Payd | Frequently Asked Questions | Earned Wage Access

Employers

What is Payd?

Payd is a Financial Wellbeing platform that works with employers, enabling them to offer their employees access to their earned salary on demand.

How does Payd work?

Via the Payd app, you are able to access a part of your earned salary with a single click of a button. As soon as your employer has submitted your payroll details, you are able to log into the app, view your earned salary and withdraw it directly to your bank account.

How does Payd make money?

Payd charges a withdrawal fee per transaction

How much does it cost to employees?

Minimal flat-fee is charged for every withdrawal request. No monthly fee / subscription fee

Who is eligible?

Employees who are currently employed with a registered employer in Malaysia

Is EWA a loan?

No it is not a loan. We provide employees access towards their earned salary when they need it

Do employees needs employer approval to withdraw?

No there is no approval required for every request

When can an employee request to withdraw?

As soon as HR provides the employee access. Employees can access their earned salary anytime in the month up until payroll cut off date

Does EWA affects statutory deductions?

No impact on statutory deductions as there are no changes on basic salary

Employees

How is Payd connected to my employer?

Payd is a third-party financial wellbeing provider that works with your employer to enable you to access your earned salary on demand. We work directly with your company to provide you this service and do not make any changes to your payroll.

Does Payd affect my credit score?

Using Payd has no impact on your credit score as we are not a loan provider.

How long does it take to receive my money?

We will transfer funds into your bank account within 24 hours of a withdrawal request.

How long is the enrollment process?

Can be done instantly

How do I download the Payd app?

Payd is available in both iOS and Android stores.

How to withdraw my salary?

1. Login to the Payd app

2. Insert (or slide to) the amount you would like to withdraw

3. Tap the “withdraw” button

4. Confirm the transaction

How will my expected payday be impacted?

Your expected payday will remain the same as always. However, if you choose to withdraw your salary earlier than payday, that will be deducted from your paycheck on payday along with our withdrawal fee.

Payd App