⚠️ 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.
When will the money reflect on my account?
Hi Joseph,
Thank you for contacting Finder.
The deposit of the approved loan amount to your bank account will depend on the Lender. Each Lender has their cut-off time after you have accepted and signed the terms for the loan. If you are within the cut-off, the money can be deposited to your account the next business day but it will depend on the verification of your bank on when will it reflect on your account. There are banks that requires 1-3 business days.
I hope this helps.
Please do not hesitate to reach out again to us if you have additional questions.
Cheers,
Ash
I’m wondering why many of the different lenders out there will not allow applicants to send bank statements via email?
Hello Scatz,
Thank you for your comment.
There are lenders that require the original print, and not online versions, of the statements. This is for documentation and security purposes. When something happens to the database, these documents in a paper form are used for back up.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
Safety net asked for my pin and online banking password is this safe?
Hi there,
Thank you for your comment.
Generally, lenders will request your bank account details, your account number, and your routing number, for a number of reasons. One reason is to verify that you’re eligible since most loans require you to have an operating bank account to qualify. Nevertheless, please know that they will not have access to your bank account and neither will the third-party service like Finder that facilitates the sending of read-only copies of your bank statements. Lenders will also not store your login details and generally, this process is encrypted and secure through their site.
The article above on why do payday lenders ask for your internet banking logins will provide further explanation on this.
Regards,
Jhezelyn
This loan company just asked me for my online banking log in info and said that is how they are going to get me the money is this a scam
Hi Anthony,
Thank you for your inquiry.
Generally, Payday lenders ask for your Internet banking details because it gives them a way to access your statements. This is one way payday lenders are able to process your application much faster than banks. Instead of you emailing your bank statements from the past three months, you provide your logins and the lender can access them instantly.
I hope this information has helped.
Cheers,
Harold
Hi, I am applying for a loan from Progressive Money, and they want my online banking details, via Account Score, to read my bank statements.
Having read posts in here, it sounds okay, but I spoke with my bank (Santander) who advised not to do this, said it was a scam. Do you know of banks are aware of Account Score etc. I feel worried about giving the account details after speaking with my bank
Hi Gillian,
I did a company search on the ASIC website and these are what I found out about Progressive Money:
You may contact ASIC if you have other concerns about the legitimacy of their business transactions.
If I may add, if you’re able to confirm that you wish to continue with this loan application, you may ask your lender to allow you to send printed statements, if that makes you feel more secure.
Hope this helps.
Cheers,
Jonathan