Furloughed Staff Payment Support Overview [Employees]
What is Furlough?
In light of the impact of COVID-19 on companies across the UK, your employer may be able to keep you on payroll if they are unable to operate or have no work for you due to coronavirus (COVID-19). This is known as being 'on furlough'. When on furlough, you could be paid 80% of your wages, up to a monthly cap of £2,500.
You can read more about the government Coronavirus Job Retention Scheme (CJRS) and what it means to be furloughed.
How does Wagestream help furloughed staff?
Employees enrolled in Wagestream can immediately access up to 50% of their 'furloughed' income through the Wagestream app, if their employer has opted into Wagestream's FSP program. Each stream costs a convenience fee of £1.75, no matter the amount.
On payday, employees will receive their furlough payment from their employer, less any streams/convenience fees made during the month.
Wagestream also offers additional in-app content that gives you accurate information about COVID-19 and what it means for your finances, as well as tools to help you supplement income and reduce costs during the ongoing crisis.
Ready to get started?
If your employer is partnered with Wagestream, you can enrol today and start accessing your furloughed payments.
My Employer hasn't partnered with Wagestream yet
Clicking the link below is the fastest way to bring Wagestream to your organisation and allows you to join the 10,000s of employees across the UK who are already streaming.