OnShift Wallet Software gives employees fast, convenient access to their earned wages. It helps reduce financial stress with flexible pay options.

OnShift Wallet Overview

OnShift Wallet is a type of financial wellness and earned wage access (EWA) software solution specifically designed for hourly wage earners in senior care, medical care, and long-term care industries. The program leverages Pay active network features to provide an important aspect of data, which allows workers to receive part of their earned paycheck before the payday. Thus, the program assists employees in tough financial situations to deal with unexpected challenges like medical bills and car repair costs without using loans. For medical Center employers suffering high turnover rates, providing the OnShift EWA system gives them a strong and effective, finance-free bonus to hire new employees.

onshift wallet

The OnShift Wallet works by being integrated with employers’ other time-and-attendance (Timesheet) software tools. Once staff leave the office, the program calculates his total remuneration and updates his account balance in the app. The employee will access up to 50% of the amount that he hasn`t yet earned, up to $500 maximum. The staff can receive this amount in their bank account, utilize it via the OnShift Visa card provided to them or use it in the app to pay for the utility expenses.

Works of OnShift Wallet Software

OnShift Wallet is an online software that connects to an employer’s payroll and time tracking systems. Once an employee completes a scheduled shift, the total time worked is recorded. With the OnShift Wallet app installed on their mobile device, the respective employee can access their balance, which usually does not go beyond 50% of the total actual paid but still unpaid employee’s income (maximum $500).

In case the employee wants to get the money, he/she needs to make a request to withdraw the cash through the OnShift dashboard. The funds may be deposited into a personal bank account, credited to an OnShift Wallet prepaid card, or spent on paying utilities directly from the app. When a payday comes around, the money that was spent by the employee prior to the payday is deducted from the employee’s paycheck.

OnShift Wallet Features

  • Wage Access: Provides employees with access to a considerable part of their earned wages ahead of paycheck day, which means that they will be able to overcome an emergency if necessary.
  • Bill Payment: Allows users to settle their utility, phone, or medical bills within the app without using a regular bank.
  • Advice and Resources: Provides access to financial counseling, budgeting tools, and savings guides to staff for free.
  • Payroll: Provides integration with regular HRIS and scheduling software.

Pros and Cons

Pros

  • Significantly reduces financial stress for hourly workers living paycheck to paycheck.
  • Prevents staff members from incurring high overdraft and late fees and from falling prey to loan sharks.
  • Easy for employers to implement, with no launch fees.
  • Comes with a discount program for daily purchases, such as gas, cinema tickets, and medicine.

Cons

  • Employees may incur a nominal transfer fee (usually between USD 1 and 5) when transferring money from their OnShift Wallet to their personal bank account, depending on what the company has established.
  • OnShift Wallet is for employees of companies only; the service is not available for individual users unless their employer uses the system.
  • The money received via OnShift Wallet may not exceed 50% of an employee’s earned wages or USD 500.