FAQs

Employee Frequently Asked Questions

Is this a loan?

No. The advance is for wages already earned; it is not a loan, and there is no interest charged. The service is merely speeding up the payment process for pay that the you already have a legal right to.

How does it work?

You can receive a proportion of the wages you have earnt to date, without having to wait for pay day, 24 hours a days, 365 days a year. For example, instead of waiting until the end of the month, you could get a portion of your pay at the end of each week.

Is a credit search carried out?

No, as no money is being lent; the service simply provides an early payment service for the money you have already earned.

How long does it take to receive the money?

Usually, the money is in your account within 5 minutes. However, the banking network can often be a little slow, so we say 60 minutes, just in case!

How much of my wages can I ask for?

Depending on the rules set by your employer, the service can provide up to 90% of net average salary, and the minimum is £50. You can also take out more than one advance in a pay period. This means you could get an advance every day, every Friday or on an ad hoc basis.

What happens if the application is fraudulent?

It is considered fraud if you supply incorrect information on application. If the payslip does not cover the amount asked for, further action may be taken, and this can lead to a County Court Judgment or criminal record.

Employer Frequently Asked Questions

Is this a loan?

Pay Me Today is not a loan company nor acting as a payday lender. We are merely providing an “invisible” service for your employees.

How much of their wages can an employee ask for?

We can provide up to 90% of net average salary, and the minimum is £50, although we recommend setting the percentage to 50% to start with.

Employees can also take out more than one advance in a pay period. This means they could get an advance every day, every Friday or on an ad hoc basis.

Who qualifies for an advance?

Any employee that has been approved by the employer.

What happens if the application is fraudulent?

It is considered fraud if the employee has supplied incorrect information during the application process. If their payslips do not cover the amount asked for, further action may be taken in conjunction with the Pay Me Today and this can lead to a County Court Judgment or criminal record.

Who carries the risk of non-repayment?

Pay Me Today takes the hit if a worker fails to repay their advance; not the employer/agency/payroll provider.

Is it necessary to adapt IT/Payroll systems?

No. Whilst we can integrate our services with your payroll systems, we recommend you use our web app and be up and running within hours.

However, if the admin takes more than 20 minutes a week, we recommend that we integrate the IT systems.

Do I need to train my team?

No, we will provide training to ensure the employer/agency/payroll provider’s team can answer questions from workers on the service and how it works. Training normally takes 15 minutes.

How is the advance paid back?

The money and administration fee is automatically deducted from the employee's payslip.

Can an employee use a different bank account to the one their wages are paid into?

No – it must be the same bank account.

Can the employee’s credit score be affected by asking for an advance?

No - as no credit search is carried out, credit scores are not affected.

What happens to the employee’s if the advance isn’t paid back?

On the rare occasions where this happens, we always start by talking to the employee and trying to work out a repayment plan.

How many advances can an employee apply for?

As many as they like, subject to the £50 minimum and £5,000 maximum.

What if the employee wants an extension on repayment?

Under the terms of each advance it must be paid back on the first pay day after the advance is given - this happens automatically.