A new recruitment tool for employers -- paying workers every day, moments after shift ends

[Demovictory9]

https://www.cbsnews.com/news/paid-daily-wages-taco-bell-worker-shortage/

Struggling to attract workers as the coronavirus pandemic drags on, major companies are dangling an uncommon benefit to lure job candidates: a chance to get paid every day.


Dozens of employers — including fast-food chains Arby's, Wendy's, Jimmy John's and Taco Bell as well as retailers Big Lots, Dollar Tree and Kroger— are now giving employees the option to withdraw money from their paychecks moments after finishing their shift by using smartphone apps like Branch or DailyPay.

"Usually people aren't taking out $100 to go to the bar at night," DailyPay Chief Marketing Officer Jeanniey Walden told CBS MoneyWatch. "They're taking out, for example, $37.10 because they have a light bill that they forgot to pay."

Such apps are essentially software add-ons to existing payroll systems like ADP. Employees can download the app on their iPhone or Android device and log in using a company-provided email or phone number. The app shows workers by the hour how much cash they're earning as their shift progresses throughout the work day and allows them to transfer their wages to a connected bank account with the touch of a button.

5 votes, 0 passes | Time left: Unlimited
	i would like to be paid daily
	0 (0%)
	daily pay is too often, prefer weekly pay
	2 (40%)
	prefer twice per month
	1 (20%)
	prefer once per month
	2 (40%)
	0 DU members did not wish to select any of the options provided.
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[Ohio Joe]

1. It looks like a scam to me...

From the article:

There is a downside to using the apps. Employees are charged $2.99 to access their wages on the same day they receive them. DailyPay charges $1.99 if a user wants to transfer wages a day after the money is earned, while Branch charges up to $4.99 depending how much money an employee transfers.

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Looks to me like the corporations getting into a pay-day-loan type exploitation of low income earners. JMO.

[TreasonousBastard]

2. Sounds like a lot af money to get paid a few weeks early...

Around here Dollar Tree workers get around 15 bucks an hour, so shouldn't need it for long, or that often.

[multigraincracker]

3. Sounds like year ago when I worked in a large shop.

They had Loan Sharks. They were very busy too.

[snpsmom]

6. Still less than

the exorbitant rates charged by payday loan sharks.

[Buckeyeblue]

7. Agreed. Those fees are crazy. Had to figure someone was making a $ off of this.

[Ka-Dinh Oy]

4. Reminds me of this shabby deal that a video store had for its employees years ago.

Employees money got put into an account that could only be accessed with a card they gave them. It cost them a fee every time they used it. The highest fee was to get cash.

One of the girls I knew who had worked there said it was between $1.50 and $5.00 to use the card each time.

[Sherman A1]

5. Nothing I would be interested in, but it might work for some

We had weekly payroll when I worked and that was good enough.

[Phoenix61]

8. I can see where it would be nice to have.

Your regular daycare had an emergency but the high school kid next door was available and you need to pay them. All kinds of random things happen in life and a lot seem to happen right before payday.

[Demovictory9]

9. I can see it getting some in trouble... taking out daily dabs here and there and not enough

left at end of month for rent.