Wallet Wizard provides lines of credit up to $8,000, with flexible repayments. You can repay your loan weekly, fortnightly and monthly, and there is no early repayment penalty. You can also redraw your additional payments or apply for a credit limit extension. These loans have a quick approval process and you could receive the funds within 60 minutes. You will only be charged for how much you use. While there are no ongoing fees, this loan comes with a high interest rate of 47.8% p.a. Borrowers with bad credit or receiving Centrelink payments can still apply.
⚠️ 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.
Wallet Wizard loans vary from $500 to $8,000 and are offered as a continuous credit product – this mean the loan does not close until you ask Wallet Wizard to close it.
Applicants will receive a response shortly after submitting their application, and if approved they will be offered a credit limit. This is the maximum level of credit made available to that applicants based on their circumstances. To access or view their available credit balance, customers can login to the member's area.
Repayments are made weekly, fortnightly or monthly depending on the repayment schedule set out in an applicant's loan contract, but loan customers are also able to apply to redraw and top up their loan with additional repayments through the member's area, for no additional cost. Repayments are automatically direct debited from a nominated bank account on specific dates set out in the loan contract.
What features does Wallet Wizard offer?
Repayment flexibility. Repayments can be made weekly, fortnightly or monthly. Additionally, there is no early repayment penalty.
Various credit limits available. Apply for a credit limit between $500 to $8,000.
Top-up and redraw. Customers can login to the member's area to to pay extra funds on their balance or apply for a credit limit extension.
Bad credit and Centrelink considered. Prospective applicants can apply if they have bad credit, have been bankrupt or receive Centrelink payments.
Transparent fee structure. This loan comes with a high interest rate of 47.8% per annum. No ongoing fees apply to this product.
Quick approval. The approval process for these loans is quite fast due to the use of their loan engine technology. This automated engine works out the exact loan someone is eligible for and also sets out a repayment schedule. Once approved, funds can be transferred into someone's account within 60 minutes if the contract is accepted before 2:30pm Mon-Fri Sydney time. If not, it is transferred by the next business day.
What are the risks of a Wallet Wizard loan?
High interest loans can leave you in a worse financial position than before you borrowed the money so consider these risks carefully before you apply:
Unaffordable repayments. Short term credit is a high-cost way to borrow money. If you miss a repayment and don't tell them then Wallet Wizard will charge a late fee that increase the amount you owe.
High interest rates and fees. Rates and fees on these products are high and there can be more fees if you get behind on making payments. Make sure that you can comfortably avoid the repayments to avoid any unexpected fees.
How to apply for a Wallet Wizard loan
This loan can be applied for conveniently online. Applicants must meet the following eligibility criteria before starting an application:
Must be at least 18 years of age.
Must be an Australian citizen or permanent resident
Applicants will also need to have access to the following required documents:
Bank details. A BSB and account number are required to apply, or bank statements that cover the past 90 days.
Identification. Two identification records are needed. These can be a driver’s license, Medicare card or passport number.
Past records. Details of any credit contract repaid in the past 90 days is required.
General information. General information about the applicant, including their name, date of birth, address, and employment status should be provided.
Applicants should ensure that they compare their options before submitting an application, to get the best deal possible for their circumstances.
Frequently asked questions
Yes, customers can login to the member's area of the Wallet Wizard site to see how their application is going.
Applicants are able to submit these documents electronically by inputting their Internet banking details and relevant ID numbers into the system. If Wallet Wizard request further documentation from any applicant, that application will likely take somewhat longer to be processed.
This depends on when Wallet Wizard processes the application and transfers the cash. If someone is approved before 2:30pm Mon-Fri Sydney time, their loan will be sent on the same day. If it's approved afterward, it will be sent the following business day. Most major banks will process the funds in under an hour, but others may take up to three hours.
Wallet Wizard will set up automatic direct debits to help ensure customers can make their repayments on time. The payment dates will be set out in applicants loan contracts. Customers will also receive payment reminders via SMS and email three days before the repayments are due.
Customers are able to apply to top up their approved credit limit by logging into the member's area.
Bria Horne is a writer for Finder, with a specialist knowledge of personal loans, car loans and business loans. Originally from the UK, Bria has been a professional personal finance writer in Australia for over 2 years. She has an M.A and B.A in Philosophy and Literature from the University of Sussex, and previously worked on the UK’s leading hospitality publication.
These lenders won't complete a credit check when people apply for a loan, but there are other eligibility requirements that applicants must meet. Learn more here.
Need a loan but are worried you won't be approved? Before jumping the traditional bank ship and searching for a loan shark, find out how these "lenders" operate in Australia and why you should avoid them.
You may still be eligible for a loan if you receive Centrelink payments as part or even all of your income. These include loans from short-term lenders, banks and credit unions. Government and community financial assistance schemes are also available. Please refer to our list of Centrelink loans to compare your option.
Please send me a message if you need anything else. :)
Credit reporting agencies keep a record of your bankruptcy for 5 years from the date you became bankrupt or 2 years from when your bankruptcy ends, whichever is later so you may have to wait 6 months to get approved for traditional loans.
