Frequently Asked Questions

• Most Common Questions

  How much cash can I borrow?

  The maximum amount a customer may qualify for is $2,000^†. During underwriting, the lenders will assess your loan suitability and ability to repay. Your loan amount is determined by the information you provide in your application. After successful repayment of your loan, the lender may agree to increase the amount of the loan.

  What time will the funds be in my bank account?

  The exact time of funding depends on when your bank will post direct credits to your bank account. If you expect to be funded on a certain day, but the funds have not been deposited into your bank account, please contact your bank. They will be able to tell you when your funds are available.

  Also note that if you choose the same-day funding option and you’re approved by 2:30pm Sydney time Monday through Friday, you will typically receive your funds the same day. If you apply between 6pm and midnight Sydney time Monday through Friday and are approved by 2:30pm Sydney time the next business day, you will typically receive your funds that next business day. If you apply on Saturday or Sunday and are approved before 2:30pm Sydney time on Monday, you will typically receive your funds on Monday.

  If you choose the standard funding option and are approved by 6pm Sydney time Monday through Friday, you will typically receive your funds the next business day. If you apply on Saturday or Sunday and are approved before 6pm Monday, you will typically receive your funds on Tuesday. If you apply on a national bank holiday and are approved before 6pm next business day, you will typically receive your funds on the day after the approval day.

  If I apply for a loan on Saturday or Sunday, when will I receive the funds?

  If you apply for a loan on Saturday or Sunday, choose the same-day funding option and are approved before 2:30pm Sydney time on Monday, you will typically receive your funds on Monday. If you apply for a loan on Saturday or Sunday, choose the standard funding option and are approved before 6pm Sydney time on Monday, you will typically receive your funds on Tuesday.

  What are my repayment options?

  On behalf of the lenders, we will send an email 1 – 2 days prior to your due date reminding you that your loan is coming due. Your loan must be paid in full on the due date. Your nominated bank account will be automatically debited on the due date unless you set up the following payment option.

  Refinance You only pay the minimum amount (equal to your original broker fee) and the lender fee. The remaining principal of the original loan will be paid off by a new loan. This new loan will carry with it additional lender and broker fees. Your request to refinance must be received by 3pm Sydney Time two business days before your due date. You can request to refinance via our website.

  Do I need to fax or email any documents?

  DollarsDirect verifies applicants’ income. In order for us to verify your income, you will need submit a payslip or bank statement to us. When you apply, you'll be able to upload a digital file of either of these documents directly on our website or you may fax or email them. Otherwise, you can have us contact your Human Resources department to verify your income.

• Payment Options

  What is the loan broker fee?

  For our Basic Service, the broker fee is $25 per $100 advanced. For our Premium Service, the broker fee is $27.50 per $100 advanced. If you have applied a promo code, you will receive the appropriate discount off the broker fee. You can provide the promo code when you fill out your loan application.

  When I pay off a loan, how soon can I receive another loan?

  It normally takes 3 business days for your payment to clear to the bank. Once the payment clears, we can assist you to obtain another loan, subject to receiving approval from the lenders. The new loan will fund to your bank account the day after approval is given (if approved by 6pm Mon-Fri).

  How does a Direct Debit payment operate?

  The Direct Debit Request behaves in a similar way to a paper cheque. Once presented to your bank for payment of the loan, your bank will send the amount of the payment to satisfy the loan agreement.

  What if I can't repay my loan on the due date?

  If you can't repay the full amount of your loan on the due date, you may be able to request to refinance your loan by logging in to your member account.

  What if my payment is late?

  If your payment is received five or more business days past the due date, it will be considered late, and you will be charged an NSF fee of 5%, up to $15 by your lender and you may incur overdraft charges from your bank. The best way to avoid making late payments is to set up pre-authorized withdrawal and have sufficient funds in your bank account on your payment due date. After two failed attempts to debit your checking account, we may initiate collections procedures.

  What if I want to pay early?

  Simply contact us at 1800 060 892 if you want to pay your loan off early.

  What if I need more time to pay back my loan?

  You may be able to refinance your loan, which will require you to enter into a new finance broking agreement. Refinances are granted at the discretion of the lender and you will also need to enter into a new loan agreement. To see if you are eligible to refinance, log into your account, click on "Loan Details" and view your "Refinances Remaining." To refinance your loan, the minimum amount (equal to your original broker fee) and lender fee (calculated on the original loan) must be paid on your original loan due date. The remaining principal of the original loan will be paid off by a new loan. This new loan will carry with it additional lender and broker fees. The length of the refinanced loan will be governed by your pay dates and the rules displayed on the Rates and Terms page. The refinancing broker fee is calculated the same as the broker fee on the original loan. Fees for loans and refinances are found on the Rates and Terms page. If you qualify to refinance your loan, you can request one by doing the following:

  • Log in to your account at the upper right corner of this page
  • Select the "Request an Extension" button
  • Verify that your next two pay dates are correct. If they are incorrect, click on the "Employment" link under "Profile Options" to update your pay dates.

  Requests to refinance must be received by 3pm Sydney Time two business days before the due date of your current loan.

  What if I don't have the money in my bank account to repay the loan?

  You must contact us immediately to set up payment arrangements. If your debit comes back for any reason from the bank, we may initiate collection procedures and you may be prevented from receiving future loans from our lenders until all your payment obligations are met in full.

• Updating Information

  How do I change my password or reset my password?

  To update your password, log in to your member account by typing in your email and password. Once there, click on the "Change Password" link and type in a new password. Click the "Submit" button to save your new password. You can now access the site with your new password.

  To reset your password, click on the "Forgot Password" button under the customer login section. On the next page, enter your email address and click the "Send Me My Password" button. A new password will be delivered to your email address. Once you log in with your new password, you will be required to update that password to something familiar to you. You must update your password to continue.

  How do I update my account information?

  Log in to your member account by typing in your email and password. Once you are logged in, click on the corresponding link under "Account Details" in the "Manage My Account" section. Then, make the change and click "Update."

  How do I update my bank information?

  To update your bank information, you must submit the "Contact Us" form or call Customer Service at 1800 060 892 at least two business days before your loan is due.

  If your loan has already been issued, you will need to fax in a copy of a voided cheque or bank statement. Alternatively, you can fax us a picture of either of the above documents.

• Other Questions

  What if I don't have perfect credit?

  We will attempt to find you a lender even if you have less-than-perfect credit.^¶ Our friendly agents will work with you, even if you have already been turned down by other lenders.

  When will my loan be due?

  Your due date will normally be on your next payday that is between eight and 40 days away. If your pay dates fall outside this range, your loan will be due in 14 days.

  How do I know that my loan has been approved?

  You will receive an email notification once your loan has been approved. The lenders we work with reserve the right to make adjustments to your loan until the time you receive the funds in your bank account.

  Why don't I receive emails from DollarsDirect?

  DollarsDirect sends email notices when you apply for a loan and when you are approved for a loan. We also send payment reminders, payment confirmations, responses to emails and promotions.

  To ensure you receive important emails from DollarsDirect.com.au, please take a moment to add our email address support@dollarsdirect.com.au to your address book or to your spam good list or whitelist. Doing so will help identify us as a company you recognize and expect emails from. Doing so also allows our messages to reach you in a quick and timely manner. If you’re not sure how to do this, please feel free to call our Customer Service team at 1800 060 892.

  What if I want to send payment information to the Collections Department?

  For your protection, please do not email or fax any credit card information to our Collections Department. Please call us at 1800 024 858 if you would like to set up a credit card payment.