Beforepay launches nationwide roll-out of its Tax Refund Advance product

ASX-listed Beforepay has announced the nationwide launch of its Tax Refund Advance (TRA) product for the 30 June 2023 tax season in collaboration with H&R Block. This nationwide rollout of the TRA product will allow Beforepay access to new customer segments and will continue to accelerate the company toward profitability.

Beforepay began piloting the TRA product in selected geographic areas in late 2022 and now the full launch will see the TRA product offered to eligible customers in participating H&R Block offices across Australia. The TRA product will enable eligible customers to advance up to $1,000 against their estimated tax refund through the Beforepay platform.

Similar to Beforepay’s flagship Pay Advance product, the TRA product will charge customers a flat 5% fee with no interest payments or late fees. Customers are required to meet the eligibility criteria for both H&R Block and Beforepay’s TRA product (although eligibility criteria may vary over time).

Beforepay believes the nationwide launch of the Tax Refund Advance product will further strengthen the company’s position as a mission-focused organisation dedicated to helping customers manage their short term cash flow needs in a safe and affordable way.

All new TRA customers will have access to the Beforepay app, including its spending insights and budgeting tools.