Wallet Wizard Smart Loan Review

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Apply between $500 and $5,000 and access your funds as a line of credit.

Wallet Wizard's Smart Loan like a line of credit, letting you access between $500 and $5,000. Whenever you need your available credit, just login to the member's area to see if you're eligible to access it.

$5,000

Maximum loan amount

24 hours

Turnaround time

$316.7

Fortnightly repayment
for $1,500 loan

Up to 2 years

Term of loan

Details

Product NameWallet Wizard Smart Loan
Minimum Loan Amount$500
Maximum Loan Amount$5,000
Arrears Fee$10
Loan TermUp to 2 years
Turnaround time24 hours
Costs47.8%
RequirementsYou must be an Australian citizen over the age 18 and have a steady income.
Available to Centrelink Borrowers?Yes

How does a Smart Loan from Wallet Wizard work?

Applying for a Wallet Wizard Smart Loan takes a few minutes and can be completed online. There is a member's area that allows you to check the progress of an 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. A reminder of your repayment will be sent three days before they 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 the following:

  • 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. Repayments are debited from a nominated bank account automatically on your scheduled due dates.
  • 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 much will a Wallet Wizard Smart Loan cost?

You will be charged an interest rate of 47.8%.

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.

⚠️ 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.

Financial hardship

If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the Financial Counsellors hotline on 1800 007 007. It is open from 9:30am to 4pm, Monday to Friday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged. It's important to weigh up all your options before applying for any form of credit.

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145 Comments

  1. Default Gravatar
    Anthony
    August 13, 2018

    Can I apply for a credit increase of $5000 for a holiday that I can afford the repayment?

    • AvatarStaff
      Jhez
      August 13, 2018

      Hello Anthony,

      Thank you for your comment.

      Please note that the amount you will be approved of depends on your credit assessment. The lender will decide. To know if you can apply for a credit increase, it’s best that you directly get in touch with Wallet Wizard so they can check it for you.

      Alternatively, since you mentioned that it’s for a holiday, you may want to compare holiday loans products. Please note that every lender has it’s own lending criteria that you must meet to be approved. Best to check your eligibility before submitting an application. To apply for one of the holiday loan products. You may please click the Go to Site button of your preferred loan product.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  2. Default Gravatar
    Johnny
    June 23, 2018

    Is there any chance of receiving funds in my account tonight?

    • Default Gravatar
      Joel
      June 23, 2018

      HI Johnny,

      Thanks for leaving a question on 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.

      Cheers,
      Joel

    • Default Gravatar
      Kahlee
      September 17, 2018

      Hi there! I got approved for a loan threw wallet wizard on Saturday, I start paying then every fortnight starting next fortnight but I still haven’t received my funds in my account and I just want to no when it will be in my account? Can someone help me?

    • AvatarStaff
      Jhez
      September 17, 2018

      Hello Kahlee,

      Thank you for your comment.

      Usually, when you’re approved for a loan, the funds should be deposited to your account within 24 hours. So since the funds are not deposited to your account yet, you may need to contact Wallet Wizard to follow this up.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  3. Default Gravatar
    Col
    May 20, 2018

    I put wrong acc number on application. How do i change it after letter of offer

    • AvatarStaff
      Jeni
      May 20, 2018

      Hi Col,

      Thank you for getting in touch with finder.

      As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

      If you have received the letter of offer from them, I suggest that you contact Wallet Wizard directly as soon as possible to update some info you have given them. You may reach them at 1300 925 538.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  4. Default Gravatar
    Ryan
    May 6, 2018

    Can I pay a wallet wizard loan off early?

    • AvatarStaff
      Jhez
      May 7, 2018

      Hello Ryan,

      Thank you for your comment.

      Because Wallet Wizzard allows you to make additional repayments at any time, it means that it’s possible that you can pay your loan off early. You may check with them and see the repayment plan that will suit you.

      Regards,
      Jhezelyn

  5. Default Gravatar
    Reza
    October 24, 2017

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

    • AvatarStaff
      Dee
      October 24, 2017

      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.

      Cheers,
      Anndy

  6. Default Gravatar
    Serena
    October 24, 2017

    Will my detail’s be updated.

    • AvatarStaff
      Joanne
      October 24, 2017

      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.

      Cheers,
      Joanne

  7. Default Gravatar
    Chris
    September 12, 2017

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

    • AvatarStaff
      Rench
      September 12, 2017

      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.

      Cheers,
      Rench

  8. AvatarStaff
    Dee
    May 3, 2017

    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.

    Cheers,
    Anndy

  9. Default Gravatar
    Col
    May 2, 2017

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

    • AvatarStaff
      Harold
      May 3, 2017

      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.

      Cheers,
      Harold

  10. Default Gravatar
    Paul
    March 2, 2017

    What is the term of the loan

    • AvatarStaff
      Dee
      March 2, 2017

      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.

      Cheers,
      Anndy

    • Default Gravatar
      Brad
      January 26, 2018

      Do u get the money on weekends if approved?

    • Default Gravatar
      Ash Munoz
      February 16, 2018

      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.

      Cheers,
      Ash

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