Cash Converters refunds

Are you owed a refund for your payday loan?

ASIC took action against Cash Converters for failing to make reasonable inquiries into people's income and expenses before signing them up for payday loans between 1 July 2013 and 1 June 2016. As a result of this action, Cash Converters had to refund $10.8 million to consumers who took out loans in this period that were unsuitable for them.

The remediation program formally ended on 6 November 2017 and around $10.5 million was successfully refunded. Any amounts that could not be refunded to consumers were donated to a financial literacy program, as agreed with ASIC. 

Here we explain who was entitled to a refund.

Who was entitled to a refund from Cash Converters?

If you received a Cash Converters loan between 1 July 2013 and 1 June 2016, you may have been entitled to a refund if any of the following situations applied to you:

You got your loan online and already had two or more payday loans

If this is your situation, Cash Converters agreed to refund some of the fees they charged. They have now refunded most consumers under this remediation program. However, you can still contact Cash Converters if you think your loan was unsuitable or you couldn't afford it.

You got your loan online or instore and it was your first payday loan

If your first payday loan was from a Cash Converters store or their website, and you think they shouldn't have given it to you because you couldn't afford it, you can lodge a complaint with Cash Converters.

You got your loan instore and already had two or more payday loans

If you already had two or more loans before you got your loan through a Cash Converters store, they shouldn't have given you a loan unless they can prove you could afford it. If you think you could not afford the loan, you can lodge a complaint with Cash Converters.

How do I contact Cash Converters?

You can contact Cash Converters by calling (08) 9220 0892 between 8.00am and 4.00pm WST, Monday to Friday (excluding public holidays).

Alternatively, you can email Cash Converters at

If you are not happy with their response, lodge a complaint with the Credit and Investments Ombudsman.

How do I know a payday loan is unsuitable and unaffordable?

Here are some signs that you may not have been able to afford your loan with Cash Converters and you might be due a refund:

  • your expenses consistently exceeded your income
  • there were numerous reversals of payments and dishonour fees on your bank statement
  • your bank account was regularly overdrawn
  • you relied on payday loans to manage big negative bank balances
  • most or all of your income was going on loan repayments on or around the day you were paid
  • you withdrew all or most of your income on or around the day you were paid.

If any of these match the situation you were in when you took out your payday loan with Cash Converters, you should contact Cash Converters and, if you're not happy with their response, lodge a complaint with the Credit and Investments Ombudsman.

Help lodging a complaint about a payday loan

If you need help lodging a complaint, you can talk to a free and independent financial counsellor by calling 1800 007 007 during business hours, or find one near you by using our online financial counsellors map.

What will a payday loan cost you?

Our payday loans page also explains who can get a payday loan, how these loans work and your other lending options.

See what this type of loan will really cost you.

Payday loan calculator

By law, credit providers must lend money responsibly. If you think your loan from Cash Converters was not suitable for you, you can contact them to lodge a complaint.

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Last updated: 03 Sep 2018