Earned wage access

Earned Wage Access (EWA) is a financial service that allows employees to access a portion of their earned and unpaid wages before the end of the regular payroll cycle. Earned Wage Access is an employer-offered benefit that allows workers to withdraw earned wages during the current payroll cycle, which is followed by an automatic payroll deduction to reflect funds already received.

Earned Wage Access is sometimes referred to as instant pay, earned income, early wage access, accrued wage access, or on-demand pay.

Earned Wage Access is not a lending product, and there are not interest charges or required repayments in the future. Some similarly-named products that are not employer-affiliated have drawn scrutiny for offering high-interest, short-term loans.

Regulations in the United States relating to EWA are regularly evolving, with regulatory guidance provided primarily by the Consumer Financial Protection Bureau (CFPB) and several state agencies. Earned Wage Access is also available in the United Kingdom and many other countries.

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