Reinventing Payday: Fingercheck Launches New Pay On-Demand Feature
Everything today seems to be offered “on-demand”. From movies and TV shows to ordering dinner and rides across town – it’s all done at the touch of button through a variety of innovative websites and apps. So why not your paycheck? That’s the idea behind Fingercheck’s, “Pay On-Demand.” A new feature, set to launch in early 2019 that allows an employee to access earned wages ahead of their scheduled payday.
Through Pay On-Demand, employees can make a request to withdraw funds from their earned wages when they need it most. In a world where so many us live paycheck-to-paycheck, such an option would be extremely helpful.
“We’re excited to debut this new Pay On-Demand feature,” said Fingercheck CEO, Joel Kohn. “Fingercheck is about staying ahead of the curve and bringing the most innovative ideas to the Payroll market.”
All the “heavy lifting” for the Pay On-Demand is automated through Fingercheck’s All-in-One time & attendance and HR platform. Participating employers can easily customize and turn on the feature directly from the Fingercheck dashboard.
Here’s How It Works:
First, an employee makes a request through the Fingercheck interface for an advance on money they’ve earned to that point (up to $500 per transaction), to be deposited via direct deposit or pay card.
Then, once the request is approved by the employer, Fingercheck automatically forwards the requested funds to the employee. A small service fee is applied on each approved request. (During setup, employers can choose to pay the this fee or have it deducted from the amount withdrawn).
So for any last minute expense, employees are always financially prepared with access to money earned whenever they need it.