Changes in eligibility for loans up to $2000

From 12 June 2023, new government regulations have changed the eligibility criteria for customers seeking loans up to $2000. Your loan application will be declined if you apply for a loan of $2000 or less and:


1. You entered into 2 or more loan contracts for $2000 or less over the past 90 days; OR

2. The total repayments on loans of $2000 or less exceed 10% of your net income.

No, the new regulations only apply to loans of $2000 or less.

We are now focusing on loans over $2000, however if you apply for a loan over $2000 and we assess that the loan is unsuitable for you, we may offer you a smaller amount.

Applications and Approvals

Our application process is completely online. It allows us to process your application faster and get money to you sooner. The information we ask for is designed to satisfy the regulatory obligations we have without overburdening you with detailed requirements. It’s fast, easy and convenient.

Apply now in just 5 minutes

You apply online via our website at lazermoney.com.au. You can also access our service with any mobile device.

Our online service can receive loan applications 24/7 including weekends and ALL public holidays. However, our operating hours are between 8am to 8pm (AEST).

If you are over the age of 18, possess an Australian Drivers License or  Medicare Card, and are able to provide 90 days worth of bank statements from an Australian bank account, then you are eligible to make an application with us.

So long as regular income is received in the account, we will be able to consider you for a loan. If government benefits are your only or primary source of income we will still aim to assist you in the best way we can, however cannot guarantee your loan application being approved.

In most cases, we will carry out a credit check during the Application process. If we choose to run a credit check, a credit enquiry may appear on your credit file, and this may affect your credit score. However, this doesn’t mean that if you have had problems in the past we’ll automatically reject your Application. We’re more interested in your recent history and your current capacity to repay the loan.

We need to do a few things: we need to verify who you are; we need to do some basic credit enquiries; and we need to check you can afford the loan you’re asking for. During the Application process, we will ask you to provide the following information:

– Your Driver’s Licence Number or your Medicare Card number.
– A valid mobile phone number that is capable of receiving an SMS.
– Your Banking details.
– If you receive Centrelink income, you must provide an income and deductions statement from Services Australia

Providing these details sends to us a categorized set of your bank statements from the last 90 days. This allows us to accurately assess your current financial situation and make an informed and fair decision.

No person can access your internet banking details. When you enter your banking credentials on our website they are immediately encrypted. The encrypted details are then passed to Credit Sense Australia Pty Ltd. They are stored in a highly secure data centre which has a single use, to generate a read-only data-feed which we will use to assess the affordability of the loan.

As an organisation, security of data and prevention of fraud are fundamental to us. We are committed to using practices to ensure that our services are provided within a secure environment. Your internet banking details are encrypted and held securely by our professional service providers. Our partner, Credit Sense Australia Pty Ltd, and us, are permitted read- only access to your current account, so will only ever be able to view your account. We do not have the ability to change any of your banking details or set up standing orders/direct debits. All data is securely handled in accordance with data protection laws and our privacy policy.

They will be used by us to make lending decisions about you and stored by us as long as necessary to assist us in managing your account. It will be also stored by Credit Sense Australia Pty Ltd.

We would recommend that you review the Terms and Conditions of your internet banking provider before you decide to submit your banking credentials. We stress that security is of paramount importance, we would especially mention that:

– Your data is encrypted in transit.
– We do not have any functionality over your bank account
– We only have access to a read-only service.

Yes, you are able to make an early payout without any penalty charges. However, if you do choose to pay out your loan in order to apply for another loan, you will be subject to another assessment, and we cannot guarantee that you will be approved for a new loan.

We assess your financial position from your loan history, current bank statements and credit file.

Fees and Repayments

Importantly, contact us as soon as you realise you may have difficulty repaying us on time. There are additional charges as outlined above that may be payable on outstanding balances.

We will schedule your repayments to be debited on the days your income is credited to your bank account. Direct debits take two business days to process on our systems. If a debit needs to be rescheduled, we will need to be notified before 4 pm (AEST) the business day prior.

Our costs are straightforward. If you have any questions about our fees, please don’t hesitate to contact us:

SACC : Establishment Fee: 20% of the loan amount

Monthly Fee: 4% of the loan amount

MACC Establishment Fee $400.00

NPR (Compound Interest) P.A: 48%

Late Fees that may apply:

Direct Debit Dishonour Fee: $35

Fees and Repayments

Yes you can. If you have repaid your previous loan in full you will still be subject for an application assessment should you make one, and if approved you may be eligible for some benefits as an existing customer.

Yes you can! There are no penalty fees or charges for making early payments. Card payments will be received instantly, however, bank transfers will take 1-2 business days to be received.

Information Security

Your privacy and security is important to us. We employ the same standards as banks and other online payment companies to ensure that your financial information is safe and secure.

All information is entered through a Secure Socket Layer (SSL), which means an encrypted connection is created between your system and ours so that any information passed between us is secure.

Please see our Privacy Policy below:


Only information that is essential for us to do business, and Information that has been provided to us via the application by you.


No, we are an online service only.

We always appreciate feedback and seek to address customer concerns as soon as possible.

When complaints are made or disputes arise we will do our best to resolve the issue at the first point of contact.

When necessary, we will ask you to write to us setting out the details of your complaint. We will acknowledge receipt of your written complaints by return email setting out our Complaint Handling procedure and who to contact for further information. We may ask you for further information to help us address your complaint.


You can lodge a complaint by phone, email or in writing.


Web Form: lazermoney.com.au/contact
Email: [email protected]
Phone: 1300 048 156

Or write to us at:

Complaints Officer Lazermoney

PO Box 1006,

Strawberry Hills NSW 2012


We aim to resolve complaints within 3 working days. If it is likely to take any longer, we will keep you informed of progress. Some situations may require an investigation requiring more time. We will keep you informed of progress.

If we can not resolve the complaint to your satisfaction, then you have the right to lodge the dispute with an independent and external dispute resolution scheme.

Financier Pty Ltd is a member of the Australian Financial Complaints Authority Limited (AFCA) and you can lodge a dispute with them electronically through their website or by mail.


Australian Financial Complaints Authority Limited

GPO Box 3
Melbourne VIC 3001

Phone: 1800 931 678
Fax: (03) 9613 6399

Visit: afca.org.au

For Financial Hardship queries and applications, you can contact us here:
By Email: [email protected]
By Phone: 1300 048 156

Providing us with as much information and supporting documentation as possible will assist us in dealing with your query promptly.

We will do our best to work out a suitable arrangement with you.