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The Money Centre

The Money Centre offers payday loans through a fully online process that provides immediate approval to acceptable candidates.

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The Money Centre
The Money Centre is an online lender that provides payday loans and pawnbroking loans and also buys gold and other goods. The company was established in 2007 as a short term loan centre in Melbourne. The Money Centre claims to aim to bring short term, unsecured loans to customers in a convenient fashion while also being friendly and operating locally.

Are you struggling financially?


If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here: https://www.finder.com.au/coronavirus-financial-help

⚠️ 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.

Comparison of other payday loans

Whilst we don't directly compare loans from The Money Centre, compare other short term loan offerings before you consider applying.

Data indicated here is updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
$2,000
9-14 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
$2,000
62 days to 3 months
1 hour - conditions apply
$15
20% of loan amount + 4% of loan amount each month
$372
A loan up to $2,000 with terms up to 62 days to 3 months. Centrelink cannot be your primary source of income.
Safe Financial Small Loan
$5,000
22 - 52 weeks
Same day - conditions apply
$35
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + from 8.7% to 48% APR
$396
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
$2,000
3-12 months
1 business day
$35
Establishment fee 20% of loan amount + monthly fee 4%
$354
A small loan between $500 and $2,000 that can be funded in 24 hours.
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Compare up to 4 providers

Types of personal loans from The Money Centre

  • Payday loan. These types of loans are meant for people in financial emergencies who may not be eligible for alternative types of finance. Payday loans are considered to be expensive forms of personal finance and are not long term financial solutions.
  • Pawnbroking loan. Pawnbroking loans are meant for those who want to sell their items or leverage the cash value against their items. The Money Centre assesses their customers' items and claim to offer a fair amount of cash value in exchange. Customers can also use items as security on loans. After the loan is supplied, the total amount of funds, plus any interest accrued must be paid back before the item put down as leverage can be returned.

Features of a personal loan from The Money Centre

  • Online application

    Online application makes the process straightforward. All the applicant's information can be sent via email and there is no need to attend a personal interview. All applicants need to do is provide their details and wait for approval.

  • Physical location

    Customers can also physically walk into The Money Centre store in Melbourne where the staff provide customer service and advice as well as loan options. If someone has questions or issues, there is someone to speak to face to face.

  • Loan options

    The Money Centre provides many different ways to get a loan. These include payday loans and pawnbroking loans. The Money Centre also allows customers to sell personal times to make needed cash. This is particularly useful in times of emergency when people don’t want to get into debt.
  • Repayment options

    It’s easy for people to change repayment plans if they are struggling to repay their loan, but most need to be repaid within 62 to 365 days.

What are the risks of payday loans?

  • Unaffordable repayments. Payday loans are an expensive way to borrow money and should only be used as a last resort. Check the size of each repayment and ensure you will be able to pay it on time. Unaffordable repayments can lead to late fees that will only make things worse.
  • High rates and fees. Rates and fees on payday loans are high but there are rules in place so be sure to check your lender is not charging you more than ASIC allows. Also, look at what you would be charged if you are late on a payment or if you default on the loan altogether.
  • Unreputable lenders. All Australian lenders should be accredited by ASIC. Check for a credit licence on the ASIC Register and ensure that the lender is easily contactable.
  • Impact on credit score. Every loan application shows up on credit reports. While lenders might not consider credit history, applying for lots of loans within a short period can have a negative impact on your credit score in the future.

What other products does The Money Centre offer?

  • Buying gold. The Money Centre buys unwanted and broken gold and jewellery for cash. Gold is paid out at its 100% value to customers. The Money Centre allows customers to take in jewellery they no longer want/need and exchange it for cash for it quickly - all items will be paid out on the spot if deemed valuable.
  • Buying and selling secondhand goods. As an additional service, The Money Centre also buys and sells secondhand goods from customers and pays out cash on electronics and home appliances. Buying from The Money Centre can save money, especially considering some items are even cheaper than daily hire rates for secondhand tools and appliances.

How to apply for a personal loan from The Money Centre

Prospective applicants can apply for a loan from The Money Centre by visiting their website and filling in the online application form or visiting The Money Centre store in person. It’s important for customers to make sure that all items are ready and all information about the loan has been read and understood. The Money Centre’s online loan process provides plenty of information online. The Money Centre also practices responsible lending.

Eligibility requirements

Applicants must:

  • Be 18 years old or older
  • Not be a Centrelink recipient
  • Be employed full-time

The online application system makes it easy to research and apply for a loan. The Money Centre operates as local business so people can come and chat directly with staff if they have questions, providing clarity around their loans and processes.

What to be aware of

Prospective applicants should always compare payday loans prior to submitting an application if they are to find the best possible solution for their circumstances.

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