Turn off Earned Wage Access (EWA)

1. Log into the EH Work  app.
2. Tap on the Money icon.
   
3. Tap on Support along the top bar.
   
4. Tap on Financial wellness and support.
   
5. Scroll down to Manage your wage access settings.
   
6. On the pop-up, tap Disable.
   
7. Earned-wage access will now be disabled on your account.

At present, the Earned Wage Access product is built as part of our wider benefits product offering. Our goal is to support the financial well-being of all employees who use our product, and to do so, we are trying to break the typical mould of pay schedules, waiting to be paid, and the reliance on expensive credit products.

We would love to learn what your concerns and questions are about this benefit and how we might be able to alleviate them. We have also provided some additional information and resources below.

In a market where finding and retaining the best talent is especially tough, Earned Wage Access offers a unique and valuable addition to your Employer Value Proposition (EVP). This benefit allows your employees to access their earned wages in real time with no credit, interest or hidden costs. There is only a variable administration fee of 1.5% to your bank or 1.3% to a Swag Spend Account.

We've crafted a blog post that offers employers all the essential information about Earned Wage Access to help you better understand the ins and outs.

Earned Wage Access provides employees with access to their pay for work already undertaken - rather than an advance on work not yet done. Below are some key details around this:

• Only 50% of an employee's unpaid net pay owed is eligible.
• There is a weekly withdrawal limit of $1000 (and no minimum per transaction).
• Earned Wage Access will show as a payslip deduction on the employee's next payslip.
• When the pay run period comes around, your organisation then pays Employment Hero the wages, instead of the employee.
• This is all automated and completed as part of the pay run, so there's no extra admin on your part.

Further to this, there is eligibility criteria in place, providing parameters an employee needs to meet in order to access their available funds, which are outlined in the Eligibility FAQ guide.

This article outlines how Earned Wage Access can be viewed, processed and reported upon from an organisational perspective to support managing the use of Earned Wage Access. I also wanted to include the T&Cs here, should you wish to review them (see section: Additional Specific Terms relating to Earned Wage Access), and a helpful FAQ for employees regarding using Earned Wage Access.

I hope these details assist in highlighting the value of Earned Wage Access for your organisation and its employees, but if you have specific questions or concerns about your employees having access to this benefit and feature you want to discuss, please feel free to talk to our customer care team.