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Beforepay is a short-term money provider and budgeting app that allows you to access up to $2,000 of your wages ahead of payday. You can use it to pay unexpected bills before payday or if you need quick access to a small amount of cash. With Beforepay, you can also use the app to analyse your spending habits and receive a comprehensive budget plan tailored for you. This way, you can both monitor your repayments and manage your money with a plan.
3 Things to consider about this product
Find out more about what Beforepay has to offer below.
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Product Name | Beforepay Pay On Demand |
---|---|
Minimum amount | $50 |
Maximum amount | $2,000 |
Loan term | Up to 4 pay cycles |
Turnaround time | Instantly |
Costs | 5% transaction fee per advance |
If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support.
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
Beforepay is a financing application that enables you to instantly access some of the money you're owed from work prior to payday. The app also helps you track your spending and can help you create an effective budget by analysing your past spending.
Beforepay works by accessing your salary and spending habits via your bank. Simply connect your bank to the app and access up to $2,000 of your usual salary before your next payday, which you'll have Up to 4 pay cycles to repay. Beforepay charges a 5% transaction fee on all repayments, with no interest or hidden fees.
Unlike invoice financing solutions, which exclusively cater to B2B business owners, Beforepay is accessible to most employed people. And unlike payday loans, which usually charge an establishment fee of 20% of the loan amount and 4% in monthly fees, Beforepay is an arguably lower-cost solution to accessing some of your pay early.
This platform includes the following features:
To apply for Beforepay, simply download the app to your phone, tablet or computer. All you need is the following: