Wallet Wizard Smart Loan Review

Information verified correct on October 24th, 2016

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 and $5,000 and use the funds 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.

Product NameWallet Wizard Smart Loan
Min Loan Amount$500
Max. Loan Amount$5,000
Interest Rate (p.a.)From 39.95% (fixed)
Arrears Fee$10
Turnaround Time24 hours
RequirementsYou must be an Australian citizen over the age 18 and have a steady income.
Application Fee$45

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, as listed below:

  • 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 39.95% 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 repayment plans. 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.
  • Service fee. You'll be charged an ongoing fee that is based on how often you make repayments. You can check your statement to see the minimum repayment that is due.

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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110 Responses to Wallet Wizard Smart Loan Review

  1. Default Gravatar
    Samantha | October 23, 2016

    I am not happy with the customer service I have tried for weeks to contact someone to help me pay off my loan sooner an I have rudely been ignored. I sat on the phone on one occasion for 2 hours. It’s so disrespectful. I have never missed a payment.

    • Staff
      Elizabeth | October 24, 2016

      Hi Samantha,

      Thanks for your question and sorry to hear about your experience. You can submit a complaint to Wallet Wizard on its website. If you feel that, after submitting the complaint, the issue isn’t resolved then you can submit a complaint with the credit ombudsmen.

      I hope this helps,


  2. Default Gravatar
    James | October 18, 2016

    Why is Wallet Wizard miss leading people/deceitful. They approved my first load. And twice since then they have offered me a top load and a on the second time said I was eligible to apply for up to $5000. And both times they decided to become indian givers/renig disapprove my application. Oh and Veda should not take points from people just for applying. I should drag Wallet Wizard and Veda through court and sue there mongrel arses. What do you think? I have an appointment with a Lawyer.

    • Staff
      Elizabeth | October 18, 2016

      Hi James,

      So sorry you had a bad experience with Wallet Wizard. If you’re unhappy with its conduct you should contact Wallet Wizard first to talk to their dispute resolution team. If you aren’t satisfied with the outcome of that process you can submit a complaint to the Credit Ombudsmen.

      I hope this information helps,


  3. Default Gravatar
    yarla2 | October 17, 2016

    Website says 2-3 hours, I accepted the contract 9:30 am it’s now 11:50pm what is going on

    • Staff
      Elizabeth | October 18, 2016

      Hi Yarla2,

      There may have been some delay in getting your loan to you, but it would be best to contact Wallet Wizard directly to check on the status of your loan.

      Sorry I couldn’t be of more assistance,


  4. Default Gravatar
    Jessica | October 15, 2016

    I was approved for a loan today. When will the money be available seeing as it’s a Saturday??

    • Staff
      Elizabeth | October 17, 2016

      Hi Jessica,

      The loan should be funded the next business day (Monday).

      Hope this helps,


  5. Default Gravatar
    Sarah | September 26, 2016

    Once has been approved i can pay it as early as possible?

    • Staff
      Elizabeth | September 26, 2016

      Hi Sarah,

      Yes, you can make additional repayments whenever you want to pay off your balance faster.

      Hope this helps,


  6. Default Gravatar
    Champ | September 15, 2016

    Trying to contact them on the number on the website however it just comes up busy every time i call???

    • Staff
      Elizabeth | September 15, 2016

      Hi Champ,

      Unfortunately we only have the customer service number listed on its site. However, you can also try contacting them by email: hello@walletwizard.com.au

      I hope this helps,


  7. Default Gravatar
    Icha | September 12, 2016

    Hello ,

    Just curiosity Im living n working in Perth,Australia and want to borrow $5000 for my wedding in overseas..
    And I’m in temporary permanent resident so is it still possible to borrow from wallet wizard?

    Thank you,

    • Staff
      Elizabeth | September 13, 2016

      Hi Icha,

      Unfortunately only permanent Australian residents can apply for a loan from Wallet Wizard. You can compare your other options on this page.

      Hope this helps,


  8. Default Gravatar
    Tones | August 3, 2016

    Could you tell me how much you can loan on the wallet wizard visa card. I have a smart loan with wallet wizard currently.

    • Staff
      May | August 4, 2016

      Hi Tones,

      Thanks for your inquiry.

      With Wallet Wizard Smart Loan, the minimum amount you can loan is $500 and max is $5,000. Once approved, you can access your funds easily with the Wallet Wizard Visa Card.


    • Default Gravatar
      Tones | August 4, 2016

      Thankyou for your response, I already have a smart loan with Wallet wizard am I able to apply for another loan to be loaded onto the visa card

    • Staff
      May | August 5, 2016

      Hi Tones,

      Thanks for your reply.

      If you want to know if you can apply for another Smart Loan, you’d be best to log into the Wallet Wizard Members’ Area to see if you’re eligible.


  9. Default Gravatar
    Tate | July 24, 2016

    Are you able to apply to increase your credit limit early?

    • Staff
      Matt | July 25, 2016

      Hi There,

      Thanks for your comment. Wallet Wizard allow redraws but your available credit must be $500 or 25% of your Credit Limit. It is always a good idea to show a history of repayments on time and comparing your options before applying for any form of credit.

      It may be best to speak to Wallet Wizard directly.


  10. Default Gravatar
    | July 22, 2016

    Hi I have some debts that I need to pay off and buy furniture for my home I have looking for at least $50,000 is it possible my credit rating is pretty good and have steady job
    if approved how much would me monthly payments and for how many years would the loan terms be.


    • Staff
      May | July 25, 2016

      Hi Faizan,

      Thanks for your inquiry. Please note that you’ve come through to finder.com.au – we are a financial comparison website and general information service, we are not a representative of Wallet Wizard or any lender featured on our site.

      If you are considering to get a personal loan from Wallet Wizard, please contact them directly and discuss your loan options with them. However, please note that the maximum amount you can possibly get from Wallet Wizard is $5,000.

      If you want to find which lenders offer a $50,000 loan, please feel free to visit this page and compare your options. Once you’ve found a loan you wish to apply for, please click on the ‘Go to site’ button to be redirected to the lender’s website.

      Hope this has helped.


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