Hastee Pay is a revolutionary new mobile app, offering immediate access to a portion of your pay
when you’ve earned it.
Hastee. in 60s
Key features for employees
Access your pay immediately.
No credit check. No debt. It’s your earned pay.
No interest. This isn’t a loan.
Financial freedom to face those mid-month expenses.
What if I want to cash out more than once?
Absolutely no problem. You can cash out as often as you wish up to the amount your available balance allows, which of course will increase as you complete more work.
What happens if I change jobs?
When you change jobs, unless your new employer also offers Hastee Pay, you will have to ask them to offer us as a benefit. Please refer us to your new HR department and we will get in touch and do the rest. You will not be able to use our app until your new company is on-board with Hastee Pay.
How do I draw down my pay early?
We need your employer to be registered with Hastee Pay. At the end of the registration process your employer should send you an invitation email with a unique sign-up token. Download the app, enter the token and in a few steps you will access to the app. You will normally see a balance 24 hours after your first validated shift or work day.
How much does it cost?
I am an employer.There is no cost to you as a business or employer, Hastee Pay is a free financial wellbeing benefit. Your workers are not obliged to use Hastee Pay, its an optional benefit that allows them to access the portion of their gross income that you have set.
I am a worker.
The minimum withdrawal is £10.00 and our minimum fee is £1.00 for withdrawals up to a value of £22.00. The on-demand fee is 4.5% for larger withdrawals, for example, if you chose to get paid £100.00, the flat fee would be £4.50 – We do not accrue interest or charge an APR.
Is this a payday loan?
No it isn’t. It is the money you have already earned in your current payroll cycle – it is your pay and Hastee Pay enables you to get access to that immediately, so no more waiting for payday.
How can Hastee Pay improve productivity?
Hastee Pay has been built to benefit both the worker and the employer by doing so we create a positive multiplier effect and boost the productivity of both. By offering Hastee Pay companies profit from the improved recruitment , increased productivity, employee engagement & better retention of their staff. Our extensive market research has demonstrated that one in four people in the UK struggle to concentrate at work while thinking about their finances, one in five have wasted working hours dealing with repayments. Employers who have on-boarded Hastee Pay have reported increased retention and this ties in with our research which found that almost half (45%) of the working population would be more likely to stay with an employer who offers flexible payment. In addition, companies can set hard rules and preferences to encourage and reward productive behaviour, such as only giving staff access to their earnings for days they turn up to work on time, thus driving punctuality.
What happens with tax, ni and sick pay?
There is no change to your process; the funds advanced by Hastee Pay are deducted from that pay period’s salary along with tax, NI and any other adjustments (such as holiday pay, bonus, uniform and accommodation costs, expenses etc.) as part of your normal payroll process. Companies can set rules and preferences based on their processes and terms of employment, such as paid/unpaid holiday, sick leave, thereby ensuring neither you nor Hastee Pay are left exposed. By limiting the amount to a maximum of 50% of gross pay earned (with the ability to limit further on request), we avoid the situation where the worker has been paid more than their net pay.
What happens if any employee leaves the company?
As workers can only access up to 50% of pay they have actually earned, an employee leaving the company should never have been able to access more money than they are due (even in the absence of a notice period). Once they leave your employment they will no longer be able to get paid and any funds they have already received via Hastee Pay will be deducted as normal from their final pay cheque.
Is there any payroll risk?
No. The employer pays their employees’ wages as normal, minus what we have advanced to them, so there is no risk that we cause any delay to your staff receiving their pay from you. Hastee Pay has been built to fit seamlessly alongside your existing payroll processes. We are aware that other competing companies in our space have different ways and processes, but we know we’ve got the best process and method there is!
Is there any financial risk?
None at all. We receive the funds from the employer at the point of normal payroll (after we have paid your staff in advance), therefore we do not hold either employee or company funds. Additionally, we have the world’s first and only credit insurance policy of its type, meaning that should another company go bankrupt and not pay us, Hastee Pay is protected and it would not cause any interruption to the service we provide to your staff.
Is it difficult to set-up and run Hastee Pay?
No. Hastee Pay has been designed to require the minimal amount of time and resource to both set-up and run on an on-going basis. We are fully integrated with a range of time and attendance, workforce management, HR, payroll and accounting software platforms; if you are using one of these there is almost no administration required at all. Our integrations are growing all the time. Even if you are not using one of these platforms, it can be as easy as importing a CSV to set-up and receive a monthly deductions report containing the information you require to make the necessary adjustments within your normal payroll process (deducting the amount we have already paid to those staff who have used Hastee Pay).
What does it cost to offer Hastee Pay to my workforce?
There is no cost to you as a business or employer, Hastee Pay is a free financial well-being benefit. Your workers are not obliged to use Hastee Pay, its an optional benefit that allows them to access the portion of their gross income that you have set.
What impact does Hastee Pay have on my company cash flow?
Hastee Pay has a cash-flow neutral impact on the client (employer) balance sheets. All of our advances are fully insured (By Lloyds of London) in order to ring-fence our individual client relationships. At a time of the employer’s choosing, which is normally around the time that payroll is being processed (payroll cut-off date), all worker balances return to zero until payroll has been fully processed. During this time we also send a consolidated deductions report to the employer’s payroll department to process, safe in the knowledge that no workers can get paid by Hastee Pay until the day after the next pay day.
How much can workers cash out?
Hastee Pay allows workers to access up to 50% of their gross income as soon as they have earned it by completing a planned and validated shift or work day. During the on-boarding process, it is the employer that decides the percentage level of the gross salary that they want their workers to have access to.