FAQ

• How much can I borrow?

  My Cash Online, we offer loans from $2001 to $10,000 to help with all kinds of expenses including car repairs, medical bills, bond, dental work, travel and vet fee etc…

  Applying is simple and we help you work out how much you can afford to borrow. Repayments can be scheduled to suit you and generally occur weekly, fortnightly or monthly.

• Who qualifies?

  18 years of age

  Have online access to a bank account showing a minimum of 90days income

  Be an Australian Citizen or Permanent Resident

  Have a mobile number & email address

  Have Stable income

• What documents are required to apply?

  As a responsible lender, we need to verify your identity and be confident that you can comfortably meet the loan repayments and that the loan is ‘not unsuitable’.

  With your approval, we will obtain your 90days bank statements from our authorised provider and carry out a credit check. We may request further documentation such as your photo ID, Centrelink statement to be part of our assessment process.

• How do I apply?

  Click on Apply now.

  For Small Cash Loans , our process is fast. You

  1. Choose your amount from $2001 to $2000, our smart tech will work out a loan payment structure and loan term for you to select.

  2. We verify the details you have provided and quickly get back to you.

  3. When approved and we accept your offer, we transfer the money to you.

• Fees and charges

  Small Amount Loans

  Establishment fee is 20% of loan amount.

  Monthly fee is 4% of loan amount.

  A default fee of $27 will be charged each time you fail to make your scheduled payment. We will reattempt the repayment twice each payment cycle.

  There are no penalties for paying your loan out early.

  Medium Amount Loans

  Establishment fee $400.

  Monthly fee is 4% of loan amount.

  A default fee of $27 will be charged each time you fail to make your scheduled payment. We will reattempt the repayment twice each payment cycle.

  There are no penalties for paying your loan out early.

  Variation Fee- $15 per Variation, when you require the repayment date or amount to be changed for any reason.

  $5.00 per day if the account is overdue - up to the Cap.

  Additional monthly fee will be charged if loan term extended.

• How it works?

  Once you have submitted your application, we will verify the information you have provided and we may need to collect additional documents. As a responsible lender, we conduct various inquiries including a credit check as part of our assessment process.

  We use an authorised third party company – Credit Sense to obtain your latest bank statements. This enables us to assess your application quicker. Be assured that we do not have any control of your bank account and your banking details are not storeed by us or Credit Sense. We take your security seriously and all your information on this site is well protected.

  Once all our checks have been done, we get back to you and arrange for the funds to be transferred to your bank account.

  Making your repayments is also easy. We will set up direct debit payments on a nominated date and send you a reminder a few days before.

  There is no cost to you whatsoever if you are unsuccessful in getting a loan from us. You are welcome to come back when your circumstances change.

• Can I apply if I’m having unpaid default?

  No! If you are current having unpaid default or discharged Bankrupt or Part 9 Agreement we will automatically decline the application.

• How long does it take?

  Depends on how tech savvy you are but most people get the application done within 5 minutes or less! And after that, we can take up to 1 hour to complete the assessment process. Please Note: If we require any additional support during the application process, the time frame may be extended.

• Have more questions? Contact Us Now

  If you have any further questions, contact us through:

  Email: admin@mycashonline.com.au

  Phone: 1300 998 868

  Mail: PO Box 136, Doncaster Heights VIC 3109

• Credit check

  As a responsible lender, we do carry out a credit check on eligible applicants. We are more lenient than traditional institutions such as banks; however, we too have ideals to follow. As long as your current financial situation is looking good, we will happily consider your loan application. Our loans are based on your capacity to meet your loan repayments and future credit worthiness.

• Can I apply for a loan if I’m currently Bankrupt?

  No, you do not qualify to apply with us if you are currently Bankrupt. In order to qualify for a My Cashonline loan, you must have a credit score and have been discharged from any form of bankruptcy for at least 3 years. This includes Part 9 (IX) Debt Agreements.

• Can I apply for a loan if I’m on a Visa?

  In order to qualify to submit an application, you must be an Australian citizen or permanent resident of Australia.

  This is verified once your application has been submitted and we conduct a credit assessment.

• Can I apply for a loan if I have bad credit?

  No, you do not qualify to apply if you had bad Credit socre in your Credit report.

• Can I make extra repayments on my loan?

  Yes, you can make additional repayments on your loan at no additional cost. Our banking detail was in the customer port, please login.

• Will my loan repayments be on the weekend?

  We offer flexible loan repayment schedules that align with your paycheck. So you can make automatic repayments weekly, fortnightly, or monthly to fit your pay schedule.

• Can I get an instant approval weekend loan?

  We offer same day approval on our loans during business hours. And as long as we get all the requested documents and information, you should have your loan paid out within the hour. Read our guide on getting instant approval for a personal loan.

• Can I apply for a small cash loan with MyCashonline if I have an existing loan with another company?

  Yes. If you have other small personal loans, car loans, or any other type of loan, you can still apply for a small cash loan with MyCashonline. As responsible lenders, My cashonline will only approve your application if we believe you can afford to repay your loan.

• Secured loans vs unsecured loans

  A secured loan uses an asset, often a car, as collateral for your loan. Whereas an unsecured loan does not use any type of asset as security. The increased risk to the lender means unsecured loans tend to come with higher interest rates. Read more on the difference between secured and unsecured loans.

• Is it hard to get a secured loan?

  It’s simple, fast, and easy to apply and get approved for a secured loan with us. As long as we have all the information we need, you could be approved the same day you apply.

• Can I apply for a same day loan online?

  Yes. At My Cashonline, our loan application process is 100% online.

• What happens if I apply outside of business hours?

  If you apply outside of business hours, we will review your application as quickly as possible the next business day. We may need to contact you to verify details or obtain extra information and documentation. The quicker you respond, the quicker we will be able to approve and process your loan.

• What are my responsibilities?

  When applying, we ask that you consider your situation and apply only if you’re confident you’ll honour your promises to us. Once you’re approved for a MyCashonline loan, it is your responsibility to ensure you have sufficient funds in your account on your scheduled repayment dates. MyCashonline may send you an SMS to remind you when your repayments are scheduled to be processed so you can ensure you have sufficient funds available. Learn more: What are my responsibilities

Need more help?

Feel free to ask us about it!

• Call Us

  anytime during business hours.

  1300 998 868

• Email Us

  Email us any time to

  admin@mycashonline.com.au

• See Our FAQs

  See answers to questions on how to use our services