Fupay is one of Australia’s numerous buy now, pay later platforms, which allows you to pay for anything, anytime, using its virtual card payment system. Apps like Fupay are positioned as micro-lending products, mainly targeting millennials and zoomers with a ‘live large’ slogan encouraging you to get what you need now and pay later.
However, are they right for you? Apps like Fupay Australia offer limited loan amounts and repayment periods, and you can only use them to cover bills payable through BPAY. There are also no apps like Fupay Australia for Centrelink customers, so you may want to consider viable alternatives like loans from Cash Funds if you wish to access higher loan amounts, extended loan periods and more inclusive lending.
This guide explores what apps like Fupay are and how they work. You’ll also learn about the best alternatives to apps like Fupay Australia, their pros and cons, features, eligibility criteria and how you can access them today.
What Are Apps Like Fupay Australia?
Apps like Fupay Australia refer to buy now, pay later apps. With Fupay, you get a virtual card you can use to defer payments on expenses and purchases and repay over eight weeks. It features three categories, Fu Cash, Fu Card and Fu Bills. You can use Fu Card to make purchases worth $20 to $500 online or in-store. With Fu Bills, you can cover the cost of any bill up to $500, provided it’s payable through BPAY.
Most apps like Fupay don’t provide the borrower with any cash as the deal usually exists between the store and the provider. With Fu Cash, you can apply for loans from $50 to $200, which can be deposited into your bank account when approved. You’re charged a 5% flat fee on any amount you borrow and must repay the funds over eight weeks. Most apps like Fupay Australia require borrowers to make the maximum repayment several times.
Such loan amounts may not cover what you need, and the repayment period may be too short, which is where loan alternatives to apps like Fupay Australia come in.
How Do Loan Alternatives to Apps Like Fupay Australia Work?
While apps like Fupay offer limited amounts with short repayment periods, alternatives like loans from Cash Funds provide you with access to higher loan amounts with more extended repayment periods. You can borrow from $300 to $10,000 and repay in 3 to 24 months.
With alternatives to apps like Fupay Australia, you can use the funds however you like without restriction. You get the funds deposited into your account within hours after approval. You can withdraw and buy items from several stores, pay regular bills, rent, buy groceries, cover emergencies, repairs, home renovations or go on vacation.
Alternatives to apps like Fupay also give you access to specialised lenders who are more inclusive. Cash Funds helps Aussies with different needs, budgets, and occasions access the funding they need. Whether you have bad credit or are looking for alternatives to apps like Fupay Australia for Centrelink beneficiaries, Cash Funds got you covered!
How Much Do Apps Like Fupay Australia Cost vs. Payday Loans
Apps like Fupay usually have transaction fees, administrative costs or service fees attached to any amount you use or get. Fupay charges a 5% flat fee for using its services, but it doesn’t charge interest. You’ll make the maximum repayment severally within the eight weeks, depending on how much you borrow.
Payday loans from lenders at Cash Funds are examples of alternatives to apps like Fupay Australia, and they feature 0% interest when you borrow $2,000 and below. You’ll only pay a 4% monthly fee. You can get interest rates that don’t exceed 48% for higher amounts.
The following example provides a comparison of how much apps like Fupay cost vs. payday loans:
|Fupay||$500||5% fee||Eight weeks|
|Ferratum Money||$1,900||4% fee||3-12 months|
Types of Alternative Loans to Apps Like Fupay Australia
Depending on your circumstances, you can borrow different alternative loans to apps like Fupay from lenders at Cash Funds. These include:
Bad Credit Loans as Alternatives to Apps Like Fupay
Bad credit is no longer a financial death sentence when you need access to quick funds. Bad credit loans from lenders at Cash Funds are a suitable alternative to apps like Fupay if you’ve had a few financial troubles in the past.
You’ll get free access to specialised lenders allowing you to borrow from $300 to $10,000 with 3 to 24 months repayment periods. Instead of focusing on your past financial issues, lenders will look at your affordability when assessing your application. Such alternatives to apps like Fupay Australia can help you improve your credit score with every repayment you make.
Unemployed Loans as Alternatives to Apps Like Fupay Australia for Centrelink
Getting a quick loan can be an uphill task if you don’t have a traditional job, especially among banks and apps like Fupay. You need lenders who specialise in helping borrowers with non-traditional jobs, and you can access them through Cash Funds. Such lenders offer unemployed loans, which are more suitable than apps like Fupay Australia for Centrelink customers.
Lenders who offer unemployed loans accept all kinds of income, so you don’t have to worry about working in the informal sector or being self-employed or retired. You can easily qualify and get approved, provided you have an alternative source of income where you receive at least $350 weekly. Such sources include rental income, dividends, pension, freelance and self-employment income, and Centrelink.
Unsecured Loans as Alternatives to Apps Like Fupay in Australia
Unlike apps like Fupay, unsecured loans provide instant cash in your account to spend as you wish. You don’t require someone else to co-sign the loan with you, and none of your assets is used as collateral.
The lender takes on more risk and will charge higher interest rates than secured loan options. Unsecured loans are suitable alternatives to apps like Fupay Australia if you’re looking for small amounts in a hurry. You’ll not pay any interest for unsecured loans up to $2000. Higher loan amounts will attract an interest rate of up to 48%.
