Koinonia Rolls Out New Technology Allowing Employees to Get Paid on Demand
We are excited to unveil a new initiative aimed at helping our employees gain greater financial flexibility and a safeguard against unexpected expenses. Koinonia employees are now able to make secure, instant transfers of earned net wages, before payday, whenever and wherever they need to, 24/7/365 through a new technology called DailyPay.
The partnership will empower Koinonia’s workforce with the financial freedom to access their wages whenever they need them, not just on payday. Direct Support Professionals (DSPs) and all hourly and salary staff members will have the ability to pick up an extra shift and get paid for it the next day, through DailyPay.
What is DailyPay?
DailyPay is a new voluntary benefit that allows you to access your pay when you need it. DailyPay is not a loan of any kind, it is not a subscription service, and there are no hidden or recurring fees or costs, only a transaction fee.
How DailyPay Works
As you work during the week, you’ll build up an Available Balance. Your Available Balance approximates earnings based on the hours you’ve worked minus any withholdings (like taxes, garnishments, etc.). In other words, your Available Balance is money that you’ve already earned. You may withdraw up to 50% of your next paycheck.
DailyPay is available 24/7/365. You can transfer any amount up to and including your Available Balance to your bank account, debit card, or paycard. You request funds through the DailyPay app on your phone or computer.
There is no charge to sign up for DailyPay. Similar to an ATM, employees pay a small fee of $1.99 per transaction to receive the funds the next day, or $2.99 per transaction to receive funds instantly*.
At the end of the pay period, the remaining balance of your paycheck (hours worked less withholdings) will automatically be deposited into your bank account on your regularly scheduled payday.
How to Sign Up
You will receive an e-mail directly from DailyPay with a unique link and instructions to sign up. Do NOT share this link with anyone.
If you didn’t see the e-mail, there are still two other ways you can sign up. Text START to 66867 or go to www.dailypay.com.
Does DailyPay have a mobile app?
DailyPay is a mobile-enabled website, meaning that you can access it from any computer or smartphone (with an internet connection).
How often can I use DailyPay?
You can use DailyPay as often or as little as you like. DailyPay is 100% voluntary and does not require any commitment.
What is the cut-off time to get funds the next day or instantly?
Next Day Payment: When requesting a Next Day payment, make sure to do so before 5:30pm EST, or that payment won’t get sent out until the following night. Payments requested before 5:30pm EST will post to your bank account the next business day. Please note, Next Day payments will NOT post to your bank account on weekends and holidays due to bank closures.
Instant Payment: When requesting an instant payment, you will need to have a valid debit card added to your account. Instant payments will post on weekends and holidays. Instant transfers will be posted to your bank account within 30 minutes. In rare cases, your transfer may take up to 24 hours to appear. If you can’t locate the funds in the bank account associated with your debit card 24 hours after the Manual Now transfer was sent, please contact our Support Team.
What if I don’t make a transfer during a pay period?
Once you sign up for DailyPay, if you make no transfers during a given pay period, then your entire paycheck will be deposited into your bank account on your regularly scheduled payday.
Where to Learn More
You can contact DailyPay by phone, email, or chat from M-F 8:00 am – 9:00 pm EST and
Sat.10:00 am – 4:00 p.m.
- Call (866) 432-0472
- Email email@example.com
- Login to your account at http://www.dailypay.com, go to the “Help” page, and click the “Live Chat” button at the bottom.
You can also visit www.dailypay.com for more information including videos, FAQ’s, and employee testimonials.
What’s happening with Koinonia Gas cards and other Payroll Advances?
Because of the accounting that is necessary to offer DailyPay to our employees, we cannot offer two ways to get a payroll advance. Our gas card program and any hardship advances currently processed will be discontinued on October 25th, 2019 and our new DailyPay program will be rolled out on November 4th. We hope our employees will enjoy the many advantages of DailyPay over gas cards including the freedom to get more money, more often, and to spend that money the way you choose.