Instant Cash Loans | Instant Loan up to $1600 | SpeedyMoney

We've changed our name to Quickcash!

When you apply or login from Speedymoney you will be directed to the Quickcash website and will be prompted to update your password. In future you can go either straight to Quickcash or via Speedymoney.

While we've changed our name, we've improved our online offering and increased our maximum loan to $2,000.

Thank you for your support and we apologise for any inconvenience caused.

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Instant Loans

So what do we exactly mean by the word “Instant” in relation to a cash loan? Well, compared to the old fashioned way of applying for a loan it may as well be instant! You still need to fill an our application form and submit 90 days of bank statement transactions, but it's all done online. No faxing or emailing of documents and definitely not having to front up at an interview! If you follow our online process, an application takes around 5 minutes and if submitted during business hours, we usually have paid your loan in under 60 minutes.

An instant loan is similar to a payday loan. Essentially it's a small loan with repayments that are aligned with the borrower's pay day. This is because the borrower is more likely to repay if the repayments are scheduled on that particular day compared to any other day. It stands to reason that if the lender can schedule an automatic debit to come out of the borrower's account on their payday, it takes the hassle out of having to budget or remember when a repayment falls due. 

Need an Instant Loan today?

SpeedyMoney is one of the newest providers of instant loans in the Australian market. We offer loans from $200-$1600, with a loan duration up to 61 days. While this is quite a short period of time, it doesn't preclude repeat borrowing. The reason is that the payday lender will generally lends more money once a borrower has established a history of repayment with them and that the process is so simple. At SpeedyMoney, we offer you a client login area where you can view existing loans and repayment dates, apply for new loans, amend your details and see your loan history.

Finding the right Instant cash Loan for you

When you have the answers to why you need a instant cash loan, how much you need, and how long you need it for, you are most of the way there to knowing what type of loan, and therefore which lender is best for you. Some lenders only provide online standardized amounts for short terms, whereas others will lend for longer period thus reducing your repayments.

Your source of income will also have an impact of which instant cash loan provider is appropriate for you. Centrelink benefits and pensions are considered a specialist segment within the instant cash loan industry and best dealt with by a specialist credit provider.

Your credit history will also be a factor.

At Speedymoney we look for customers that are employed, with a regular income, that can afford their repayments. We do not take on customers whose majority income is from centrelink and prefer a recent clean credit history. Our loans are from $200 to $1600 extended for up to 61 days or more, with the majority of loans provided to customers over a one month period.

What will a Speedymoney Instant cash Loan cost you?

It depends how much you borrow - A Speedymoney instant cash loan costs 4% per month or part thereof, with an establishment fee of 20% of the amount borrowed. So a $500 loan repaid over a month would cost $620 ($500 x 24%).

Most customers will look at the cost of their instant cash loan in terms of repayments, compare that against what they expect to be paid in the near term, and decide what is affordable for them. Using the example above, for a customer who is paid weekly, the cost of the loan is four repayments of $155 each.

If this loan was to stretch into the next month there would be another 4% fee to pay, and thus the calculation would be $500 x 28% = $640. Over four repayments this is a cost of $160 per repayment.

Provided all goes according to plan, and this is the case most of the time, there are no additional fees or charges on your instant cash loan. The important thing to remember is that if you miss a repayment, you can make it up straight away by making a direct deposit or card payment, thereby avoiding any additional costs.

Who uses Instant cash Loans?

Our Instant cash Loan customers all have regular incomes and earn more than $500 a week. Most customers are using instant cash loans to cover temporary cash shortfalls over the course of a month. Often customers tell us that they have been hit with two or three unexpected bills at the same time, there has been a change in their pay cycle for some reason, or it's a particularly busy or expensive time of year, say around Christmas and school holidays. And meeting repayments does not always go according to plan either. Generally we try to avoid levying fees where possible. This can be done by making part payments, or catching up on repayments, thus avoiding extending the term of the loan.

Sometimes we are asked if we do credit checks when assessing a loan application and the answer is yes, but not always. We check the credit file for first time borrowers, but if you are in need of any subsequent loans we do not always find it necessary to make further credit inquiries. The most important information that we collect regarding your application are your bank statements.

