Frequently asked questions

Select a category below for more information

So how does the application process work?

It’s super simple. Simply select how much you’re after on the calculator, hit apply now and fill in your info. The application should only take you about three minutes!

The process is paperless and you’ll receive a quick decision. You sign electronically and then you’ll receive the cash in your account. It’s that simple.


Who can apply?

You must be:

  • An Australian resident
  • Over 18
  • Employed

What do you need from me to apply?
  • Bank details so we can deposit your loan
  • A mobile phone number and valid email address

Providing us with as much correct information as possible means we can let you know the outcome of your application asap.


Why didn’t I receive an immediate decision?

We’re a digital lender, but sometimes we need to look at things a little more carefully to ensure we’re making the right decisions.

If you’re unable to provide all of your information on the spot, it may take a little longer. Sometimes we may need to call you to confirm your details over the phone.


Will you be contacting my work?

We may contact your employer to verify your employment status and income.


Can I apply for a MoneyMe loan over the phone or in a shop?

We only take applications online – but we’ve made our application process as quick and user-friendly as possible. It’s tailored for phones and tablets too, so it’s easy to apply for a MoneyMe loan from any device.


Who is eligible for a MoneyMe loan?

Anyone who is over 18, an Australian resident, employed, and has a decent credit history.

We’re big on responsible lending, so if we don’t think you’re in a position to repay the loan comfortably, we won’t lend to you.


How much will you lend me?

We will always try to ensure that we’re only lending an amount you can afford to repay.

Our lending criteria take a number of factors into account before deciding the amount we’re able to lend you. These include income, expected living costs, and your MoneyMe loan rating.


Do you conduct credit history checks?

As a responsible lender, we carry out a credit check as part of our assessment of your application. This doesn’t mean we automatically decline anyone with a mark on their credit file and we understand there may be a good reason, or your circumstances may have improved.

To give yourself the best chance of acceptance, make sure you give us as much information as possible (and check that it's accurate) during your application.

There are some circumstances whereby we will decline an application, such as if you have a poor credit history, are bankrupt or are in a debt agreement.


How fast can I get my loan?

It only takes about 3-5 minutes to apply. Once your application has been approved, we move fast to get you your cash.

We aim to have your loan funds in your bank account within the hour. This will depend on your bank and in some instances it may take longer.


How fast can I get my loan?

On rare occasions, we might not be able to verify some of your information electronically. If this is the case, we’ll let you know straight away what you need to send us.

We’ve got a number of ways to make this as easy as possible for you:

E: help@moneyme.com.au

T: 1300 669 059

F: 02 8415 7112


How soon after my last loan can I get another loan?

Straight away, so long as you’ve repaid your last loan in full and continue to meet our lending criteria.


How does it work if I apply outside of business hours or on a weekend?

Because our digital application is smart, easy and fast, you can still apply outside of business hours or on weekends.

If you are approved and bank with an institution other than Commonwealth bank, your loan will be transferred at the start of the next working day.


Why was my application declined?

We need to ensure that we can confirm your identity, and that you can comfortably pay back the loan.

If we were unable to lend to you this time, it is because we take our responsible lending practices seriously.

We’re always happy to have a look at your application, particularly if your circumstances have improved.




Why do you ask for my bank statements?

We are required by law to make an assessment that a loan contract is not unsuitable to you.

At MoneyMe, we obtain a copy of your most recent bank statements to make a credit assessment. We may subsequently obtain bank statements on an ongoing basis for the purposes of ongoing account management, including if you are in default.

We look at your recent bank statements through our trusted partner, Proviso - the same technology used by a number of big banks and online companies. This means you can avoid all the messy and time-consuming admin of getting your bank statements and pay slips to us.

It is not possible for anyone at MoneyMe to see or access your online banking password.


Why do you ask for my online banking details?

It’s the fastest and easiest way for us to process your loan application. We have a read-only snapshot of your transaction history and cannot access your details in any way.

All data is securely handled in accordance with data protection laws and our privacy policy.


Who sees my online banking login details?

