The concept of paypal casino has gained immense popularity around the world. Australia is not an exception. The demand for such short-term loans is rising here, as well. Based on global statistics, such loans are popular because people often need extra funds for some vital spendings. As the process of taking money from banks may turn into a long-lasting procedure, quick online pay day loans and the best online sots with free spins have a lot of benefits.
Imagine that you are in a difficult situation. For example, your bike got broken, you need to repair a car or to pay a bill in a hospital. In addition to all these circumstances, you managed to increase your credit limit this month and don’t have any savings from previous salaries. The best way out of this tight fix is to apply for a payday loan. Companies who are giving loans can save you within 24 hours and prolong a period of giving money back when it is necessary. So, such a solution sounds great, and many people have already tried how it works in practice.
So, a pay day loan is an online option to get some money until the next salary with various benefits:
- ability to apply for a secured loan online;
- a real chance to get money quickly;
- the best solution to cover foreseen and unforeseen expenses.
You should take this service into account when you are sure that you will be able to return a borrowed amount on time scheduled by the company. It is possible to take a loan for a couple of weeks or prolong it for one month or even longer. Based on Australian law, you have at least 15 days to return the money. In this way, you are protected, and your loans are not limited in time.
The loan amount is small enough, usually not more than $2,000, depending on the lender and your salary after taxes. A payday loan is intended to provide emergency cash that will help you until your next paycheck. However, fees for these types of loans are often high and regulated by the Unified Consumer Credit Code, drawn up by the Australian Securities and Investment Commission.
Specifics of Payday Loan
The process of payday loan application is very easy to follow. Moreover, it is fast enough. It means that you are free from signing a ton of paperwork, and your credit history is not taken into consideration even if it is bad. In reality, the application for this service doesn’t obligate you to take credit. The steps of getting instant payday loans are the following:
- Visit the lender’s website and find the application form.
- Fill in the form, including name, income, and banking account details.
- Sit and wait for the decision. In practice, this won’t take more than several hours.
- Get the loan transferred to your verified bank account just after you get approval.
All the steps are straightforward, so you may forget about such a tedious process of getting money to resolve some emergencies.
How Payday Loan Differs from Other Types of Loans?
Firstly, so-called salary loans are provided by creditors or financial companies that offer clients cash without requesting their credit history or certificates. In addition, everyone has an opportunity to apply for it regardless of a credit card. It means that when your credit rating is poor, payday lenders can still give you some funds. This is the benefit for people who can’t save something from the previous salary.
The loan amount is small if to compare with various other types. It is allowed to request $200; however, the maximum possible amount is limited to $2,000 for most lenders. Interestingly that people ask for this type of crediting more often despite the high fees in case of delay with the repayment. It means the faster you repay a debt, the less you will have to give in the end. Redemption is made in the form of direct debit from your account or deduction from your salary on the next day of payment. Therefore, when you are filling the application form, you need to indicate your primary source of income, which should be regular.
Eligibility Requirements for Payday Loans
The lender mostly sets eligibility, but it is necessary to check all the requirements before you apply for the payday loans online. For the creditor, it is important to know that you have an opportunity to return a borrowed amount. In this way, you can also protect yourself from situations when you risk to ruin your budget and get into more serious difficulties. The list of general requirements is given below:
- An applicant should be at least 18 years old and be responsible for the personal financial situation. Still, it doesn’t matter whether you are 18 or 55; you have all the chances to get approval of the pay day loans.
- Make sure you have a regular income. Usually, lenders check the information concerning the salary, so be ready for this type of verification. The amount you are applying for should be around 20% of your wages.
- Be ready to provide a bank statement for the last 90 days. As for regular credits, bank history is important. If you have several bank accounts, prepare a history on each of them. This will help your loan provider to make a decision much faster and in your turn.
- You have more chances to get approval if you are an Australian citizen, legal resident, or have immigration status.
- Some lenders require a Medicare number and a home address for verification.
- Make sure you have an active Australian bank account. The card should be ready for direct deposit and withdrawal of funds.
- Indicate a valid e-mail and phone number. You will get a notification about the status of your application for payday loan on e-mail or by phone.
- You may be asked to indicate some people with whom you are in touch. They should be ready to confirm your ability to repay the debt.
This is a full list of requirements. Please, read them carefully once again and make sure you can provide all the information listed above. Unfortunately, even if you indicate all the necessary data, your application still can be declined. The main advance here is to start with a smaller amount. If $200 is not exactly what you need, you may try to raise this amount.
There are some unique cases when lenders need some additional information for verification. This may include checks of your credit card, as they must sure you will be able to repay the loan on time.
Pay attention that after you applied for payday loans Australia and got approval by Moneyconnect24, you can’t request for the second loan as it is illegal.
Safe Instant Payday Loans Are Obtained Here
You should agree that it is pretty hard to predict all the life circumstances. You are not safe from situations when you may urgently need some money to repair your house or car or to pay for the hospital where your baby stays. For such cases, there are guaranteed payday loans that help people to survive until the next monthly salary. This money will definitely help in situations when you have no funds at all and don’t have time to visit banks. With the help of the Internet, you fill in the application form and get the money you were asking for within one business day.
The procedure is very safe as lenders are interested in satisfying your needs and obtaining one more regular client. If you have any doubts concerning the service you are about to use, try to find customer reviews about it. A trusted lender works under the license and won’t cheat you for the money.
