So, how do we maintain our legal compliance? Well, we hold an Australian Credit License (number 450321), which is legally ratified by the Australian Securities and Investments Commission (ASIC). On top of this, we are 100% committed to the National Consumer Credit Protection Act (2009), which is the primary body of legislation responsible for upholding legal standards an modes of conduct in financial institutions.
As a responsible lender, we’ll perform several credit checks on your finances to get a better idea of your financial position. However, this doesn’t mean that we automatically decline people with a poor credit history if they seek an instant approval loan and need cash today. In fact, we never deny people on their credit history alone. We’ll always assess other important factors, like your recent financial history and overall capacity to pay the money back. You shouldn’t be punished for a poor financial decision you made many years ago. We currently use Equifax as our third-party credit information provider.
Frequently Asked Questions (FAQ)
Naturally, many of our clients have a lot of questions regarding the specifics of our instant cash loans. Below you’ll find some answers to our most frequently asked questions.
Yes, you certainly can. We make no distinctions about types of employment; all we need is confirmation that you receive a regular income and that you meet our credit application criteria.
Do I need to pass payday loan Frankewing Tennessee a credit check?
Yes. As SpotMeNow is committed to fulfilling our obligation as a responsible lender under Australian law, all applicants are required to undergo a credit check. However, we will not deny anyone straight away if they have a ‘bad’ credit history. We are fair and equitable when assessing your ability to repay the money we lend you.
How long do I need to wait before I get the money in my account?
If you successfully get one of our loans with instant approval, then the money will be transferred directly to your chosen bank account within just a few hours. If you apply outside of business hours, then it will be sent at the earliest time on the next business day. The speed at which the money comes into your account also depends on which banking firm you are with.
How do I repay?
When you apply for one of our instant cash loans online, you will select a bank account from which we can make direct debits. This is arranged as per the repayment plan you are going ahead with and will debit from the same bank account you get your primary income paid to. You need to ensure that you have enough money in the account on the date of billing to avoid missing it.
We help you out by sending you an SMS to your phone to remind you the day before a payment is due so you can make sure you have enough in your account.
Yes. We charge a $10 dishonour fee of your direct debit is declined, and you may also get an additional fee from the bank you are with. However, you can easily avoid this by letting us know if you will miss a payment on a business day at least 24 hours before billing.
Can I repay early?
Of course – we make it easy for anyone to repay what they owe early if they choose. We get rid of any monthly fees in the event you choose to pay back the full amount.
If you want to go this route, send us an email message 48 hours before your next repayment so we can organise a final debit payment for you to make. The email to send a message to is