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Apps like MyPayNow Australia

Before you sign up for a wage advance app like MyPayNow in Australia, it’s crucial to think about whether there are any better options available to you.

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Thomas Perrotta Written By: Thomas Perrotta
Last Updated: 11/12/2025
Fact Checked

How does MyPayNow Australia work?

MyPayNow is a wage advance app that allows you to access a portion of your future payslip early, before having it deducted automatically when your pay does hit your account. In MyPayNow’s case, the amount you can access ranges from as little as $50 up to 25% of your total payslip.

Once you download their app and sign up, you can apply for your wage advance at any time and receive your funds within 60 seconds. From there, the amount you’ve advanced will be debited from your account on your next payday or you can choose to pay it off yourself before that time.

What fees does MyPayNow charge?

There are two fees charged by MyPayNow on their wage advances, which are:

  • Flat advance fee: 5% of your advanced amount
  • Interest: 24.00% p.a. until your advance is paid

This means that if you advanced $200 and your next payslip was arriving in two weeks’ time, you’d pay a flat fee of $10 and overall interest of $1.84, adding up to $211.84 in total. The amount you advance and the time you take to repay it will determine how much you pay as a flat fee and in interest.

What alternatives are there to MyPayNow?

There are plenty of options on offer if you’re looking for potential MyPayNow alternatives. Some of these include:

  • Other wage advance apps: there are other wage advance providers operating in the market, including Wagepay, MyPayFast, Wagetap and Beforepay. Each provider has its own fees and borrowing caps, so it’s worth considering which might be best suited to your situation.
  • Small cash loans: by taking out a cash loan, you could potentially expand your borrowing range to as much as $5,000 and repayment term to one to two years. You can apply for one of these loans through Savvy. Fees and interest are higher on these loans, though.
  • No Interest Loans (NILs): these loans are available to eligible borrowers who need funds for approved purposes, such as essential electronics or replacement furniture. You can borrow up to a maximum of $2,000 for these purposes or as much as $5,000 to buy a car and repay your loan without interest or fees.
  • Centrelink advance: recipients of certain Centrelink benefits may be eligible to advance a portion of their future payments. These will be deducted gradually from your subsequent instalments. It’s worth checking the Services Australia website to see whether this is an option suitable for you.

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Disclaimer:

The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.

For loans up to $2,000, an APR does not apply. The cost of the loan is an establishment fee of up to 20% of your loan amount and a recurring monthly fee of up to 4% of your loan amount. Minimum term is 16 days and maximum term is 12 months. For example, a loan of $1,000 over three months with the maximum allowable fees will have an establishment fee of $200, monthly fee of $40 and fortnightly repayments of $188.57. The total amount repaid is $1,320.00 over seven fortnightly instalments.

For loans between $2,001 and $5,000, the APR is between 21.24% (minimum) and 48.00% (maximum) per annum. Comparison rate of 65.4962%. Minimum term is 16 days and maximum term is 24 months. The cost of the loan is an establishment fee of up to $400 and monthly interest charged on the amount borrowed. For example, a loan of $3,000 over 12 months with an APR of 48.00% (comparison rate of 65.4962%) will have an establishment fee of $400 and fortnightly repayments of $165.44. The total amount repaid is $4,301.45 and total interest paid is $901.45 over 26 fortnightly instalments.

Warning: A comparison rate indicates the true cost of a loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.

Cash loan cost table:
Small (SACC) loans Medium (MACC) loans
Minimum loan amount $100 $2,001
Maximum loan amount $2,000 $5,000
Minimum loan term 16 days 16 days
Maximum loan term 12 months 24 months
Repayment schedule Weekly, fortnightly or monthly Weekly, fortnightly or monthly
Establishment fee Up to 20% of your loan amount Up to $400
Interest N/A Up to 48.00% p.a.
Monthly fee Up to 4% of your loan amount Included in the 48.00% p.a. maximum
Example loan

$1,500 loan over six months repaid fortnightly
Costs: $1,500 (loan amount) + $300 (establishment fee) + $360 (4% fees over six months)
Total cost: $2,160, repayable in instalments of $167 per fortnight

$3,000 loan over 12 months repaid fortnightly
Costs: $3,000 (loan amount) + $400 (establishment fee) + $912 (total interest over 12 months)
Total cost: $4,312, repayable in instalments of $166 per fortnight