Have access to your loan in seconds with a MoneyMe Express Visa Card.
MoneyMe is making it even easier to get access to the finance you need with its Express Visa Card. Existing customers are instantly eligible for the card and new customers will receive one when applying for their loan. Find out more about the Express Card in our review below.
|Product Name||MoneyMe Small Loans|
|Min Loan Amount||$200|
|Max. Loan Amount||$2,000|
|Loan Term||1-2 mths|
|Turnaround Time||Within the hour - depending on your institution|
|Total Cost of Borrowing $100||11% - 20% of loan amount (establishment fee) + 4% of borrowed amount each month|
|Requirements||You must be 18+, an Australian resident and be employed with a decent credit history|
|Available to Centrelink borrowers||No|
How does the card work?
The card is a prepaid Visa debit card, letting you load your own funds onto it via direct debit. You can also use the card to receive instant access to loans approved by MoneyMe. The card is issued by Cuscal and lets you access your funds in-store using a PIN and Visa payWave, and also online and overseas.
Features of the MoneyMe Express Visa Card
The card offers various features, including:
- Secure access to your funds. Money that is loaded onto the card isn’t linked to your bank account, so offers you a safer way to spend. Verified by Visa keeps your transactions secure and you will not be held liable for unauthorised purchases.
- Receive loans almost instantly. Bank processing times mean you can be waiting up to 24 hours to receive your loan. With your Express Visa card you can receive your loan seconds after approval.
- Access to your funds 24/7. Your Express card gives you access to your funds anywhere that accepts Visa cards, anytime of the day or night. You can use your card to make purchases in-store or to withdraw cash at the ATM.
What will the card cost?
There are several fees and charges that you should take into account.
To receive the card and load funds:
- $5 to load funds by direct credit facility
- $10 to replace your card when there are none in stock
- No card issue fee
To use funds:
- 2.99% foreign exchange fee
To manage your account:
- $5 monthly expired card fee
- $5 monthly inactivity fee charged after seven months of inactivity until your card expires
- $20 for disputed transactions
- No balance enquiry fee
How you can apply for the card
Getting a card is easy. If you have taken out a MoneyMe loan before, you can register for a card in the Member’s Area. If you haven’t previously applied for a loan, you will need to make an application in order to get a card. To be eligible for a MoneyMe payday loan you need to be:
- Over the age of 18
- An Australian permanent resident
- Currently employed
You’ll also need to have the following documents on hand to complete your application:
- Bank details to check the last 90 days of your statements
- A mobile phone number and valid email address
- Proof of your income
The MoneyMe Express Card gives you a convenient way to spend your own money and receive MoneyMe loans instantly, so if it sounds right for you, register for one today.