We’re into tech, so filling out an application form has never been easier. We require that you are employed, are an Australian citizen or Permanent Resident, and are over the age of 18. Our smart tech will analyse the rest of the information that you submit (we’ll automatically connect with cool tech to verify your identity, income, expenses, and other information and can give you an answer instantly.

Don’t be upset if you are declined though! Your financial situation can change over time and we might be able to consider your application in the future. If you are currently unemployed, then, unfortunately, we won’t be able to lend to you.

Making an application with My Pay Stat is easier than you think. You won’t need to upload a tonne of paperwork as we use smart tech to automatically gather and analyse the information that we require to make a responsible assessment. To get started we’ll need the easy things like your name, address, email, phone number, employment details, and banking details. Once you’re approved, you could have the funds transferred to your account in as little as 1 hour!

You can make an application with us 24 hours 7 days a week! On occasion, we may reach out to verify some information that you’ve provided which will happen on a business day.

Congratulations on being approved! Once you’ve accepted your loan terms and contracts, your funds may be transferred in as little as 1 hour if accepted during business hours. If it’s accepted outside these hours, then we’ll make the transfer on the next business day.

If your application has been approved and accepted, then we endeavour to transfer the funds to your nominated account within the hour. The days that we make the transfers are Monday to Friday between 9:30am and 4pm. You will also need to consider that your bank may have a different time to clear the funds to when we’ve made the transfer. You will receive an email notifying you that we’ve made the transfer.

Yes, like many lenders, we perform credit checks so that we can responsibly make an accurate assessment of your application. Don’t stress if you have a default on your credit file because we still may be able to help you depending on your circumstances. There may be circumstances that we will not be able to help you and that would be if you are bankrupt, in a Part IX debt agreement or Part X personal insolvency agreement, have defaulted on other short-term loans, or have an extremely bad credit history.

For a My Pat Stat Micro Loan which is a loan from $300 to $2,000, an APR (Annual Percentage Rate) doesn’t apply.

If you apply for a Macro Loan which is $2,001 to $5000, your repayments will include the principal amount you borrow from us, plus the establishment fee and interest charges based on the APR of 47%. A comparison rate of 63.22% p.a. applies to our Macro Loans.**

**This comparison rate is based on our Macro Loan for an amount of $2,500 over 2 years and a $400 establishment fee.

WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate.

My Pay Stat does not offer loans for $2,500 over a term of 2 years.

See our full Fee Statement online www.mypaystat.com.au/fees

We like to make things easy. during your application, we automatically set up the account(s) that you’d like to nominate to make repayments from. We will automatically select your primary account – that’s the account you get the majority of your income paid into – as the account to deposit your loan into and schedule repayments.

You can select multiple accounts after the primary account to make repayments (for those times where you may have overspent a little) so we have you covered. The most important part is to ensure that there are funds in the account(s) that we are processing repayments from to avoid any additional fees. 

Another handy tool we have in your dashboard is to make additional payments. This way you can pay your loan earlier and save on fees and interest.

Each repayment will come out of your account as a direct debit on your chosen repayment dates.

To help you stay organised, we’ll also send you a reminder the day before repayments are due to come out of your account.

If you are new to My Pay Stat and have a Micro Loan, the loan term ranges from 62 days to 9 months depending on the loan amount. For a Macro Loan, the loan term ranges from 62 days to 22 months. The actual loan term may vary depending on the approved amount and your individual circumstances.

If your direct debit is declined by your bank, you may be charged a dishonour fee by your bank plus a $20 payment dishonour fee by Fee Statement

For Micro Loans of $300 to $2,000:

• if your account continues to be unresolved, daily fees of $5 may accrue – on top of $20 payment dishonour fee – until the total amount owed reaches 200% of the principal amount borrowed – at which time your account is capped; and
• if rescheduling extends your new schedule to the following month, you will be charged an additional 4% monthly loan fee.

For Macro Loans of $2,001 to $5,000:</p>

• repayments are based on the assumption that the repayments will be made on time;
• if the correct repayment amounts are not made at the time specified in the loan contract, then the repayment amounts are subject to change;
• interest continues to accrue on the outstanding balance; and
• we will charge a service fee for rescheduling your loan repayments.

For further details regarding the fees that will be payable, please see our Fee Statement www.mypaystat.com.au/fees

If you think you won’t have sufficient funds in your bank account to cover your repayment, please contact us immediately by calling1300 888 223(during business hours) to stop the direct debit. By advising us ahead of time, you may avoid the payment dishonour fees imposed by your bank.

If we can’t recover the money over 60 days your account may be passed to an external collections partner. If you miss a payment, My Pay Stat can record it on your credit file – if we aren’t able to collect the money, your account may be escalated to an external collections partner for recovery. If this is the case, your credit history may be damaged for 2 to 5 years, depending on the type of negative record filed in your credit file.

