Accessing your own cash the minute you earn it is long overdue

The revolution in salaries depends on employers embracing the change. It seems likely, though, that in a few years’ time the phenomenon of waiting for pay day will seem outdated. Lord Turner of Ecchinswell, former chairman of the financial regulator, said a decade ago that what banks had been doing in the run-up to the financial crisis was “socially useless”. Financial technology start-ups were meant to be the new generation of useful lenders, but they left some onlookers sceptical about the point of their pretty bank cards and embracing of social media. Enabling people to access their own money is the embodiment of social utility — and there is no need for gimmicks.