Don't wait around for money you've earned. MYPAYFAST lets you access your pay in real time.

If you want to be able to access your wages as you earn them, rather than waiting until the end of the month, MYPAYFAST may be able to help.

MYPAYFAST allows you to access up to 25% of your earned wages instantly. This service is interest-free and only charges a flat rate fee of 5% of the loan amount.

3 things to know about this service:

  • Access up to 25% of your earned wages
  • Interest-free with no ongoing fees
  • Does not go through your employer – 100% confidential

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Costs5% of the loan amount

Main points to consider with MYPAYFAST

MYPAYFAST is a 100% confidential pay-on-demand service that allows employees to access their money ahead of payday, without having to go through their employer. With MYPAYFAST you can unlock up to 25% of your salary at any one time. And once you have repaid your loan, you are free to make another withdrawal.

MYPAYFAST is free to sign up, and has no interest charges or hidden fees. Simply pay a flat fee of 5% of the loan amount whenever you withdraw money from your salary.

To sign up, simply submit some personal information, a bank statement and connect the bank account that your regular pay goes into via MYPAYFAST's secure online system. Any money you borrow is repaid automatically from your nominated bank account on your next payday.

Features of MYPAYFAST

  • Loan amount. Access 25% of your earned wages each pay cycle.
  • Loan term. Repay any borrowings you've made in full on your next payday.
  • Quick application. Sign up online and connect your bank account easily.
  • Access wages on demand. Get access to your wages as you earn them.
  • Confidential. Your employer will not be informed that you are using a pay-on-demand service.
  • No sign-up fees. It's free to sign up to MYPAYFAST.
  • No ongoing fees. There are no monthly or other ongoing fees for using this service.
  • Interest-free. This service does not charge interest.

Pros and cons of using this service

  • Confidential
  • Free to sign up
  • No interest charges
  • No ongoing fees
  • Access your pay when you need it
  • Limited withdrawal amount
  • Not available to Centrelink applicants

How much does it cost?

  • Flat fee. This service charges a flat fee of 5% of the drawdown amount.

Eligibility requirements

In order to qualify for a MYPAYFAST pay-on-demand loan, you must meet the following eligibility criteria:

  • Aged 18 or over
  • Earning a regular income and not a recipient of Centrelink payments

You must also provide the following information:

  • Personal information (such as your name, address, etc)
  • ID
  • A recent bank statement
  • Employment information

While this is a competitive loan product, it's still a good idea to compare pay-on-demand services prior to submitting an application.

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