Cash advance couple pet bill

Online Cash Advance

Mind the gaps in your cash flow with a cash advance.

A cash advance is a convenient solution for those in need of quick access to money. Maybe the vet bill was bigger than you thought it would be, or maybe your car broke down and you need to get to work. One reason people consider easy cash advances is if they have poor credit and they don’t think they’d be able to get a loan from a bank. This guide will take you through what’s involved with an online cash advance, how you’re able to compare and access one, and how to apply.

Sunshine Short Term Offer

Sunshine Short Term Offer

  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
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100% confidential application

Sunshine Short Term Offer

A short term loan with a fast and easy application available to those with good or bad credit. You can apply today and get approved for up to $2,000.

  • Loan amount: $2,000
  • Loan term: 9-12 weeks
  • Turnaround time: 30 minutes (conditions apply)
  • Fees: 20% of borrowed amount + 4% of borrowed amount each month
  • Income requirement: 50%+ of income cannot be from Centrelink
  • Bad credit borrowers OK
  • Quick and easy Approval
  • No Credit Checks
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Comparison of online cash advances

Updated August 18th, 2019
Name Product Maximum Loan Amount Term of Loan Turnaround time Costs Fortnightly Repayment (for $1500 Loan)
9-12 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-12 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
up to 12 months
Within 48 hours
20% establishment fee + 4% monthly fee
Cash Converters offers this loan from $400 that gives you up to 12 months to repay.

Compare up to 4 providers

How to get a cash advance online

  1. Fill out your application online. No faxing of documents, the lender usually just needs read-only access to your transaction history.
  2. Find out if you've been approved. This usually takes 60 seconds. You can find out via phone, email or SMS.
  3. E-sign your contract and receive your loan. Agree via SMS or email and then receive the money into your nominated bank account.

How does a cash advance actually work?

A cash advance is an advance of finance which is credited to you by a bank or lending institution. Online cash advances can be for as little as $20, say when you withdraw cash from an ATM using a credit card, or $25,000 or more, as with an overdraft facility from your bank.

People opt for online cash advances when they need immediate access to finance. This could be to pay for emergency medical expenses or forgotten bills. They are, and should be, seen as a ‘last resort’ measure, a safety net that can help you manage cash flow problems or money to see you through to your next payday.

Options for getting a cash advance

There are a few ways to take out a cash advance. Here is a breakdown of the facilities available to you:

  • Credit card. If you have a credit card then you will have access to a cash advance facility. All you have to do is withdraw cash from an ATM using your card and this money will be considered a cash advance. Keep in mind that the cash advance fees for credit cards are usually around 20% p.a. and that a credit check will apply.
  • Payday loan. A payday loan lets you borrow between $100 and $2,000 for a short period of time, usually between 16 days and 4 months. The approval time for this loan is usually very quick, sometimes within 60 seconds, and some lenders can transfer you the money within an hour. The interest for these loans is considerably higher than other loans, usually around 24%. This type of loan is an option for people with bad credit and some lenders do not perform credit checks.
  • Overdraft. An overdraft facility is something you set up with your bank where you are able to overdraw your account up to and including a certain limit. You can set up this facility and keep it for emergencies as you are usually not charged any fees or rates unless you use it. The limit will be agreed upon by you and the bank and will depend on your financial position, but some banks offer in excess of $25,000. This facility can be used for personal and business purposes. If you have negative marks on your credit file but a good relationship with your bank, this still may be an option for you.

What was she meant to do now?

Amanda knew she was in a bit of a situation when she received the final notice on her bill. After going on a payment plan with her utility company and the final notice sitting in her hand, she knew she would need to make the payment the next day. Trouble was, she wasn't getting paid until the following week and she didn't have enough money to cover it.

Amanda sat down to consider her options.

