Your paycheck stub will remain the same, your transactions in the Instant Pay app will show details of what was repaid.
On your payday we’ll show you two separate transactions in the Instant app:
- Your “Net Pay” deposit is the total amount your employer has told us to put in your Instant Account.
- Your “Instant Pays Repaid” is a deduction of any Instant Pay offers you took in that pay period, and any amount unpaid from previous pay periods*.
- *A note on carryforward Instant Pay: If your net pay amount for a pay period is less than the sum of Instant Pays you took, the amount will need to be carried forward and deducted from the next pay period. This will be clearly labelled in your app and Instant Pay offers are suspended until this is recovered on the next pay day.
- Remember: this is just the total of your offers accepted - we never charge you any fees or interest to take your pay early.
Instant Pays are repaid back from the net check amount for the Pay Period they were earned in. Your company will share with you your pay period dates.
Let's break this down:
Pay Period: January 1 - 15
Instant Pays Taken in January:
January 2 - $20
January 7 - $20
January 18 - $20
What you see in your App:
Net check Amount = $500 - I see this amount on my pay stub, after taxes and any other deductions are removed
- January 2 - $20
- January 7 - $20
The January 18th Instant Pay does not fall in the Pay Period between January 1-15th. The Instant Pay from January 18 will be repaid from my next payday