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On-demand wages with Wageflo

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foundU
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Use the Wageflo feature to withdraw funds before payday

On-demand wages allow you to withdraw your pay as you earn it—there's no need to wait until payday.

  • When your manager approves your shifts, you can access up to 80% of your pay early! 
  • You can create your budget, project your earnings based on your rostered shifts and set up payments into multiple bank accounts.
  • Withdrawals can be made anywhere and at any time through your app.
  • Low-rate flat fee of $5 per withdrawal.

You can log in to your foundU app to see when and how much of your wages you can access.

Using Wageflo

If your business uses Wageflo, you'll be able to access funds from your shifts early (provided your manager has approved them). Eligible employees for Wageflo include:

  • All employees over 18 years old.
  • Casual employees and shift-based employees. These employees will be able to access their funds as shifts are approved.
  • Salaried employees. However, if you are salaried, your pay will not be available until the end of the pay week, as your shifts are not approved daily.


To access your pay early:

  1. From within your employee app, select 'Withdraw Now' from the home screen.
  2. Enter the value you want to withdraw (minimum of $100) & follow the prompts!
  3. Your funds will be available in your bank account in approximately 15 minutes.

Your eligible amount on your home screen will now be reduced by the amount you have just withdrawn.

Wageflo final.gif

  Note: This amount and the flat-rate $5 transaction fee will be deducted from your next payslip. The deductions and transaction fees will be grouped as one amount in a separate section of your payslip called 'Wageflo transactions'. If you make multiple Wageflo withdrawals in a pay period, this will be shown as one amount instead of as separate transactions.

 

What makes up my Wageflo balance?

You may wonder what amounts will contribute to the eligible Wageflo amount in your app that is available to withdraw.

Amounts included in your eligible Wageflo balance:

  • Your NET wages from the current pay period from shifts that have been approved.
  • Daily allowances and shift allowances.

Amounts excluded in your eligible Wageflo balance:

  • Wages from shifts in the future (that have not been worked yet).
  • Reimbursements.
  • Any weekly or piece-based allowances.
  • Any leave payments.
  • Bonuses.
  • TOIL or RDO payments.
  • Workcover.
Note: If you have regular or one-off deductions from your pay, they will be accounted for before your eligible Wageflo balance is shown in your app.

 

Using the budgeting tool

If your business uses On-demand Wages (Wageflo), you may also have access to foundU's Budget Tool. 
 

Setting up your recurring expenses in the budget tool gives you better visibility over what money you must work with each pay period. It also lets you see what you will likely earn based on the rostered shifts in the pay period. You can read more about this here. 

Contact: If your business uses Wageflo but hasn't yet used the Budgeting tool, reach out to one of your managers and express your interest!

It may seem too good to be true, but it's not! You can learn more about Wageflo here.

 

FAQs

I have used Wageflo in the past, so why don't I have any available wages during this pay period?

There may be a few reasons you don't have any available wages this pay period.

  • If you have recently made updates to your bank details or TFN statement.
  • Your worked shifts may not have been approved yet. 
  • If your payroll officer has made a manual edit to your payslip.
  • If you are in an overdrawn state. Learn more about overdrawn amounts here.

I'm a new employee; why can't I see Wageflo wages in my app?

First, ask your employers if they have Wageflo enabled for use in their business, as this is an optional feature of foundU.

If you are a new employee, please consider that:

  • You must be over 18 years old to use Wageflo.
  • You must have been paid once by this business before seeing the Wageflo option in your app.

Why does my available balance show less than I expected?

There are many reasons that your available balance could be lower than your expectation, including the following:

  • Your employer may not yet have approved all of your shifts.
  • You expect to see allowances and leave as a part of this value - these items are not always included.
  • You have a regular or one-off deduction that will reduce your NET wages.
  • You have taken money out - this will lower your available balance.
  • You had an overdrawn amount from the previous pay period that has reduced this pay period's available balance. Learn more about overdrawn amounts here.

I'm a paid monthly employee. Can I access Wageflo? 

Unfortunately, Wageflo is not currently available to monthly employees at this stage.

What are the minimum and maximum withdrawal requirements?

A minimum $100 withdrawal is required, with a $5 fee. Once processed, you will see your funds in your account almost instantly, usually in about 15 seconds.
 

The maximum amount you can withdraw will be 80% of your wages.

I'm a salaried employee. Can I access Wageflo?

You can; you will only have an available balance at the end of your week. You can still withdraw this amount, but this will likely be the day before payday.

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