Club Money Offers Responsible Payday Loan Options for Australians with Same-Day Approval and Payouts

Club Money Offers Responsible Payday Loan Options For Australians

In a Nutshell: The unexpected is a part of life. Every day, medical needs, car problems, or leaky roof tiles unsettle the bank accounts of consumers worldwide. Club Money shed the predatory titles and approach of most short-term payday lenders and instead offers fair loans to customers who have damaged credit. Loans range from $250 to $10,000, and can be repaid over a period of 61 days to 12 months in flexible monthly or fortnightly repayment plans. Many competitors have interest rates as high as 400%. Club Money charges a fraction of that with plans available to help Aussies acquire bigger loans for business, cars, or homes.

This past Halloween, my dog Penelope and I walked through our neighborhood to take in the sights and sounds of children enjoying the spoils of youth. Among the goblins and ghouls and crooked-tooth jack-o-lanterns was a reminder of my adulthood.

Five pumpkins stood guard along the front porch of one house. Each was decorated with a different scary face to set the mood. The last one — the scariest of all — didn’t have a face. Carved across the uneven orange surface was the universal symbol for a car’s check engine light. A shiver tingled down my spine.

Anyone who’s seen that glowing light on their dashboard knows how terrifying it can be. That little bulb can send thousands of dollars fluttering from your bank account at any given time. If you’re like many other Australians, whose budgets grow tighter as the cost of living increases, there may not be room in your account balance for a trick or a treat from the mechanic. If your credit history keeps you from getting a traditional loan, the situation may be even bleaker.

Every day, thousands of Aussies face this dilemma. Whether it’s car problems, medical issues, or other emergencies, the need for money can pop out of nowhere and throw a wrench in your entire livelihood.

Club Money is Australia’s leader in fast, convenient loans for consumers with damaged or thin credit profiles. Many payday lenders have received bad press coverage in the last few years. Club Money sets itself apart from the competition with fair lending practices and flexible repayment terms based on the borrower’s needs.

ClubMoney logo

Loans start at $250 and climb to $10,000 for long-term loans and $5,000 for short-term loans. While many payday lenders charge interest rates as high as 400% — making repayment a difficult task that starts a spiral of debt — Club Money’s 88.1% rate is a fraction of that, with same-day approval and the potential to have funds in your account only hours after you apply. That’s a handy feature at the end of the month when rent is due by the end of the day.

Loans From $250 to $10,000 with Flexible Repayment Plans

Club Money’s same-day loans give applicants with damaged credit repayment plan options that stretch from 61 days to 12 months. The online application process takes five minutes to complete. On a weekday during business hours, applicants can expect a response in about 30 minutes. Many loans can be disbursed to your bank account the same day.

Photo of different denominations of Australian Dollars

Club Money offers access to emergency funds for Australians with damaged credit.

Payments will be directly deducted from a bank account on a set day each month or fortnight. Many lenders charge a hefty fee each day a payment is late or denied by a bank. Club Money works with customers who notify them in advance of a late payment and are flexible with rescheduling payments if a legitimate need arises. From its start, the company policy has been to not charge daily default fees if you stay in contact.

Strict restrictions placed on US payday lenders regulate who can be approved for a loan and what a borrower can be charged during the repayment process. Club Money requires applicants to be Australian citizens who are 18 years or older.

You must earn a minimum of $250 per week and have at least three consecutive paychecks from your current employer. Applicants must present a bank account in their name with proper internet banking login details accompanied by a driver’s license or Medicare card number when they apply.

Loans are typically granted if your bank statement shows no reversals or dishonors of direct payments to other lenders in the preceding 90 days. ‘The applicant must hold no more than two other small amount loan contracts with other lenders. All loans must be declared on your application. A bank statement must be provided to prove wages are paid on a regular day of the week, fortnight, or month.

Another feature that sets Club Money apart from its competitors is the ability to take its lending power to the next level, beyond small, short-term loans.

Access to Major Lenders to Help You Find Loans for Business, Car, or Home

Finding a loan for a car, business, or home can be a stressful process. The required amount of paperwork and hoops to jump through can be exhausting and confusing.

Screenshot of Club Money's website.

Club Money’s website is easy to navigate and offers fast approval and payouts.

Club Money has loan counselors whose aim is to solve those issues by working with consumers to get loans completed quickly. The company has access to every major Australian lender and helps customers complete paperwork and communicates with the lender on their behalf. To make the process even easier, counselors can meet with you on your terms — at your office, home, or any venue that suits you.

Offices in Melbourne, Sydney, Adelaide, Perth, Brisbane, and Canberra means there’s likely a Club Money location nearby. Appointments can be scheduled over the phone or online.

Many small- and medium-sized business owners turn to Club Money each year for equipment finance, business overdraft, or loans to spur growth or meet payroll. Competitive rates and repayment terms make it an attractive destination for business owners with time-sensitive needs. The company says it understands the plight of growing a small business, as it once had the same issues.

Club Money is also in the process of building out a financial services platform that will be Australia’s first to refund brokerage, commissions, and other referral fees in the form of investment funds. The goal is to help Aussies learn to invest and save while improving their credit scores and financial profiles.

A Helpful Hand When Times Get Hard — and Expensive

Across the globe, payday and cash advance lenders are described as sharks and predators. While those monikers may work in the wild, in a civilized society, it’s a warning sign that danger lies ahead.

Over time, Club Money has worked to shed those labels and grow into a responsible lender that works with its clients to steer them through difficult financial times. The company’s loans have interest rates lower than many in the space, with repayment plans that work within your schedule.

So while you may still get shivers of fear from goblins and ghouls (remind me sometime to tell you about my childhood fear of the Wicked Witch of the West from the Wizard of Oz), that nasty check engine light has met its match with Club Money.

Advertiser Disclosure

BadCredit.org is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free for users, we receive advertising compensation from the financial products listed on this page. Along with key review factors, this compensation may impact how and where products appear on the page (including, for example, the order in which they appear). BadCredit.org does not include listings for all financial products.

Our Editorial Review Policy

Our site is committed to publishing independent, accurate content guided by strict editorial guidelines. Before articles and reviews are published on our site, they undergo a thorough review process performed by a team of independent editors and subject-matter experts to ensure the content’s accuracy, timeliness, and impartiality. Our editorial team is separate and independent of our site’s advertisers, and the opinions they express on our site are their own. To read more about our team members and their editorial backgrounds, please visit our site’s About page.