Wallet Wizard Small Cash Loan Review

Do you need $2,000 in a hurry? With a Wallet Wizard Small Cash Loan, you get repayment flexibility and a transparent fee structure.

The Wallet Wizard Small Cash Loan lets borrow any amount between $100 and $2,000. Upon the approval of your loan, Wallet Wizard gives you different repayment schedules from which to choose, so you can go with one that suits you best. What helps is that you can apply for the Wallet Wizard Small Cash Loan even if you have bad credit.

If you choose to take this loan you don’t have to worry about any kind of hidden fees and costs, because all the charges are laid out clearly before you apply. All borrowers have to pay application fees and monthly account-keeping fees, which are outlined on the page below.

Compare Other Payday Loans

As this loan is no longer in market, here are some other loans that are similar.

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Name	Product	Max. Loan Amount	Term of Loan	Turnaround Time	Costs	Product Description
Sunshine Short Term Loans		$2,000	9 weeks	30 Minutes - conditions apply	20% of loan amount + 4% of loan amount each month	Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Family Business since 1999.	Go to site More	Compare	loading Fetching your data...
Nimble Short Term Loan		$2,000	62 days to 1 year	1 hour - conditions apply*	20% of loan amount + 4% of loan amount each month	Apply for a short term loan and you could borrow up to $2,000	Go to site More	Compare	loading Fetching your data...
Wallet Wizard Smart Loan (Up to 2K)		$2,000	Up to 2 years	24 hours	47.8% APR	Apply for up to $2,000 as a convenient line of credit.	Go to site More	Compare	loading Fetching your data...
Ferratum Cash Loans		$1,900	Up to 6 mths	Same Day if approved	20% of borrowed amount + 4% of borrowed amount each month	A small loan from Ferratum lets you borrow up to $1,900 without a credit check	Go to site More	Compare	loading Fetching your data...
Cash Train Loans		$2,000	10 weeks or 3 months	1 Business Day	20% of principal amount (establishment fee) + 4% monthly charge	Apply for a Cash Train loan and get up to $2,000 sent straight to your bank account. Fast online application	Go to site More	Compare	loading Fetching your data...

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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.

How do Wallet Wizard loans work?

How these loans work is relatively straightforward. You start by applying for any amount in between $100 and $2,000, and the loan term depends on the amount you wish to borrow. You can apply for this loan online, and the process takes no more than a few minutes.

You find out the status of your application soon after applying, and the next step is the disbursement of funds from Wallet Wizard. You can receive the funds in your nominated account within an hour from approval, although this depends on the time you accept your contract.

Your repayment frequency takes your salary schedule into account, so your repayments remain timely. You can choose to pay the balance before schedule without worrying about prepayment penalties.

Features of a Small Cash Loan from Wallet Wizard

The Wallet Wizard Small Cash Loan comes with a number of features, and here’s what you can expect:

• Repayment flexibility. Repayments are set up according to when you get paid, making it easier to manage and budget your repayments.
• Automatic repayments. You don’t have to worry about remembering making repayments towards your loan. Repayments come in via automatic direct debits through a nominated account on the day they’re due.
• Flexible loan terms. Unlike a standard payday loan, this loans doesn't come with extremely short loan terms, so you don’t have to worry about making large payments. For up to $600, loan terms can vary in between four months and six months, if you’re borrowing in between $600 and $1,200, loan terms can extend up to nine months, and for loan amounts between $1,200 and $2,000, loan term varies in between six and 12 months.
• Maximum fee guarantee. Just how much you end up paying as fees depends on how much you borrow and your loan term, but Wallet Wizard guarantees that fees will never exceed 100% of the amount you borrow. This is for no matter how long the loan term is.
• No early termination penalty. If you run into some money and want to pay the loan off ahead of time you can do so easily, and you don’t have to pay any early termination fees.

Fees and charges

Take just about any kind of loan and you’ll have to end up paying some kind of fees and charges, and the Wallet Wizard Small Cash Loan is no different. One advantage is that this loan does not attract any early repayment fees. Details about other fees and charges it attracts are as follows:

• Application fee: 20% of the sum you borrow
• Monthly account keeping fee: 2% of the sum you borrow
• Printed statement fee: $0
• Reprinted statement fee: $0
• Late payment fee: $0 if you contact Wallet Wizard before the due date to make suitable arrangements. If not, $10.

How to apply for a Small Loan from Wallet Wizard

Applying for a Wallet Wizard Small Cash Loan is easy, and you can complete the process in around 10 to 15 minutes. You can apply online, but before you begin, make sure you meet the following eligibility criteria:

• You’re at least 18 years old
• You’re a permanent Australian resident

To complete the application, you have to provide different kinds of information, details of which are as follows.

• Personal information like your name, date of birth, and contact details
• Details from your Australian driver’s license, passport or Medicare card (you’ll have to choose two)
• Your employment details
• Information regarding your finances and current loan commitments
• Your Internet banking details or your bank statements from the last 90 days
• Your BSB and account number
• Details of any credit contract you've repaid in the last 90 days

If you need money in a hurry, and not too much, you can consider applying for the Wallet Wizard Small Cash Loan, but since there are other similar personal loans out there, make sure you compare a few before deciding.