Frequently asked questions

Moneyspot is an Australian Credit Licensee (No. 450305) and is regulated by ASIC. We are located in Sydney and our service is available Australia-wide.

Changes in eligibility for loans up to $2000

Why was my loan declined

From 12 June 2023, new government regulations have changed the eligibility criteria for customers seeking loans up to $2000. Your loan application will be declined if you apply for a loan of $2000 or less and:
1. You entered into 2 or more loan contracts for $2000 or less over the past 90 days; OR
2. The total repayments on loans of $2000 or less exceed 10% of your net income.

Does this affect my ability to apply for a loan over $2000?

No, the new regulations only apply to loans of $2000 or less.

Why don't you offer loans up to $2000 anymore?

We are now focusing on loans over $2000, however if you apply for a loan over $2000 and we assess that the loan is unsuitable for you, we may offer you a smaller amount.
Applications and Approvals

How does the application process work?

Our application process is completely online. It allows us to process your application faster and get money to you sooner. The information we ask for is designed to satisfy the regulatory obligations we have without overburdening you with detailed requirements. It’s fast, easy and convenient.

Apply now in just 5 minutes

How can I apply?

You apply online via our website at You can also access our service with any mobile device.

When can I apply?

Our online service can receive loan applications 24/7 including weekends and ALL public holidays. However, our operating hours are between 8am to 8pm (AEST).

Am I eligible for a loan?

If you are over the age of 18, possess an Australian Drivers License or  Medicare Card, and are able to provide 90 days worth of bank statements from an Australian bank account, then you are eligible to make an application with us.

What if I'm on government benefits?

So long as regular income is received in the account, we will be able to consider you for a loan. If government benefits are your only or primary source of income we will still aim to assist you in the best way we can, however cannot guarantee your loan application being approved.

Are there any credit checks?

In most cases, we will carry out a credit check during the Application process. If we choose to run a credit check, a credit enquiry may appear on your credit file, and this may affect your credit score. However, this doesn’t mean that if you have had problems in the past we’ll automatically reject your Application. We’re more interested in your recent history and your current capacity to repay the loan.

What’s the minimum information I need to provide?

We need to do a few things: we need to verify who you are; we need to do some basic credit enquiries; and we need to check you can afford the loan you’re asking for. During the Application process, we will ask you to provide the following information:

– Your Driver’s Licence Number or your Medicare Card number.
– A valid mobile phone number that is capable of receiving an SMS.
– Your Banking details.
– If you receive Centrelink income, you must provide an income and deductions statement from Services Australia

Why do you ask me to enter my internet banking details?

Providing these details sends to us a categorized set of your bank statements from the last 90 days. This allows us to accurately assess your current financial situation and make an informed and fair decision.

Who sees my internet banking log-in details?

No person can access your internet banking details. When you enter your banking credentials on our website they are immediately encrypted. The encrypted details are then passed to Credit Sense Australia Pty Ltd. They are stored in a highly secure data centre which has a single use, to generate a read-only data-feed which we will use to assess the affordability of the loan.

What happens to my internet banking details after I enter them on your website?

As an organisation, security of data and prevention of fraud are fundamental to us. We are committed to using practices to ensure that our services are provided within a secure environment. Your internet banking details are encrypted and held securely by our professional service providers. Our partner, Credit Sense Australia Pty Ltd, and us, are permitted read- only access to your current account, so will only ever be able to view your account. We do not have the ability to change any of your banking details or set up standing orders/direct debits. All data is securely handled in accordance with data protection laws and our privacy policy.

What happens to the bank statements we obtain?

They will be used by us to make lending decisions about you and stored by us as long as necessary to assist us in managing your account. It will be also stored by Credit Sense Australia Pty Ltd.

What will my bank say about me entering my log-in details into your website?

We would recommend that you review the Terms and Conditions of your internet banking provider, before you decide to submit your banking credentials. We stress that security is of paramount importance, we would especially mention that:

-Your data is encrypted in transit.
-We do not have any functionality over your bank account
-We only have access to a read-only service.

How long does it take?

Yes, you are able to make an early pay out without any penalty charges. However, if you do choose to pay out your loan in order to apply for another loan, you will be subject to another assessment, and we cannot guarantee that you will be approved for a new loan. 