Cash Advances as Alternatives to Apps Like Fupay
Apps like Fupay can only give you cash loans of up to $200. Cash advances from lenders at Cash Funds are excellent alternatives to apps like Fupay if you’re looking for higher loan amounts. You can borrow from $300 to $10,000 and have the funds deposited directly into your account.
You can get a cash advance with bad credit regardless of your income source. All that matters is you’re eligible and can afford to repay the borrowed amount based on your monthly income and expenses.
Features of Loan Alternatives to Apps Like Fupay Australia
Some of the features that make loans from Cash Funds better than apps like Fupay include:
Higher Loan Amounts Compared To Apps Like Fupay
If you’re looking for more than $200 to cover an urgent need, apps like Fupay are not a suitable solution. Alternatives like Loans from Cash Funds allow you to borrow higher loan amounts up to $10,000.
More Extended, Flexible Repayments Than Apps Like Fupay
You only have eight weeks to repay what you borrow from apps like Fupay. You get longer and more flexible repayment deals when you borrow through Cash Funds. You can choose to repay in 3 to 24 months in frequencies of weekly, fortnightly or monthly repayments.
With Cash Funds, you can rest assured that you only work with licensed, reputable, and transparent lenders in Australia. They adhere to responsible lending regulations and always deliver on what they promise.
Most lenders providing alternatives to apps like Fupay Australia feature quick payouts within hours after approval. Ensure you apply as early as possible within the day to increase our chances of same-day payouts.
Loan Fees and Interest
When you borrow through Cash Funds, you get 0% interest on loans up to $2,000 and below. You’ll only pay a 4% monthly fee and a one-off 20% establishment fee. When you borrow above $2,000, you can expect interest rates of up to 48%.
Pros and Cons of Alternatives to Apps Like Fupay
Pros of Alternatives to Apps Like Fupay Australia
Cash Funds provides various alternatives to apps like Fupay to suit Aussies will all kinds of needs and circumstances. Since there are no apps like Fupay for Centrelink customers, lenders at Cash Fund can help fill this gap and offer you a loan, no matter your income source.
All Credit Scores Welcome
With alternatives to apps like Fupay, you don’t have to worry about your credit score when applying for a loan. Cash Funds help Aussies with all kinds of credit, from the good and the bad to the non-existent.
Cash Funds provides the ultimate convenience of borrowing money online through a quick, streamlined process. No worrying, waiting or wondering about your loan application. You only need a few minutes to fill in the online application form and get an instant lending decision.
Cons of Alternatives to Apps Like Fupay Australia
Lenders can set high-interest rates that reach 48%, especially if you have bad credit or are unemployed.
Eligibility Criteria for Alternative Loans to Apps Like Fupay
To apply for loans from lenders at Cash Funds, you must ensure that:
- You’re at least 18 years of age.
- You’re a citizen of Australia or a permanent resident.
- You earn at least $350 weekly.
- You can afford to repay the amount you borrow.
Application Process for Alternatives to Apps Like Fupay Australia
You can apply for alternatives to apps like Fupay Australia at Cash Funds through the following simple steps:
Step 1: Choose Loan Amount and Term
Start by selecting the amount you want to borrow, from $300 to $10,000 and choose a suitable repayment period from 3 to 24 months.
Step 2: Complete The Online Application Form
Completing the easy online application form lets you capture your details and help lenders verify that you qualify for a loan. Carefully capture your personal and financial information like your name, income, employment and monthly expenses.
Step 3: Get Decision In 2 Minutes
After submitting the completed application form, you’ll only wait two minutes or less to receive a lending decision. If one or more lenders accept your request, you’ll receive offers. Simply select a suitable offer, and you’ll be connected to the lender to complete the loan process.
Step 4: Sign The Loan Agreement and Receive Your Loan
Once connected to the lender, they’ll send you a loan contract to review and accept. Carefully go through it to ensure everything is in order. If satisfied with the terms and conditions, simply sign it and return it to the lender. You’ll then get funds deposited into your account within hours on the same day.
How Can You Get Money Before Payday Australia?
The best way to get money before payday in Australia is through loans from lenders at Cash Funds. They’re excellent alternatives to apps like Fupay and allow you to borrow from $300 to $10,000.
Can I Pay Bills with Apps Like Fupay?
You can only pay bills that accept BPAY through apps like Fupay. If you want funds for bills that don’t accept BPAY, consider alternatives like loans from Cash Funds.
Do Apps Like Fupay Affect Credit?
No. Apps like Fupay Australia will not affect your credit score.
How Long Do Apps Like Fupay Take to Approve?
Apps like Fupay can take up to 24 hours to approve your request. Consider alternatives like loans from Cash Funds if you’re looking for quicker approvals and decisions.
Can I Use Apps Like Fupay For Centrelink?
It may be challenging to use apps like Fupay for Centrelink because they require that you have formal employment. If you’re a Centrelink beneficiary, consider alternatives like loans from Cash Funds, where lenders accept all kinds of income when approving applications, including Centrelink and other benefits.