Instant Pay is a feature that allows workers to get a portion of their payment before payday. Instant Pay is not a loan. There is no interest, and no credit checks are done. Using Instant Pay gives you access to a portion of your earnings before your payment date. The amount withdrawn is automatically deducted from the next pay cycle.
How much does it cost?
Instant Pay is not a loan; there is no interest, only a one-time fixed fee. You will be able to see the total fee before you submit your request.
What currencies are available?
Instant Pay is available in the currency of your contract.
How much can I withdraw using Instant Pay?
You can access a portion of your accrued payment for the given pay cycle. You can view an exact breakdown of the balance on the platform. The access percentage is determined by an internal Cadana Algorithm.
What do I need to be eligible for Instant Pay?
Cadana works with your employer to turn on instant pay for workers. The specific eligibility varies from person to person, but there are some basic requirements:
- You must have an active contract with your employer.
- If you are a contractor, you must have been paid for at least 2 consecutive payment cycles.
- You have no outstanding Instant Pay withdrawals that have not been settled by a work payment.
- You have completed your full account verification, including ID.
- If you are a contractor, you have signed the necessary compliance documents, including W8BEN.
How long do Instant Pay requests take?
Instant Pay requests are processed instantly to your active account balance.
How do I repay an Instant Pay withdrawal?
There is nothing you need to do. The amount withdrawn is automatically deducted from your pay when your employer triggers the payments for that pay cycle. You will be able to see the itemized line deduction in your payment receipt.
Can I change the repayment date of Instant Pay?
No, your repayment date is based on your pay cycle and cannot be adjusted.
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