Wallet Wizard Smart Loan Review

Apply for any amount between $500 and $5,000 and access your funds as a flexible line of credit. Bad credit and Centrelink considered.

If you're looking for a flexible way to access funds, consider Wallet Wizard's Smart Loan. It works like a line of credit, letting you access between $500 and $5,000 which you can use for whatever you need. Whenever you need to access your available credit, just login to the member's area to see if you're eligible to access your cash and even top up the amount.

Min Loan Amount$500
Max. Loan Amount$5,000
Loan TermUp to 2 years
Loan SecurityUnsecured
Arrears Fee$10
Turnaround Time24 hours
Costs47.8% APR
RequirementsYou must be an Australian citizen over the age 18 and have a steady income.
Application Fee$0


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


  • High interest rate
  • Permanent resident of Australia
  • Aged 18+
  • You can apply if you receive Centrelink payments
  • You can apply if you are a current or discharged bankrupt

How does a Smart Loan from Wallet Wizard work?

After you apply online you can find out if you've been approved quickly, usually within a few minutes. You can login to the member's area to check on the progress of your application. If you're approved you'll receive access to your credit limit usually within three hours. Once you start using your balance you'll notice your "available credit", which is the difference between your credit limit and the current account balance. The balance is what you owe Wallet Wizard.

Your repayments vary depending on the balance of your account, but you'll receive a reminder of your repayment three days before your repayments will be automatically direct debited from your account. You'll also receive a detailed statement and cost outline in your contract.

This is a continuing credit contract so unless you request to close the account it will remain open.

Features of a Wallet Wizard Smart Loan

While the Wallet Wizard Smart Loan comes with a number of features:

  • Repayments. You can make additional repayments at any time and you'll receive reminders via SMS and email three days before your repayments are due.
  • Automatic payments. You won't have to remember making repayments each time they are due, as they are debited from a nominated bank account automatically on your scheduled due dates.
  • Transparent interest rate. Wallet Wizard is transparent with its rates – you will be charged an interest rate of 47.8% p.a.
  • Apply for redraws and to top-up your loan. If you'd like to access more of your available credit limit or increase that amount, you can login to the online member's area at any time to do this.
  • Speedy approvals. The online application does not take long to complete, and once you provide all the required information, Wallet Wizard’s loan engine goes through your credentials, works out a suitable loan amount, and presents you with a repayment plan. Unless Wallet Wizard requires additional information, you can expect an answer in minutes.
  • Prepaid card. Access your approved funds more easily with the Wallet Wizard Visa Card. Once you're approved for and have made repayments on your Smart Loan you can order your card through the member's area.

How to apply with Wallet Wizard

To apply for a Wallet Wizard Smart Loan you have to submit an online application. Bear in mind you have to meet the following eligibility criteria to apply:

  • You are a permanent resident of Australia
  • You are over 18 years old
  • You can apply if you receive Centrelink payments
  • You can apply if you are a current or discharged bankrupt

To complete the application, you have to part with different kinds of information, which includes the following:

  • Your complete name, residential address, phone number, and date of birth
  • Details of your Australian passport, driver’s license, or Medicare card (any two)
  • Employment details
  • Financial details

The Wallet Wizard Smart Loan can address your need for quick access to funds, but take into account this is not the only loan of its kind, so it’s in your best interest to compare a few before applying.

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135 Responses

  1. Default Gravatar
    RezaOctober 24, 2017

    I’m currently under debt agreement, can i get loan?

    • Staff
      LouOctober 24, 2017Staff

      Hi Reza,

      Thanks for your question.

      Wallet Wizard may consider you for a loan even if you are currently on debt agreement. You could also compare other lenders that may consider you for a loan here.

      Kindly review the eligibility criteria and the terms and conditions of the loan before submitting your application.


  2. Default Gravatar
    SerenaOctober 24, 2017

    Will my detail’s be updated.

    • Staff
      JoanneOctober 24, 2017Staff

      Hi Serena,

      Thanks for reaching out.
      If you mean details of your application, after you apply online you can find out if you have been approved quickly and it usually would only take a few minutes. You can login to the member’s area to check on the progress of your application.


  3. Default Gravatar
    ChrisSeptember 12, 2017

    I have a loan with you can I increase that to the maximum

    • Staff
      RenchSeptember 12, 2017Staff

      Hi Chris,

      Thanks for reaching out to us.