We use this information to assess whether you can afford to meet your repayments. We like to know that all our customers can afford to repay their instant cash loans on time. This helps us manage our business, and helps of customers avoid late payment and dishonour fees.

Repeat Instant cash Loan customers

Given the difficulties many face sourcing credit from banks and credit unions, it is not uncommon for instant cash loan customers to be repeat customers. Lenders become more comfortable providing instant cash loans to repeat customers who have established a track record of repayment. This may lead to larger amounts being lent, over longer periods. However at Speedymoney the emphasis remains on affordability. Just because you may have borrowed before, this does not make you exempt from providing your most recent banking history, bank account and employment details and an affordability analysis.

Other recent instant cash loans will have an impact on your borrowing capacity, and may pre-empt additional credit checking. it is important not to take on too much debt, no matter what your circumstances are, and investigate other cheaper alternatives, even if they are not as convenient.

At Speedymoney repeat customers are welcome to discuss various different options to structure your future repayment plan ahead of your instant cash loan application. Please remember that different payments plans need to be agreed upfront.

Instant cash Loans and your Credit File

Credit files are routinely reviewed during the application process for your first instant cash loan with Speedymoney. Bankruptcy, judgements, defaults, and credit inquiries are all taken into account in the decision to extend credit to a new customer. At Speedymoney we will not lend to customers who have record of bankruptcy or a magistrates court judgement against them.

Routinely we see customers who have several credit inquiries list on their credit file. These may be from other instant cash loans, personal loans, or secured loans (eg car loans). This does not count against your application, and demonstrates that you are aware of alternative credit products and understand how they work. However, we do look at how other loans have been used, and how heavily they have been relied on in the past.

A default on your credit file occurs when a debt has not been repaid. The most common defaults that we see are from utility and mobile phone companies. They remain on your file for 5 years, and whilst older defaults may not necessarily be an accurate depiction of your current financial circumstances, and your capacity to repay your current instant cash loan, recent defaults are and will result in a decline of your instant cash loan application.

Need a Speedymoney Instant cash Loan today?

SpeedyMoney is one of the newest providers of instant cash loans in the Australian market. We offer loans from $200-$1600 over a loan duration of up to 61 days. While this is quite a short period of time, it doesn't preclude repeat borrowing. In fact, repeat borrowing is the biggest source of loans for instant cash lenders.

The reason is that the online lender will generally lend more money once a borrower has established a history of repayment with them, and that the process is so simple. At SpeedyMoney, we offer you a client login area where you can view existing loans and repayment dates, apply for new loans, amend your details and see your loan history.

What happens if things go wrong?

To comply with our responsible lending obligations and to ensure you don't suffer any undue hardship we make certain inquiries about your financial situation before we give you a loan. However sometimes things don't go as planned and the result is a missed repayment. While we do have late payment fees, we are very willing to listen to you and often, especially if you've made contact, substantially reduce and even waive fees. If you do find yourself in this situation, please don't hesitate to contact us on 1300 271 902 or at

The information that you need to provide to Speedymoney

As discussed above, Speedymoney will verify your identity, in some cases check your credit file, and require the most recent 90 days of transaction history from the bank account into which your income is paid. You do not have to send us paper copies of your bank statements – the easiest way to supply this information is to automatically download it via our online application. It's secure, takes less than a minute, and will require your online banking user name and password.

If you have more than one bank account where you are paid income, you must provide 90 days of statements for each account. This information helps us assess the affordability of the repayments for the loan.

Other information may be required depending on your credit history, if there are or have been any other loan repayments, or your income has been irregular.

What if I am on Centrelink benefits?

If the majority of your income comes from Centrelink, we will not accept you for a loan. There are specific rules for customers in this category limiting the amount of repayments to 20% of your income, and there are specialist credit providers that service this demand.

Are there extra fees and charges?

There are extra fees if you do fail to pay back your loan including a failed repayment fee of $35 each time a repayment is dishonoured or re-scheduled; a $50 collection fee if we have to send your loan to an external collection agency; and all collection agency fees (currently those fees are 20% of the outstanding balance referred to the collection agency).

Importantly, failing to repay a loan may result in a credit default listed against your name. The default can last up to 5 years and can adversely affect your chances of obtaining credit in the future.