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

Pros

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

Cons

  • 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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141 Responses

  1. Default Gravatar
    JohnnyJune 23, 2018

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

    • finder Customer Care
      JoelJune 23, 2018Staff

      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

  2. Default Gravatar
    May 20, 2018

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

    • finder Customer Care
      JeniMay 20, 2018Staff

      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

  3. Default Gravatar
    RyanMay 6, 2018

    Can I pay a wallet wizard loan off early?

    • finder Customer Care
      JhezelynMay 7, 2018Staff

      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

  4. Default Gravatar
    RezaOctober 24, 2017

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

    • finder Customer Care
      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.

      Cheers,
      Anndy

  5. Default Gravatar
    SerenaOctober 24, 2017

    Will my detail’s be updated.

    • finder Customer Care
      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.

      Cheers,
      Joanne

  6. Default Gravatar
    ChrisSeptember 12, 2017

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

    • finder Customer Care
      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.

      Cheers,
      Rench

  7. finder Customer Care
    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.

    Cheers,
    Anndy

  8. Default Gravatar
    ColMay 2, 2017

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

    • finder Customer Care
      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.

      Cheers,
      Harold

  9. Default Gravatar
    PaulMarch 2, 2017

    What is the term of the loan

    • finder Customer Care
      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.

      Cheers,
      Anndy

    • Default Gravatar
      BradJanuary 26, 2018

      Do u get the money on weekends if approved?

    • finder Customer Care
      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.

      Cheers,
      Ash

  10. Default Gravatar
    TiffJanuary 4, 2017

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

    • finder Customer Care
      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.

      Cheers,
      Anndy

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