Cash Converters

Cash Converters has been dedicated to making life achievable for its customers since 1984.

Beginning as a small pawnbroking venture in WA, the company evolved into Australia's premier second-hand retailer, offering accessible personal finance solutions that empower customers with choices.

With over 150 stores nationwide and 600 worldwide, Cash Converters' journey from modest origins as a family-owned pawnbroking business to an international entity has been marked by milestones that include expanding into retail, launching innovative financial products.

In 2020, Sam Budiselik took on the role of CEO, guiding the company's ongoing commitment to providing exceptional services and financial opportunities for its valued customers.

Alternative credit online

With the rise of many modern bridge loan lenders, Cash Converters has entered the market as an established presence in personal finance.

Their website is well presented and covers all mandatory requirements for the extension of credit, while at the same time is thoughtfully laid out and very quick to utilise.

Apply in just 5 minutes

An average online loan application takes no more than 5 minutes. Navigation is a breeze and the company has really succeeded in putting everything eminently logically on a scroll-down landing page that is pleasing to use.

Theirs is literally a 2 -click application process although, as a slight offset to things, it generally takes around 24 hours for the funds to appear in a client’s account.

This is acceptable, however, as the amounts loaned are slightly weightier than many of its peers in the market for bridging finance.

Very usefully, Cash Converters has an explanation of various terms used to describe various short-term loans on the home page.

While perhaps of academic interest to some, it nonetheless goes a long way towards a thorough understanding of sometimes jargonised finance speak. Being more flexible than most banks, Cash Converters does go to some effort to assist all applicants with any fast loan request.

Cash Converters payday loan and personal finance options

1. Small loan: For amounts up to $2,000 over a period of 2 to 12 months.
2. Medium loan: Amounts ranging from $2,050 to $5,000*, with repayment stretched across a span of 4 to 24 months.
3. Cash advance: Opt for an in-person application to secure immediate cash of up to $2,000, with repayments structured over 4 to 20 weeks.

Furthermore, they offer the PayAdvance choice, tailored for amounts up to $150, payable across one or two pay cycles, conveniently accessible via the MyLoans app. Your chosen route for personal loans dictates the payment approach, processing speed, and associated costs.

Centrelink restrictions

There are certain limitations to the amount one can apply for if the majority of one’s income is derived from Centrelink.

No more than 20% of one’s income can then be employed for the purposes of loan repayments. The repayment term is generous - up to 24 months - although most clients settle a lot earlier.

Who is not eligible to apply

Potential clients who are currently in a Part 9 Debt Agreement are not eligible for a Cash Converters payday loan.

Clients who were previously in a Part 9 Debt Agreement which has now been successfully settled are eligible, however, and as per Australian government legislation will be assessed on their current viability.