Applying for a loan with Cash Train should be quick, and most of the time it is. But every so often an application that should take a day ends up taking three or four - and almost every time, it's not because anything is wrong. It's because one or two small details don't quite line up, and our team has to pause and double-check them before things can move forward.
None of these are big problems. They're all easy to avoid once you know what to look for. Here are the six that come up most often, and exactly what to check before you hit submit.
If the name on your application is slightly different from the name on your ID or your bank account - a nickname instead of your legal name, a maiden name, a typo in your address - it can hold things up while we confirm it's really you. It's a two-second fix on your end and can save a much longer wait on ours.
Quick fix: Before you submit, double check your name, date of birth and address match exactly across your application, your ID and your bank account.
We ask for 90 days of bank statements because it's the fastest, fairest way to understand your situation - not to catch anyone out. Two things trip people up here: connecting an account that isn't actually where their income and bills go (a savings-only account, for example), or a statement range that falls a bit short of the full 90 days.
Quick fix: Connect the account you actually use day to day, and check the date range covers a full 90 days before you submit.
We don’t always need to verify your ID. However, this is a common hold-up, and it's completely avoidable. A photo that's dark, blurry, or has a corner cut off can't always be verified straight away - and an expired ID can't be verified at all.
Quick fix: Take your ID photo somewhere well-lit, get all four corners in frame, and check the expiry date before you upload it.
If the income you've entered doesn't match what's actually landing in your account - or if you've left out a second job or income source - it's not treated as a red flag, but it does mean we need to check in before we can confirm your offer.
Quick fix: Look at your last few pay deposits and make sure the income you've entered on your application matches what you can see in your statements.
This one's easy to miss. If the phone number or email on your application is old, our team can't reach you for a quick verification call - and on its own, that can hold an otherwise-ready application up for days.
Quick fix: Double-check the number and email on your application are ones you'll actually see today.
If you apply again - with Cash Train or somewhere else - while your first application is still being looked at, it doesn't speed anything up. It usually does the opposite, since it's harder for either lender to get a clear picture of what's going on.
Quick fix: Give one application a chance to be assessed before you try again.
No. Almost all of these just mean we need to check something before we can confirm your offer - they're delays, not decisions.
Most complete applications are assessed within one business day.
Call our applications team on 1300 733 009 (Monday to Friday, 9am–5pm AEST, Thursday until 5:30pm AEST) or email info@cashtrain.com.au - most of these are quick to sort out once we know what needs fixing.
Once your details are ready to go, starting your application only takes a few minutes. And if you've borrowed with us before, most of this is a one-time check - get it right once and reapplying down the track is even faster.