Frequently Asked Questions

We have tried to answer the most common questions which we receive about PayExpress cash loans. Please check below to see if your question has been answered or feel free to Contact Us if you have any other questions.

Loan Application process:

Am I eligible for a loan?

To be eligible for a PayExpress loan, you must be over 18 years of age, a permanent resident of Australia and currently employed. We do not approve loans for applicants whose only source of income is Government benefits or applicants who are self-employed.

How much can I borrow?

PayExpress offers loans from $250 to $2,000. We assess the maximum amount you are eligible for based on your current financial situation to help ensure all repayments easily manageable.

How do I apply and what documents do I need?

Just complete our simple online application. The whole process is online so you do not need to return any paper documents.

As part of your application, you will need to provide:

  • A copy of photo ID - you can either upload your ID as part of the application process or email to info@payexpress.net.au
  • Bank statements showing a minimum of the last 90 days of transactions for the account into which your pay is deposited so that we can verify and assess you application. You bank statements can be securely uploaded using illion Open Data Solutions (bankstatements.com.au) as part of the application process. For more details please see the Bank Statements section of the FAQ.

How long does it take?

We assess and approve loans the day your application is received and we guarantee you a same day decision. Once your loan is approved, funds are then deposited into your bank account so they are available to you by no later than 5pm the same day.

Loan Approval:

Do you do credit checks?

PayExpress practices responsible lending and a credit check may be required as part of our assessment.

When can I get another loan?

Once your existing loan has been fully repaid, you can reapply any time in the future should the need arise. It generally takes 2 business days after your last payment for your account to update. As an existing PayExpress member, all you need to do to request a new loan is log into your account (via the login button on our website) using your member number and pin and complete a new application form.

Do you need me to sign and return any documents?

We accept and use electronic signatures so there is no need for you to print or sign any documents.

How do I know that my loan has been approved?

You will receive an SMS and an email confirming all your loan details and repayments as soon as your loan is approved.

What are the benefits of being a PayExpress member?

PayExpress members enjoy many benefits and we aim to provide all our members with a simple, personalised and efficient service as possible. All members are assigned a dedicated account manager to take care of their account and help ensure highly personalised service levels are always delivered. PayExpress members also able to access higher loan amounts that increase over time upon successful repayment of loans. Our members also enjoy flexibility in managing their repayments so they can adjust repayment amounts and frequency to suit their current personal situation and needs.

Receiving your funds:

How do I get my money?

You have the option of selecting either standard funding or Express Funding – the choice is yours. If you select the Express Funding option, your money is manual deposited into your nominated bank account and is available to you immediately once deposited. If you select the standard funding option, your money is deposited via electronic transfer into your nominated bank account the same day as your loan is approved.

When will I get my money?

This depends on the funding option you have selected. If you have selected Express Funding, your money is available to you by no later than 3pm the same day your loan is approved, and in most cases a lot earlier. If you have selected standard funding, we electronically transfer the funds the same day your loan is approved and what time the funds are available to you will depend on your financial institution.

Does it matter which bank I am with?

Which institution you currently bank with does affect how quickly you receive access to your money, as all banks have different policies regarding clearance of funds. The Express Funding option is currently available for CBA, ANZ, NAB, Westpac, Bank of Melbourne, Adelaide Bank and St George bank accounts.

Repayments and costs:

How do I make repayments?

Your repayments are directed debited from your nominated bank account that you are currently paid into. Depending on your particular circumstances we can accept manual repayments into our bank account.

How long is my loan for?

As a new member the minimum repayment period for our loans is 63 days and the maximum repayment period is 90 days. The actual term of your loan will depend on your current pay cycle and the date of your application.

We are happy to adjust repayments to suit whatever preference you may have, so please feel free to get in touch and let us know.

What if I am unable to make the repayment on time?

If you are unable to make your repayment on time, please get in touch with us as soon as possible and let us know. We will try our very best to adjust your repayments to accommodate your situation so no financial pressure is experienced. Please be aware that we do need 2 business days to adjust any direct debit repayments.

If for whatever reason you do not make your repayment on time, additional costs charged at our discretion may and most likely will apply. A detailed explanation of loan costs is provided for you on the Fees and Charges page.

What are the costs of the loan and are there any additional fees?

All loan costs are explained for you on the Fees and Charges page

What interest do you charge and what is the Annual Percentage rate or APR?

Our loans are fee based and we do not charge an interest rate (as per s31A of the National Consumer Credit Protection Act 2009). As our loans are fee-based only, they do not have annual percentage rate or APR. We charge an establishment fee of 20% of the loan amount and a monthly fee of 4% of the loan amount for the duration of the loan. All loan costs are explained for you on the Fees and Charges page

Bank Statements:

Why do I need to provide bank statements?

Responsible lending guidelines require you to provide us with bank statements covering a minimum of the last 90 days leading up to your loan application date. We will begin processing your application as soon as we receive your statements.

Who is illion Open Data Solutions Pty Ltd and bankstatements.com.au?

illion Open Data Solutions Pty Ltd runs the bankstatements.com.au service and is one of Australia's largest providers of bank statement services. We use bankstatements.com.au to allow you to quickly and easily provide us with the bank statements needed to get your loan processed and approved.

Is my bank login information secure?

Your security is very important to us and we never see your bank login details. Your banking details are encrypted and sent directly from your computer to the illion Open Data Solutions bankstatements.com.au service.

illion Open Data Solutions Pty Ltd have taken all the required security steps (such as providing 256-bit bank level encryption of data, creating a 'read only' service, and closing the connection to the bank as soon as the data has been loaded), they have also had the service independently tested by an industry leading security service.
For more information see www.bankstatements.com.au/about/security

What if I don't want to use the automated bank statement service?

Using the bankstatements.com.au submission service is fast and secure. Using this service ensures that your application can be processed as quickly as possible. Unfortunately we are not able to accept statements sent to us manually.

Contacting us:

How do I get in contact with you?

You are most welcome to contact us via email, fax, phone or mail and our current contact details can be found on our Contact Page.

What if I have forgotten my membership details?

If you have misplaced or forgotten your PayExpress member details to log into your account, then you can request a pin reset

What if I have a complaint?

PayExpress aims at all times to provide our members with the very highest levels of customer service. We want all of our customers to feel has though they have had the levels of customer service and ultimately satisfaction with our loans and services that they deserve.

We encourage your feedback on all elements of our business from your initial enquiry through to our final determination - if any way you feel that you have not been given the service you deserved, please Contact Us directly and will try our very best to work the issue out with you. Our approach to resolving your complaint can be found in our dispute resolution policy which can be viewed in our Credit Guide.

If an issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority, or AFCA. AFCA provides fair and independent financial services complaint resolution that is free to consumers.

Website: www.afca.org.au
Email: info@afca.org.au
Telephone: 1800 931 678 (free call)
In writing to: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001