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.

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

Updated February 28th, 2020
Name Product Maximum Loan Amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Nimble Short Term Loan
62 days to 3 months
1 hour - conditions apply
15% of loan amount + 3% of loan amount each month
Finder Exclusive: 25% discount on the establishment fee (now 15%) and monthly fee (now 3%)
A loan up to $2,000 with terms up to 62 days to 3 months. Centrelink cannot be your primary source of income.
Sunshine Short Term Loans
9-12 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-12 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Wallet Wizard Smart Loan (Up to 2K)
Up to 2 years
3 hours - conditions apply
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
Safe Financial Small Loan
22 - 52 weeks
Same day - conditions apply
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
3-12 months
1 business day
Establishment fee from 20% of loan amount + monthly fee from 4%
A small loan between $500 and $2,000 that can be funded in 24 hours.
Speckle Small Loan
3 to 12 months
1 business day
10% of loan amount + 2% of loan amount each month
A small loan up to $2,000 from a lender backed by NAB. Transparent eligibility criteria and competitive costs.

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

    The online application makes the process straightforward. All an 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

    Instead of dealing with a service or company that is entirely online, customers can 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, which could be beneficial for some customers.

  • 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 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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