Cash Converters Cash Advance Loan
You can borrow between $50 and $2,000 and apply in-store. Turnaround times are quick, but the loan is expensive.
To apply for a Cash Converters Cash Advance Loan, you can head in-store and fill in the application form. Applications are easy, and if approved, you’ll be able to sign the loan contract immediately. While this loan is convenient, it comes with short repayment terms and high fees. Repayment terms range from 4 to 6 weeks. Your repayments will include an establishment fee of 20% the loan amount and a monthly fee of 4%.
Maximum loan amount
4 to 6 weeks
Term of loan
|Product Name||Cash Converters Cash Advance Loan|
|Minimum loan amount||$50|
|Maximum loan amount||$2,000|
|Loan term||4 to 6 weeks|
|Turnaround time||Same day - conditions apply|
|Costs||20% of loan amount (establishment fee) + 4% of loan amount each month|
|Requirements||You must be over 18 and residing in Australia.|
|Available to Centrelink Borrowers?||Yes|
Information on a Cash Advance from Cash Converters
This is a small amount loan with the maximum that can be borrowed of $2,000 that is designed to be paid back in a short term. The eligibility for the loan is quite flexible, with non-Australian residents able to apply, as well as those receiving Centrelink benefits or with bad credit. Prospective applicants can see more details about the eligibility criteria on the page below.
Features of a Cash Advance loan
- Repayment terms. The Cash Advance Loan has a standard repayment term of up to 4 to 6 weeks, and repayments will be laid out in the loan contract.
- Loan amounts. The amount someone is actually approved for depends on their financial situation, but loan amounts between $50 and $2,000 available.
- Turnaround time. The application process is simple and in some cases decisions are made on the same day.
- In-store application. Customers can apply for this loan in a Cash Converters store, and if they're approved they'll be able to sign their loan contract immediately.
Compare Cash Converters personal loans
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
⚠️ Warning about Borrowing
Do you really need a loan today?*
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.
If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the Financial Counsellors hotline on 1800 007 007. It is open from 9:30am to 4pm, Monday to Friday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged. It's important to weigh up all your options before applying for any form of credit.
Cash Converters Cash Advance eligibility
The eligibility criteria is quite flexible with this cash advance loan, but each application is handled on a case-by-case basis. It's important to note that an application will be reviewed by someone from Cash Converters who will determine whether or not the applicant will be able to manage and repay your loan. Applicants will only be offered a loan that is suited to their needs, finances and budget. The minimum eligibility requirements are as follows:
- Age. Applicants need to be over the age of 18.
- Residency. Non-residents can apply in-store.
- Credit history. Applicants can apply if they have bad credit but they will only be approved if they can afford the loan.
- Borrowers under debt agreements. If someone is currently in a Part 9 Debt Agreement, they are ineligible, but if they have been successfully discharged from a Part 9 Debt Agreement more than 12 months ago, their application will be considered.
- Centrelink borrowers. Loan applicants can receive Centrelink payments, but their total repayments can't exceed 20% of their Centrelink income. Total repayments include loans from other lenders.
How to apply for a cash advance loan
Before submitting an application, it is always a good idea to compare as many options as possible to determine the best possible financial solution. To apply for this loan, click "Go to Site" to find a Cash Converters store location. Prospective applicants should make sure that they have the following documents on hand to ensure that they can complete the application:
- Internet banking details (Cash Converters use this to retrieve 90 days of bank statements)
- 100 points of ID (ID requirements vary from state to state so check this before heading in-store)
Alternatively, you can visit a Cash Converters store to do an in-store application. In-store applications will also go through an approval process, and if approved, a successful applicant's loan should be processed on the same day. Once approved they will received the borrowed money on the spot.