What is Furlough?

In light of the impact of COVID-19 on companies across the UK, your employer may be able to keep you on payroll if they are unable to operate or have no work for you due to coronavirus (COVID-19). This is known as being ‘on furlough’. When on furlough, you could be paid 80% of your wages, up to a monthly cap of £2,500

You can read more about the government Coronavirus Job Retention Scheme (CJRS) and what it means to be furloughed here.

How does Wagestream help furloughed staff?

Employees enrolled in Wagestream can immediately access up to 50% of their ‘furloughed’ income through the Wagestream app if their employer has opted into Wagestream’s FSP program

Each stream costs a convenience fee of £1.75, no matter the amount.

On pay day, employees will receive their furlough payment from their employer less any streams/convenience fees made during that month.

Wagestream also offers additional content in-app that gives you accurate information about Covid-19 and what it means for your finances, as well as tools to help you supplement income and reduce costs during the ongoing crisis

Ready to Get Started?

If your employer is partnered with Wagestream, you can enroll today and start accessing your furloughed payments.