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Earned wage access the way it should be

Sometimes people need to meet life’s demands before their regular payday. Reduce the need for your employees to access credit products such as pay day loans and credit cards.

This meaningful financial wellbeing offering enables your employees to access earned wages in a responsible way.

Earned wage access mobile
No costs or setup for your business with earned wage access

No costs or setup for your business

  • Simply a feature to turn on. Give your employees access to earned wages with no extra work or additional costs to you as an employer.
  • We fund all earned wage access transactions.
Improved wellbeing, improved workforce with earned wage access

Improved wellbeing, improved workforce

  • Differentiate your workplace against competitors, boost recruitment results and speed up time to hire.
  • Increase productivity and retention by providing a meaningful financial wellbeing offering to your employees.
Accurate, fast and efficient earned wage access

Accurate, fast and efficient

  • Continuous award interpretation and payroll calculations are used to determine an employee's available pay based on worked and approved shifts.
  • Employees can then withdraw their earned wages within seconds.
Successful earned wage access withdrawal mobile

We do the heavy lifting

Payroll processing is unaffected as deductions are automatically applied to payslips when employees access their earned wages. Their net entitlements are updated in real-time to ensure they are paid the remaining balance of their wages.

We do the heavy lifting to ensure your payroll day still runs smoothly, uninterrupted, and as efficient as always.

     

Earned wage access statistics

Results from an earned wage access survey conducted by foundU in 2021.

67%
of employees use earned wage access for groceries, utilities and other bills.

79%
of employees agree that their employer cares about their wellbeing by offering earned wage access.

60%
of employers say that earned wage access is a quick and easy employee benefit they can implement, with no cost to them.

Frequently Asked Questions

What is earned wage access?

Earned wage access is the ability to access a portion of earned wages ahead of an employee's usual payday. It gives employees a responsible way to access their pay early to meet life’s demands.

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How is earned wage access different from pay on demand apps?

Although they would appear to be similar, earned wage access and pay on demand apps are different. Pay on demand apps check your employees' income to determine how much they earn to determine how much they can access. Earned wage access is based on live data, so your employees are only able to borrow a portion of the wages they have earned.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Who can use earned wage access with foundU?

Earned wage access is only available to businesses using the foundU platform. It is a feature that can only be requested by managers for their employees during or post-implementation.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

How does earned wage access work?

Offering earned wage access to your employees through foundU is simple: 

  1. Schedule and approve shifts through the foundU platform with your normal processes.  

  2. See the foundU payroll calculator automatically calculate pay to the correct awards based on live data. 

  3. Watch your employees click to access earned wages early, visible to you through the platform at any time.  

  4. Generate your payroll as usual with early withdrawals factored in, with full visibility and no cost to you. 

Are there fees or charges for earned wage access?

Earned wage access is an optional feature that is available at no cost to employers. For employees, there is a $5.00 fee for each earned wage access transaction. To learn more, read our employee agreement.

“The earned wage access feature is cost effective, and there is no impact on us. With employees themselves able to log in and draw down on their own wages, there’s no back-end administration or even liability risks for us or our clients."

Darren Winmill

Managing Director, Omni Recruit

Earned Wage Access Darren Winmill
"Many of our guards know and use the earned wage access feature to draw down on their wages before payday - we have about 10% of every pay withdrawn in advance. Giving staff the ability to manage their own finances is the future of payroll, and I think, one of the great features of foundU."

Mandeep Singh

General Manager, National Protective Services

Earned Wage Access Mandeep Singh
"We pay workers fortnightly, which causes some to be reluctant to take on jobs. In these occasions, we let the worker know that they can actually draw down on their wages after the customer has approved the hours and it will only cost them $5.00. Most workers are happy to continue with the job since now they can access the money weekly."

Danny Sena

CEO, Australian Workforce

Earned Wage Access Danny Sena