Frequently Asked Questions

About Ferratum

We're glad you asked!

Our Customer Service team operate Monday to Saturday between the hours of 9am-5pm (AEDT).

You can still apply for your cash loan online 24 hours a day, 7 days a week.

Ferratum is a global leader in mobile lending products, since being founded in 2005. The purpose of Ferratum is simple: are all about people and being at the forefront of the mobile revolution in lending. We offer our customers fast, user friendly solutions to short-term cash needs.

Our customers come first and our culture is centred around customer focus.  From ensuring our customers are at the forefront of everything we do, since launching Ferratum Australia we have helped thousands of Australians overcome big problems with little loans. Despite lending millions of dollars we are not content to just sit back. We are determined to ensure consumers get the best service. 

A microloan is a small, fast loan often used toward unexpected costs.  Life is unpredictable and even the best planners cannot see what expenses the future may hold.  This is why we offer a fast cash loan to assist you with your short term cash needs. We believe our small loans can solve big problems.

Microloans in Australia are also known as a cash advance, same day cash loan or a payday loan (all forms of personal loan).


Once we process your loan and give you the cash, we will send through a payment plan.  We let you choose your own payday and set up a direct debit, so the money automatically is paid when it's most convenient for you.  

We take care of everything so you can get on with your life. 

Our costs are fixed based on the amount you borrow and the term of the borrowing. You can check out our handy calculator here to check how much it will cost.

All of our costs are clearly highlighted in the terms and conditions we send you when we approve your loan. It is vital you check this closely. 


It is important to remember that the cost of your loan will never increase if you meet all of your payment schedules.

We handle repayments for you by setting up direct debits. Unfortunately, if you do happen to dishonour on these your bank may charge you a direct debit dishonour as well as Ferratum. There may also be rescheduling fees involved.

If for some reason you think a direct debit payment will dishonour contact us as soon as possible and we may be able to help or even stop the direct debit from dishonouring. Help us help you. 

Our Collections Team are always here to help. If you do get stuck trying to make repayments, please contact them as they are almost always able to work out a plan that is good for you. When it's good for you it's also good for us.

We will never try to make things hard or unfair on you and if we think you will encounter hardship in repaying a loan we won't lend to you in the first place - we don't want to see anyone struggle. However, we do also ask you to assess your own ability to repay the loan before applying.

If you do find yourself struggling to pay us back please contact our Collections Team.

Yes. We ask for a bank statement in line with government regulations and industry best practice; we must view your bank statement for the 90 day period from when you apply.  

This is how we are able to offer small loans without doing a full credit check.

Your bank statement is stored securely through encrypted servers and viewed only by us. It's safe, secure and most importantly, easier for you. 

Yes. Despite our automated system for electronic identification, sometimes we will require a copy of your drivers licence.  In this case, we will contact you directly and ask for you to send us a copy.

All completely online and paperless, of course!

To apply for a loan with Ferratum Australia, you must be over 18 years old, an Australian citizen or Australian permanent resident and have a regular income. You will also need your own email address and mobile phone number.

Once we have received your loan application it will be assessed along with your bank statement. At Ferratum, we never run credit checks and assess all appliations based on the information provided.

We are a 100% online lender which means you will never have to queue, fill out paper work or attend those annoying bank meetings. You can also do it from the comfort of your home or on the go!  How easy is that?


Sometimes due to reasons outside of our control, emails we send out may be blocked by your service provider. If you do not receive your loan documents via email after your loan is paid out to you, you can find these when you log in to your MyAccount on our website. They are located in the Loan History tab under your name.

Once we have received your completed loan application, we will have it assessed by our online scorecard system.

Usually, the whole process, from submitting your completed application to receiving your approved loan in your bank account takes approximately one hour.* 

*Subject to the processing times of your financial instution. 

Note: bank transfers can only be made between 9am and 5pm Australian Eastern Standard Time.  Outside of these hours, the payment will be processed next business day.

Nope. Never. We do not check your credit file.

Unlike some of our biggest competitors we do not use credit checks. We lend on your current spending and your ability repay the loan now - not on your past history. How good is that?

The next loan

Once your loan has been approved, the loan amount is paid directly into your bank account. You will receive a text message from us confirming that we have paid it into your nominated account.

For all major Australian banks, this can occur in minutes.  After 4pm AEST or outside normal office hours, your bank may delay the payment until the next business day. Please check the processing times of your nominated financial institution before you apply for a loan with Ferratum Australia.

Note: bank transfers can only be made between 9am and 5pm Australian Eastern Time. Outside of these hours, the payment will be processed next business day.

Awesome, thank you for paying your loan back! 

Once your final loan repayment has cleared we are happy to assess your new application. If you meet the current lending criteria, your new loan will be approved. It's as easy as that!

Unfortunately, you can only have one loan at a time. Your loan must be paid back in full before you can apply for another loan.

There are a number of ways to pay your loan off early should you wish to. Please contact our Customer Care Team to find out how.

Security & Credit Sense


Do you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to work out a payment plan

The Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.