After analysing various options on the market, LCY chose to implement Hastee’s Earnings on Demand solution. LCY’s staff can choose to receive up to 50% of their gross pay for the work they have completed, providing a safe, ethical and risk free alternative to using a credit card, overdraft or payday loan when they need to access some extra cash.
Because Hastee is not a loan, there is no interest to pay and no impact on the credit score of anyone who uses it. LCY’s staff simply pay a small, fair and simple transaction fee of 2.5% (after they have received their first withdrawal, up to £100, free of charge) meaning the solution costs the business nothing and provides workers with access to their own earnings without having to wait until pay day. Hastee also provides a full financial education programme, written in conjunction with The Money Charity and Money Advice Service, as part of the package.
What LCY said about Hastee
“Hastee has empowered our people to manage their personal finances more effectively, improving their lives inside and outside of work. Instead of requesting an advance or relying on credits cards, pay day loans or overdrafts, our staff can withdraw a portion of earned pay when they want or need a bit of extra cash. Tackling financial stress should be a big part of any workplace wellbeing strategy. Implementation was fast, hassle-free and the solution has cost the business nothing.”- Stephanie Powell, reward manager, London City Airport