Sprout ReadyWage: Frequently Asked Questions

ReadyWage is Sprout's Earned Wage Access solution, allowing employees to withdraw and access a portion of their earned salary after accumulating sufficient working days or hours. With earned wage access, you can withdraw your available balance anytime, eliminating the need to wait for payday to access your money.

In this article, we will answer frequently asked questions by our clients:

General

How is ReadyWage different from ReadyCash?

ReadyWage is not a salary advance like ReadyCash; ReadyWage offers employees access to a portion of their earned salary, reflecting the days they've worked. It's important to note that ReadyWage doesn't facilitate borrowing in advance, but rather withdrawing what you’ve already worked for.

How much does ReadyWage cost for my company?

Apart from the convenience fees per transaction, ReadyWage is 100% free for your company! It allows you to provide clear, transparent, and proactive financial assistance to your employees.

For Employees

How is ReadyWage different from my normal payday?

ReadyWage allows employees to access a portion of their earned wages before the traditional payday. With earned wage access, you can withdraw your earnings at any time, as long as you have worked and accumulated wages. This means you don’t have to wait for payday to access your money.

How much can I withdraw with every transaction?

Employees can withdraw a minimum of Php 1,000 and a maximum of Php 50,000 per ReadyWage transaction.

How many times can I withdraw using ReadyWage?

With ReadyWage, there is no limit to the number of transactions you can perform. As long as your account balance is at least Php 1,000, you are eligible to cash out your earned wages whenever you need.

Does ReadyWage have interest?

ReadyWage does not charge or accumulate any interest fees, as the funds are your earned wages. However, there is a transaction fee starting at Php 35 for each withdrawal.

Where and when will I get the funds?

Funds are instantly transferred to your payroll account via InstaPay.

Where can I track my transactions?

Your transaction history and status can be accessed on your ReadyWage homepage, providing you with a comprehensive overview of your financial activity. Should you have any inquiries or require adjustments, you can reach out to your HR department for assistance.