ($100 - $1500), usually loaned until your next payday.
The cost of a $100 cash advance is typically about half the cost of a bank dishonour fee, less than paying late fee's for your rent, and certainly more convenient and private than having to visit a bank.
What are the criteria to get a payday cash advance?
Payday Cash Loan is a loan intermediary with responsible lending partners who have varied eligibility criteria to ensure we offer the right loans to our customers. If we feel that you might have problems staying on top of your debt, we may reduce the amount available to you, or your application may be unsuccessful.
How do I apply?
- Complete the 3-4 minute online application form. Our cash advance lenders will review it in a few seconds and the lender best suited to your application will display your repayment schedule and fees. Check that these suit you. If it's all good, confirm your loan by ticking the box at the bottom of the page.
- Our cash advance lenders provide you with options for how they can verify your details. You can choose to either have them call your payroll, to avoid digging up any paperwork, or you can choose to send in supporting documents, if you would rather no one call your payroll. If you opt for a call to your payroll office, it helps to speed up the lending process if you tell your payroll to expect a call from a payday cash lender to check some identification details.
- Your payday cash lender will then confirm your details with either your payroll officer or with the documents you provided, depending on which option you selected.
- You get paid within 60 minutes with some of our cash advance lenders, if you sign your contract with them before 3pm on business days. Our other cash advance lenders deposit your cash advance directly into your bank account the following day, if approved by 6pm AEST Monday – Friday.
What happens after I apply?
After you complete your application and wait a couple of seconds for our cash advance lenders to review it, you'll be taken to the cash advance lender's website you have been matched with and receive your preliminary loan contract. This happens just seconds after you submit your application (by receiving your contract straight away, not only do we not waste your time going back and forth with emails, it also means you'll get your money faster).
In your contract you'll find out EVERYTHING you need to know. Check your repayment schedule and fees suit you. When you're happy with it all, confirm your loan.
How much can I borrow?
Our cash advance lenders loan from between $100 and $1500, depending on which lender you are matched with, if you are a first time client, how frequently you are paid and your income and expenses.
Our payday cash lenders are always careful to lend amounts which will not lead to repayment difficulty or bad credit.
What are the fees involved with a Payday Cash Loan cash advance?
Presently, one of our preferred online lenders (cashdoctors.com.au) offers first-time cash advances for just 1c. For example you borrow $200. You only repay $200.01. This is an excellent risk-free way of enjoying the ease and convenience of a payday cash loan. If you have not had a loan with Cash Doctors in the past, you will be entitled to this first-time 1c offer.
With Cash Doctors each time you borrow, a $45 fee applies. Then $30 a week for each week you have the cash advance. Payday loans must be repaid within 45 days. The average loan is $400 for 21 days – a cost of just $135.00.
Other lenders we work with have different fee structures. All of our selected lenders display their fees clearly before you commit to your cash advance.
How do I get the money and how soon?
New Clients - Some of our cash advance lenders can transfer the instant payday loan straight into your preferred bank account within 60 minutes, if you sign your contract with them before 3pm on business days and are with one of the major banks.
Our other cash advance lenders deposit your cash advance directly into your bank account the following day, if approved by 6pm AEST Monday – Friday.
Returning Clients - After your first cash advance, the application takes even less time and some of our cash advance lenders can pay you instantly, anytime you need it.
Can you pay into all banks within 60 minutes?
If your loan is matched to one of our cash advance lenders that can pay within 60 minutes, you must bank with ANZ, NAB, CBA, Westpac, St. George, Bank of QLD, Bendigo Bank, Adelaide Bank, Woolworths, Colonial, Heritage, HSBC, Bank of NZ, QLD Teachers Credit Union, Bank of SA, Suncorp, and Westpac.
If it is your first cash advance and you bank with another financial institution, or you are matched to a different cash advance lender, your funds will be available within 24 hours.
Can I still get a cash advance if I have a bad credit history?
Payday Cash Loan lenders usually approve cash advances for applicants with defaults on their credit history. After all, some people use Payday Cash Loan as an additional source of credit because traditional lenders will not approve applicants with any defaults.
While Payday Cash Loan's lender's lending policy is quite liberal with respect to credit history, there are cases when cash advance applications are denied. For example, if you are bankrupt, in a part nine debt agreement or have an extremely bad credit history, your application will be denied.
Which documents do I need to apply for a payday cash advance?
None. The application is paperless, unless you choose the verification option to send in documents. Each of our cash advance lenders require slightly different documentation and let you know what they need when they give you the option to either send in documents or have them call your payroll office.
How does the payday advance process work?
With your member log-in you can see whether your payday cash lender has contacted your payroll, you've been approved, and whether you've been paid, as well as any details you may need to know about your repayments. Some of our cash advance lenders send you SMS messages and emails to guide you through the application process, alert you of approval, and let you know when your funds are transferred. This helps you to track the progress of your application and get paid faster.
We know time is of the essence. The best way to ensure your application is processed quickly is to read the requirements and contact your payroll officer to authorize your payday cash lender to contact them, if you select the payroll office call verification option.
Why do I need to contact my payroll?
Instead of asking for your payslips, our cash advance lenders do all the hard work for you by checking your application details with your payroll officer. This makes things much faster and easier as there's no mucking about with faxes. However, most companies won't give out an employee's details without their verbal or written consent. This means that you need to contact your payroll so they know they've got permission to share your details with our payday cash lenders.
On the rare occasion that our payday cash lenders have difficulty contacting your payroll officer, they may
request identification documents to help speed up the cash advance process and get your cash advance to you
faster.
What information do you need from my payroll?
Most of our cash advance lenders confirm the following details with your payroll:
- Address
- Length of employment
- Type of employment
- Income
- Pay schedule
- Bank details
They need this information because as responsible lenders they work hard to ensure their cash advances are affordable for you.
How long do I have to wait to get an approval?
If you contact your payroll officer as soon as possible and our cash advance lenders can confirm details with them, your cash advance may be approved as soon as 30 minutes after you submit your application.
Some of our cash advance lenders send both emails and SMS messages and make updates available in your login area in real time.
What if I cannot pay on the due date?
If you think you will not have sufficient funds in your bank account, you must contact your payday cash lender immediately to halt the direct debit. You must contact your payday cash lender at least two days prior to the direct debit date or it will be rejected, resulting in a dishonour fee from your bank.
Do I have to wait ‘til I’ve paid back my current cash advance before I get another one?
Depending on which cash advance lender you are matched with you may be able to apply for another loan before paying off your current cash advance, if it is within your borrowing limit.
Some of our cash advance lenders also allow you to rollover loans, however rollovers and additional loans can often lead to a debt spiral that can be hard to recover from.
Who are Payday Cash Loan?
Find out all you need to know about Payday Cash Loan on the About Us Page
When are you open for business?
We accept online applications from new clients, and can process and issue cash advances for returning clients 24 hours a day, 7 days a week, 365 days a year.
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Testimonials
I appreciate everything that Payday Cash Loan is doing for its customers. The staff are friendly, polite and very customer focused. Keep up the good work! - MC, VIC
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