CashFaster FAQ’s

CashFaster extends loans to pension recipients, but with stringent eligibility standards. To be considered for a loan, you must have a weekly income of at least $300 from a source other than your pension. The lender takes responsibility seriously and only approves loans to those who meet their qualifications.

CashFaster charges fees on all of its loans.
The costs associated with your loan are governed by responsible lending legislation.
In most cases we will charge a 20% establishment fee – calculated on your principal.
There is also a monthly account fee of 4%.
All our fees are in line with industry standards.

CashFaster provides you with the flexibility to choose the length of your loan.
Most users opt for a duration between 5-20 weeks.
The shorter the loan, the higher the repayments will be.

We encourage our users to pay off their CashFaster loans as soon as possible!
The quicker you pay your loan, the less you will be charged in monthly account fees.
Paying off your loan before its due date will be a positive mark on any future applications.

We are open to discussing payment options with you over the phone or by email.
CashFaster understands that unforeseen circumstances may affect your ability to repay your loan.
Speak to one of your friendly consultants to see what options may be available to you.
In most cases we will need 48 hours notice to change payment dates on your loan account.

Users who miss their payment dates are subject to late payment fees and other relevant charges per your loan contract.
CashFaster understands that unforeseen circumstances may affect your ability to repay your loan.
Speak to one of your friendly consultants to see what options may be available to you.
In most cases we will need 48 hours notice to change payment dates on your loan account.

Our application process is all online and incredibly quick.
Fill out all your details on the application form and one of your friendly CashFaster team members will assess your application.
Best of all, applications submitted during business hours will be processed on the same day.
Don’t hesitate, apply now, and get your decision within seconds.
CashFaster is a responsible lender – as such, you must meet certain qualifications in order to be eligible for one of our great products!
You will have to complete a new application for each loan so we can assess your current circumstances.

CashFaster applications are all digital and available 24/7!
Our friendly customer service team is based out of Melbourne and are in the office from 8am-6pm, Monday-Friday, Saturday 8am-5pm
Feel free to discuss your application over the phone or by email during business hours.

If your application is submitted and accepted during business hours, you will most likely receive your funds that day!
Please be mindful that each bank has a different processing time - as such, payments may become available the day following your application.
No need to panic, CashFaster will endeavour to get your funds to you as soon as possible.

You select the reason for your loan during the application process. Your expenses are only examined upon submission of a loan application. We will not monitor your transactions whilst you have an active loan with CashFaster.
Ensure that you don’t spend in a manner that may affect your ability to repay your loan.

Users cannot have more

We may need to check your application and employment details with them in order to approve your loan. If you talk to them first it can help speed up the approval process. We won’t talk about the amount you are borrowing or any other information. Our privacy policy is very strict and we will only ever ask to confirm the information you have given us. We take fraud very seriously and these checks ensure that no one else is using your details to fraudulently obtain a loan.

Legally, we to have to enquire as to why you need the loan to ensure this type of financial product is the best choice for you. Our aim is to help everyday Kiwis with temporary cash flow problems.

No, we do not need security but as part of the loan documents you will sign a Wage Deduction Authority.

No, you need a mobile phone to complete your application. We have to send your verification code by text for security reasons. We will also message or call you on this if we need any help with your application, so you should keep your phone on you if possible while we process your loan to get it approved quickly with no hold ups.

If you complete our application you can be confident we have received your application, you will also start receiving some text messages and emails from us.

We can only lend money to people who can pay it back affordably, which means considering the source of your income. Being employed and receiving a stable, ongoing income will improve your chances of being approved for a Moola loan. Unfortunately, we do not currently lend to customer’s whose sole income is from a government benefit, excluding New Zealand Superannuation.

No, currently we do not accept phone applications. Our friendly support team can help you through the online application process if needed simply call our support number within business hours.

Our team is available Monday to Saturday 8:00am - 5:00pm. We are closed on public holidays.

While bad credit can affect whether you qualify, it will not rule you out. We don’t want to give anyone a loan who will not be able to pay it back comfortably as we take our responsibilities seriously.

It all depends on your income, we only let you borrow an amount where repayments will be less than 48% of your net pay per period, and we also consider the amount of any other debt repayments. Using our online calculator you can work out how much you may be able to borrow. If you’re a first time customer the most you can borrow is $1,000. After that you could borrow up to $2000. We only want to lend to people who are able to service the debt with ease. We don’t want anyone falling further into debt because of our loans.

If you are already in debt then we would advise you not to get a Cashfaster loan. Getting an online loan will only increase your financial responsibilities. You should visit The Government’s MoneySmart website or ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor

If you meet the criteria and have a separate bank account, email address and cell phone then you will not be restricted by your partner’s loan unless they are having difficulty repaying their loan and we believe lending to you also may put you into a difficult financial situation.

