Earnd welcomes FCA guidance on Employee Salary Advance Schemes

As an early access to income provider, Earnd welcomes the Financial Conduct Authority’s (FCA) position on Employer Salary Advance Schemes (On-demand Pay) as an alternative to high cost credit.

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Earnd welcomes FCA guidance on employee salary advance schemes
  • We don’t charge users fees to access their own money — we believe it’s their right to take the money that is rightfully theirs.
  • We signpost users to useful and relevant support as and when they need it — our support team monitors and actively reaches out to see if users are experiencing negative outcomes from early access to their pay.
  • We only allow users to draw down on the percentage of their income we agree to with their employers — our users can also lower their withdrawal limit from the Earnd app.

We give employees access to their pay as they earn it, so they are in control of their finances every single day.

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