As an example, Moneyconnect24 operates under Australia regulations and follows all the rules. This is one of the best payday loans Australia that is ready to support you in various life situations. Even in case you somehow sent us more money than it’s needed, our accountants will send you the rest back on your bank account. It means that a client of this service is treated as the best friend who is in need.
The basic procedure of getting a payday loan includes the following steps:
- check the company website as for the payday loans conditions and fees;
- fill in the application form with your personal information;
- read the document you filled once again and send it for approval;
- wait for the response within 24 hours;
- receive your money on a bank account with a regular bank transfer.
Moneyconnect24 will do its best to examine your application as soon as possible and will decide whether you are a trusted borrower or not. In case of a positive decision, you will get your money deposited to a bank account you’ve mentioned in the form. In addition, you will get an e-mail, which states that your request was approved. Remember that a trusted lender will never ask you for the reasons why you need the funds and how you are planning to spend them. We are interested in helping you and getting our money back within the mentioned period. If you decide to choose another company, make sure that you are not getting into the hands of frauds.
How Much Does It Take to Get a Payday Loan?
Payday loans are expensive enough, but the government limits fees. It means that the government of Australia is interested in protecting you from getting into bad financial situations. So, charges shouldn’t exceed more than 20% of the overall loan amount. Also, monthly maintenance of the account should be 4% max. Additional fees are also present, but they are activated just after you delayed with a loan payment. So, be attentive and read all the conditions in advance. Also, try to avoid fraud companies that approve your request quickly, but apply additional fees that might turn to be equal to the loan amount.
What Are the Cheapest Payday Loans?
At Moneyconnect24, we offer our clients the cheapest payday loans. If you are not sure that this information is accurate, try to find websites that give a comparison chart. There you can find information about several popular lenders and their fees compared. It would be nice to check before you start the process of application.
As it was already mentioned, Australian law guarantees that lenders should not charge any interest on a loan other than their fees and % for monthly maintenance of the account. Thus, comparing the cost of several payday loan lenders, you should be primarily interested in the total amount of the credit. Remember that lenders cannot require you to pay more than 24% of the total amount you borrowed.
What Are the Risks and Benefits Associated with Payday Loans Online?
As with any other credit, it is necessary to research and check feedbacks as for this or that company. Be aware that you should know the full amount you will have to return by the set date. Usually, payday loans are given for short periods, and the risks are not too high. You will avoid possible problems if you pay for the loan within the set timeline.
Benefits of payday loans in Australia are the following:
- These credits are quick and easy to get.
- With payday loans no credit checks are needed.
- The amount is limited in between $200 and $2000.
- There is no need to visit a bank.
- You can fill the needed documents at home.
- Instant feedback as to the status of your request.
- A payday loan is the best solution that will help you to solve your financial problems.
Is It Possible to Postpone a Payment Date?
At Moneyconnect24, we eager to help our clients and offer a chance to postpone the payment. Moreover, this won’t affect your credit history and limits as to the amounts you may want to take in the future. We have a client support team, whose experts will listen to you and will try to offer the best solution. The only note here is that it is necessary to think about the prolongation period in advance and not the day when you already missed the payment. The next morning after the fixed date of repayment, we usually pass information to banks for payment processing, so be aware of this in advance, and don’t forget to inform us about your case a bit earlier.
What If a Client Can’t Make a Repayment of a Pay Day Loan?
In case of unexpected situations, when clients are not able to repay the payday loan on time, lenders try to get into the case. Moneyconnect24 is always on the client’s side, remember this fact. The default interest rate is not included, so your rating won’t be affected. There are situations when you can’t make a payment technically. In this case, it is necessary to contact our support team, and the specialists will be glad to resolve the issues that occurred. Still, try to reach us in advance, till the payment terms are missed. Otherwise, if a lender does not hear back from you, your debt can be transferred to a collector. In this case, you will be charged extra fees. Usually, lenders publish a payment table on their websites. It will help you not to miss the next payment date.
All You Need to Know About Moneyconnect24
We are a trustworthy company that offers payday loans to Australians who are in urgent need of money. As we operate under the Australian Credit License, we always try to please our clients with quick responses, but for this, you need to present all the required information.
We understand that sometimes, it is too tempting to apply for instant approval loans, especially in cases when you need money today or tomorrow. That’s why the service we offer is beneficial for people who need some funds until their next salary.
The loan status is sent within a couple of hours after we get an application from clients. Thanks to our professionalism, we have a database of happy users, ready to share their opinion with people who are still thinking about payday loans Australia.
Benefits of Moneyconnect24 Pay Day Loans
- No hidden fees. All the conditions of payday loans are available on the website, and you can check them in advance. The decision to apply can be made only after you read the rules.
- Bank credit history doesn’t make sense. Even if you apply for a payday loan at Moneyconnect24, this won’t affect your credit rating.
- You can get bonuses if you have a positive credit history within a company and repay all the loans on time.
- Security of personal information. Your personal information is your personal information. We always keep it secret and do not share it with any other institutions.
- Fast processing of application forms. Be ready to get an instant decision just after you submit and send the request.
- Direct money deposits. You will need to wait only one business day till the money you were asking for will get to your bank account.