Depending on your company, you may have Continuous Pay Access. Continuous Pay Access means after a pay period ends, you still have access to your earnings up to the morning one or two days before payday. Because the next pay period may have started in the meantime, you may have access to two pay period's worth of earnings at the same time.
How does Continuous Pay Access work?
First, a paycheck is determined by how much you earn in a particular pay period. For most companies, there is a gap between when a pay period ends and the payday those earnings arrive on.
Let's look at an example. This is an example pay period of two weeks, with the payday being the following Friday:
This gap (in this example, five days) between the end of the pay period and payday is important. Normally, you can only access earnings during the pay period — you would lose access during that gap. However, with Continuous Pay Access, you still have access to those earnings during the gap (at least up to 1-2 days before payday, so actually four days in this case to account for this):
However, remember that another pay period (blue) has started during that time:
What does this mean?
It means during that time, you can access both the red and the blue pay period's earnings at the same time in DailyPay thanks to Continuous Pay Access, as shown below!
All of the earnings from both the previous (red) and current (blue) pay periods during this period will appear in the amount Available now together. For instance, if you have $400 available from the previous (red) pay period, and $100 from the current (blue) pay period, your amount listed as Available now will be $500.
How does taking a transfer from two pay periods at the same time work?
When your amount Available now has earnings from two pay periods at the same time, depending on the payment amount you request and your earnings, the payment you receive may consist of only past pay period earnings, current pay period earnings, or both.
The DailyPay system is built to always give you access to previous pay period earnings first. In the example above, that would be the red pay period. That means the transfer you request will always draw on past pay period earnings first, and then current pay period earnings if needed.
For an example, let's say you have $500 Available now, and the timing of Continuous Pay Access means that this is made up of two pay periods ($400 from the previous (red) pay period and $100 from the current (blue) pay period). All earnings will pull from the past pay period first, so if you take a $450 transfer, that transfer will pull $400 from the previous (red) pay period, and $50 from the current (blue) pay period.
Does Continuous Pay Access activate when I first start using DailyPay?
Continuous Pay Access, if it is available to you, does not activate until you get your first Remainder Pay, and may no longer be available if you do not remain as an active user.
Your previous pay periods’ earnings, prior to your enrollment with DailyPay, are paid out to you directly by your employer on your regularly scheduled payday.
Remember - previous pay period access is only available up to one or two days before payday. On that date, you will see your amount Available Now go down again when we get your pay ready for your paycheck.