— What is a cash advance loan? 
A cash advance loan (also called a payday loan) is a short-term loan secured by your paycheck. We broker a loan for you and you pay us back by Direct Debit from your Bank account on the payday you designate.
— What is an Annuel Percentage Rate (APR)?
The APR is a calculated rate that not only includes the interest rate but also takes into account other lender fees required to finance the loan.
The idea behind APR is to help consumers understand the tradeoffs between interest rate and the fees paid over the term of the loan.
The APR stands for ‘annual percentage rate’, but our short-term loans are for a maximum term of just 16 days; so when you scale up the loan over a year the APR makes the loan look much more expensive than it really is.
— What is the comparison rate?
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different comparison rate.
The relevant annual percentage rate, is based on a typical $250 loan for 16 days.
The calculation is in accordance with the relevant State and Territory's Credit (Commonwealth Powers) Acts, the annual percentage rate is 658.20% (Comparison Rate)
— What is your renewal policy?
We understand that people do, with all the best intent in the world, have problems meeting their repayments. The key thing is that you speak with us and let us know what the problem is. If this is the case, we will work with you to help you meet your obligations without additional financial stress. If you do miss a payment or your direct debit fails, you may incur the following fees, click here. If you choose to ignore your obligations and refuse to either make a payment or discuss the issue with us we have the right to take further action which could include registering a default on your credit file, passing your information to a specialist debt collection agency and/or legal action.
— I'm new to CashToday. How do I get started?
It's easy! Register here and follow the instructions. (Apply now!).
— What documents do I have to provide?
You will be advised if any additional documents are required once your application is recieved.
— What are the requirements for approval?
You must have been in your current job for at least four consecutive months. In addition, you must have a valid Bank account that has been open for at least three months.
— When can I request a cash advance loan?
Anytime! If you are a new customer, simply fill out the application and follow the directions. If you are an existing customer, you can login to your account and click "Apply For New Loan."
— When do I get my money?
If you apply by 2:00 PM, The funds will appear in your account the next business day. Your bank may require an extra day to make the funds available in your account.
— How do I get my money?
Direct funds transfer. The money is directly deposited into your nominated bank account.
— How do I repay my loan?
We make a direct withdrawal from your bank account on your next payday or the payday that you designate on your application. We only withdraw the amount that was authorized in your loan contract. If you pay off this loan early you will not have to pay a prepayment penalty.
— What happens if I don't have the funds available to pay back the loan?
We'll work with you, provided you contact us as soon as you know that there's a problem. If you contact us before the due date, we can make arrangements to change the repayment date until your next payday. You will incur additional fees for this which are listed in the loan documents that you will sign. If we attempt to withdraw funds and your direct debit dishonours , you will incur a fee of $40. By staying current with your original loan, you limit any additional charges or collection fees applied to your account.
— Can I have more than one loan with CashToday at a time?
No. We must have the full amount collected before we can issue another loan. Besides protecting us, this policy also helps you avoid getting overextended.
— What if I only have a business account?
We require you to show us the last 3 months of bank statements to show us your income.
— What if I am self employed?
We require you to show us the last 3 months of bank statements to show us your income.
— Can I get my loan the same day?
Yes. For an additional fee you can have your loan wired to your account. Please note that most banks will also charge a wire receiving fee. Contact your bank about their policies and fees. Please contact CashToday Customer Service if you wish to receive your loan via wire.
— Can I renew my loan when it comes due?
No, we do not provide automatic renewals of loans. |