You may be able to get a loan if you are discharged bankrupt or even if you are currently bankrupt. Keep in mind you will be more limited in terms of the lenders you have to choose from and the fees and rates will also be considerably higher on bankrupt loans. You may also be required to attach an asset as security or apply with a guarantor. You may want to check our list of bankrupt loans to see what you might be eligible for. You can click the name of the lender which green checkmarks 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 if available 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.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
This loan can be applied for conveniently online. Take a look at the eligibility criteria and required documents before starting your application:
– You must be at least 18 years of age.
– You are able to apply if you have poor credit
Required information
– Bank details. Your BSB and account number are required to apply, or bank statements that cover the past 90 days.
– Identification. Two identification records are needed. These can be your driver’s license, Medicare card or passport number.
– Past records. Details of any credit contract you’ve repaid in the past 90 days are required.
– General information. General information like your name, date of birth, address, and employment status should be provided.
Wallet Wizard can provide an attractive choice for anyone who wishes to get some quick cash for short duration, just ensure you compare your options before submitting an application so you get the right loan for you.
I would like to apply for a personal loan for 3000 to assist with costs of moving house and purchase a car as my car is on its last legs. Cost of getting the car fixed more than what the car is worth. How do I go about this
If you are looking to apply with Wallet Wizard, you may apply online by going to their website. Before applying, please ensure that you meet all the eligibility criteria below and have the needed requirements.
Must be at least 18 years of age.
Must be an Australian citizen or permanent resident
Bank details. A BSB and account number is required to apply, or bank statements that cover the past 90 days.
Identification. Two identification records are needed. These can be a driver’s license, Medicare card or passport number.
Past records. Details of any credit contract repaid in the past 90 days is required.
General information. General information about the applicant, including their name, date of birth, address, and employment status should be provided.
Alternatively, you may compare other personal loan lenders. To help narrow down your options, please enter how much would you like to borrow followed by your preferred repayment term. Use our comparison table to help you find the right lender. 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.
Please ensure you review the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Thanks for reaching out to us. Please note that we are not affiliated with Wallet Wizard or any company we feature on our site and so we can only offer you general advice.
You can make use of the Personal Loan Repayment Calculator and also calculate how much you can borrow. If you are referring to Wallet Wizard Personal Loans, please contact them directly to inquire.
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Do you really need a loan today?*
I am on centerlink payments i need to borrow 600 can you help me
Hi Judy,
Thanks for leaving a question on Finder.
You may still be eligible for a loan if you receive Centrelink payments as part or even all of your income. These include loans from short-term lenders, banks and credit unions. Government and community financial assistance schemes are also available. Please refer to our list of Centrelink loans to compare your option.
Please send me a message if you need anything else. :)
Cheers,
Joel
i have been out of bankruptcy for 18 months, have no debts and have checked on credit with government agency.
i would like a loan of $5000 but cant get one from traditional lenders.
Can you help with this
Hi Allan,
Thanks for leaving a question on Finder.
Credit reporting agencies keep a record of your bankruptcy for 5 years from the date you became bankrupt or 2 years from when your bankruptcy ends, whichever is later so you may have to wait 6 months to get approved for traditional loans.
You may be able to get a loan if you are discharged bankrupt or even if you are currently bankrupt. Keep in mind you will be more limited in terms of the lenders you have to choose from and the fees and rates will also be considerably higher on bankrupt loans. You may also be required to attach an asset as security or apply with a guarantor. You may want to check our list of bankrupt loans to see what you might be eligible for. You can click the name of the lender which green checkmarks 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 if available 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.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Cheers,
Joel
Hi I just wanted to enquire about personal loans and situation requirements ect as I have never had to take out a loan before
Hi Van,
Thanks for leaving a question on finder.
This loan can be applied for conveniently online. Take a look at the eligibility criteria and required documents before starting your application:
– You must be at least 18 years of age.
– You are able to apply if you have poor credit
Required information
– Bank details. Your BSB and account number are required to apply, or bank statements that cover the past 90 days.
– Identification. Two identification records are needed. These can be your driver’s license, Medicare card or passport number.
– Past records. Details of any credit contract you’ve repaid in the past 90 days are required.
– General information. General information like your name, date of birth, address, and employment status should be provided.
Wallet Wizard can provide an attractive choice for anyone who wishes to get some quick cash for short duration, just ensure you compare your options before submitting an application so you get the right loan for you.
Cheers,
Joel
I would like to apply for a personal loan for 3000 to assist with costs of moving house and purchase a car as my car is on its last legs. Cost of getting the car fixed more than what the car is worth. How do I go about this
Hello Lee,
Thanks for reaching out to Finder.
If you are looking to apply with Wallet Wizard, you may apply online by going to their website. Before applying, please ensure that you meet all the eligibility criteria below and have the needed requirements.
Alternatively, you may compare other personal loan lenders. To help narrow down your options, please enter how much would you like to borrow followed by your preferred repayment term. Use our comparison table to help you find the right lender. 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.
Please ensure you review the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Cheers,
Gru
Hi, I was wondering if I got approved for a $5000 loan. What would be the repayment costs per month, please?
Hi Naomi,
Thanks for reaching out to us. Please note that we are not affiliated with Wallet Wizard or any company we feature on our site and so we can only offer you general advice.
You can make use of the Personal Loan Repayment Calculator and also calculate how much you can borrow. If you are referring to Wallet Wizard Personal Loans, please contact them directly to inquire.
Cheers,
Rench