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Wallet Wizard Smart Loan

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Wallet Wizard Smart Loan
Maximum loan amount
Turnaround time
24 hours
Fortnightly repayment
for $1,500 loan
Term of loan
Up to 2 years
Do you really need a loan today? If you would like to speak to someone about your finances you can call the free National Debt Helpline on 1800 007 007.


Wallet Wizard’s Smart Loans are easy to apply for and quickly approved, but they can be expensive, with an interest rate of 47.8% p.a.

With Wallet Wizard’s Smart Loan, you can borrow between $500 and $8,000. The loan comes with many features, like SMS and email reminders three days before your payment is due. It also features a member’s area, which allows people to log on and check on available credit. You could also get a prepaid Visa card, which you can order through the member’s area. Interest rates are high, and an arrears fee of $10 will apply if your repayments are late.


  • Long repayment terms
  • Low minimum borrowing amount
  • Access redraws and loan top-ups


  • High interest rate
  • High fees for borrowing money

In this guide

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  • Details
    • Product Details
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Product Details

Product Name Wallet Wizard Smart Loan
Minimum loan amount $500
Maximum loan amount $8,000
Arrears Fee $10
Loan term Up to 2 years
Turnaround time 24 hours
Costs 47.8%
Requirements You must be an Australian citizen over the age 18 and have a steady income.
Available to Centrelink Borrowers? Yes

⚠️ 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.

How does a Smart Loan from Wallet Wizard work?

Applying for a Wallet Wizard Smart Loan takes a few minutes and can be completed online. There is a member's area that allows you to check the progress of an application. If you're approved you'll receive access to your credit limit usually within three hours. Once you start using your balance you'll notice your "available credit", which is the difference between your credit limit and the current account balance. The balance is what you owe Wallet Wizard.

Your repayments vary depending on the balance of your account. A reminder of your repayment will be sent three days before it will be automatically direct debited from your account. You'll also receive a detailed statement and cost outline in your contract.

This is a continuing credit contract so unless you request to close the account it will remain open.

What are the risks of payday loans?

  • Disreputable lenders. Check the lender has a credit licence and is not charging you more than ASIC allows. The lender should be easily contactable.
  • Unaffordable repayments. Consider the size of the regular repayments and ensure the loan is able to be repaid during the loan term. If not, extra fees apply to extend it. Be careful, since repayment periods for these kinds of loans tend to be shorter than regular loans.
  • Multiple applications. Every loan application shows up on credit reports. While lenders might not consider credit history, several applications within a short period can have a negative impact on your credit score moving forward.
  • Check rates and fees. Establishment and monthly fees are capped, so be wary of lenders quoting prices beyond the legal maximum amounts. Be crystal clear on what will be charged for late payments or a default on the loan. The total cost of the loan matters here – lenders can charge interest rates on top of everything else.
  • Long-term repercussions and legal issues. Once the loan agreement is signed, the customer is bound to its conditions until the loan and any associated rates and fees have been paid. Typically these loans are unsecured, which means that the lender can initiate legal proceedings against the customer if they can't repay.

Features of a Wallet Wizard Smart Loan

The Wallet Wizard Smart Loan comes with the following:

  • Repayments. You can make additional repayments at any time and you'll receive reminders via SMS and email three days before your repayments are due.
  • Automatic payments. Repayments are debited from a nominated bank account automatically on your scheduled due dates.
  • Approvals. The online application does not take long to complete, and once you provide all the required information, Wallet Wizard's loan engine goes through your credentials, works out a suitable loan amount and presents you with a repayment plan. Unless Wallet Wizard requires additional information, you can expect an answer in minutes.
  • Prepaid card. Access your approved funds more easily with the Wallet Wizard Visa Card. Once you're approved for and have made repayments on your Smart Loan you can order your card through the member's area.

How much will a Wallet Wizard Smart Loan cost?

You will be charged an interest rate of 47.8%.

What can I use this loan for?

You can use a Wallet Wizard Smart Loan for almost any legitimate purpose. You can make purchases using your Wallet Wizard Visa Card, or take cash directly from your nominated bank account. That being said, if you are unsure as to whether you are able to pay certain bills using a Wallet Wizard loan, it's best to contact the lender directly.

How to apply with Wallet Wizard

To apply for a Wallet Wizard Smart Loan you have to submit an online application. Bear in mind you have to meet the following eligibility criteria to apply:

  • Are a permanent resident of Australia
  • Are over 18 years old
  • Can apply if you receive Centrelink payments
  • Can apply if you are a current or discharged bankrupt

To complete the application, you have to part with different kinds of information, which includes the following:

  • Your complete name, residential address, phone number and date of birth
  • Details of your Australian passport, driver’s licence or Medicare card (any two)
  • Employment details
  • Financial details

The Wallet Wizard Smart Loan is not the only loan of its kind and you should always compare other options and consider alternative financing methods before taking out this kind of loan.

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Elizabeth Finder

Lead Editor

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August 13, 2018

Can I apply for a credit increase of $5000 for a holiday that I can afford the repayment?


Jhezelyn Finder

August 13, 2018

Hello Anthony,

Thank you for your comment.

Please note that the amount you will be approved of depends on your credit assessment. The lender will decide. To know if you can apply for a credit increase, it’s best that you directly get in touch with Wallet Wizard so they can check it for you.

Alternatively, since you mentioned that it’s for a holiday, you may want to compare holiday loan products. Please note that every lender has its own lending criteria that you must meet to be approved. Best to check your eligibility before submitting an application. To apply for one of the holiday loan products. You may please click the “Go to site” button of your preferred loan product.

Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.



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Johnny moscato

June 23, 2018

Is there any chance of receiving funds in my account tonight?


Joel Marcelo

June 23, 2018

HI Johnny,

Thanks for leaving a question on finder.

Wallet Wizard only releases funds during business days and before 2:30 PM (Sydney Time), so if your loan is approved on a weekend, your funds will be deposited the next business day.

Just to have an idea on the turn around time, once your loan is approved, Wallet Wizard will usually process the transfer of funds immediately and it will get into your bank account after 1 to 3 hours in some cases. You’d need to check with Wallet Wizard directly in case your funds did not reflect in your account after the given time frame.



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May 20, 2018

I put wrong acc number on application. How do i change it after letter of offer


Jeni Velasco Finder

May 20, 2018

Hi Col,

Thank you for getting in touch with finder.

As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

If you have received the letter of offer from them, I suggest that you contact Wallet Wizard directly as soon as possible to update some info you have given them. You may reach them at 1300 925 538.

I hope this helps.

Have a great day!



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May 06, 2018

Can I pay a wallet wizard loan off early?


Jhezelyn Finder

May 06, 2018

Hello Ryan,

Thank you for your comment.

Because Wallet Wizzard allows you to make additional repayments at any time, it means that it’s possible that you can pay your loan off early. You may check with them and see the repayment plan that will suit you.



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October 24, 2017

I’m currently under debt agreement, can i get loan?


Anndy Lou Finder

October 24, 2017

Hi Reza,

Thanks for your question.

Wallet Wizard may consider you for a loan even if you are currently on a debt agreement. You could also compare other lenders offering loans for bankrupts. You can click the name of the lender to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

Kindly review the eligibility criteria and the terms and conditions of the loan before submitting your application.



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