Wallet Wizard Line of Credit Review: fees and costs | Finder

Are you struggling financially?

If you ‘re struggling financially and would like to speak to person for complimentary fiscal advice, information and aid you can call the Financial Counsellors hotline on 1800 007 007 ( open from 9:30am to 4pm, Monday to Friday ). If you are suffering fiscal problems related to the coronavirus pandemic you may be eligible for extra defend.

⚠️ Warning about Borrowing

payday-warning Do you really need a loan today?*
It can be expensive to borrow little amounts of money and adopt may not solve your money problems .
Check your options before you borrow :

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government ‘s MoneySmart web site shows you how little sum loans work and suggests early options that may help you .
* This instruction is an australian Government prerequisite under the National Consumer Credit Protection Act 2009 .

Compare Wallet Wizard Loans

1 – 2 of 2

Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Wallet Wizard Smart Loan Wallet Wizard Smart Loan $ 8,000 up to 2 years 24 hours $ 10 47.8 % $ 316.70

lend oneself for up to $ 8,000 and be able to access your approve lend as a convenient note of credit . More Info compare


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Wallet Wizard Smart Loan (Up to 2K) $ 2,000 up to 2 years 3 hours – conditions apply $ 10 47.8 % $ 316.70

enforce for up to $ 2,000 and be able to access your approved lend as a commodious telephone line of credit rating.

More Info compare


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How do Wallet Wizard loans work?

Wallet Wizard provides lines of credit up to $ 8,000, with flexible repayments. You can repay your lend weekly, fortnightly and monthly, and there is no early refund penalty. You can besides redraw your extra payments or apply for a credit limit extension. These loans have a flying approval process and you could receive the funds within 60 minutes. You will lone be charged for how much you use. While there are no ongoing fees, this loan comes with a high interest rate of 47.8 % p.a. Borrowers with bad credit or receiving Centrelink payments can still apply. Wallet Wizard loans vary from $ 500 to $ 8,000 and are offered as a continuous citation intersection – this mean the loanword does not close until you ask Wallet Wizard to close it. Applicants will receive a answer shortly after submitting their application, and if approved they will be offered a credit limit. This is the maximum level of credit made available to that applicants based on their circumstances. To access or view their available recognition counterweight, customers can login to the penis ‘s area. Repayments are made weekly, fortnightly or monthly depending on the refund schedule set out in an applicant ‘s lend condense, but loanword customers are besides able to apply to redraw and top up their loanword with extra repayments through the member ‘s area, for no extra monetary value. Repayments are automatically lineal debited from a appoint deposit score on specific dates set out in the lend contract .

What features does Wallet Wizard offer?

  • Repayment flexibility. Repayments can be made weekly, fortnightly or monthly. Additionally, there is no early repayment penalty.
  • Various credit limits available. Apply for a credit limit between $500 to $8,000.
  • Top-up and redraw. Customers can login to the member’s area to to pay extra funds on their balance or apply for a credit limit extension.
  • Bad credit and Centrelink considered. Prospective applicants can apply if they have bad credit, have been bankrupt or receive Centrelink payments.
  • Transparent fee structure. This loan comes with a high interest rate of 47.8% per annum. No ongoing fees apply to this product.
  • Quick approval. The approval process for these loans is quite fast due to the use of their loan engine technology. This automated engine works out the exact loan someone is eligible for and also sets out a repayment schedule. Once approved, funds can be transferred into someone’s account within 60 minutes if the contract is accepted before 2:30pm Mon-Fri Sydney time. If not, it is transferred by the next business day.

What are the risks of a Wallet Wizard loan?

high interest loans can leave you in a worse fiscal position than before you borrowed the money so consider these risks cautiously before you apply :

  • Unaffordable repayments. Short term credit is a high-cost way to borrow money. If you miss a repayment and don’t tell them then Wallet Wizard will charge a late fee that increase the amount you owe.
  • High interest rates and fees. Rates and fees on these products are high and there can be more fees if you get behind on making payments. Make sure that you can comfortably avoid the repayments to avoid any unexpected fees.

How to apply for a Wallet Wizard loan

This loanword can be applied for handily on-line. Applicants must meet the follow eligibility criteria before starting an application :

  • Must be at least 18 years of age.
  • Must be an Australian citizen or permanent resident

Applicants will besides need to have access to the follow necessitate documents :

  • Bank details. A BSB and account number are required to apply, or bank statements that cover the past 90 days.
  • Identification. Two identification records are needed. These can be a driver’s license, Medicare card or passport number.
  • Past records. Details of any credit contract repaid in the past 90 days is required.
  • General information. General information about the applicant, including their name, date of birth, address, and employment status should be provided.

Applicants should ensure that they compare their options before submitting an application, to get the best conduct possible for their circumstances .

Frequently asked questions

Can I check on the progress of my application? Yes, customers can login to the extremity ‘s sphere of the Wallet Wizard site to see how their application is going. How do I submit the required documents? Applicants are able to submit these documents electronically by inputting their internet bank details and relevant ID numbers into the system. If Wallet Wizard request far software documentation from any applicant, that lotion will probably take slightly longer to be processed. I’ve been approved. When will I receive my loan? This depends on when Wallet Wizard processes the application and transfers the cash. If person is approved before 2:30pm Mon-Fri Sydney prison term, their loan will be sent on the like day. If it ‘s approved subsequently, it will be sent the following business day. Most major banks will process the funds in under an hour, but others may take up to three hours. How do I repay my loan? Wallet Wizard will set up automatic rifle send debits to help ensure customers can make their repayments on time. The payment dates will be set out in applicants loan contracts. Customers will besides receive payment reminders via SMS and email three days before the repayments are due.

Can I apply for another loan? Customers are able to apply to top up their approved recognition limit by logging into the penis ‘s area .

source : https://shayski.com
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