Flexible Earned Wage Access Solutions for Employees

Access to earned pay at any point of the month

Flexible Pay offers your colleagues unprecedented access to their already-earned pay, any day of the month. This empowers colleagues by providing them with the ability to withdraw their earned wages on their own terms, helping them manage their cash flow better and avoid debt traps like payday loans.

With Flexible Pay from Wagestream, colleagues can access up to 50% of their accrued wages whenever they need it, even the day before payday. This is not a loan, credit, or high-interest borrowing. This is their earned pay, available at their fingertips via the Wagestream app. In fact, 66% of existing Wagestream members use Flexible Pay for insurance and peace of mind, confident they can safely access their earned wage early if they ever need to. Flexible Pay helps employees save money by reducing reliance on high-interest loans.

Reduce reliance on credit and debt

With Flexible Pay from Wagestream, your colleagues gain a reliable alternative to expensive loans or high-interest borrowing. Unlike a payday loan, Flexible Pay provides a safer option by giving colleagues access to a portion of their earned pay. They will gain greater financial freedom and resilience; also reducing their reliance on informal borrowing from friends and family; or credit and debt. This is about accessing the money they’ve actually worked for, based on the shifts they’ve completed. Our Flexible Pay will significantly improve your colleagues’ financial wellness, contributing to a healthier and more productive workforce.

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Smooth out fluctuations between pay periods

Cashflow problems? Not anymore. Flexible Pay from Wagestream is a financial solution for managing unexpected expenses by allowing colleagues to access their accrued earnings early.

Wagestream’s Flexible Pay solution helps to smooth out income fluctuations between pay periods. This is particularly beneficial for hourly-paid staff who often struggle with inconsistent income due to variable shift patterns. With Flexible Pay, colleagues can access their earned income when they need it the most, making long-term financial planning a whole lot easier.

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Frequently asked questions

: At Wagestream, we believe in maintaining transparency with our members. Every time your colleagues access their earned wages, they pay a nominal fixed fee of £1.95, offering them a much cheaper and more manageable solution than the alternative credit options. This is paid by the employee unless you decide to subsidise it.

: Please book a demo and speak to Sales about bespoke pricing appropriate to your size and needs.

: No. We only ever give employees access to money they have earned to that point, not to their future earnings. The FCA has confirmed that Flexible pay ‘does not involve the provision of credit.’

: Implementing Earned Wage Access or Flexible Pay at your place of work is a straightforward process. As your service provider partner, we will integrate with your existing payroll system. Your colleagues can then access their accrued wages through a secure mobile app. We will handle the logistics, including verification, security and compliance. You also get the opportunity to customise the Flexible Pay solution to fit your specific needs and policies. This flexibility ensures that your Earned Wage Access program aligns with your company’s goals while providing colleagues with the financial benefits they value the most.

: Wagestream has a revolving credit facility with an FCA authorised banking institution. This facility enables us to provide funds to your organisation to allow your colleagues to access their earned wages directly from the Wagestream app.

: Yes. They can’t access more than 50% of their earned wages, ensuring responsible use of their earned wages. You can set this lower if you wish. Furthermore, we’ve set a monthly withdrawal limit of £1,000 to maintain a balanced financial lifestyle.

: Flexible Pay has been shown to improve employee satisfaction and retention. By providing colleagues with instant access to their earned pay, you can help reduce financial stress and improve overall financial wellbeing. This, in turn, can lead to increased productivity, reduced absenteeism, and improved job satisfaction. Employers who offer Flexible Pay as a benefit can also attract and retain top talent, as it’s a unique and valuable perk. Offering early wage access also demonstrates a commitment to employee financial health, fostering a more loyal and motivated workforce.

: Earned Wage Access or Flexible Pay from Wagestream prioritises security and compliance to ensure that employee data and wages are protected. We use robust security measures, such as encryption and two-factor authentication, to safeguard all sensitive information. Wagestream complies with relevant regulations, such as the General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI-DSS). As an employer, you can trust that your employees’ wages and data are secure with Wagestream. By choosing to implement Flexible Pay with Wagestream, you can offer wage access with confidence, knowing that all transactions and data are handled with the highest level of security and compliance.

Give your people choice over when they get paid

Access to earned pay at any point of the month

Reduce reliance on credit and debt

Smooth out fluctuations between pay periods

Frequently asked questions

Get a live demo of flexible pay with Wagestream

“Having the added security of that little bit of flexibility with your wages is really useful.”