Loans while receiving Centrelink FAQs

• What is the process for applying for a personal loan for people who receive Centrelink payments?

  1. Apply
  It takes less than 10 minutes to apply for a small cash loan online using your computer, smartphone or tablet. You can also visit your local Cashies store to apply in person and chat to one of our friendly staff members.
  
  During the application process, you'll be asked to provide your Centrelink Income Statement showing your Centrelink payments, along with your other supporting documentation. Our application portal links to Centrelink and MyGov to make it easy to provide this documentation during the application process.

  2. Check and confirm
  We’ll validate the information that you have submitted to make sure we’re lending you the right amount and it meets your needs.

  3. Approval
  If approved, the cash is transferred directly to your nominated bank account within 24 hours.

• Who is eligible for a cash loan while receiving Centrelink payments?

  1. I’m an Australian Resident
  

  To apply for a Personal Loan, you need to be an Australian resident. Non-resident Australians can apply for a Cash Advance loan in-store.

   2. I’m over the age of 18

  To be eligible to apply for a Cash Loan, you must be over the age of 18 years old.

   3. Can I still apply if all my income is from Centrelink payments?

  If you are receiving Centrelink payments you could qualify for a Cash Converters loan.

  This applies to Centrelink income customers including pensioners, people with a disability, carers, and JobSeekers.

   4. I’m not currently in bankruptcy or a Part 9 Debt Agreement

   If you are currently in a Part 9 Debt Agreement or currently in bankruptcy, we are unable to process your loan application. However, if you have previously been in a Part 9 Debt Agreement which has been successfully discharged, we will assess your application on your current situation.

   

  5. I have taken out two small loans in the last 90 days, can I still apply?
  

   If you have had two or more small loans within a 90-day period, you may still be eligible to apply based on affordability and your individual financial circumstances.
  
  6. What if i have existing small loans?
  If you have existing small loans you could still qualify for a Cash Converters loan, however your total repayments for all your small loans can’t be more than 10% of your net income.

• How much can I borrow with Cash Converters if I’m receiving Centrelink?

  With our Cash Advance (available in-store only), you can borrow any amount from $50 to $2,000 with a repayment term of 4 – 20 weeks.

  With our Small Loan, you can borrow any amount from $400 to $2,000 and the repayment period is 2 to 12 months. 

• What we need from you when you apply for a cash loan while receiving Centrelink?

  • Access to the latest 90 days of your bank account transaction history for the account your income is deposited into (you don't need to print these out, you just need to login to your internet banking when applying online or in-store).
  • Identification details (Like a Drivers licence).
  • A current Income Statement if you receive a Centrelink payment.

  
  For more information view our Frequently Asked Questions.

• What can a cash loan while receiving Centrelink benefits be used for?

  Life emergencies spare no one. Whether it’s a small loan or a Cash Advance, here are some of the ways our customers use the money they receive from a cash loan:

  • Small medical emergency bills
  • Small dental bills
  • House bonds
  • Moving house cost
  • Urgent house repairs
  • Urgent car repairs or parts replacements
  • Urgent white good repairs like your fridge, washing machine or heaters
  • Back-to-school expenditures like school uniforms, books or activities
  • Vet bills

• Is there a credit check?

  We do credit checks for Personal Loan applications only, this will leave a general finance inquiry on your credit file. However, as long as your current financial situation is stable, we will consider your loan application.

• Do I get instant approval for a Personal Loan?

  Though we don’t offer instant approval, we’ll only need to see your documentation once your application is accepted. The sooner we have all the documentation we need to determine if a loan is suitable, the quicker you will have a result. Depending on who you bank with, the loan funds may be in your account within 20 minutes of approval.

• How long before I get the money?

  It depends on who you bank with. Assuming we have all the supporting documentation we need to assess your loan suitability, the funds could be in your bank account within 20 minutes after receiving approval for Personal Loans, depending on your bank.

• I think I have a bad credit history, can I apply for a Small Cash Loan at Cash Converters?

  Although a good credit score will improve your chances of approval, we understand that people go through rough patches in life. That’s why our loans make getting on with life possible in a lot of circumstances. Even if your credit score isn’t as high as you would like, we can still consider your application and assess it based on your current financial circumstances, as we consider a variety of factors when approving a cash loan application.