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Fast cash advances

Information verified correct on March 30th, 2017

Fast cash advances can be easy to get, provided you know where to look.

If you find yourself in a situation where you need access to a quick cash advance, such as for emergency car repairs or a budget shortfall, there are a variety of options you can choose from. However, how quickly you get the money you need will depend on the kind of credit you select. This guide will take you through the options available so you can choose the right one for you.

Sunshine Short Term Offer

Sunshine Short Term Offer

This is a short term loan offer with a fast and easy online application for bad credit borrowers who are employed. You can apply today to get approved for up to $2,000.

  • Loan Amount: $2,000
  • Loan Term: 9 weeks
  • Turnaround Time: 30 Minutes - conditions apply
  • Total Cost of Borrowing $100: 20% of borrowed amount + 4% of borrowed amount each month
  • Bad credit borrowers OK
  • Quick and easy Approval
  • No Credit Checks - Must be employed

    Warning about Borrowing

     payday-warningDo 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.

    Cash lenders you can apply with

    Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Product Description
    Sunshine Short Term Loans
    9 weeks
    30 Minutes - conditions apply
    20% of loan amount + 4% of loan amount each month
    Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Family Business since 1999.
    Nimble Short Term Loan
    62 days to 1 year
    1 hour - conditions apply*
    20% of loan amount + 4% of loan amount each month
    Apply for a short term loan and you could borrow up to $2,000
    Ferratum Cash Loans
    Up to 6 mths
    Same Day if approved
    20% of borrowed amount + 4% of borrowed amount each month
    A small loan from Ferratum lets you borrow up to $1,900 without a credit check
    Cash Train Loans
    10 weeks or 3 months
    1 Business Day
    20% of principal amount (establishment fee) + 4% monthly charge
    Apply for a Cash Train loan and get up to $2,000 sent straight to your bank account. Fast online application
    Club Money Payday Loan
    16 - 180 days
    1 Business Day
    20% of the principal + 4% of the principal amount each month
    Apply for a loan up to $1,500 and have up to 180 days to repay.

    Compare up to 4 providers

    How quickly will you receive your cash?

    BrandWhen you receive your cashWhat do you need to do?How much can you apply for?More details
    Cash ConvertersSame dayApply in-store for a cash advance. Online personal loans take 24-48 hours.$100 - $2,000More
    Cash TrainSame dayLoan needs to be approved by 2pm$200 - $2,000More
    DollarsDirectSame dayApply by 2:30pm and bank with ANZ, CommBank, Westpac, St.George or NAB$1,000 - $2,025More
    enablyOne hourApproval takes one hour and you'll be transferred funds minutes after. CommBank customers receive in minutes, others may take longer.$200 - $2,000More
    FerratumSame dayApproval and funds transfer takes one hour. Receiving funds depends on your bank processing times.$100 - $1,900More
    MoneyMeOne hourApproval and funds transfer takes on hour. Receiving funds depends on bank processing times.$200 - $10,000More
    NimbleOne hourLoan must be confirmed before 4:30pm to receive within the hour.$300 - $5,000More
    Sunshine LoansOne hourLoan needs to be approved within business hours to receive it within the hour.$150 - $2,000More
    Swoosh FinanceOvernightLoan needs to be approved by 3:30pm QLD time to be transferred overnight.$400 - $5,000More
    Wallet WizardSame dayLoans need to be approved by 2:30pm to receive same-day funds.$500 - $5,000More

    Are there any risks with having cash advanced quickly?

    Scammers do regularly try to prey on online lenders, so always stick to firms you can trust. An easy way to find out which lenders rate well is to compare them online. Reviews from previous borrowers can also give you an indication of how reliable a lender is.

    Go through the loan contract to look for any hidden fees and charges. By doing this you don’t have to worry about hidden costs down the line.

    What are your options for a fast cash advance?

