MyPayNow Limits Explained: How Much Can You Access and Why?

Wondering how much you may be able to access through MyPayNow, or why your available amount differs from someone else’s?

We calculate your MyPayNow limit primarily using your verified net pay and an assessment of your financial circumstances. If you are eligible, you may be able to access up to 25% of your net wage, subject to a maximum advance of $2,000.

Your actual approved amount may be lower, and approval is never automatic.

In this guide, we explain how our limits work, what may affect your available amount and what to consider before requesting an advance.

What Is the Maximum MyPayNow Limit?

The maximum amount you can access through MyPayNow is $2,000.

However, this does not mean we will approve every customer for $2,000. We generally calculate your individual limit as up to one-quarter of your verified net pay. The $2,000 cap still applies if 25% of your pay is higher than this amount.

For example:

• If your verified net pay is $600 per week, 25% is $150, so your potential maximum before assessment would be up to $150.

• If your verified net pay is $1,200 per fortnight, 25% is $300, so your potential maximum before assessment would be up to $300.

• If your verified net pay is $4,000 per month, 25% is $1,000, so your potential maximum before assessment would be up to $1,000.

• If your verified net pay is $10,000 per month, 25% is $2,500, but the maximum available amount would remain capped at $2,000.

These figures demonstrate only how the 25% calculation works. They are not approval examples or guarantees.

Your available limit will depend on our assessment and the information we identify through your account.

How Do We Calculate Your MyPayNow Advance Limit?

We use information about your employment, wage deposits and recent bank account activity to assess whether our product may be suitable and affordable for you.

Our assessment process may consider:

• The amount of your regular employment income.

• How frequently you are paid.

• Whether we can identify regular wage deposits in your bank account.

• Your employment and account history.

• Your recent spending and repayment patterns.

• Indicators that an advance could cause financial hardship.

• Whether you meet our wider eligibility criteria.

Our Target Market Determination explains that our assessment system uses verified identity details, employment information and bank statement data to confirm eligibility and determine an approved limit.

With your consent, we access bank transaction data through a secure third-party provider. We use this information to verify the amount, source and frequency of your income and to assess account behaviour, including possible indicators of financial hardship.

This means that two people earning similar amounts may not necessarily receive the same limit.

Why Is My MyPayNow Limit Lower Than 25% of My Pay?

A quarter of your net wage is the upper calculation limit. It is not an entitlement or a guaranteed amount.

We may approve a lower amount if we cannot verify all of your income, identify irregular wage deposits or determine that a smaller amount is more appropriate based on affordability and suitability.

We may also be unable to approve an application if:

• We cannot identify regular employment income.

• Your latest wage is below our minimum requirement.

• Your pay cycle is irregular.

• The information you enter does not match your bank transaction data.

• Recent account activity raises repayment or affordability concerns.

• You do not meet our wider eligibility criteria.

Our system uses the employment and income details identified when assessing your bank statement data.

By limiting the amount available, we aim to reduce the risk that repaying an advance leaves you without enough money for your other expenses.

What Income Do We Use?

We look for regular employment income paid into an eligible Australian bank account.

Our current minimum take-home employment income requirements are:

You must also be at least 18 years old, be a working Australian resident and meet our other eligibility and assessment criteria.

Meeting the minimum income requirement does not guarantee approval. It is only one part of our broader eligibility, suitability and affordability assessment.

Does Centrelink Income Count Towards the Limit?

You cannot use MyPayNow if Centrelink payments are your only source of income.

We provide a wage advance service, so you must receive regular income from an employer.

If you work part-time and also receive government benefits, you may still be considered if your employment income independently meets our minimum requirement and you satisfy our other approval criteria.

We must be able to identify and verify your regular employment income through your bank transaction data.

Can Your MyPayNow Limit Increase?

We may reassess your limit if your verified employment income changes.

For example, if you receive a pay rise, when reassessed, you'll be assessed on your updated employment information.

A higher income does not automatically result in a higher limit or approval for a particular amount. Our decision will still depend on your verified information and the outcome of our full assessment.

It is important to provide accurate and current information rather than estimating your income or entering a salary you expect to receive in the future.

Why Has My Limit Changed?

Your approved limit reflects the information available to us at the time of assessment. It may change when your income, employment information, bank account activity or financial circumstances change.

Possible reasons include:

• Your latest wage was higher or lower than usual.

• Your pay frequency changed.

• You moved to a new employer.

• We could not identify a wage deposit.

• Recent transactions affected our affordability assessment.

• Your employment details need to be updated.

• You already have an outstanding MyPayNow balance.

