The short answer is: of course, regulated and legitimate payday loans are legal. A payday loan is just another term given to the payday advance, small-dollar loan, or cash loan, all of which are a small, short term, unsecured loan. So, yes, the proper lending of a payday loan is legal, but you must ensure that your payday lender is fully compliant with the rules and regulations around short term lending. 

At Nimble, we’ve been lending since 2004 and have granted over 1.5 million loans to Australians. We believe that payday loans should be accessible and without the traditional barriers associated with lending money. Our customers use payday loans for things like car repair, costs associated with a wedding, or travel. 

Our application process is straightforward and easy, but we never compromise on transparency. Everything at Nimble is checked, verified and secure. 

There is no doubt that payday loans have been given a bad name over the years and this is due to companies who do not operate in a responsible manner. Nimble fully complies with all regulations around short term lending and we encourage our customers to read our completely transparent Fee Statement. 

It’s a good idea to do some research on whoever you decide to lend your loan from. Check out things like Product Review and get an understanding of other people’s experiences with the company. You should pay particular attention to things other people say around the transparency of fees and customer experience. Getting legitimate reviews from a trustworthy source should help you understand the way in which a company operates. An illegal platform is not likely to operate a review system, and this is an indication of their illegitimacy. If you have any doubts about a lender’s reputation, look for reviews and do your homework.