Earned Wage Access Employee Benefit
Introducing Favorite’s New Benefit Option: DailyPay!
We understand how important financial well-being is to our employees. Favorite Healthcare Staffing has teamed up with DailyPay, a financial wellness app, to offer our employees a benefit that allows you to access a portion of earned hourly wages before payday.
DailyPay allows you to see and track your earnings, instantly transfer funds, and provides access to financial counseling to help you manage your financial wellness.
How DailyPay works
With this employee benefit offering, you can view, track, access, and transfer your earned hourly wages before payday all through the DailyPay app.
After you work a shift with Favorite and we receive your approved timecard, your earned hourly wages will be available to view in the DailyPay app within one to three days. Once the funds are available, you can transfer funds early to your checking or savings account. There is a $3.49 fee for an instant direct deposit, but there is no cost to access funds within one to three days of earning them.
The DailyPay app also gives you access to financial counseling and advisors to help you take control of your financial well-being.
DailyPay is not a payroll advance or loan but rather provides access to a portion of your earned hourly wages early, before payday. The portion of your wages eligible to access early include hours worked at your base hourly rate and overtime hours worked at one and a half times your base hourly rate.
Below are the maximum funds you are allowed to instantly transfer per shift, day, and week:
- Maximum amount per shift: $1,100
- Maximum amount per day: $1,200
- Maximum gross amount per week: $8,000
Wages earned from single worked shifts exceeding 16 hours or work weeks exceeding 150 hours are not eligible to access early with DailyPay. Additional portions of your wages that are not eligible to access with DailyPay include:
- Housing, meal, or transportation stipends
- Sign-on, completion, client-offered, or referral bonuses
- Reimbursements of expenses
- Specialty overtime, call-back, or holiday shifts
- Sick time
- Timecards that have not been approved or confirmed
How to get started with DailyPay
- Download the DailyPay app from the Apple App Store and Google Play Store or visit get.dailypay.com/
- Create your DailyPay account with the email, address, and phone number used in your Favorite Workday profile
- Add your direct deposit information (you can only add one account)
- View your available earnings
- Choose the amount you want to transfer and when you want to receive it
Any funds you do not transfer early using DailyPay will be paid to you on your normal payday. Take advantage of this employee benefit offering today!
DailyPay frequently asked questions
What is earned wage access?
Earned wage access allows you to receive part of your earned hourly wages before your normal payday.
How soon after I work can I access my funds?
Generally, you will be able to access a portion of your earned hourly wages within one to three days of your client-approved timecard being submitted to Favorite’s Payroll department.
Will using DailyPay affect how I submit my timecards?
No, your timekeeping process is not changing.
Can I transfer funds into a checking account and a savings account?
No, DailyPay only permits adding one direct deposit account in your profile so you will not be able to transfer funds into multiple accounts.
If I submit paper timecards, will I still be able to use DailyPay?
Yes! Once your signed and approved paper timecard is sent to payroll@favoritestaffing.com, you will be able to access a portion of your earned hourly wages within one to three days of Favorite receiving your timecard.
If I submit my timecard in Kronos, will I still be able to use DailyPay?
Yes! Once you send a screenshot of your submitted timecard from Kronos to payroll@favoritestaffing.com, you will be able to access a portion of your earned hourly wages within one to three days of Favorite receiving your timecard.
If I submit my timecard through a third-party timecard application, will I still be able to use DailyPay?
Yes! Once you send a screenshot of your submitted timecard from the third-party application to payroll@favoritestaffing.com, you will be able to access a portion of your earned hourly wages within one to three days of Favorite receiving your timecard.