Frequently Asked Questions
What is Once Personal Credit?
Once Personal Credit is an innovative revolving line of credit account that you can use to access cash for any purpose such as a home renovation, an overseas holiday, school fees, adult education, or just extra cash!
Simply transfer funds from your Once Personal Credit account to your regular bank account anytime via the internet. You can transfer any amount up to your credit limit, and you only pay interest on the credit you use.
Can I transfer the full balance of my Credit Limit?
Yes. You can transfer any amount up to your Credit Limit.
How can I transfer funds from my Once Personal Credit Account to my bank account?
Internet - Login to your account and go to the section “Transfer Funds”. Enter your banking details including your account name, BSB and account number. Press “Submit” and we will transfer your funds.
How long does it take for the funds to show up in my bank account?
Due to the bank clearing process, it can take up to 2 business days for funds to arrive in your bank account if we receive your request by 3pm on a business day.
Can I BPAY from my Once Personal Credit account?
Yes, you can BPAY from your Once Personal Credit account to pay off the outstanding balances of your other credit cards or personal loans. You have access to up to 14,000 BPAY billers from your account, so you can pay almost any bill.
What is the daily BPAY limit?
You can transfer up to $5,000 per day via BPAY.
Am I eligible for a Once Personal Credit account?
To be eligible for a Once Personal Credit account you must be a permanent Australian resident, be over 18 years old, earn more than $60,000 per annum and have a good credit rating.
What information do I need to apply?
If you’re over 18 years old, an Australian resident and have a personal income greater than $60,000 per annum, you are eligible to apply for a Once Personal Credit account.
To complete your Once Personal Credit account application you will need:
- Your after tax monthly income
- Your mortgage/rent/loan repayment amount
- Your latest credit card balance and limit
It will take about 5 minutes to complete the application.
How long will my application take?
In approximately 7 days you will receive notification by mail.
How much can I borrow?
Initially you will receive a credit limit up to $25,000 which is based your income, your monthly expenses and other Once Australia credit criteria. After you have been a customer for 9 months, you can apply for a credit limit increase and your request will be assessed accordingly.
What if I already have a Once Bill Credit account?
You may still be eligible for a Once Personal Credit account. Fill in an application or speak to a Once customer service representative for details.
How do I pay my Once Personal Credit account?
You can make individual or recurring BPAY® payments to us from your bank account using your telephone or Internet banking.
Alternatively, you can transfer money using Electronic Funds Transfer (EFT) using your Internet banking.
Or you can choose to authorise Once to take a direct debit payment from your nominated bank account.
How much can I repay on my Once Personal Credit account?
You can pay:
- the minimum monthly payment which is calculated as the greater of 2% of your outstanding balance, or $10
- lump sum payments anytime
- your balance in full
| What does it cost for a Once Personal Credit account? |
| Interest Rate |
14.9% p.a. ^ |
| Fees |
No monthly account keeping fees
No annual fee
No transaction fees
No early repayment fees
$150 application fee
$25 late payment fee
$5 statement reprint fee |
| Minimum Monthly Repayment |
2% of outstanding balance or $10, whichever is greater. |
| Credit Limit Available |
$10,000 to $25,000 |
^ Interest rate is variable and subject to change.
How to contact us by phone, fax, letter or email
Customer Service
P: 1 300 036 623
F: (03) 6423 8088
Once Australia Pty Ltd
PO Box 261
Devonport TAS 7310
enquiries@OnceOnline.com.au