      Please refer to this page to check and compare personal loans rates and policy that is best suit to your needs. You may click the name of your preferred insurance company to know more details and you may click the green “Go to site” button to submit an online application through their official site.

      Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      I hope this helps.


  4. Staff
    LouMay 3, 2017Staff

    Hi Col,

    Thanks for your question.

    If you already have an account with Wallet Wizard, you can easily check the total amount available to you for redraw when you log in to your Wallet Wizard account online.


  5. Default Gravatar
    ColMay 2, 2017

    When applied For a redraw how much can u get if u have not missed any repayments?

    • Staff
      HaroldMay 3, 2017Staff

      Hi Col,

      Thank you for your inquiry.

      If you’d like to access more of your available credit limit or increase that amount, you can login to the online member’s area at any time to do this.

      I hope this information has helped.


  6. Default Gravatar
    PaulMarch 2, 2017

    What is the term of the loan

    • Staff
      LouMarch 2, 2017Staff

      Hi Paul,

      Thanks for your question.

      The maximum loan term for Wallet Wizard is 60 weeks.

      You may also check this page to compare other short term loans.


    • Default Gravatar
      BradJanuary 26, 2018

      Do u get the money on weekends if approved?

    • Staff
      AshFebruary 16, 2018Staff

      Hello Brad,

      Thank you for reaching out to finder.

      Wallet Wizard only releases funds during business days and before 2:30 PM (Sydney Time), so if your loan is approved on a weekend, your funds will be deposited the next business day.

      Just to have an idea on the turn around time, once your loan is approved, Wallet Wizard will usually process the transfer of funds immediately and it will get into your bank account after 1 to 3 hours in some cases. You’d need to check with Wallet Wizard directly in case your funds did not reflect in your account after the given time frame.

      I hope this helps.

      Please do not hesitate to reach out to us again if you have additional questions.


  7. Default Gravatar
    TiffJanuary 4, 2017

    So I’m trying to apply online, but the website won’t let me submit.. why..??

    • Staff
      LouJanuary 4, 2017Staff

      Hi Tiff,

      Thanks for your question.

      The Wallet Wizard is working fine on my end. Please refresh your browser and try again. If you can’t get through, you may want to directly get in touch with Wallet Wizard on 1300 925 538 so they can assist you.

      Alternatively, you may want to check this page for other short-term loans.


  8. Default Gravatar
    January 2, 2017

    Does wallet wizard approve loans on a public holiday? It’s saying they have to get more info so it may take five more minutes but I’ve been waiting for ages and I’ve tried calling and it says it’s shut today. Just wondering if they still approve on public holidays.

    • Staff
      LouJanuary 2, 2017Staff

      Hi Melanie,

      Thanks for your question.

      Wallet Wizard business hours is from 8am – 8pm Monday to Friday and 8am – 4.30pm Saturday. If you want immediate attention to your application, please do submit your application during these times.


  9. Default Gravatar
    DanielDecember 29, 2016

    I applied for a loan yesterday afternoon and am still awaiting the next day 1pm for word back. Definitely not as fast as they say it is I’m really thinking about hitting up nimble as I need the money today

    • Staff
      LouDecember 29, 2016Staff

      Hi Daniel,

      Thanks for reaching out.

      Unless Wallet Wizard requires you other documents, you should be able to get your funds within an hour after approval. You may want to verify the status of your application by calling them directly.

      Alternatively, there are other fast cash loans listed here for your emergency borrowing needs.


  10. Default Gravatar
    NikkiNovember 28, 2016

    Hi, I have been with wallet wizard since beginning of year, always paid on time , but when i applied today for an increase (only from $500 to $700) they declined, saying my situation had changed and they believed i had financial difficulty. the funny part is my circumstances have improved and i now earn more money. I rang twice only to get the same answer, that it’s automatically generated message that everyone gets if they feel you are not eligible for more money , and now it won’t even let me draw on my available funds that it said I could access this morning. No one was even willing to look at my account or ask further questions. I’ve always been happy with my loan and the repayments, but i am very disappointed with the customer service over the phone. has anyone else had this problem?

    • Staff
      MayNovember 28, 2016Staff

      Hi Nikki,

      Thanks for your comment and I’m sorry to hear about your negative experience.

      Although we may not be able to tell what would be the reason behind why Wallet Wizard has declined your application, you may still log-in to the Members’ Area and apply again to see if you qualify.

      Meantime, if you want to check other lenders that offer a small loan from $100-$2000, please visit this page to compare your options.

      Hope this helps.


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