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Access your pay early with PayAdvance

Get on living life with access to the pay you’ve already earned with PayAdvance. With Cash Converters PayAdvance you could access some of your pay with just a few clicks and a 5% fee.

That’s just $5 for every $100 you are approved for. All you need is a regular income from your employer to be eligible. There’s no credit checks and we’ll deposit the money straight into your bank account. It’s really that simple.

It only takes a few minutes to apply and you can get on with making more of the things you want possible, now.

How to apply for PayAdvance

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1. Download

Download the My Loans app and register



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2. Apply

Apply for PayAdvance in the app from the home screen

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3. Approval

If approved, cash is transferred straight away*

*depending on your bank’s processing times

Download the My Loans App now

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Who can apply?

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Australian Resident and over 18 years of age

You can apply for a PayAdvance if you are over 18 years of age and are an Australian Resident.

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Minimum income

To be eligible for a PayAdvance, you must be making $200 per week (after tax) and have been paid for a minimum of 3 months.

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Must be employed

To qualify for a PayAdvance, you must be earning an income from an employer. Centrelink income cannot be used to determine if you are eligible for a PayAdvance.


Subject to eligibility criteria. 
See our TMD when deciding if this product is suitable for you.

PayAdvance Product Features

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Loan amount

With PayAdvance, you can borrow up to 25% of your income or up to $100.

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Loan Term

You can pay back your PayAdvance when your next pay comes in.

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Apply with no credit checks

Apply easily through our My Loans app. With PayAdvance there are no credit checks.

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Funds disbursement

We transfer the cash straight away after approval* and then you repay it on your next pay day.

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One low fee

There are no hidden fees or interest charges. Just a 5% fixed fee.

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Increased borrowing capacity

Your PayAdvance limit may increase if you establish a reliable repayment history.

PayAdvance FAQs - General
  • Who can apply for PayAdvance?

    Anyone between the ages of 18 and 79, who earns a regular income from an employer and meets our eligibility requirements. You need to have earned a regular income over the last three months of at least $200 per week. Both full time and part time employment are eligible.

  • Do I need to be employed?

    Yes, to be eligible for this product you must be employed. The PayAdvance product is an advance against earned wages, which means you need to be earning an income from your employer to be eligible. If you are not employed or earn a Centrelink income, Cash Converters offer other personal loan options that might suit your needs and circumstances. 

  • Can I use my Centrelink income as wages?

    Unfortunately not, however we do have a Centrelink loan option you can refer to.

  • How long does it take to get my money?

    In most cases we will deposit funds into your bank account instantly. However, depending on your bank it could take up to 2 business days.

  • Why can I only access a portion of my wages?

    We’re responsible lenders and at this stage you can only get up to 25% of your earned wages. As you use the PayAdvance product more regularly, your limit may increase.

  • How does a PayAdvance work and how much can I borrow?

    1. Download the My Loans app and register
    2. Apply for a PayAdvance
    3. Get real time deposits in your bank account
    4. Repay the PayAdvance on your next pay day
    You can access up to 25% of your earned wages.

  • What's the difference between a Cash Advance and a PayAdvance?

    A Cash Advance allows you to borrow up to $2,000 in cash, on the spot, for a 4-12 week period with regular repayments and is only available in-store. A Cash Advance product, known as a 'SACC' or Small Amount Credit Contract product, is a government-regulated product under the National Consumer Credit Protection Act (2009).

    A PayAdvance product is a loan advanced to you against your next earned wages. The cash, which is up to a maximum of $100, is credited into your bank account before your next pay and is then repaid on your next pay cycle. It is only available through the My Loans app. The PayAdvance product is not governed by the National Consumer Credit Protection Act (2009) and repayment terms cannot exceed 62 days.

My Loans
  • What is My Loans?

    My Loans is a central hub for managing everything to do with your Cash Converters Personal Finance loan, Pawnbroking Loan or Buyback. With My Loans you can view your due dates, loan amounts, make payments and more.

    You can download the Cash Converters My Loans app on Apple and Android devices.

  • How do I register to use My Loans?

    Step 1 - Visit www.cashconverters.com.au/myloans and click register to create a Cashies Login
    Step 2 - Enter the verification code sent to your email (if applicable)
    Step 3 - Follow the prompts to complete your registration
    Step 4 – Log into My Loans, either from the Cash Converters home page or by using the Cash Converters My Loans App available from Apple and Android app stores. 
    Step 5 - Click ‘Link your loans’ and provide the requested information to add your loans to your My Loans Dashboard. If you are having trouble registering with My Loans, please call 13 22 74 or visit your local store for assistance.

  • Why is my PayAdvance account locked?

    Your account could be locked due to the following reasons:

    1. You have repaid your PayAdvance and its yet to clear with us (this usually takes 2-3 business days)
    2. You have missed your scheduled repayment, so you will need to make up the missed repayment
    3. If you have reached your PayAdvance limit for the pay cycle.

Repayment
  • How and when do I repay the PayAdvance?

    You pay back a PayAdvance on your next pay cycle through an automatic direct debit on your bank account or manually through the My Loans app or the contact centre on: 13 CASH (132 274).

    In most cases a direct debit on your bank account will be set up. You can also pay manually through the My Loans app.

  • What if I lose my job before repaying the PayAdvance?

    If you lose your job before your next pay day, you can pay your outstanding amount manually through the My Loans app or the contact centre on 13 CASH (132 274).

  • What should I do if I miss my scheduled payment?

    If you have a direct debit set up, we will automatically try again a day later. Alternatively you can pay your outstanding amount manually through the My Loans app or the contact centre on 13 CASH (132 274).

  • How long does it take for my repayment to clear?

    Usually it takes 2 – 3 business days.

Applications
  • Where do I apply?

    Download the Cash Converters My Loans app and apply for PayAdvance via the app.

  • What do I need to apply, and is the application process easy?

    You will need:

    1. Your personal details including mobile number and email address as well as
    2. Your internet banking login details.

    You don’t need to upload any documents. We will verify your identity and eligibility during the application process.

  • Can I have more than one PayAdvance during a pay cycle?

    No, at the moment we offer one PayAdvance per pay cycle.

  • I’ve reached my limit, what now?

    You’ll need to repay your outstanding PayAdvance amounts and wait until the direct debits have cleared with us (usually 2-3 business days). Once this is done you will be able to request another PayAdvance.

  • Does Cash Converters perform a credit check when I apply for a PayAdvance?

    No credit checks are performed.

  • Why do you need to connect to my bank account?

    Connecting to your bank account allows us to verify your income, expenses, and eligibility and make the process quicker for you.

  • I have more than one bank account, which one should I select?

    If you have more than one bank account, select the one where you are paid. The bank account which receives your pay will be the account that receives the funds and where the direct debit will come from.

  • Why do I need to complete the process again for each application?

    For your safety we need to verify your ID and assess your bank account for each application.

Fees
  • What does PayAdvance cost?

    There is a flat once off 5% transaction fee on the amount you receive. There are no other fees. For example: if you receive $100.00, you will be charged a 5% transaction fee ($5.00) and repay $105.00 on your next payday via a direct debit.

Complaints and Disputes
  • I’d like to lodge a complaint or a dispute?

    If you would like to lodge a complaint with us regarding the PayAdvance product, please send an email to: complaints@cashconverters.com and provide the following information:

    • Full name and Surname,
    • Date of birth and
    • Enough information to understand your complaint.

    We will response to your complaint as soon as possible.

    Read our Dispute Resolution Policy.