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Wallet Wizard Smart Loan (Up to 2K)
Maximum loan amount
Turnaround time conditions apply
3 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 offers short term loans between $500 and $8,000. High charges and fees apply.

The Wallet Wizard Smart Loan works like a line of credit, with loan amounts ranging between $500 and $8,000. Loan terms are up to 2 years. While they offer longer repayment terms than most payday lenders, this loan is more expensive. They charge an interest rate of 47.8% p.a., and an ongoing service fee that is based on how often you make your repayments. Payday loans are an expensive form of finance and are not long-term financial solutions. You should only borrow in case of an emergency.


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


  • High interest rate
  • High rates and fees

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question


Product details

Product Name Wallet Wizard Smart Loan (Up to 2K)
Minimum loan amount $500
Maximum loan amount $2,000
Arrears Fee $10
Loan term Up to 2 years
Turnaround time 3 hours - conditions apply
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?

After checking that customers meet the eligibility criteria and can afford the repayments, they can apply for a Smart Loan from Wallet Wizard online. They can usually receive a response within a few minutes. If approved, the funds will be deposited in the nominated account within 60 minutes if applicants accept the contract by 2.30 pm Sydney time on a business day. If it's after this time, they can expect the funds within the next business day.

As customers use the funds, they can view the "available credit" in their online account. This is the difference between the credit limit and the current account balance. Repayments will line up with the borrower's pay cycle (for example, they may be required to make repayments weekly, fortnightly or monthly depending on how often they are paid). If they don't make a repayment on time, they will be charged a late fee. Once they have repaid the loan, they must contact Wallet Wizard to close the account.

Features of a Wallet Wizard Smart Loan

  • Repayments. Customers are required to make weekly, fortnightly or monthly payments (depending on the frequency of their pay and what they agree to in their contract) but they can make additional repayments if they wish. Customers will receive reminders via SMS or email within three days of the repayment due date and the funds are automatically debited from their account. If they miss a repayment, they will be charged a late fee and if they default on the loan, it will be listed on their credit report for up to five years.
  • Interest rate. Borrowers are charged an interest rate of 47.8% p.a.
  • Turnaround. The online application does not take long to complete, and once customers provide all the required information, Wallet Wizard’s loan engine goes through their credentials, works out a suitable loan amount, and presents them with a repayment plan. Unless Wallet Wizard requires additional information, they can expect an answer in minutes.
  • Service fee. Applicants will be charged an ongoing fee that is based on how often they make repayments. They can check their statement to see the minimum repayment that is due.

How to apply with Wallet Wizard

Customers can apply for the Wallet Wizard Smart Loan online if they meet the following eligibility requirements:

  • A permanent resident of Australia
  • Over 18 years old
  • Receive Centrelink payments
  • They can apply if they are a discharged bankrupt, they may be able to apply but will need to meet the other eligibility criteria

To complete the application, applicants will need to include the following information:

  • Their complete name, residential address, phone number, and date of birth
  • Two types of identification (such as driver's licence, Medicare card or passport number)
  • The BSB and bank account number for the account receiving the loan
  • Provide internet banking details or bank statements from the last 90 days
  • Confirm their annual income, employment status, ongoing expenses and any liabilities (such as existing loans or credit cards)

Short term loans are an expensive form of credit and shouldn't be treated as a long-term solution. They should only consider this line of credit if they meet the eligibility criteria and are sure they can afford to make the regular repayments.

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Elizabeth Finder

Lead Editor

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March 15, 2019

What is the best site/company for a small loan if I’m not a resident of Australia?


Mai Finder

March 16, 2019

Hi Moosa,

Thank you for leaving a comment.

There are different lenders who can allow non-Australian residents to get small loans. Although I may not be able to point out what is the best company as you may have a different preference when it comes to loans. You may refer to our list of personal loans for temporary residents and personal loans for migrants to compare your options.

You can also learn more about loans for non-residents. This page will guide you on what to expect and what to prepare if you’re a non-Australia resident and wish to apply for a loan.

Hope this helps! 😊 ​Please feel free to contact us back should you require further assistance.

Kind Regards,


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