Rating based on 20 reviews

Cash Converters

  • Payday loans up to $5,000
  • Low-interest starting from 217.95%
  • Repayment up to 6 weeks

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Cash Converters homepage
Author Cash Converters. Screenshot of Cash Converters website.
[Accessed May 24, 2023]

About 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.

Cash Converters Services

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.

Cash Converters – Payday loan

  • Loan Type Payday loans
  • Interest Rate from 217.95%
  • Loan Amount up to $5,000
  • Repayment 30 days to 6 weeks

Benefits of Cash Converters

  • Competitive interest rates from 217.95%
  • Fast payday loans up to $5,000
  • Flexible loan term up to 24 months

Payday loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This payday loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Cash Converters find the mark with loans up to $5,000

Initiating the process is seamless through their user-friendly online application portal or by visiting a nearby physical branch.

Notably, in the year 2022, they granted over 255,000 cash loans to their esteemed Australian clientele, underscoring their commitment to aiding customers irrespective of their credit history.

A little heads up

Cash Converters will extend personal loans from $50 up to $5,000. A repayment period of 12 or 24 months does go some way towards offsetting loan repayments. There's no penalty for early settlement of a payday loan. Loans are classified as either small personal loans or medium personal loans.

A simple fee structure

Upon clicking through to apply, one encounters a final drop-down warning about borrowing, which is a feather in Cash Converters’ cap. There is a simple fee structure on loans and money borrowed is repaid at establishment fee + monthly interest.

Who is not eligible to apply

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

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.

Visit a Cash Converters store

Use their store finder to find one of their stores where they'll answer all of your questions and queries as well as help you complete a quick in-person loan application. 

man holding thumbs up

Cash Converters is a trusted & reliable provider of payday loans

In our review, Cash Converters adheres to the compliance criteria in accordance with the National Consumer Protection Act, where the granting the loan will not cause financial distress to the consumer.

✅ Cash Converters is a registered credit provider in Australia: ACL 391436

Customer Reviews & Testimonials

March 2019

Really nice to find a company that will loan you money and even give you cash for your old goods.

Sarah M
— Melbourne —

November 2018

I went to the branch to get my payday loan and they helped me quick service and happy as can be. I recommend them to everyone.

Ronald J
— Perth —

February 2019

Was a nice surprise to log on and find that I could purchase products straight off the site best part there are some really awesome deals.

Pete S
— Brisbane —

December 2018

Got the help that I needed applied for my loan and was shocked to see that my loan had been credited to my account the same day.

Jean P
— Sydney —

Cash Converters Contact

Physical Address

  • Level 18 Citibank House, 37 St Georges Terrace Perth WA 6000 Australia
  • Get Directions

Opening Hours

  • not available