If you’re hunting the market for ways to get an advance on your upcoming pay, you may consider apps like Beforepay Australia. Apps like Beforepay Australia make it possible for consumers to get a portion of their salary before payday. But what’s better than this type of service is the fact that you can get payday advance loans via Cash Funds that offer more flexible loan amounts and terms.
Before you decide whether it’s apps like Beforepay or payday advance loans that are better for you, consider the following information. Below, we present everything you need to know about apps like Beforepay Australia, the most viable alternatives, pros and cons, features, eligibility criteria and where you can get funding that helps you get a cash advance before payday.
What Are Apps Like Beforepay Australia?
Australian apps like Beforepay work similarly. These are app-based lending services that provide consumers with access to a portion of their salary before payday. In most instances, consumers must settle the advanced amount within four weeks (by their next payday). There is a 5% transaction fee (although other fees may apply, depending on the provider).
While apps like Beforepay Australia may be ideal for some borrowers, others don’t find it ideal to pay off the amount in such a short period of time. If you’re one of those borrowers and would prefer to have a longer term to repay the loan and have access to higher loan amounts, considering a payday advance loan at Cash Funds is your best bet.
How Do Apps Like Beforepay Work?
Australian apps like Beforepay provide the applicant with a portion of their upcoming salary before payday. This is usually a percentage of the salary, which can vary from one provider to the next, but is usually 25% with caps on total amounts for high earners. The amount is expected to be repaid in four equal payments spanning four weeks. A 5% fee is added to the total. There’s no denying that Australian apps like Beforepay are convenient when you need cash in a hurry, but they’re usually limited in terms of the loan amount (max of $2000 via Beforepay) and come with very limited repayment terms (four weeks).
On the other hand, you can opt for alternatives to apps like Beforepay, such as payday advance loans via Cash Funds. These loans work similarly to apps like Beforepay Australia in that they can provide a cash advance before your payday, but that’s where the similarities end. Payday advance loans via Cash Funds provide flexible loan amounts of $300 to $10,000 and with very flexible repayment terms of 3 to 24 months. Interest isn’t charged on loans up to $2000, and the monthly service fee is only 4%, which is less than apps like Beforepay. Of course, loans of $2001 and more come with up to 48% interest.
Types of Alternative Loans to Apps Like Beforepay Australia
When applying for a cash advance with Australian apps like Beforepay, there’s one product on offer, but when applying for a cash advance loan, you will find that there’s a loan type for everyone at Cash Funds as follows:
Bad Credit Loans as Alternatives to Apps Like Beforepay
If you have bad credit, you may worry that you will not be able to get a loan or that the amount you can apply for will be limited. This is where alternative loans to apps like Beforepay via Cash Funds come in handy. Lenders on the Cash Funds panel will check your credit history and are often happy to provide loans to people with a poor credit rating if they meet other mitigating criteria. You can apply for a loan amount between $300 and $10,000 with 3 to 24 months to pay.
Unsecured Loans as Alternatives to Australian Apps Like Beforepay
If you would like a few more months to pay back your loan, consider opting for unsecured loans as an alternative to apps like Beforepay. These loans don’t require any collateral or co-signatory. You can get unsecured loans for between $300 and $10,000 with 3 to 24 months to pay. As the risk is higher to the lender than a secured loan (with collateral), the interest can be as high as 48% on loans over $2000 and as low as 0% on loans of $2000 and below.
Loans for Non-Traditionally Employed as Viable Alternatives to Apps Like Beforepay Australia
If you are not working a traditional 9-5 job, you might not be able to apply for apps like Beforepay Australia. But, if you receive some income through a non-traditional job, you can still apply for a short-term loan from Cash Funds if you meet the eligibility criteria. If you can prove that you have been receiving an income of at least $350 a week for more than 3 months, you can qualify for a quick cash injection that serves as an exceptional alternative to apps like Beforepay. These loans range from $300 to $10,000, with 3 to 24 months to repay, depending on the amount requested and paid out.
Payday Advances as Alternatives to Apps Like Beforepay Australia
You may not be able to get apps like Beforepay for Centrelink recipients. But if you’re willing to consider alternatives to apps like Beforepay Australia Centrelink such as the payday advance loans available via Cash Funds, you can easily get approval for your advance, even if you’re on Centrelink benefits. Of course, you must earn the minimum required salary of $350 per week, and Centrelink benefits can only make up half of that amount.
Features of Loan Alternatives to Apps Like Beforepay Australia
If you’re opting for cash advances as viable alternatives to apps like Beforepay, you will find that the loans on offer at Cash Funds share similar features as follows:
Flexible Loan Amounts Compared to Apps Like Beforepay
One reality to be aware of when it comes to Beforepay and apps like Beforepay Australia is that there are limitations regarding how much cash advance you can get. The limit on the cash advances provided by Beforepay is $2000. If you need more than that, a payday advance through Cash Funds is your best bet. At Cash Funds, you can get a payday advance of between $300 and $10,000.
