Company Outline
Wallet Wizard was established in 2015 and helps people in need of cash. The company has it’s headquarters in Sydney, Australia and offers a revolving line of credit with a minimum limit of $500 and a maximum limit of $8000. Wallet Wizard’s ABN is 39146525706, with Australian Credit Licence Number 400871. The company is open for business between 8 am to 8 pm , Monday to Friday and 8 am to 12 pm on Saturdays.
Online loan application process
The loan application process is simple and straightforward and can be done through an online application without any complicated paperwork. The application form can be filled on the website or through the Wallet Wizard App. To be eligible for the loan, one has to be
- at least 18 years old, and
- a permanent resident of Australia or an Australian citizen
Additionally, the following documents will be required to support the application
- All banking details including account numbers
- Two Identification numbers such as driver’s licence, Medicare card or passport number.
- Other details such residence address, work address and contact details, and information about expenses and debts.
Wallet Wizard’s clever credit engine processes the information provided in the application. It takes about 5 minutes to get the results. Wallet Wizard is committed to being a responsible lender and may have to do additional credit checks. In that case, the time required for the results may be more. Reviewing one’s credit history indicates the reliability of the borrower to the company and good credit increases the chances of approval of the loan.
The contact details you have provided to the bank may be used by the bank to contact you regarding the status of your application.
Once the loan is approved, the money may be credited to your bank account in an hour’s time (if Wallet Wizard approves the loan and the contract is accepted before 2:30 pm Sydney time on a business day). It takes major banks up to 60 minutes to deposit the funds into your account after they have been released by the lending company. Some banking organizations may take up to 3 hours to deposit the funds.
Features of Wallet Wizard loans
The Smart Engine used by Wallet Wizard to process the loan applications reduces the turn around time to about 5 minutes unless there is a requirement for further inspection based on the details provided in the application.
Funds may be released as early as within 60 minutes after the approval of the loan application. The loan amount can be quickly increased through a top-up application process.
There are no maintenance fees for the loan availed except for late payment fees. Additionally, there are no credit fees or early repayment fees, making the loan process straightforward and transparent.
There are no other loan maintenance fees apart from a late payment fee of $10 (which can also be waived if you contact the lender before the date of the automatic debiting of your payment.
An automatic debit arrangement is set up by Wallet Wizard with the bank one has nominated so that debit can be organized to coincide with your pay cycle. Monthly repayments are tailored to fit your pay cycle, ensuring ease of management. This feature makes it convenient to make the repayments without any undue stress. Wallet Wizard offers affordable repayments, making it easier for borrowers to manage their finances.
Extra payments to pay off the loan early can be made without any additional fees. Wallet Wizard does not impose any caps on faster repayment.
Positives of Wallet Wizard loans
- Quick approval process implemented through the use of Smart Engine
- Wallet Wizard works at releasing the loan funds fast so the applicant has quick access to cash
- The fees applicable are transparent, so you can mind forget nasty surprises and avoid unexpected fees.
- The borrower’s payment cycle is taken into consideration when organizing repayment schedules.
- Customer service is effective.
- Many users recommend Wallet Wizard for its straightforward and quick loan application process.