The application process for Wallet Wizard is done through an online application form or the Wallet Wizard app. To be eligible, you need to meet the following requirements:

• You are at least 18 years of age
• You must be a permanent resident or a citizen of Australia

You also need to provide the following information in the course of the application:

• Internet banking details
• Two types of Identifications such as driver’s licence, Medicare card or passport number.
• Your bank details such as account number
• Other details such as date of birth, residence, and work information, as well as information about your other debt obligations and daily expenses.

Your application information will be processed by the company’s loan engine. Results will typically be given in five minutes, except if the company performs extra credit checks on your loan application as part of its commitment to be a responsible lender. Viewing your credit history is essential and will indicate if you are a reliable borrower. If you have good credit, it can help you increase the chances of your loan being approved.

You will be asked to provide contact details to make sure that Wallet Wizard can update you on your application status.

Upon approval, your money will be sent to your bank account within 60 minutes (if approved and the contract is accepted before 2:30 pm Sydney time on a business day). Most major banks will deposit the funds into your account within an hour from the time the lender has released the fund. It may take a little longer (up to 3 hours) for some banking institutions.

Wallet Wizard’s notable loan product feature is that it uses a Smart Credit Engine to process all applications for Smart Loan. This results in a loan approval turnaround time of about five minutes (depending on the need for further inspection of your application details). Funds are also released by the lender within 60 minutes from the time of your approval and the contract acceptance.

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.

The company can also set up an automatic debit arrangement to your nominated bank account on a weekly, fortnightly, or monthly basis which corresponds to your pay cycle. Using automatic repayments makes monthly repayments easy and hassle-free.  There is also an option to make extra payments (without additional costs) on the loan to pay off the loan faster than the loan period. By using Wallet Wizard there is no need to worry about caps on repayments.