Employees

FAQ's related to questions from Employees

Can my employer see my Floatpays information?
Your employer is only able to see the information that you have consented for them to provide us with for the purposes of enabling your withdrawals.  Any pe...
Tue, 10 Nov, 2020 at 3:09 PM
What if I end up with no salary at the end of the month?
Floatpays only allows you to access a designated percentage of your net salary that you have earned to the point where you want to make a withdrawal.  This ...
Tue, 10 Nov, 2020 at 3:09 PM
What do you mean by the term “financial well-being”?
We believe that financial well-being is determined by the extent to which people: Have control over their day-to-day, month-to-month income and expenses;...
Tue, 10 Nov, 2020 at 3:10 PM
What can I do to improve my financial well-being?
Floatpays has a number of tools to help you better manage your finances including planning and budgeting tools, spend notifications, payment notifications a...
Tue, 10 Nov, 2020 at 3:11 PM
How long does an instant voucher last?
An instant voucher lasts 3 years; however even if you don't redeem the voucher in the same month you make the withdrawal the money will come off your sa...
Wed, 11 Nov, 2020 at 1:15 PM
What is the minimum amount I can withdraw?
R250 is currently the minimum withdrawal amount when using Floatpays.
Wed, 11 Nov, 2020 at 1:16 PM
Do I get charged interest?
No, there is no interest or late repayment, it's a once-off fee per withdrawal, so you don't get charged interest during the month like you would if...
Wed, 11 Nov, 2020 at 1:16 PM
How do I update my bank details?
For security reasons you will need to speak to your Employer's payroll team if you wish to update your bank details.
Wed, 11 Nov, 2020 at 1:17 PM
Can you give me a loan please?
No, Floatpays do not provide loans.  We allow you to withdraw a percentage of your already earned salary prior to payday.
Wed, 11 Nov, 2020 at 1:27 PM
After making a withdrawal when will the money get deducted from my salary?
The money (including the withdrawal fee) will get deducted from your salary when your Employer pays you on payday.
Wed, 11 Nov, 2020 at 1:28 PM