In this article, we’ll go over all there is to know about CommBank AdvancePay in Australia, including how to get one from Commonwealth Bank (CBA) and why the credit facility is the ultimate lifesaver!
Do you desire a hassle-free AdvancePay loan application process with speedy approval timeframes to get you through the tough times till your next pay day? Commonwealth Bank of Australia (CBA) account holders can access this type of money whenever they need it without having to reapply for credit.
This is a short-term borrowing option for emergencies, but it’s not recommended because it won’t be available every pay cycle, allowing you to maintain financial control.
CommBank Account holders who are eligible for an AdvancePay loan can apply online in just a few minutes. However, depending on the amount you want to borrow, you’ll be charged a fee ranging from $5 to $50. Though your application form will show you the maximum amount you can apply for.
These loans are often dependent on your earnings, and you will be required to submit a pay stub when applying. Your final limit includes a fee that is applied to your account at the same time as your limit is set. If you apply for $500, for example, your CommBank AdvancePay limit will be $505 after a $5 fee, leaving you with $500 in accessible money.
Who may apply for CommBank AdvancePay?
CommBank introduced AdvancePay to the following customers who meet the requirements below to prevent personal overdraft, a credit card.
1. You must first sign up for NetBank.
2.Your earnings must be deposited into a CommBank Smart Access or Complete Access account on a regular basis.
3. You must earn at least $300 to qualify.
4. Limit the number of times you can use CommBank AdvancePay in a year.
How to Make a CommBank AdvancePay Application
1. Please visit the web portal https://www.my.commbank.com.au to apply for CommBank AdvancePay.
2. Fill out the form completely, including your usual salary.
3. If your limit is authorized, it should be available in seconds (but may take up to 1 business day).
4. There are no additional fees if you pay on time.