We assess your financial position from your loan history, current bank statements and credit file.

Fees and Repayments

How much does it cost?

Our costs are straight forward. If you have any questions about our fees, please don’t hesitate to contact us:


SACC : Establishment Fee: 20% of the loan amount 


Monthly Fee: 4% of the loan amount 


MACC Establishment Fee $400.00 


NPR (Compound Interest) P.A: 48%


Late Fees that may apply:

Direct Debit Dishonour Fee: $35 

What happens if I can't repay on time?

Importantly, contact us as soon as you realise you may have difficulty repaying us on time. There are additional charges as outlined above that may be payable on outstanding balances.

When are the direct debits taken

We will schedule your repayments to be debited on the days your income is credited to your bank account. Direct debits take two business days to process on our systems. If a debit needs to be rescheduled, we will need to be notified before 4pm (AEST) the business day prior.

Loan Features

Can I repay early?

Yes you can! There are no penalty fees or charges for making early payments. Card payments will be received instantly.

Can I borrow again?

Yes you can. If you have repaid your previous loan in full you will still be subject for an application assessment should you make one, and if approved you may be eligible for some benefits as an existing customer.

Information Security

How safe is my financial information?

Your privacy and security is important to us. We employ the same standards as banks and other online payment companies to ensure that your financial information is safe and secure.

How is my information stored and protected?

All information is entered through a Secure Socket Layer (SSL), which means an encrypted connection is created between your system and ours so that any information passed between us is secure.

Do you share my information with anyone?

Please see our Privacy Policy below:

What information about me is collected and stored?

Only information that is essential for us to do business, and Information that has been provided to us via the application by you.


Can I come into a branch?

No, we are an online service only.

What is the complaints procedure at Moneyspot?

We always appreciate feedback and seek to address customer concerns as soon as possible.

When complaints are made or disputes arise we will do our best to resolve the issue at the first point of contact.

When necessary, we will ask you to write to us setting out the details of your complaint. We will acknowledge receipt of your written complaints by return email setting out our Complaint Handling procedure and who to contact for further information. We may ask you for further information to help us address your complaint.


You can lodge a complaint by phone, email or in writing.


Web Form:
Email: [email protected]
Phone: 1300 048 156

Or write to us at:

Complaints Officer Moneyspot

PO Box 1006,

Strawberry Hills NSW 2012


We aim to resolve complaints within 3 working days. If it is likely to take any longer, we will keep you informed of progress. Some situations may require an investigation requiring more time. We will keep you informed of progress.

If we can not resolve the complaint to your satisfaction, then you have the right to lodge the dispute with an independent and external dispute resolution scheme.

Moneyspot Finance is a member of the Australian Financial Complaints Authority Limited (AFCA) and you can lodge a dispute with them electronically through their website or by mail.


Australian Financial Complaints Authority Limited

GPO Box 3
Melbourne VIC 3001

Phone: 1800 931 678
Fax: (03) 9613 6399


I've encountered financial hardship during my Moneyspot loan, what should I do?

For Financial Hardship queries and applications, you can contact us here:
By Email: [email protected]
By Phone: 1300 048 156

Providing us with as much information and supporting documentation as possible will assist us in dealing with your query promptly.

We will do our best to work out a suitable arrangement with you.

Why Choose Moneyspot?

Fast application

An application takes less than 5 minutes to complete. We process your loan a short time later with the money on it’s way to your bank account in under an hour. That’s a seriously fast loan.

100% online

You don’t have the time to deal with manual loan processes. Get your bank details and ID together and you’re ready to go. You can apply 24/7 – we’re always open.

Money in a hurry

Our cash loans are not like credit cards or other forms of revolving credit. You get the money fast, you pay it off fast, and that’s it. If you need us again, just login and apply for an even faster loan.

A fair go

You generally do the right thing and pay off your debts. We won’t penalise you because you’re credit file isn’t perfect. What we look for is a recent history of repayment and affordability.

We’re responsible

We take our obligations seriously and we don’t want to lend you money if you can’t afford to repay it – this takes our total focus every day. See the FAQ for more information.

Customers first

If you need to know your current balance, the status of your loan, your repayment dates or get another loan, then you can log onto our secure client area and it’s all there.

Easy Process. No Paperwork. Get Funded In One Hour