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Apply now and have an approval decision within minutes
Associated fees:
Flat 5% transaction fee
Example Loan Cost:
Borrow $500 → Pay $25 fee → Total repayment $525
Borrow $1,000 → Pay $50 fee → Total repayment $1,050
Repayments: Full repayment on the next payday
Best For:
✔ Employees needing quick cash between paydays
✔ People who want a lower-cost alternative to payday loans
Beforepay offers only one type of financial product, which is a wage/pay advance service. Unlike traditional lenders, Beforepay does not provide multiple loan options such as personal loans, payday loans, or credit lines. Instead, its service allows users to access their salary early in exchange for a one-time fixed fee.
However, the amount you can access, repayment terms, and eligibility may vary based on factors like income stability and spending habits.
*You can spread out your repayment across up to 4 instalments, as long as the full repayment is made within 62 days from your cash out date.
Note: All information included here on Friendly Finance are accurate and in line with the data provided on Beforepay’s website as of February 2025.
About Beforepay
📌 Founded: 2019
📌 Headquarters: Sydney, New South Wales, Australia
📌 Stock Market Listing: Australian Securities Exchange (ASX: B4P)
📌 Regulated by: Australian Securities and Investments Commission (ASIC)
📌 Core Service: Wage Advance Service (not a traditional loan provider)
Beforepay is an Australian FinTech company that provides pay advance services, allowing users to access a portion of their salary before payday. The company operates under a fixed-fee model rather than charging interest, making it a popular alternative to payday loans.
Unlike traditional lenders, Beforepay does not charge interest or late fees. Instead, it charges a flat 5% transaction fee, which is deducted from the borrower’s next paycheck.
The company went publicly listed on the ASX in 2022 under the ticker B4P and has seen steady growth in the wage advance market, processing over $500 million in pay advances.
Beforepay: Eligibility Requirements
The application process for Beforepay’s Pay On Demand is done through the company’s mobile app or you can also easily apply for a loan using this form. To process your loan application, upload the following information and requirements on the app:
- At least 18 years old
- Australian citizen or permanent resident
- Must be a salaried employee receiving regular payments
- Must have an Australian bank account with at least two consecutive salary deposits
- Wages must come from an employer (not Centrelink or self-employment)
Once Beforepay gains access to your bank account, it will determine when your pay typically arrives and how much payday cash advance you can afford. Then, you can withdraw the cash right away using your preferred banking account.
Loan or cash advance proceeds can be withdrawn instantly (provided you pass the company’s assessment).
Repayments automatically match your income schedule through an auto-debit arrangement set up by Beforepay.
Repayments can be made in four equal instalments over your next four payday cycles.
No other fees involved other than a 5% fixed transaction fee.
The Beforepay app provides a custom budget schedule to help you manage your spending.
The Company: Beforepay
There are some positives and negatives for prospective borrowers to consider before using Beforepay as an online lender. As part of the reviewing process for this page, customer feedback and common questions answered on the company website were considered for the overall assessment.
Positives
- Speedy loan application process and loan approval for users.
- App-based loan application, approval, and fund withdrawal.
- Budget tracker using the mobile app.
- Transparent and manageable fixed processing fee of 5% per amount loaned.
Negatives
- Complaints about bank connection issues.
- Unresponsive customer service.
- Not available to freelancers or Centrelink recipients.
