Optus launches IOU Credit

An first for Australian prepaid mobiles that allows customers to "borrow" $3 of credit.

Optus today announced an Australian first: allowing prepaid customers to borrow $3 worth of phone credit when they run out.

Dubbed IOU Credit, the service has been designed to provide a solution for prepaid customers who run out of credit and urgently need to make a call or send an SMS. By texting IOU to 468 (IOU), Optus will provide prepaid customers with $3 worth of credit that can be used for standard local and national calls and text messages within Australia.

The $3 will be automatically reimbursed to Optus the next time the prepaid customer recharges his or her mobile with credit.

“Optus IOU Credit means customers will not be caught short when they need to make important calls”, said Optus' Michael Smith. “Research shows us that customers feel confident using prepaid mobile as a way to control spending, however they do not like running out of credit.”

Optus says the IOU Credit service will be available to for existing and new prepaid mobile customers across all rate plans. However, any unused portion of IOU Credit expires in three days and is non-refundable, and users must have less than $1.50 in credit to use the service. Additionally, only one Optus IOU Credit can be outstanding at a time..

Tags mobile phonesoptus

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Ross Catanzariti

Ross Catanzariti

Good Gear Guide


Bruce Jamison - Good Credit


I wonder if Optus will earn anything from this added service. I think it may even spell financial loss for them. Is there any assurance that customers will not abuse the IOUs? There's always a possibility of cheating here. Nevertheless, I think it's still a brilliant idea to satisfy their customers.




Uhh they'll gain money because some people won't use the 3 dollars in the 3 days.... O_o

Sxc girl 69


Yer they will get money from this

They will get money from this because when ever u top up ur credit it takes $3 dollars off u stright away. but it is a really gud idea



I Think????

I think it is a good idea for the people that cant afford credit.
It comes in handy to when u need to make important texts or calls
for a few minutes. I was very pleased when i found out about this

Thankyou OPTUS.




how is it gettin more money.. its the moeny weve used.. so its not rippin us off




ok why is it after i get an IOU i cant ring my my time people? it says i have insafficiant funds and then i cant ring my 'my time minute' people?




they wont loose money because people cant abuse this system they can only borrow one at a time and they cant have another one until the other one is payed off.



i dont kno about other people but i used it a lot of time and till now m happy
Who cares about 3 dollors later on as long as u r out of problem now
Ur car breakdown and u cant do anything coz u r out of credit
Will u b happy to pay 3 dollor later on or stay in this trouble for 1 or 2 or 3 days

M happy,....i dont care about others

Lucky habibi



for some reason i tryed it and it isnt working :(
so i am lil bit sad a

Comments are now closed.

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide


Latest News Articles


GGG Evaluation Team

Kathy Cassidy


First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni


For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell


The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi


The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott


My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs


Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?