1 800 129 307 | Login

Frequently Asked Questions

  • Most Common Questions

    What is DollarsDirect’s personal loan product?

    DollarsDirect offers a flexible credit product that allows you to take out the cash you need up to $2,025. All approved personal loan customers will be able to borrow up to $2,025. When you take out a loan with DollarsDirect, you get to choose: 1) How much you want to take out initially5; and 2) from multiple repayment options4.

    Approved customers will have a credit limit of $2,425, which includes a $400 establishment fee. The amount available to you to draw will be $2,025.

    How Much Can I Withdraw?

    Most customers will have the option of drawing less than the full amount available to them when they start their loan, and the option to take out multiple additional draws up to the full available amount during the redraw period. The redraw period is from the time of initial funding to the middle of your loan term. For example, if your loan term is 66 days, you may continue to take out more cash up to your available amount through the 33rd day of the loan. There is no additional charge for draws.

    You may draw up to the full amount available to you; however, if you pay down a portion of your loan, you may not redraw that principal amount. Over the course of a loan term, no more than $2,025 may be drawn in total regardless of any payments.

    Multiple Payment Plan Options

    Depending on your application and our underwriting process, you will have the option to pick from between 1-3 repayment options with different installment payments and final payment amounts. All the details for each repayment option will be shown. Choose the one that is most suitable for your needs.

    Of course, if you take additional draws, the loan repayment amounts will change. But, don’t worry; we will let you know exactly how the payments will change before you take out the amounts.

    How does Yodlee service work?

    Before we can move forward in the loan process, we must verify your income and expenses provided in the application. To do this, we review your bank statement. Yodlee offers a quick and easy online service that allows you to submit your bank transaction information online. Yodlee is a secure and encrypted platform that provides DollarsDirect read-only access to your bank transaction history, eliminating paperwork and saving you time.

    Don’t worry – we use bank-level encryption, and your bank login details won’t be viewed, stored, or sold by DollarsDirect. For additional information, please visit www.yodlee.com

    How much cash can I borrow?

    Qualified customers will be able to draw up to $2,025. After you apply, DollarsDirect will assess your loan suitability and ability to repay.

    Most customers do NOT need to borrow the full amount available to them5! If something comes up and you want or need to draw more, request additional cash up to $2,025 at no extra charge during the open draw period.

    Your payment options are determined by the information you provide in your application.

    Approved customers will have a credit limit of $2,425, which includes a $400 establishment fee. The amount available to you to draw will be $2,025.

    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.

    If your loan is approved by 2:30pm Sydney time, Monday through Friday, you will typically receive your funds on the same day. If your loan is approved after 2:30pm Sydney time on a business-day, you will receive your funds the following business day. If you apply on a holiday or weekend and your loan is approved by 2:30pm the following business day, you will typically receive your funds on that business day. If you do not bank with one of the following: ANZ, Commonwealth Bank (CBA), National Australia Bank (NAB), St.George Bank (STG), or Westpac; it may take you an additional business day to receive your funds.

    Same day funding is possible only for the initial draw made at the time of loan application. For any subsequent draws made, funding will typically occur the next business 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 and the loan is approved by 2:30pm Sydney time on Monday (if Monday is not a business day, then the next business day), you will typically receive your funds on Monday (or the next business day). If you do not bank with one of the following: ANZ, Commonwealth Bank (CBA), National Australia Bank (NAB), St.George Bank (STG), or Westpac; you will typically receive your funds on Tuesday.

    What are my repayment options?

    DollarsDirect provides an automated, no-hassle repayment option through the use of authorized direct debiting of your bank account on the payment due date and for the scheduled loan repayment amount.

  • Payment Options

    What is the Establishment fee?

    We charge an establishment fee of $400 to process your application and administer your credit limit. The establishment fee is included in your credit limit. If you have applied a promotion coupon code, you will receive the appropriate discount off the establishment fee. You can enter the coupon code when you fill out your loan application.

    When I pay off a loan, how soon can I be approved for another loan?

    It normally takes three(3) business days for your final payment to clear to the bank. Once the payment clears, we can review your new loan application.

    What is an Authorized Direct Debit payment?

    An authorized Direct Debit is an electronic request that DollarsDirect sends to your bank to cover the payment owed. The exact timing of the withdrawal depends specifically on your bank’s processes. On each installment date, we will only request the amount currently owed for that particular installment.

    What if I don't have the money in my bank account to make an installment payment or repay my loan at the end of the term?

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

    Is it possible to extend my loan?

    Loan Refinances may be available with your personal loan. If you do not wish to pay off your loan in full on the final payment due date, you have the option of applying to refinance the remaining balance. When refinancing your loan, you will receive a new credit limit of $2,425, which will include a new establishment fee of $400 as the cost of administering this new loan. The amount you owed on your initial loan will be subtracted from your new credit limit in order to pay off your initial loan. Any amount remaining under your new credit limit after paying off your previous loan and the new establishment fee is available for you to use for other expenses.

  • 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?

    At least two (2) business days before a scheduled, preauthorized direct debit, please contact Customer Service at 1 800 060 892.

    If your loan was issued, you will be required to email or fax a bank statement, voided cheque or letter from your bank on bank letterhead.  Either document must include your name, current address, bank account number and bank name. Alternatively, you may fax us a picture of your bank statement, voided cheque or bank letter.Upon receiving your documentation, we will email you a confirmation of the change or a rejection notification.

    Note: If a preauthorized direct debit is in progress or has not yet cleared or returned, DollarsDirect is unable to change your bank details.

  • Other Questions

    What if I don't have perfect credit?

    We will review your loan application even if you have less-than-perfect credit.3 We and our friendly agents will work with you to understand your true financial position – as a responsible lender, we don’t want to give you a loan that you cannot afford.

    When will my loan be due?

    You will make installment payments on your pay dates. Your final payment due date will be 65 to 100 days after your loan is funded, depending on your pay frequency and application date. Your loan contract will clearly mention the repayment details. Anytime you draw additional funds, you will receive an email detailing your updated payment schedule with dates and amounts.

    How do I know that my loan has been approved?

    If you are approved, you will receive the initial amount requested into your bank account and an email notification informing you of such. We 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 [email protected] 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.

Time left for funding within 1 hour

Subject to approval of your application by 2:30 PM Sydney time

Apply Now

[1]Approval subject to DollarsDirect's lending criteria. Approved customers will have a credit limit of $2,425, which includes a $400 establishment fee. Customers who use a discount or promo code will have the establishment fee (and credit limit) reduced by the amount of the discount. In all cases, the amount available to you to draw will be $2,025. [2]Most customers who bank with ANZ, Commonwealth, NAB, St. George or Westpac, and are approved by 2:30pm Sydney time Monday – Friday (excluding holidays), will be funded the same business day. All other approved applications will be funded the next business day. [3]DollarsDirect will consider your loan application regardless of your credit history. If you have defaulted on past transactions, you may be declined for a loan. [4]Some customers may only have one repayment option. [5] Most customers will not have to draw the entire amount available to them initially. However, some customers will be required to draw the entire amount on the date of initial funding. [6]Loan terms vary based upon your application information and your pay frequency. [7]You may cancel your loan within 24 business hours of initial funding by calling us at 1 800 060 892 and we will only debit your account for the principal amount we deposited. There will be no additional charges or fees. 24-hour cancellation option does not apply to refinanced loans. [8]Loan must be in good standing and adjustment requested at least 2 business days before the current due date.