DailyPay allows you to access a portion of your earned wages before your regular payday, providing flexibility and control over your finances. Once you are enrolled, your earned but unpaid wages become available in your DailyPay Balance, which you can then transfer to your preferred account.
Understanding Your DailyPay Balance
After enrolling in DailyPay, a DailyPay Balance becomes available to you. This balance represents the money you have already earned but haven't yet received on your standard payday. Importantly, this balance can include up to 100% of your anticipated net earned pay, giving you substantial access to your wages as you earn them.
How to Transfer Your Earned Wages
To receive money from DailyPay, you simply initiate a transfer from your DailyPay Balance through the DailyPay app or web portal. You have control over how much of your available balance you transfer and when.
Here’s how the process typically works:
- Access Your Balance: Log in to your DailyPay account to view your current DailyPay Balance, which updates as you work.
- Initiate a Transfer: Select the amount you wish to transfer from your available balance.
- Choose Your Destination: You can usually choose to send funds to:
- Your primary bank account (the one your regular paycheck goes to).
- A debit card for instant access.
- Sometimes, other options like pre-paid cards are available.
- Select Transfer Speed: DailyPay typically offers a choice between standard (next-day or 1-3 business days) and instant transfers.
Transfer Options and Fees
DailyPay generally provides different transfer speed options, each with its own characteristics:
| Transfer Type | Speed | Typical Fee | Description |
|---|---|---|---|
| Standard | 1-3 Business Days | Often Free | Funds are typically deposited into your chosen account within one to three business days. |
| Instant | Minutes | Small Fee | Funds are transferred almost immediately, usually within minutes, for a small transaction fee. |
Note: Transfer fees and speeds can vary based on your employer's DailyPay program and your bank's processing times.
What Happens to the Remaining Balance?
Any portion of your earned wages that you do not transfer early from your DailyPay Balance will be automatically processed. This remaining balance is deposited into your primary bank account on your regular payday, just like your standard paycheck. This ensures that you receive all your earned wages, whether you choose to access them early or wait for your scheduled payday.
For more detailed information and to manage your account, you can visit the official DailyPay website.
