Everyday payout
Catalog row in Vendor License Metrics · Cited
- Unit
- Payout
- Aliases
- Daily wage access; cashout by request
- Definition
- Everyday page: employees "can access their daily earned wages as they are available instead of waiting for their usual payday", paid by direct deposit or to a Vault Visa Payroll Card. Cashouts by request must be made by 11 a.m. Central to be included in that day's transaction.
- Counting rules
- Taxes, benefits and deductions are withheld first, plus a configurable 10% default to account for irregular deductions; the remainder is made available to the employee.
- Floors / minimums
- Employees become eligible at the start of the next pay period after opting in; for companies switching to Paycom, at the start of the third pay period under Paycom.
- Applies to products
- Everyday
- Product category