Money Converters, a pioneering power within the Australian fintech sector, delivering accessible, technology-driven monetary options to on a regular basis Australians, launches Cashies Mortgage.

With over 300,000 private mortgage purposes submitted by way of Money Converters previously 12 months by prospects with restricted entry to conventional banking providers, the corporate has designed a versatile mortgage product to offer shoppers the arrogance that Cashies shall be there after they’re wanted essentially the most – offering entry to credit score for many who are sometimes neglected.

The Cashies Mortgage is a line of credit score product designed for on a regular basis Australians who want entry to funds with out charges, judgement, or complexity, with mortgage quantities starting from $2,050 to $5,000. It was constructed for many who may not have an ideal credit score historical past however nonetheless need assistance managing life’s bills.

The accredited quantity turns into the client’s credit score restrict that they will redraw in opposition to as they want. As prospects repay the mortgage, they will select to redraw from their accessible steadiness with out having to reapply (topic to different situations).

The product options:

• No institution, month-to-month, or early compensation charges
• The choice to redraw, giving prospects management over how a lot they borrow and after they borrow it
• Fast and simple utility and redraw course of
• Simple administration within the Cashies My Loans app

“We’re making credit score extra accessible and versatile for part of the group that hasn’t earlier than been effectively supported by the banks,” stated Money Converters Managing Director Sam Budiselik.

“We’ve designed this on a regular basis product to fulfill folks the place they’re of their monetary journey, providing options that make sense, fixing actual life issues.

“We perceive that life doesn’t all the time go to plan, and the Cashies Mortgage can help prospects who could not have an ideal credit score historical past however nonetheless deserve entry to accountable credit score choices.”

The corporate has moved away from short-term, higher-cost lending (generally often known as ‘payday’ lending), asserting earlier this 12 months that they may not provide a Small Quantity Credit score Contract (SACC) (from 25 September 2025) to supply appropriate prospects higher, lower-cost product choices. The Cashies Mortgage is one other step within the firm’s journey as a customer-centric organisation, offering accountable, simplified borrowing choices.

As reported in H1 FY2025, the SACC mortgage e-book was lower than 18% of the Money Converters gross mortgage e-book, which was down from 32% in H1 FY2023. The tip of the corporate’s SACC product is a part of a strategic shift to an easier customer-focused product vary.