Due to the ongoing crisis around COVID-19, Earnings on Demand platform Hastee is giving all workers - including those in key services such as manufacturing, utilities and facility management – free access to their earned wages before pay day for the next three months.
The platform has already reported a 22 per cent week on week increase in usage, as workers access their money ahead of pay day to stock up on the essentials. Hastee currently supports more than 100,000 workers across several sectors including the NHS, care homes, hospitality and manufacturing.
Hastee is taking action to support workers so that those who either need some extra financial freedom or who have urgent additional payments, can access their earnings without having to borrow the money and pay high rates of interest either via overdrafts or other forms of high-cost credit.
The Hastee platform, which supports staff at NHS Trusts, including two London NHS Trusts (7,000 users); one of Europe’s largest food producers, Moy Park (12,000 users); one of Europe’s largest bar and restaurant groups, Mitchell and Butlers (46,000 users) and a number of care home providers (3,200 users) is always free to employers - and allows staff to access up to 50 per cent of their salaries before pay day each month for a minimal 2.5 per cent transaction fee. The first £100 withdrawal is always free of fees to everyone - however Hastee are now waiving all fees for critical workers for six months and supporting all users, across the UK for three months to help provide access to earned pay and financial wellbeing as the coronavirus takes hold across the country.
Announcing the measure, James Herbert, Founder and CEO of Hastee said: “We want to support the most important members of the workforce to focus on the enormous task at hand - whether it be treating patients in our hospitals or ensuring our food supplies remain consistent as we prepare for further restrictive measures to take hold. By waiving all fees for six months for critical staff and three months for every other business, who will need huge support to get through this, we hope we can at least take some of the financial pressure off those people who are so essential to the overall wellbeing of everyone else.”
Hastee is an award-winning Earnings on Demand tech platform which allows employees to receive a portion of their earned pay immediately via a mobile app, increasing their liquidity, choice and financial wellbeing. Workers can choose to receive up to 50 per cent of their gross pay for the work they have completed; it is income smoothing of their earned pay, not a loan. Companies may choose to restrict the availability for their staff to below 50 per cent should they wish/need. We do not charge interest, just a fair and simple transaction fee.
Companies profit from the improved recruitment, retention, engagement and productivity of their workforce. This is at no cost to the employer (unless they wish to contribute) and has no impact to company cash flow (we fund the advances, with the company reimbursing us when they pay their staff as normal). Additionally, Hastee includes an employee financial education programme as standard, available to all and at no cost.
Giving access to earned pay only, Hastee is a meaningful benefit that can be made available to all staff, including salaried, temporary, variable and gig workers. For more information go to hastee.com