OnDemand Pay allows your employees early access to their pay to avoid expensive borrowing and overdraft fees when they need cash.
OnDemand Pay gives your employees more control over accessing their pay when they need it. FlexWage interfaces with Creative Planning K-Pay to calculate employees’ earned wages. There is no financial risk as the employee has already earned the pay.
How It Works
Not Just Early. It’s When You Need It Most.
OnDemand Pay is an on demand, patented, financial wellness benefit that allows Creative Planning K-Pay clients to provide early access to already earned wages, helping employees avoid expensive short-term borrowing costs and overdraft fees. Employers can improve employee productivity, satisfaction and retention, accelerate payroll card adoption and cost savings, while improving employee financial wellness. This unrivaled marriage of financial innovation and technology has achieved recognition from the Consumer Financial Protection Bureau and Pew Charitable Trust among others, and is recognized as one of the most powerful financial products for employers since the 401K.
How It Works.
Our patented system interfaces directly with Creative Planning K-Pay to calculate employees’ earned wages. Employees may access a portion of their earned wages prior to payday when cash flow challenges arise. Policies govern the frequency and percentage of the earned wages that employees may access. There is no financial risk as the employee has already earned the pay.
Employees Get:
- Immediate access to already earned wages.
- Easy mobile app for both Android and iOS.
- Low, fixed fee per transfer – just like using an ATM.
- No interest and not a loan.
- Transfer amount and fees deducted from employee paycheck
Employer Benefits:
- Reduce payroll costs through increase paycard adoption.
- Eliminate requests for manual payroll advances.
- Stop payday and check casher verifications.
- Improve employee productivity and reduce absenteeism.
- Improve employee satisfaction and retention.