The FCA raises the red flag over these ‘wellbeing packages’ that allow employees to take part of their earnings before payday

Lockdown has been a trying time for millions of workers. Suddenly having to work from home, coupled with worries about future security and finances, have weighed heavily for many.

For an increasing number of cash-strapped workers, the solution has been Employer Salary Advance Schemes (ESAS). Through the likes of Hastee and Wagestream, they can access up to 50% of their wages before their regular payday. However, critics say the services can push consumers into cycles of debt and should be regulated like the payday lenders they aim to replace.

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