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Online Lender: MyPayNow



Product Highlights

  • Get access to up to 25% of your salary
  • Single fixed transaction fee of 5%
  • No ongoing costs

Company Brief

MyPayNow is a pay-on-demand service that enables you to receive up to 25% of your salary (with a maximum amount of $1,250) before payday, without contacting your company. The company was founded in 2019 with an office address in Queensland 4217, Australia. You may reach customer support anytime and any day through an email. The company’s ABN is 2147483647, with Australian Credit Licence Number 635410909.

Pay Advance: Borrow funds equivalent to up to 25% of your salary

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Min Loan Term Max Loan Term
Payday Loan 5% Fixed one-time fee Enquire on MyPayNow’s site directly 25% of your current salary Instantly Enquire on MyPayNow’s site directly

next payday

There are no provided information on MyPayNow’s website about minimum loan amounts, minimum loan repayment terms, establishment fees, monthly fees, default fees, or early repayment fees. All these information should be enquired directly on MyPayNow’s customer hotline.

Note: All information included here on Friendly Finance is accurate and in line with the data on MyPayNow’s website as of November 2023.

Breakdown of all fees for each loan product

The only fee associated with MyPayNow Pay Advance loans is the 5% one-time fee for the amount taken on your next scheduled payday. There are no late payment fees, dishonour fees, or direct-debit fees imposed by MyPayNow on its borrowers.

Application Process

Application for Pay Advance loans is conducted online through the company’s website or its mobile app. To begin, you need to set up an account by providing the following details:

  • Mobile Phone Number
  • Valid email address
  • Valid Australian ID
  • The date and amount of your most recent payslip
  • Your online banking information and bank statement.
  • A bank account into which your salary is deposited

To qualify, you need to meet the following criteria:

  • You must be 18 or older.
  • Have employment (part-time or full-time)
  • Earn a minimum of $450 per week/$900 per fortnight.
  • Maintain a consistent pay cycle.
  • Have a bank account (not a joint account) with at least 70 days of transaction history and two months’ pay put into it.

The purpose of sharing your online banking is so that lenders can run soft credit checks and check that you have a regular income. This is to ensure you can pay back your loan with the additional fees. Loans to people with a bad credit score are risky and lenders need to adhere to responsible lending laws.

Application approval turnaround time will only take minutes. You will be able to obtain a salary advance immediately after completing the application. MyPayNow will deposit your funds using the most recent NPP payment technology, which means cash will clear immediately. If NPP is not accessible at the time of payment, the company will immediately notify you and you will receive the money at a different time.

Notable Loan Product Features

MyPayNow is a wage advance service and is known as a payday lender. One of the promising features of the MyPayNow Pay Advance loan is that application approval and fund disbursement usually takes only minutes to an hour. MyPayNow also schedules direct debits to match your next pay date. If you made several payday advances since your previous pay, they will all be automatically deducted from your account on the following payday. This makes it easy as you don’t have to remember to make repayments.

The company also offers flexible repayment options and terms for users missing their payments. When you request a delay using the app, your chosen payment will be rescheduled to be deducted on the day of your next salary cycle, with no additional cost to the borrower. This is useful for people in desperate situations or having financial difficulties.

The Company: MyPayNow



  • Online application process through the MyPayNow website or app.
  • Fully transparent one-time fee of 5% per amount advanced.
  • Flexible payment term, and option to pay on the next payday cycle at no cost.
  • Auto-debit arrangement matching the borrower’s pay cycle.
  • Friendly customer service team.


  • Some customers have expressed a delay in response from the company’s customer service which can only be reached through email.

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