Frequently Asked Questions

Get answers to some of the commonly asked questions that we hear regarding PayActiv Financial Wellness Program. If you have specific questions, please call us at (877) 910-8400 or send us a message using the form here.

What is PayActiv?

 

PayActiv financial wellness program is a benefit that employers can offer to their employees to help them overcome financial needs between paychecks. With the PayActiv service, employers are presented an opportunity to invest in their most valuable asset – their employees. With PayActiv, employees are able to access their earned but currently unpaid income with zero interest rate. They can also use the PayActiv mobile app to pay bills, do bank transfers and start budgeting and saving.

How does a business offer PayActiv Financial Wellness Program to their employees?

 

PayActiv partners with employers to deliver financial wellness services to employees. Employer agrees to offer PayActiv as an employee benefit. No integration is needed, as the existing payroll and time and attendance system is leveraged. Highest security standards are followed. The service can go live within 24 hours. PayActiv provides on-site implementation and training where required.

Any business can offer the PayActiv financial wellness service to its employees.

What is the PayActiv membership fee?

 

PayActiv membership fee is the fee paid by employees only when they access their earned but unpaid income. It is an ATM like flat fee. There are no enrollment or recurring fees.

Are there additional charges for the PayActiv service?

 

No. Employees can pay bills, transfer funds, and use the budgeting and savings tool all free of cost.

Is there any interest charged by PayActiv?

 

No. PayActiv is not a credit solution and there is never any interest charged or paid by the employee.

Is PayActiv a consumer loan provider?

 

No. PayActiv is a financial technology solutions provider. It is not a credit solution.

Will PayActiv have an impact on an employee’s taxes?

 

No.  Services within the PayActiv financial wellness program are independent of payroll and associated taxes.

Is there any cost for an employer to offer the PayActiv service to their employees?

 

No. There are no setup or recurring costs for the employer.

Will the PayActiv service have any impact on an employer’s payroll taxes?

 

No. Services within the program are independent of payroll and associated taxes.

Is PayActiv facilitating disbursement of wages?

 

No. Wages are processed and disbursed by payroll as usual.

Does PayActiv process payroll?

 

PayActiv does not process payroll.  The employer or their designated payroll provider processes payroll.

Does PayActiv integrate into an employer’s Time Attendance system?

 

PayActiv simply exchanges a time attendance data file with the employer without integration into the TA system.

Will PayActiv have an impact on an employer’s revenue or expenses?

 

No. There is no income or expense impact for the employer.

Will PayActiv have an impact on an employer’s cash flow?

 

No. PayActiv fronts the cash to the employees.

How secure is the data provided to PayActiv?

 

All the data is hosted in the cloud. Data is encrypted at rest and in transport. PCI standards are used to maintain the highest level of data security.

What happens if an employee accesses funds and their employment discontinues?

 

This is at Zero Risk to the employer. PayActiv indemnifies the employer against financial loss associated with the PayActiv service.

If you have other questions send us a note and we will get back to you.

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It is more than a paycheck,
it is peace of mind!

It is more than a paycheck, it is peace of mind!

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