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Exploring Wage Advance
June 2, 2021 @ 2:00 pm – 3:00 pm
Join Dan Corp (President of Advanced Time) and Harry Monahan III (Business Consultant with Attendance on Demand) as they explore the ins and outs of Wage Advance and Introduce our new benefit for Attendance on Demand users: Pay on Demand.
The webinar will end with a Q&A where attendees can address specific concerns or ask about topics not covered during the webinar. Register to attend using the button below.
What is Wage Advance?
Wage Advance Benefits, also called Advance Wage Payments, Earned Wage Access or Wages on Demand, is not a loan. It’s pay that the employee has already earned, so there’s no interest charged or money to be paid back.
Simply put, Wage Advance allows workers to receive pay more quickly for their daily hours worked each day. At the end of the shift, a percentage of their earned wages will be available for them to access. Then, on payday, the money advanced is deducted from the amount of their direct deposit.
The design of these offerings varies greatly. The best options will provide advances with no fees, transaction costs, or interest charges to the employees, and without the employer fronting funds or changing their payroll processes.