  • She had a credit card but it was maxed out so she wasn't able to put the payment on it.
  • She gave her bank a call to discuss her options for a same-day personal loan or to set up an overdraft on her account but due to the credit problems in her past they weren't able to help.
  • She considers a lender that offers cash advances with no credit checks. She finds out that she needs to provide her personal details, financial details, employment details and also 90 days' worth of her bank statements, but that the lender won't look at her credit file. She finds out she'll be approved for the $250 she needs and that she'll be able to cover the repayments over her next two paydays. She applies for the cash advance and the money arrives in her account the following business day.

The cash advance process: What you need to know

The process will differ depending on the method you choose. For instance, if you already have a credit card, a cash advance simply involves going to the ATM and withdrawing cash or transferring money from your card account using online banking. If you opt for a different product, say an overdraft or a payday loan, then the process will be different. Whichever option you go with there are some factors that you'll need to consider:

  • Credit check. Not all lenders will perform a credit check when you apply, but most of them will. If you have bad credit and are in need of a online cash advance, you can go for a lender who doesn't perform credit checks or apply with a lender who considers bad credit applicants. The choice is yours.
  • Employment verification. If being employed is a requirement for a loan then the lender may need to verify your employment. This may involve calling your payroll manager or boss (whoever's contact details you provide) and checking you work there and how long you have been employed. If you want to confirm what kind of employment verification is required, you can check on the relevant lender's website.
  • Submitting documents. Online lenders offer a quick application and approval process that is usually online. These lenders still need to verify certain information with you, so how do you submit your documents? Some use online verification services that automatically check your bank account history without you needing to send in any of your statements. Still, you may be required to scan in and email copies of your driver's licence, passport, etc. in order to verify your identity. You can check the requirements of document submittal on our review pages or with the lender directly before you apply.

Important points when choosing a cash advance facility

The cash advance facility you decide to go with will depend on a few things, namely your needs as a borrower. Here are a few questions you can ask yourself to help you choose the right cash advance option:

  • What repayments can I afford?
    The repayments offered with cash advances will differ depending on what facility you select. For instance, overdrafts have no set repayments and allow you to pay back the advance at your own pace. In contrast, a payday loan has very strict repayment terms that usually line up with your pay cycle. Decide what will work best for you.
  • How much money do I need?
    Different cash advance facilities offer different loan amounts, so you need to ensure that you will be able to get the amount you need. An overdraft facility will most likely be able to give you access to the largest loan amount, depending on your finances, whereas a payday loan will depend on the lender, your income and your credit history. A cash advance from your credit card will depend on your credit limit and how much you are able to withdraw in a day.
  • What credit accounts do I already have?
    You may want to look at the overdraft facility offered by your current bank lender, and even have a chat to them and see if you will be approved. If you already have a credit card with an available balance on it then this may also be a viable option for you. All applications for new credit accounts show up on your credit file, so you might want to work with the cash advance facilities already at your disposal.

About to apply for a cash advance? Read this first

While online cash advances are convenient, there is a cost for this convenience. The interest rates charges on these types of finance tend to be significantly higher than with other types of personal loans. For instance, if you make a purchase with a credit card you may get charged an interest rate of 13% p.a., but if you decide to withdraw cash to make the same purchase you could be paying 7% p.a. higher.

Apply for a cash advance

While the interest on payday loans may not seem to be too much higher than with other personal loans, you need to consider them in regards to their repayments terms. Other personal loans have repayment terms of one year or more so offer an annual percentage rate, for example of 13% p.a. But a payday loan is usually paid back within one or two months, so the 24% interest rate is not an annual rate but a monthly rate. Considering this, if payday loans offered year-long terms they would charge an interest rate of 288% p.a.

How you can apply for an online cash advance

If you’d like to apply for a payday loan you can use the comparison table on this page to compare your options. Once you have selected a loan you can click ‘Go to Site’ to be directed to the lender’s website where you can fill out an online application form. If you are unemployed or if you receive Centrelink payments there are still ways you can get a loan.

If you’re interested in applying for a credit card to take advantage of the cash advance facilities you can compare your options right here on

If you would like to apply for an overdraft facility you can apply directly with your bank or credit union to find out what fees and rates are involved, and how to set one up.

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