Main points to consider with Press Pay

Press Pay is an on-demand payroll service that allows employees to access their money before payday through a simple SMS service. Press Pay doesn’t charge any interest or ongoing fees for its service, just a flat-rate withdrawal fee of 5% of the money you withdraw. For example, if you decide to withdraw $ 100, you will pay a fee of $ 5.

Unlike other pay-on-demand services, Press Pay does not go through your employer. You can even use this service if your employer is not a Press Pay partner, although you can access additional benefits if your employer chooses to partner, like free withdrawals. Whether your employer is a partner or not, this service is 100% confidential and does not inform your employer of your use of the service. Press Pay also does not perform a credit check, so it will not affect your score for applying.

To sign up for Press Pay, complete a quick online application form on the lender’s website. If approved, you will receive an SMS in return confirming your contact details and eligibility within 5 minutes. Press Pay will also notify you of the amount of your winnings which you can access immediately, which is up to $ 100 of the money you earned per day instantly. All loans are then automatically repaid from your designated bank account during your next payday.

Features of Press Pay

  • Amount of the loan. Access up to $ 100 of your earnings every day.
  • Term of the loan. Repay the loans you have taken out in full during your next payday.
  • Quick application. Register with a simple online form.
  • Fast approval. You will receive a decision within 5 minutes.
  • Access salaries on demand. Access your salary as you earn it.
  • SMS service. Claim your money by simply texting the lender.
  • Confidential. Your employer will not be notified that you are using a pay-on-demand service.
  • Available 24/7. This service is available 24 hours a day, 7 days a week, 365 days a year.
  • Without interest. This service does not charge interest.
  • No registration fees. Registration for Press Pay is free.
  • No ongoing charges. There are no monthly fees or other ongoing charges for using this service.
  • No credit check. Press Pay will not check your credit report for using its service.

Advantages and disadvantages of using this service

  • Free registration
  • No interest charges
  • No hidden costs
  • Your employer does not need to be registered for Press Pay
  • Get paid in minutes
The inconvenients
  • Limited withdrawal amount

How much does it cost?

  • Flat rate. This service charges a flat rate of 5% of the amount of the draw.

Eligibility criteria

To benefit from this service, you must meet the following eligibility criteria:

  • Be employed by a company. This service is not available for the self-employed. You can be employed full time or part time as a casual worker or entrepreneur (this includes on-demand work like Uber, UberEats, Deliveroo, Menulog, etc.).
  • Minimum income. You must earn at least $ 450 in after-tax income each week. (Government benefits, including Centrelink, cannot be more than 50% of your income.)
  • Regular salary. You must have a weekly, fortnightly or monthly pay schedule. This pay should also be paid into a transaction account and not into a savings account.
  • First criteria for community review. Your spending will be assessed through your online banking to look at criteria such as spending on alcohol and gambling.

For more information on pay-on-demand services, please see our guide.