How Online Payday Loans Work
PayDayFinders is dedicated to offering the fastest and most hassle-free lending available. Our simple loan process is designed to get you the money you need, when you need it most. Here's how it works:
- Apply - Tell us how much you need by completing our short and simple application
- Match - We will try to match you with a payday lender based on your application details. The lender will give you a decision (approved/not approved) after considering your application
- Funded - If the lender approves your application, the money may be deposited in your bank account the same day.
Loan Requirements for a Payday Loan
You must satisfy the following requirements to receive a loan from our lenders:
- Must have a valid bank account that can receive direct debit
- Must be at least 18 years of age
- Must be employed and receive a regular paycheque or salary
- Must be a resident of Australia
FAQs about Payday Loans
Five most popular How it Works questions.
How much money can I receive?
If you qualify for a payday loan and depending on the lending criteria of our lenders, you can receive up to $600 in your bank account in less than 24 hours. Please note that the average first time payday loan amount varies between $185 to $200.
When will I receive my loan?
After your application is received by our lenders, your application will be processed within 30 minutes from the time you have submitted it online. If it is approved before 15:00, you may receive same-day funding.
How do I pay my payday loan back?
Paying your loan back is simple. In the application process you input your debit card details and the agreed date of your next payday with your employers. Our lenders may organise a payment schedule with you which could span the next few pay days. On that date the lender will deduct your loan and the charges. You don't need to do anything at all, it's all done for you.
How do I extend or pay my loan later?
If you have problems paying the payday cash loan back your lender may be able to defer payment another month but additional charges will apply.
Why are online payday loans better?
Online payday loans have become more popular over the last few years due to the ease and instant access the internet provides. You may apply for a payday loan in the privacy of your own home.
