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Access to earned pay at any point of the month
Employees can access up to 50% of their earned pay at any time, including the day before payday. There is no impact on your payroll process when employees access their pay throughout the month and their available balance is updated based on actual shifts worked.
Reduce reliance on credit and debt
Earned wage access is not credit: employees access their accrued wages at a fixed cost, reducing their reliance on loans and high-interest borrowing. The funds they can access are a portion of what they’ve actually earned that month to date: Earned Wage Access (EWA) is not a loan or borrowing and no interest is ever paid on funds accessed.
Smooth out fluctuations between pay periods
Access to earned wages allows employees with varying income to ensure cashflow problems do not impact their financial health. Hourly-paid staff especially have fluctuating earnings depending on shift patterns worked which makes budgeting difficult. Earned Wage Access (EWA) means that fluctuating earnings do not have to mean cashflow problems and can make longer-term financial planning much easier.
Wagestream Ltd is a company registered in England and Wales (number 11173225) at 7-9 Rathbone Street, London, W1T 1LY; registered with the Financial Conduct Authority (FCA) (FRN: 902046) as an EMD Agent of Electronic Money Institutions authorised by the Financial Conduct Authority: PayrNet Limited (FRN: 900594) and Modulr FS Limited (FRN 900573); acts as a PSD agent (FRN: 995651) of Bud Financial Limited (FRN: 793327), a Payment Institution authorised by the FCA, for Account Information Services. Registered with the ICO (reference ZA421647).
Where your funds are held by Modulr, (as indicated in the App) please see Modulr for further Modulr details.
Wagestream Finance Ltd is a company registered in England and Wales (No. 12227891) at 7-9 Rathbone Street W1T 1LY, authorised and regulated by the Financial Conduct Authority for consumer lending (FRN: 915914) and for the provision of payment services (FRN: 916866) under the Payment Services Regulations 2017.
Where your funds are held by Modulr, (as indicated in the App) please see Modulr for further Modulr details.
Wagestream Finance Ltd is a company registered in England and Wales (No. 12227891) at 7-9 Rathbone Street W1T 1LY, authorised and regulated by the Financial Conduct Authority for consumer lending (FRN: 915914) and for the provision of payment services (FRN: 916866) under the Payment Services Regulations 2017.
