Beforepay is a wage advance service, not a traditional loan. It lets you access up to $2,000 of your already-earned wages before payday. The fee is a flat 5% of the amount withdrawn, paid when the advance is repaid on your next pay date.
To use Beforepay, download the app, connect your bank account for income verification, and complete an identity check. Once approved, you can request an advance within the app. Repayment is automated on your next pay date via direct debit, or you can split it into instalments over a longer period.
Beforepay has over 700,000 users in Australia and 4.8 stars in app stores. It is best used for genuine short-term cash flow gaps, such as a bill that falls a few days before your wage arrives. At 5% for 14 days, the annualised cost is high, so it is not suitable for ongoing use.
