Pocket Cash is committed to the practice of responsible lending. We ensure that we only recommend lenders to customers when we know they can comfortably afford their products.

Our service is designed to put you in control of your cash flow, for those times when the occasional emergency or unexpected bill catches you off guard.

Assess loan affordability

At Pocket Cash we understand the importance of accurately assessing an applicants affordability and suitability situation for one of our lender’s products. We see affordability as a measure of an applicant’s capacity to fund new and outstanding debts, currently as well as in the future. Therefore, we undertake reasonable enquiries to verify your financial situation and ensure you can comfortably repay your loan now and in the near future.

Flexible loans

Varying loan amounts are available with Pocket Cash lenders. Personal Loan amounts range from $500 to $2000. Initially, all loans have a 12-month loan term. However, you can pay your loan out at any stage with NO additional fee’s or charges.

Income

As part of our commitment to responsible lending, customers need to have regular income going into a personal bank account. Our lenders accept applications from people who are employed as well as people receiving Government benefits, providing they meet the eligibility criteria.

To qualify for one of our Personal Loans, you must:

• Be over 18 years of age
• Receive a regular income into a personal bank account
• Receive at least $400 per week income
• Be an Australian resident, or have permanent residency
• Have a direct contact number

Transparent service

Pocket Cash lenders comply with all relevant Commonwealth and State Legislation. There are no hidden fees or surprises. We are very transparent, and all of the costs associated with our loan products are described in detail within your loan contract once approved. There is no obligation to take us up on an approved loan. If you are not happy with what is on offer you may withdraw your request at no cost.

Refer to our loan calculator to get an idea of what your repayments will be. If costs increase, it will be because you have failed to honour your loan agreement!

ID verification

Part of our responsible lending process includes collecting personal information. We take fraud very seriously. Identification information you provide us when you fill out an application will be used to conduct an e-verification (an online identity verification). At the time of your application we will specifically seek your consent for these verifications and checks to be conducted. Should you not agree to have your identity verified by these means, please contact us so as we can discuss different options with you such as confirming your identity with your employer.
Ultimately we want to ensure it is really you who is taking out the loan and that the funds are sent to the correct bank account.

Credit check

As a responsible lender, we do carry out a Credit Check on eligible applicants. We are more lenient than traditional institutions such as Banks; however, we too have ideals to follow. As long as your current financial situation is looking good, we will happily consider your loan application. Bad credit loans are based on your capacity to meet your loan repayments and future credit worthiness.

Are you a responsible borrower?

While it is important when applying for a line of credit to choose a company that practices responsible lending, it is just as important to make sure that you use a personal loan responsibly. This is what we trust you will do with a loan! Manage your money wisely.

Guidance and Warning About Borrowing

We strongly advise that you think carefully before applying for a personal loan, because we expect it to be repaid as agreed. We describe the potential consequences of failing to repay as promised in our FAQ’s and costs section.

*The following statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

• For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
• Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
• If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you.

*This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.