More Flexible Terms Than Apps Like Beforepay Australia
If you’re using payday loans as an alternative to apps like Beforepay Australia, you will be spoiled with flexible loan terms. While Beforepay requires the cash advance to be repaid within four weeks, payday advance loans via Cash Funds can be repaid in 3 to 24 months depending on the size of the loan.
Lending Transparency
When using Cash Funds to find viable loans instead of apps like Beforepay, you can expect to deal with reputable, registered, and licensed lenders who are transparent in the lending process. This provides safety for you throughout the term of your contract.
Fees Expected on Loan Alternatives to Apps Like Beforepay Australia
Fees generally come down to interest and monthly service charges. For example, when taking out a payday advance of up to $2000 with Cash Funds, the interest cost is zero, but you can expect to pay a one-time establishment fee of 20% and then a 4% monthly charge. Cash advances of $2000 to $10,000 come with an interest of up to 48%. Beforepay only provides advances up to $2000, with a 5% charge.
Convenient Repayment Schedule Compared to Apps Like Beforepay
If you want to buy something now and pay it off, you need a little time to regenerate funds before paying each of the instalments. Unfortunately, Beforepay only gives borrowers four weeks to repay their advances. This doesn’t provide much opportunity to generate funds for the instalments. On the flip side, payday advance loans can be repaid over 3 to 24 months, depending on how much you borrow. Payday advance loans have a more borrower-friendly repayment schedule.
Advantages and Disadvantages of Alternatives to Apps Like Beforepay
Advantages of Apps Like Beforepay Australia Alternatives
Speedy Loan Application Process
Applying for a payday advance on the Cash Funds website is super quick and easy. The application form takes just a few moments to complete. And feedback is typically provided within 2 minutes.
Alternatives to Apps Like Beforepay Paid Out in 1 Hour
If you’ve been approved for a payday advance loan via Cash Funds, you can expect the funds to be transferred into your account within 60 minutes of approval.
Apps Like Beforepay Alternative Loans Terms
Payday advance loans via Cash Funds come with terms of 3 to 24 months to pay.
0% Interest on Alternatives to Australian Apps Like Beforepay of up to $2000
If you apply for a cash advance loan, you can expect to be charged 0% interest if the loan is up to $2000. Interest is only charged on loans of $2001 and more according to Australian lending regulations.
Disadvantages of Beforepay Alternative Loans
Interest Can Be Expensive
If you’re applying for a loan of more than $2000, interest can be as high as 48%.
Eligibility Criteria for Alternative Loans to Apps Like Beforepay
If you wish to apply for a payday advance via the Cash Funds platform, you must meet the following criteria:
- Applicants have to be 18 or older to apply
- Only borrowers making $350 per week are eligible
- Only legal residents and citizens of Australia may apply
- There may be an affordability assessment that must be passed
Application Process for Alternatives to Apps Like Beforepay
There are four simple steps to follow to get payday advance loans via Cash Funds as follows.
Step 1: Choose Your Loan Amount & Term
Select how much you wish to borrow, between $300 and $10,000 and the terms you prefer, between 3 and 24 months.
Step 2: Complete the Online Application Form
Click on the “Apply” button and take a few moments to input your personal details.
Step 3: Wait for Feedback (Two Minutes)
Within two minutes of submitting your application, you will be advised if a lender can assist you or not. If a lender can assist and you wish to go ahead, you will be forwarded to the lender to complete the loan setup process.
Step 4: Sign the Contract, Get the Money
Once the loan details are in place, the lender will send you a contract to sign and send back. Once this is done, the money will be paid into your account.
FAQs
Does Beforepay Work with Centrelink?
You may be able to get Beforepay with Centrelink if your benefits come to less than 50% of your income. It’s much the same when you choose payday advance loans as alternatives to apps like Beforepay Australia for Centrelink. If you’re on Centrelink, but 50% or more of your income comes from alternative sources, you may still get a cash advance.
What is the Highest Limit on Beforepay?
When applying for an advance with Australian apps like Beforepay, the highest amount you can get is $2000. If you need a cash advance of more, you can apply for payday advance loans via Cash Loans and expect to get loans of between $300 and $10,000.
Does Beforepay Provide Cash Advances to Self-Employed Individuals?
No, Beforepay does not provide funding to people who are not traditionally employed. If you need a cash advance and are self-employed, a freelancer, or earn your income through alternative means such as rental property or royalties, you can apply for payday advances through Cash Loans instead. You must be 18 years old and show that you’ve been earning at least $350 per week for the last 3 months in order to be eligible.
What Income Must You Make to Be Eligible for Alternatives to Apps Like Beforepay?
To be eligible for alternatives to apps like Beforepay, you must earn at least $350 per week.
Can I Get Alternatives to Apps Like Beforepay Australia without Credit Checks?
No, you cannot get a cash advance without a credit check due to regulatory compliance. That said, bad credit borrowers are often approved for payday advance loans.