If you have continuous problems with repayments, we may reduce the amount available to you on subsequent loans or make further loans unavailable. We are always careful to lend amounts that will not lead to repayment difficulty or bad credit – but we also ask you not to borrow from us if you think you might struggle to repay for any reason.

We understand that things come up and if you are experiencing Financial Hardship, then the most important thing is to reach out to us so that we can help.

Please call our team as soon as possible on 1300 888 223 or email <a href=”mailto:[email protected]” data-type=”mailto” data-id=”mailto:[email protected]”>[email protected]</a> or you can fill out the Financial Hardship Form through your dashboard.

The sooner we know about your situation, the more we can do to help you.
We are always careful to lend amounts that will not lead to repayment difficulty or bad credit – but we also ask you not to borrow from us if you think you might struggle to repay for any reason.

If you believe that you are experiencing financial hardship and may not be able to meet your payment obligation, please contact our Repayments Team on 1300 888 223 as soon as possible.

We may need to see some or all of the following:

• Separation certificate (if employment termination has occurred)
• Bank statement for the previous/current month
• Centrelink benefit papers (if applicable)
• A budget
• Proof of bills (phone, utilities etc)

If you choose to submit an application form, please attention your request to ‘Financial Hardship Request’ at&nbsp;<a href=”mailto:[email protected]” data-type=”mailto” data-id=”mailto:[email protected]”>[email protected]</a>

Once you have provided notice of your financial hardship (whether orally or in writing), we’ll endeavour to respond to you within 3 business days. In some cases, we may need further information and supporting documents. In those circumstances, we can allow you up to 21 days to provide the necessary documents to support your request.

If you would like to follow up on your financial hardship application, please feel free to contact our Complaints Team 1300 888 223

We will always provide you with a response to your financial hardship application. If you are not satisfied with the outcome of your financial hardship application, you may lodge a complaint with the Australian Financial Complaints Authority (AFCA):

Website:http://www.afca.org.au

Email: [email protected]

Phone: 1800 931 678 (free call)

In writing to Australian Financial Complaints Authority GPO Box 3, Melbourne VIC 3001

Time limits may apply to complain to AFCA and so you should act promptly or otherwise consult the AFCA website to find out if or when the time limit relevant to your circumstances expires.

For your convenience, most direct debits are scheduled between 12 am and 5 am on the morning of the scheduled direct debit date.

Please also keep in mind that it normally takes around 2 to 3 business days for a direct debit to clear.

To help you stay organised, we’ll also send you a reminder the day before repayments are due to come out of your account.

We have limited our access to read-only access, which means we are not authorised to move any money or make any changes to your account. We will never see your internet banking passwords or your credit card number details.

When you enter any login information on our site, it’s done through Secure Socket Layer (SSL).

This means an encrypted connection is always created between your browser and our servers. And it’s kept encrypted at all times.

We only store information that’s required by law – which also saves you the trouble of updating, syncing or uploading any financial information manually.

We are dedicated to making sure that our products and services exceed your expectations. We value the feedback you have. If we have fallen below expectations, then we would like to hear about it. Here’s how to get in touch with us:

• Call or contact one of our Customer Care team members on 1300 888 223
• Email any feedback and complaints to: [email protected] 
• Write to:

Capital & Centric Funding Dispute Resolution Officer

PO Box 246

Roselands

NSW 2196

More information is available from our feedback & Complaints page.

Yes, your primary source of income will be a predominant factor as well as your living expenses when we are assessing your financial situation.

You can still apply for a loan with us. We take many things into consideration when assessing your application.

All applications that are currently in a Part 9 Debt Agreement do not qualify for a loan with us. If you were previously in a Part 9 Debt Agreement and have been discharged, then we can assess your application. You may be approved if you pass the decision points of the application.

Your main source of income must not be from Centrelink when you make an application with us.

In order to make an assessment on your loan application, we are required to review your bank statements covering the last 180 days. This will be done securely during the loan application. We will only assess applications that have completed this important step in the application process.

During this process, your bank login details are not stored. Credit Sense is a 100% Australian owned and operated company and subject to and compliant with all Australian laws.

Yes. In order for us to process your application, you will need access to your online banking. If you do not have access to online banking, please speak to your bank prior to your application. If you do not have online banking at all, then unfortunately, we cannot process your application.

We take many things into consideration when assessing your application. We consider your financial situation, credit file and spending habits. If your application has been declined with us, then it’s because we are responsible lenders and don’t want you to be in a financial hardship situation. 

To work out if you’re eligible for another loan with us, you could email our team on [email protected] or you can give us a call on 1300 888 223.

*Decision time is based on an application that has been made during business hours and meets lending criteria 

**Application times may vary depending on your specific application