Yes, you need a current and active Australian bank account. The account you give us must be the same one that your employer pays your wages/salary into. We will confirm this when we do the payroll confirmation.

We cannot confirm your loan will be approved and sadly we cannot advise how long it will take for us to process your application as it depends on the number of applications we have in our system and whether we have all of the information we require.

But our online loan application is quick and clear and should take less than 5 minutes for you to complete. We will then ask you to complete a few more things, if you complete these straight away this will make it a lot easier for us to process your application. Handy Tip: If you also provide us with your latest 3 payslips, it is likely to mean we can process your application even faster.

You will be declined if you:

• You provided false or misleading information or withheld relevant information
• You're bankrupt
• Your income cannot be confirmed as ongoing
• Your current expenses or debt repayments are too high for the loan to be affordable
• We could not successfully verify your personal information
• Your contact information or reference information provided on your application is either invalid, incorrect or fraudulent
• We were not able to verify your bank account information
• The bank account provided does not have your income deposited into it
• You do not hold permission for the bank account provided
• Your bank account conduct as shown on your bank statements shows concerning behaviour or affordability issues
• You have adverse or poor credit history which indicates you are still experiencing financial difficulties
• We were unable to locate or validate your employer
• If there are any other concerns indicating that the loan may be unaffordable, that it may cause you financial difficulties, or that it is not suitable for your requirements
• If there are any other concerns indicating that the loan may be unaffordable, that it may cause you financial difficulties, or that it is not suitable for your requirements

We will need to be given basic personal details like your name, age, address, phone numbers, email address, bank account details and employment info. This information is required so we can verify your identity.

It is vital that you give us the most accurate information you can, any mistakes or conflicting details will slow the process down. We take every effort to protect your information by using secure socket layer (SSL) encryption. If you are concerned about giving us these details please look at our privacy policy.

You've got seven working days from the moment the terms of the loan are disclosed to you to return the loan proceeds to Cashfaster and cancel your loan agreement. Check the loan agreement for a full statement on the terms and conditions of the loan.

If you want to change the amount you have applied for we will be able to update this in your application for you up until the point a decision is made on your application, simply email us at support@cashfaster.com.au. The new amount will need to meet our lending and affordability criteria and we will ask you to sign your new loan documents before it is paid out.

Once your loan is approved, we will pay out the loan our end, and it is then with the banks to get the funds transferred. Most banks will usually get the funds transferred and in your account in 60 minutes, sometimes it is as fast as just 10 minutes within business hours. If your application is approved after business hours you will receive the funds the next operational business day. But there can also be some delays at the banking end that unfortunately we cannot fix. If you’ve got the formal approval text then you should see your funds soon. If your funds are still not visible in 4 hours feel free to call us to follow up.

We will put it into your bank account via PayID

Just login to your account section to check this information or call our customer service team on 0800 003 011.

Yes, you can. We don’t charge any extra fees if you repay your loan early. As the interest is calculated on a daily basis you will only pay the amount accrued until your payment, so you will actually save money.

Different terms, fees or loan amounts will have different costs but at Cashfaster we promise no hidden fees, no small print and no nasty surprise. The first step of our process will provide you the number and approximate repayments for the loan amount you have selected. And the final step before your approval will give you a full breakdown of your loan, and the exact details of your repayments for you to confirm you are happy with this before you agree to the loan.

For further cost information please see our fee page.

If you do not think you are going to be able to make your payment on the due date, please email us at contact@cashfaster.com.au immediately to discuss. Our friendly payments team can discuss options with you but please be aware if you call us after the payment is due default fees may apply.

If you want to change them for an existing loan then you need to talk to our customer services team on contact@cashfaster.com.au and you need to ensure this has been changed with your payroll, if not you need to talk to your payroll officer about the change. When reapplying the bank account you get paid into will always be used, if you are in the process of getting this changed over with payroll please call our customer services team on contact@cashfaster.com.au and they will advise what is required.

Once you have had one Cashfaster loan, you can apply to borrow up to $2,000. The exact amount borrowed will also depend on your income and current financial situation, as we will only let you repay a maximum of 48% of your income and your existing debt repayments must be no more than 48% of your income over a pay period. It may also depend on your previous repayment history.

No, you do not need to delete your account to update your details. You can contact our customer support team on contact@cashfaster.com.au and they will help you change your email address or mobile number.

If you need to change any other details you can do this when you reapply for your next loan by changing them on the application page.

You will need to contact our customer support team on contact@cashfaster.com.au to discuss this. We will do our best to help you but we need to ensure we are keeping customer’s accounts secure so we may require you to verify your details.

Even if you repaid it overnight, we don’t reconcile until about 8am the next morning. If it is after this time and your payment has not been reconciled, contact us on contact@cashfaster.com.au and talk to one of our customer support team.