Earnings Withdrawals And Repayment
- How do I access my earnings?
Through the Earnipay app, you can initiate an On-Demand Pay request by clicking on the designated option and then entering the desired amount to withdraw from your available balance.
- How are my earnings for each day calculated?
On-demand pay is calculated based on the hours worked or completed shifts by the employee up to the current date. The employee's earned salary is calculated using their hourly rate or salary, and any applicable deductions or taxes are taken into account. The available balance for On-Demand Pay is then determined by subtracting any previous On-Demand Pay withdrawals and deductions from the total earnings.
When the employee initiates an On-Demand Pay request through the mobile app, they can withdraw a portion of their available balance up to a certain limit set by the employer or the platform.
- How many times can I withdraw my earnings in a month and how much can I withdraw?
The frequency of withdrawals for on-demand earnings in a month depends on the terms and conditions set by your employer. If your employer sets 50 or 70% access, they will be able to withdraw at any time until they exhaust the percentage.
- How long does payment take?
Payments from On-demand pay are typically instant. However, some companies require approval so they get the funds when their admin approves.
- Can I pay back the money I have paid myself from my available earnings?
Yes, you can. You can reach support@earnipay.com for the repayment account details.
- Does Earnipay work like a regular bank account?
We are currently partnered with Providus Bank and Stanbic IBTC which allows you to perform your usual bank transactions such as transfers, bill payments, and savings.
- Why can’t I access my earnings after a certain period?
The cut-off date for processing payroll and reconciling past withdrawals is typically set two days before the official payday selected by your employer. This allows your employer sufficient time to finalize payroll and ensure accurate processing of transactions, including any On-Demand Pay withdrawals made by employees.
- How are the withdrawn earnings repaid?
At the end of the month, Earnipay sends an invoice to the employer detailing the amount accessed by each employee through On-Demand Pay. The employer then deducts the corresponding amounts from the employees' salaries who made withdrawals and refunds this total to Earnipay. This process ensures that the funds withdrawn are reconciled and accounted for accurately.
- Why are my earnings for this month different from last month’s earnings?
The variance in earnings between this month and last month is attributed to the difference in the number of days in each month. Since months can have different numbers of days, the total earnings may vary accordingly.
For example, if an employee is paid based on an hourly rate, the total earnings for a month with more working days will likely be higher compared to a month with fewer working days, even if the hourly rate remains constant. This discrepancy in earnings is a natural result of the varying number of workdays in each month and is accounted for in the payroll calculations.