    If you’re looking for a cash advance that you won’t have to wait for, you may want to consider these options:


    You can use your bank’s online banking platform to set up an overdraft facility linked to your existing transaction account. This way, you can access extra money as and when you need it. You only pay interest on the money you use.

    Credit card cash advance

    If you have a credit card with a cash advance facility, you can use it to withdraw funds from an ATM. Credit card cash advances usually attract higher interest in comparison to personal loan interest rates. However, you can find some that offer low cash advance rates.

    Short-term loan

    You can borrow up to $2,000 through a short-term loan, also referred to as a payday loan. Payday lenders provide loans to individuals in a variety of financial circumstances, including those with poor creditworthiness. The maximum a lender can charge is 20% of the advanced amount as loan establishment fees and 4% as a monthly fee. Typically, you’ll have to make repayments on a payday loan in line with when you receive your pay. A payday lender can transfer funds in your bank account on the same day or by the next business day.

    Medium loan

    If you need more than $2,000 you can consider a medium amount loan. These loans give you access to between $2,001 and $5,000, or occasionally above $5,000, and you can usually apply if you have bad credit. The turnaround time is quick and you can have access to your advance on the same day you apply.

    Payday loan with debit card

    When you apply with a payday lender you may be offered a free debit card , which can be used for future loans and also for spending your own funds. You're able to receive the funds immediately through an ATM or to spend over the counter in-store. It's important to consider the features, restrictions and fees that come with these debit cards before you use them. For example, some lenders do not let you load your own funds onto the card.

    How much will the cash advance cost?

    When you're borrowing an instant loan online, you often pay the cost of the convenience. Here is an outline of some fees and rates to expect:

    • Credit card cash advance: Interest rates between 19-22% p.a.
    • Short term loan. Applying for a short-term loan under $2,000 will carry a 4% monthly fee and a 20% establishment fee.
    • Medium loan. Quick advances between $2,001 and $5,000 have a $400 application fee and a rate of 48% p.a.
    • Overdraft. You can pay between 16-20% p.a. for an overdraft plus ongoing fees.

    What are the benefits of a quick cash advance?

    • Convenience. If you want a quick cash advance, there are lots of internet options. All you need is access to a device that lets you connect online, whether that's a desktop, laptop, tablet or smartphone. If you use an iOS or Android device, you can apply using a range of apps. You can also receive a cash advance from an ATM using your credit card.
    • Quick turnaround. Technology has sped up the underwriting process considerably. Some lenders no longer rely on traditional processes to go through loan applications, which allows them to save time. If you apply online, a 60-minute cash advance may be an option.If you're applying with a lender, you might have to make apply by 1pm or 2pm to get approved funds on the same day. If approved, the money is transferred to your linked bank account automatically.
    • A range of choices. You can apply for a cash advance online through a lender, receive a cash advance through your existing credit card or consider a line of credit loan. If you have bad credit you still have options available.

    How can I find the right cash advance for me?

    When narrowing down your choices, pay attention to these aspects:

    • Processing time. If you're applying with a lender, make sure you can get your funds when you need them. Some lenders can give you access to approved funds in as little as an hour. Many online lenders transfer funds to nominated bank accounts by the following business day. However, some end up taking longer.
    • Interest rate and fees. The type of credit you want plays a role in the costs you end up paying. Other factors that have a bearing on this include your creditworthiness and the lender you choose. Make sure you're also aware of any applicable fees.
    • Cash advance amount. If you end up borrowing more than you require or withdrawing more funds than you need from your credit card or overdraft, you’ll pay extra interest unnecessarily. Conversely, while you might apply for a certain amount, the lender may only approve your application for a lower amount. In such a scenario, you have to decide if you want to move forward with the loan.
    • Advance term. The loan term impacts the cost of the loan. By repaying your advance over a shorter term your periodical payments will increase, but you will end up saving money in interest.  A longer loan term will increase the loan’s cost.

    If you meet the basic eligibility criteria, getting a quick money advance can be easy. Since there are a number of options to choose from, compare a few before applying.

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