Cash Loans - Quick & Fast Loan Approval with 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.

How much do you want?

$200

$1600

Repayments:

Total Repayment:

Final Repayment:

Please Note: Calculator results are illustrative only.

Quick Cash Loans

SpeedyMoney is one of Australia's newest online providers of Quick Cash loans. To ensure the service we offer is world class, we scoured the globe to find the best possible systems to ensure you don't wait a minute longer than you need to to get your money. What's more, you can access SpeedyMoney's website via your desktop and mobile device 24/7. Our service is totally online right through to the approval process so don't wait a minute more, apply now!

Quick Cash Loans are deposited into your account within minutes of approval. Infact, quite often we find that collecting and verifying the applicant's financial data takes longer than actually transferring the funds. Depending on who you bank with, Quick Cash Loans can hit your account within minutes. Most major banks maintain it can take 2 - 4 business hours to credit a Quick Cash Loan transfer, however because we use the Commonwealth Bank ourselves, the funds are creditted to the customers' accounts straight away. Smaller regional banks and credit unions can take overnight, although we find customers use these accounts less often.

Need a Cash Loan today?

Sometimes you need cash quickly, you've hit your credit card limit and your pay doesn't arrive until next week. What do you do? Sure, you can ask friends and family for help but that can be awkward. That's where Speedymoney can help. We offer short-term loans from $200-$1600 for up to 61 days or more at affordable rates detailed below. A Quick Cash Loan repayment schedule often matches your pay cycle, meaning that the repayments are of equal amounts and are matched to the dates your receive your income. This keeps things simple and has the least impact on your budget cycle. Our Cash Loans are transparent and easy to manage, exactly how you want it to be. 

Cash Loans Compared

Fees amongst most Cash Loan providers in Australia vary very little. It is quite standard to find a 20% establishment fee and monthly fee of 4% per month, or part thereof, amongst most Cash Loan lenders. This fee structure is what is provided for under the current legislation, the National Consumer Credit Protection Act (NCCP).

However there are substantial differences in the ways that Cash Loan Lenders in Australia charge fees, the time periods they extend credit for, and in the way that they collect their repayments

If for some reason you dishonour a direct debit payment, you will be charged a fee by your Cash Loan lender, similar to dishonouring a payment at the bank. At Speedymoney the fee is $35 and this covers the associated bank fees, direct debit fees, and cost of rescheduling. If you successfully make your payment within 48 hours of the dishonour this fee will be waived. However other lenders will charge a daily "in arrears" dishonour fee. Although the lender may see this as an incentive for you to make payment, these fees can rapidly escalate, and so this fee structure should be avoided.

At Speedymoney your Cash Loan is collected in equal instalments on the day your salary hits your account and the direct debits attract a nominal fee. The aim is to keep the repayments manageable and affordable. Other lenders may elect to recoup larger payments upfront, and extend the loan over a longer period once the larger upfront payments are paid. This can result in a higher cost for the customer and should be avoided.

Cash Loan Responsible Lending

To comply with our responsible lending obligations, we check your financial situation to make sure you can afford it and don't suffer any undue hardship. We do however rely on the information you allow us to see, so it's important to be accurate with your application.

Our loans are available to you if you're a resident of Australia, over 18 years of age, you're employed and have a regular income stream. What's more, they're also affordable. Current legislation has placed a cap on the fees we can charge, so you're not going to wake up one day with a huge debt over your head. Our establishment fee is 20% and there is a monthly fee of 4%, and that's it. We debit your bank account directly on the scheduled date so you don't have to worry about taking time out to send a payment (There is a small transaction fee of $1.10 to do this). We also usually schedule it on the day you get paid, much like a payday loan, to ensure the funds are available. It also helps you budget as you know when the repayments are.

And remember if you are finding it difficult to meet your repayments, contact us as soon as you can so we can work out a plan that works for you. If you have any questions, please don't hesitate to contact us on 1300 271 902 or at customerservice@speedymoney.com.au.

What will a SpeedyMoney Cash Loan cost you?

It depends how much you borrow - A SpeedyMoney 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%). There is no APR calculation as our loans are fee based as specified under the National Consumer Credit Protection Act.

Most customers will look at the cost of their Quick 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% interest 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 Quick 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.

What happens if things go wrong with my Cash Loan?

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 atcustomerservice@speedymoney.com.au.

The information that you need to provide to Speedymoney for your Cash Loan

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 Cash 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 for a Cash Loan?

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.

We urge to contact us as soon as you can if you do suffer hardship. Sometimes it's difficult to make that call or send that email requesting hardship consideration but it can save you money and the inconvenience of a credit default. Contact us at customerservice@speedymoney.com.au.

How customers rate Speedy Money's Quick Cash Loans

Overall 4.90
7 reviews
  1. 5
    Great assistance
  2. 4
    I applied for the loan on a Sunday morning as I had a cash shortfall that week and had the money within a few hours
  3. 5
    I went on a small holiday with my family. It was fast and quick. Service was great as I was able to talk on the phone as I was at work.
  4. 5
    Found the service really quick and easy.
  5. 5
    Difficult to say at this point as I am a new customer however, so far so good!
  6. 5
    it good the way it is