We are only permitted read-only access, so will only ever be able to view the recent transactions on your account – nothing more. No person can access your online banking password.


What happens to my online banking details after I input them on your website?

Your bank details are encrypted in transit and stored securely by Proviso. We do not have the ability to change any of your banking details or access any of your personal information.

Complete Proviso terms and conditions are available here.


What costs are involved?

At MoneyMe, we offer variable costs and the cost of your loan is based on your MoneyMe loan rating. We reward customers with a good credit history by providing them with a lower cost.

Apply now to find out your MoneyMe loan rating.


What is a MoneyMe loan rating?

The MoneyMe loan rating gives a score from A1+ to A5 for each customer and is mostly determined by your credit history. The specific costs and repayments are outlined on our costs page.

Each time you take out a MoneyMe loan and repay us on time, you can improve your MoneyMe loan rating and may be able to borrow at a lower cost next time.


How can I find out my MoneyMe loan rating?

To find out your MoneyMe loan rating, simply click the ‘Apply now’ button on the loan calculator and fill out our commitment free form. You'll receive a loan offer with your loan rating, which is completely up to you whether to proceed or not.


Do I have to submit an application to find out my loan rating and what my repayments will be?

No. Our application process is commitment free which means once you receive your loan offer, inclusive of your rating and repayments, it is completely up to you whether to proceed or not.


How can I improve my MoneyMe loan rating so I can borrow at a cheaper cost?

Each time you take out a MoneyMe loan and repay us on time, you can improve your MoneyMe loan rating and may be able to borrow at a lower cost next time.


What other fees may be charged?
  • If you wish to make an early payment on your loan we don't charge any early payment or early termination fees.

  • If you need to change a payment and it is within your loan term, let us know 1 business day before the payment is scheduled and we will change it for free.

  • If you don’t let us know and your direct debit dishonours, we charge you an administration fee of $25 if you have a small loan or $15 if you have a medium or personal loan (your bank may also charge you a fee).

  • If you go over your agreed loan term, we may charge you $5 per day if you have a small loan. If you have a medium loan or personal loan, there is $15 fee if you defer your payment for more than 5 days (but let us know and we’ll try and help you out by reducing this fee).

  • Not paying us back on time will negatively affect your loan rating.



How do I make my repayments?

Repayments are set up to be really easy. When you apply, we set you up with a customised direct debit schedule that is aligned with your pay cycle.

Once your loan is paid back in full, the direct debits will stop.


Speak to us!

We can’t be of assistance if we don’t know what’s happening.


What happens if I can’t honour my direct debit?

If your bank declines your direct debit payment, you’ll be charged $25 payment dishonour fee if you have a small loan with us, or $15 payment dishonour fee if you have a medium loan or personal loan with us (Your bank may also charge you a dishonour fee).

The fee is payable every time a direct debit is dishonoured, so it’s important you call us beforehand if you know there are insufficient funds in your account to make the scheduled payment.


What happens if I have overdue payments?

If your small loan account is not paid in full at the end of the loan term, we’ll charge a late fee of $5 per day until your account is settled.

If you have a medium loan or personal loan account and you defer your payment for more than 5 days, we’ll charge a late fee of $15. Your total repayments may be higher as the interest will be calculated on your daily outstanding balance.

We will contact you whenever your payments are behind to understand your situation and try to come to an arrangement.


What happens if I have seriously overdue payments?

You need to speak to us to make arrangements.

If your account reaches 60 days overdue, we intend to list a credit default on your file with credit reporting agencies. The default will typically stay on your record for up to five years and may affect your future ability to obtain credit with companies such as Telco’s, banks, and MoneyMe.


How can I get independent assistance?

We are not allowed to give you financial advice, but recommend using the government’s MoneySmart website for advice, go to their webpage www.humanservices.gov.au/advancepayments or call them on 1800 007 007.


What if I am facing hardship?

If your circumstances have changed since you took out the loan, we may be able to offer some assistance. Please call us on 1300 669 059 to allow us to assess your financial situation.

We may need evidence of the change (such as a severance letter or a doctor’s certificate). We may also need to get in touch to obtain further information from you once you have completed the form.


