We appreciate that you may have Frequently Asked Questions about the loan process or about us, and that’s understandable. We have included below some of the more frequently asked questions that we have received from our valued customers. We trust that our answers give you the information that you are looking for and will help you in making a decision. Feel welcome to contact our customer support team if you can’t find the answers you’re looking for below.
BEFORE YOU TAKE OUT A LOAN
- Home repairs – you might have a leaky pipe which you need fixed straight away. You don’t want to wait around to save the money to pay the plumber when you need the job done quickly.
- Car repairs – when your car breaks down you know you’re going to be hit with the mechanics bill. Getting around without a car is not an option for most people so get an emergency loan to cover those repairs that need to be done so you can get back on the road.
- Medical emergency – sickness can strike at any time. This means doctor’s bills and medicines. Many people apply for a medical loan or an emergency loan to help them cover those unexpected medical bills.
Of course, there are only a few examples. Check out of Types of Loans to see what other types of loans we offer.
We do not want our customers to commit to long term loans over a number of years. Bearing this in mind, we ask our customers to keep in mind that Instant Cash Online is not a solution to a bad debt situation.
We also don’t want our customers to borrow funds to pay other debts. If you already feel overwhelmed by your current debt situation, we ask that you not apply with Instant Cash Online because it may not be the right solution for you.
At Instant Cash Online, we pride ourselves on being an ethical short-term lender.
We want to make sure that you are able to repay your loan. Just because you have had bad credit in the past shouldn’t stop you from apply. We can still help. That’s because we don’t look at your bad credit history but rather your current situation.
This makes us different from most lenders because we believe everyone should be given an opportunity to try and repair their credit. Taking out a loan which you repay can actually improve your credit.
In fact, we don’t believe we’d be doing the right thing by you if we didn’t.
The types of information which we may need to verify include your income, your address and/or the your employment state.
This is usually only done the first time you take out a loan with us.
Once you submit your application we will attend to reviewing your application the same day and get back you the same day. For more information about the loan process, refer to the How does it work.
ONCE YOU HAVE A LOAN
You will appreciate that depending on the time of day, funds may not be available in your account that day but will be made available to you the next business day.
This is usually the case with smaller banks or if your approval is sent after 4pm on a business day. In the very rare circumstance, there may be systems issues. In you have any concerns please feel free to contact us.
You will appreciate that depending on the time of day, funds may not be available in your account that day but will be made available to you the next business day. This is usually the case with smaller banks or if your approval is sent after 4pm on a business day.
In the very rare circumstance, there may be systems issues. In you have any concerns please feel free to contact us.
However, that does not mean we accept everyone. If you have numerous defaults in the last month, are in a part nine debt agreement, or are now bankrupt, chances are your application will be declined.
- If the direct debit is declined – In this event, not only are you responsible for a $35 failed payment fee by Instant Cash Online, but you may also have to pay your bank a dishonour fee. If we agree to reschedule your payment for a later date, the $35 still applies
- What happens if you do not pay – In the event that you fail to contact us and the direct debit is declined, we consider your account overdue. From here, your account is passed to our Repayments Team. Our Repayments Team will attempt to contact you through SMS, email, and telephone to set up an affordable payment plan for the remaining payments owed.
- Still cannot contact you? – In the event that our Repayments Team is unable to contact you, Instant Cash Online reserves the right to contact an external collections partner and pass on your account. In the event this occurs, please keep in mind that Instant Cash Online may place a default on your credit file. This could harm your credit history and for upwards of five (5) years.
You can be sure that you will always receive a fair and objective investigation. If you do have a complaint, Instant Cash Online would welcome hearing it. It allows us to address potential problems and improve in the future. This makes the overall process better for everyone.