Looking for a payday loan fast? 

Need money fast and can’t wait until your next pay check comes in? Whether it’s unexpected car repairs or expensive medical bills, you might think a payday loan could help ease your financial stress. This is where Pocket Cash might be able to lend a hand! 

We’ve helped thousands of Aussies find personal loans, ending their search for payday loans. At Pocket Cash, we do our best to find you a lender that can offer a loan suited to your financial circumstances, regardless of your credit history. Our panel of lenders offer loans from $2,100 up to $10,000 with repayment terms of up to 24 months. 

Scroll down to find out more about payday loans and, if you’re eligible, and how to apply for a loan with Pocket Cash by your side.

What is a payday loan?

In a nutshell, a payday loan (also known as a ‘cash advance loan’) is an unsecured short-term loan for people who need immediate cash and can’t wait until their payday. Typically, they were structured so that the entire balance of the loan was repaid in the next pay cycle which could leave borrowers with insufficient funds to see them to the next pay day. Loans with repayment terms of less than 16 days were made illegal in 2013. 

Now, short term lenders are often referred to as payday lenders. However, there are strict guidelines around what lenders can charge and how loan repayment terms need to be structured. It is a good idea to work with your lender to ensure that repayment terms won’t place you in unnecessary financial hardship. In other words, make sure you can repay your loan and afford to cover any other bills and expenses you may have. You can also ask your lender to align your repayments with your payday so that you can be certain there will be sufficient funds in your account. 

An important note on Payday Loans

For the purposes of this guide, we’ll use the colloquial term ‘payday loan’, but remember, this is not the payday loans of the past. It is important to remember that, as a lender finding service, we’ll put you in touch with a lender that we think will be able to help you. You do not have to accept the loan and you can work with the lender to ensure that the terms of the loan work for you. 

Can I get a payday loan with bad credit?

Getting approved for a payday loan with a traditional lender such as a bank or credit union can sometimes be difficult if you have a bad credit score. While we can’t guarantee anything, we’ll do our best to match you with a lender who can look beyond your credit score, taking your current relationship with money into account. 

Do you conduct credit checks? 

Pocket Cash is a lender-finding service so we don’t conduct a credit check ourselves. However, if we are able to match you with a lender, they might conduct a credit check as part of their assessment process. Don’t stress though! While some lenders will do a credit check, this may not be the only piece of information they’ll look at. There is a range of lenders that we work with, who may look at the bigger picture and focus on your spending habits, income, and financial commitments to get a better idea of whether you’ll be able to repay the loan. 

Am I eligible to apply? 

At Pocket Cash, you will need to meet a criteria to use our lender-finding service for a payday loan. To be eligible to apply for a payday loan, you need to: 

• Be 18 years or older;
• Be an Australian citizen or permanent resident;
• Have an active email address and mobile phone number;
• Have a regular income deposited into a personal bank account (for at least the last 3 months);
• Have internet banking set up.

What do I need to apply?

At Pocket Cash, we aim to avoid the endless paperwork and lengthy application forms and instead only require you to fill in an online application form to help us find a compatible lender. Some information that we require from you is:

• Personal information including name and date of birth;
• Internet banking details;
• The reason you’re applying for a loan;
• MyGov details (if you are receiving Centrelink benefits);
• Employer and contact details.

One application will allow us to put your application in front of a range of lenders, saving you time and, hopefully, hassle. 

How do I apply?

At Pocket Cash, you can apply for a payday loan with our easy-to-use, quick, and 100% online application. To apply for payday loans, follow the steps below:

Step 1: Apply online

Simply scroll up to the top of the page and use the slider to choose how much money you want to borrow and the repayment period. Then, click ‘Apply Now’.

Step 2: Fill in the application 

Next step is to fill in the application form. At Pocket Cash, we like to keep it simple so the application should only take a few minutes to fill out and requires only a few details from you.

Step 3: We’ll find a lender

Once you submit your application, our team at Pocket Cash gets to work on finding a lender for you as soon as possible. If we find a lender suitable for you, we’ll pass on your details to them. The lender will then assess your application, which will include a credit score check and a look at a read-only copy of your bank statements. 

Step 4: Sign your contract

If you’re approved for a payday loan, congratulations! The lender will then send through a contract for you to sign. Make sure you have a read over it, especially the terms and conditions of the agreement. If you have any questions about your contract, please don’t hesitate to contact our team. 

Step 5: Get your money 

Once the lender receives your signed contract, they’ll transfer the funds and you could have the cash in your account ready to use within 60 seconds*. 

Why choose Pocket Cash for payday loans?

If you’ve been searching for payday loans, you’ve come to the right place! At Pocket Cash, we understand people may need a little extra cash to help them get by. That’s why we do our best to find you a payday loan to suit your needs. 

First off, we should make it clear that Pocket Cash doesn’t actually provide the loans. Instead, we save you the time and hassle of applying for payday loans with our lender-finding service. Did we also mention it’s free? We don’t charge you for using our service and you are under no obligation to pay a lender anything until you sign an agreement with them. 

With Pocket Cash, you also don’t have to worry about multiple phone calls or coming in for interviews. Instead, our application form is 100% online and should only take a few minutes to complete. After you submit your application, our team works hard to get you an answer fast. If you submit during normal business hours, we will have a response for you on the next working day. Once you accept and sign a contract, the money can be transferred to your online banking account within just 60 seconds*. 

Apply now! 

If you need cash fast and can’t wait until the next payday, apply with Pocket Cash today for a payday loan! Still have questions about payday loans? Head over to our FAQ page or get in touch with our team and we’ll get back to you during business hours — we’re always here to help. 

*If you have a NPP-enabled bank account