Gig Wage Faster/Instant Pay gives your contractors the option to get paid sooner by receiving payments directly to their debit cards. That's a full 24-36 hours sooner than without.
How much does it cost?
Contractor's who opt-in will be charged a small % fee each time they receive a payment to their debit card, with no additional cost to you the sender.
If you'd like to subsidize the cost of Instant/Faster pay for your contractors, contact us today.
What are the differences between Faster Pay and Instant Pay?
It's to do with processing times and how you fund your Gig Wage account.
- If you DO NOT have Gig Wage Banking, contractors will see Faster Pay.
- If you DO have Gig Wage Banking turned on, contractors will see Instant Pay.
So, depending on your configuration, when you invite new or pay existing contractors, they will see a debit card payment option called Faster Pay or Instant Pay.
If you are pre-funding your Gig Wage banking account, then payments to contractor debit cards can be created at any time of the day/week, will process immediately (Mon-Sun) and allow for instant payments to your contractors.
Contact us about using a pre-funded Gig Wage account to speed up your contractor payments.