After taking an advance, you cannot request another one until you have repaid the outstanding balance in full.

For information specific to your account, check the available amount displayed in the MyPayNow app or contact our customer support team. General online examples cannot explain the result of an individual assessment.

Can You Choose an Amount Below Your Approved Limit?

Yes. You do not have to request the full amount available to you.

Once you are approved, you can choose your approved limit or select a lower amount.

Choosing a smaller amount can reduce both your repayment and the overall cost of the advance.

Before selecting an amount, consider the exact expense you need to cover and how the repayment may affect your next pay.

Accessing only what you reasonably need may make it easier to keep enough money available for rent, groceries, utilities, transport and other essential commitments.

How Much Does a MyPayNow Advance Cost?

We currently charge:

• A fixed credit charge equal to 5% of the amount advanced.

• Interest at 24% per annum on the outstanding balance.

• Interest for a maximum of 62 days.

For example, a $100 advance held for seven days would include a $5 fixed credit charge and approximately $0.48 in interest, resulting in a total repayment of $105.48.

If the same $100 advance remained outstanding for 28 days, the total repayment would be approximately $106.84. The exact amount may vary slightly due to calculation and rounding methods.

The amount you repay will depend on how much you access and how long the balance remains outstanding.

Consider the Effect on Your Next Pay

A wage advance brings forward part of your upcoming pay. It does not increase your overall income.

In the usual course, we automatically schedule your repayment by direct debit on or around your next payday.

Depending on your circumstances and pay cycle, you may be able to request a repayment delay or split your repayment across two pay cycles through your account. Conditions apply, and these options may not be available in every situation.

Before requesting an advance, ask yourself:

• Will I still be able to cover essential expenses after the repayment?

• Is this for a specific short-term need rather than an ongoing budget gap?

• Could I use available savings or delay the expense?

• Could the biller or service provider offer me a payment plan?

• Am I likely to need another advance immediately after making the repayment?

If repaying the advance would leave you struggling to afford essential expenses, our product may not be suitable for you.

Our product is not designed for customers who are experiencing financial hardship or who cannot make repayments without hardship.

What Can You Do if Your Available Limit Is Not Enough?

Do not enter inaccurate information or try to work around our assessment process.

Instead, consider whether you can reduce, postpone or manage the expense another way.

Your options may include:

• Asking the provider for a payment arrangement.

• Using available savings.

• Reviewing non-essential spending.

• Checking whether hardship support is available.

• Discussing the bill directly with the provider.

• Contacting a free financial counsellor.

A lower limit may mean our service is not designed to cover the full expense.

It should not be treated as encouragement to apply with several providers or combine multiple high-cost financial products.

Frequently Asked Questions

Is Everyone Eligible for the $2,000 MyPayNow Limit?

No. The $2,000 amount is our overall maximum, not the standard limit for every customer.

Your available amount is generally up to 25% of your verified net pay and remains subject to our eligibility, affordability and suitability assessment.

Can I Request More Than My Displayed Limit?

No. You can select an available amount up to your approved limit.

We base your approved limit on the employment income we identify and the outcome of our assessment.

Will a Pay Rise Automatically Increase My Limit?

Not automatically.

You can request your account be reassessed, but the outcome will depend on your verified information and our full assessment.

Can I Take Another Advance During the Same Pay Cycle?

You cannot request another advance while you have an outstanding balance.

You must repay your current advance in full before another advance may become available.

Do We Perform a Credit Bureau Check?

No. We do not make a credit enquiry on your file with a credit reporting agency.

However, we still conduct an assessment using information that may include your identity, employment, income and bank transaction data.

What Should I Do if My Income Details Are Outdated?

If you have an existing advance, contact our support team and notify us of any changes. If you do not have an existing advance, when you apply for a new advance, your employment information will be updated as part of the new assessment.

If you already have a payment scheduled, contact our customer support team for assistance.

Check Your Available Amount Carefully

Your MyPayNow limit is based on your verified income and assessed circumstances, not simply the maximum amount you would like to access.

If you are eligible, you may be able to access up to 25% of your net pay, capped at $2,000. However, the amount displayed in your account is the limit that applies to you at that time.

Before proceeding, review the fixed credit charge, interest, repayment date and likely effect on your next pay.

You can learn more about how our service works and review our current eligibility information through the official MyPayNow website.

Applying or meeting our minimum criteria does not guarantee approval.

The information provided in this blog is for general informational purposes only and does not constitute financial advice. It is not tailored to the specific circumstances of any individual. Before acting on this information, you should consider whether it is appropriate for you, having regard to your objectives, financial situation and needs.