WHAT: Earnings on Demand platform Hastee gives workers access to their earned wages before pay day. For six months, Hastee is making the service available for free to all staff deemed crucial to the UK’s response to the evolving COVID-19 outbreak, including police, fire services, teachers, and those involved in the food supply chain. And, just as importantly, it will be free for all users across the UK for the next three months.
The platform has already reported a 32 per cent week on week increase in usage, as workers access their money ahead of pay day to stock up on the essentials. Hastee currently supports more than 100,000 workers across several sectors including the NHS, care homes, hospitality and manufacturing.
WHY: Hastee is taking action to support workers so that those who either need some extra financial freedom or who have urgent additional payments, can access their earnings without having to borrow the money and pay high rates of interest either via overdrafts or other forms of high-cost credit.
HOW: The Hastee platform, which supports staff at NHS Trusts, including two London NHS Trusts (7,000 users); one of Europe’s largest food producers, Moy Park (12,000 users); one of Europe’s largest bar and restaurant groups, Mitchell and Butlers (46,000 users) and a number of care home providers (3,200 users) is always free to employers – and allows staff to access up to 50 per cent of their salaries before pay day each month for a minimal 2.5 per cent transaction fee. The first £100 withdrawal is always free of fees to everyone – however Hastee are now waiving all fees for critical workers for six months and supporting all users, across the UK for three months to help provide access to earned pay and financial wellbeing as the coronavirus takes hold across the country.
Announcing the measure today, James Herbert, Founder and CEO of Hastee said:
“We want to support the most important members of the workforce to focus on the enormous task at hand – whether it be treating patients in our hospitals or ensuring our food supplies remain consistent as we prepare for further restrictive measures to take hold. By waiving all fees for six months for critical staff and three months for every other business, who will need huge support to get through this, we hope we can at least take some of the financial pressure off those people who are so essential to the overall wellbeing of everyone else.”