When will MoneyMe contact me by telephone?

We’ll only call you if we need to; such as if you’ve made an application or missed a payment and we need to speak to you.

And you’re always welcome to get in touch with us in a variety of ways – check out our contact us page for more details.


Can I come into a branch?

MoneyMe is 100% online – but don’t worry, there’s more ways than ever to get in touch with us:

E: canwehelpyou@moneyme.com.au

T: 1300 669 059

F: 02 8415 7112


How do I make a complaint?

Customer satisfaction is extremely important to us, but we understand sometimes we may get it wrong.

See our complaints page for further information.


Where can I find your policies?

At MoneyMe, we’re huge on transparency and honesty.

Check out the links below to our key policies:


What online security measures do you employ?

Your privacy and security is important to us. We use products that are the best of the best in the online security business.

We follow the same standards as banks and other online payment companies to ensure your safety and security.

Security Policy


How is my information stored and protected?

All information is entered through a Secure Socket Layer (SSL), which means an encrypted connection is created between your system and ours, and it's always kept that way.


How do I change my password?

Head to our member area, and submit your information in the verification section. A link will be sent to your email for resetting your password.


How do I change my email address?

If you can’t remember which email address you gave us, or you need to update your address, you’ll need to call us on 1300 669 059 and one of our agents will update your information.


How often can I make withdrawals?

You can withdraw from your credit limit as often as you like up to your available limit, as long as your account is up to date.


How do I make a withdrawal?

You can make withdrawals through the Members Area by clicking the ‘Withdraw cash’ button in your Account Overview, or from the menu by clicking ‘Manage my loan’ and then ‘Withdraw cash’.

To make a withdrawal now, log in to the Members Area here.


How does my credit limit work?

When you apply you’ll be approved for a global credit limit, which is your highest approved credit amount. You’ll be able to withdraw (minimum $250) as many times as you like up to this determined limit.

As you repay the principal on your withdrawn credit, this amount will become accessible to withdraw again – given your account is in good standing.

For your account to be in good standing you must meet your minimum set repayments. Failure to do so will result in restrictions placed on your credit limit.


What are my payment options?

We set your minimum payments over a fixed term, however you’re able to make extra payments or repay in full at no extra cost.

If you wish to reschedule your payments, you can up to 7 days from the scheduled date for free.

To make a payment now, log in to the Members Area here.


What is the minimum repayment?

The minimum repayment is set each time you withdraw cash and is the amount you need to pay in order for your account to remain in good standing.


How do I make repayments?

Your payments are set up as direct debits and are aligned to your pay cycle. You can view your schedule in the Members Area.

If you wish to make additional payments you can through the Members Area by clicking the ‘Make a payment’ button in your Account Overview, or from the menu by clicking ‘Manage my loan’ and then ‘Make a payment’.

To make a payment now, log in to the Members Area here.


How do I know if I’m eligible?

To be eligible you must be over 18, an Australian resident and employed.

Please note that all applications are subject to assessment and suitability based on a range of factors such as your income, expenses, bank transaction history and your credit report.


What happens if I don’t use it for a while?

Your credit limit will remain active and available until you request to close your account.


How can I increase or decrease my credit limit?

To increase or decrease your credit limit go to your Members Area, click on ‘Account details’ and go to the ‘My credit limit’ section. There you’ll find an increase/decrease button.


What if I want to pay off my balance early?

That’s absolutely fine, and we don’t charge any early exit fees either. Simply visit the Members Area and click ‘Make a payment’ and select ‘Pay outstanding balance’.

To make a payment now, log in to the Members Area here.


Can I extend my repayment term?

Your minimum repayments are set and cannot be reduced or extended. If you are facing financial difficulty or hardship we encourage you to reach out to us. We’re fair and understanding, and will work together with you to find a solution that works for both of us.


How do I obtain statements?

Each month you’ll receive an email with a link to your Statement of Account.

You can also access it by going to your Members Area, clicking your Account details where you’ll find a link under ‘My credit limit’.


Do I get a card attached to it?

Currently you do not receive a card attached to your credit limit.


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