Earned Wage Access (EWA) lets you access a portion of your earned wages before payday, offering financial flexibility. This service is not a loan; it allows you to get your earned money sooner. The withdrawn funds are deducted from your bank account during the pay period’s pay run and will appear on your payslip with a reference number.
In this article, we explain how EWA funds are deducted; the processing time, how available funds are calculated, and how you receive your money.
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How your money is handled
EWA payments in a pay period are deducted from your bank account in that pay period’s pay run. You will see the transaction reflected on your pay slip as a deduction, with a reference number that corresponds to the EWA order number in your EWA history.
| Payment Time Estimate | Swag Spend Account | Banks | Banks |
|---|---|---|---|
| Banking hours: 9am-5pm Monday-Friday | Instantly | Instantly | Instantly |
| Non-banking hours: Anytime after 5pm and weekends | Instantly | Instantly | Instantly |
If your EWA funds are taking longer than stated above to process, get in touch with Swag Support.
EWA available funds are an estimated total amount of money eligible for withdrawal. We base this on the amount of time you have worked but have not yet received payment for in the current pay period. For salaried employees, EWA calculates as a proportion of your salary for the total number of days worked in the pay period. See this article for detailed information about this.
Receiving your money
You will receive your EWA funds to your Swag Spend account or your nominated bank account immediately, as Employment Hero immediately deposits the requested funds.
EWA transfers are immediate to either your Swag Spend account or your nominated bank account.
Submit a request via the Employment Hero support team. Get in touch with us here.
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