Early access to earned wages is a game-changer for employees, but not all solutions are created equal. While early pay options offered by some banks provide a slight head start on payday, they lack the flexibility and control of earned wage access (EWA) solutions like DailyPay.
DailyPay puts the power in your hands. As you work and earn, you can access your funds instantly, giving you the freedom to manage expenses, avoid overdraft fees, and achieve your financial goals. Need to cover an unexpected car repair? Want to take advantage of a flash sale?
With DailyPay, you can access your earned wages immediately without waiting for payday.
Beyond individual benefits, DailyPay offers advantages for employers too. By offering DailyPay as a benefit, businesses can attract and retain top talent, reduce employee financial stress, and even boost productivity. It’s a win-win for everyone involved.
While both early pay and DailyPay provide a much-needed alternative to predatory payday loans, DailyPay’s on-demand access and greater flexibility make it the clear choice for those seeking true financial control and well-being.
It’s not just about getting paid early; it’s about having access to your money when you need it most.
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DailyPay EWA Platform Access your earnings on your schedule. There are no interest or charges based on the time value of money |
Two-Day Early Pay Early pay allows you to access your pay up to two days before payday |
Predatory Payday Loan Predatory payday loans may seem like a quick fix but they come with high rates, late fees, and risk of overdraft charges |
Credit Card Advance Cash advances carry high interest rates and transaction fees |
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Amount available
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Access to net earnings tailored to all pay profiles
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Early pay allows you to access your pay up to two days before payday.
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These short-term, high-cost loans are typically $500 or less
The higher the amount the greater the transaction fee and interest rate will be. |
It depends on your credit card company, but 20% is common
Beware that the fee and interest rate will hinge upon the amount and could compound1 |
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Interest rate
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No interest or charges based on the time value of money
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0% (Not applicable)
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Capped in some states 2 but can equate to up to 400% 3
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Average credit card cash advance APR is around 30% 4
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Impact on credit score?
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No impact (and our Credit Health can help you monitor your score!)
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No impact
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No credit check is required, but it could damage your report if you don’t repay on time
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Requires a credit check and could damage your score if you don’t repay on time
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Late fees
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None
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None
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Varies by company 5
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Varies by company
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Time to access
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Instant for a fee or next business day 6
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Two days before payday
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One business day 7
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Varies by company but typically a few days
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Additional platform features
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Varies by company but can include:
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None
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None
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Employer-sponsored
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Yes
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No
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No
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No
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