ATLANTA, Oct. 15, 2024 (GLOBE NEWSWIRE) — Instant Financial, a leader in fee-free on-demand pay solutions, today announced the launch of Instant Direct, a new solution paving the way for improved employee financial flexibility and freedom. With Instant Direct, employees are more empowered than ever to choose how they want to access their earned wages, expanding the options for seamless, fee-free access to pay. Instant Direct lets employees decide to either transfer their funds to an existing bank account or continue to use the Instant Card, a choice they can make depending on their individual needs and preferences.
The added flexibility of Instant Direct answers the growing demand for immediate access to wages at a time when financial security and control are top priorities for the U.S. workforce. By providing multiple fee-free options for receiving and accessing funds, Instant makes it seamless for employees to choose the financial ecosystem that works best for them. Instant Direct gives users more flexibility to access their wages on their terms – whether for routine expenses, unexpected emergencies, or financial planning – without waiting for traditional payday cycles.
Instant Direct also simplifies earned wage access (EWA) for employers, providing the flexibility many HR and leadership teams need. By simplifying communication around employee eligibility and providing multiple EWA models, Instant Direct is helping streamline the implementation process and unlocking operational efficiencies for companies across the U.S.
Spotlight on Employee Financial Wellness
The launch of Instant Direct follows the release of Instant’s 2024 Wages & Wellbeing study, which revealed that 82% of workers believe immediate access to same-day pay would significantly enhance their ability to save money. The same survey found that 49% of working Americans reported frequently experiencing financial shortfalls before payday.
Financial stress is clearly pervasive, and on-demand pay has proven to be a critical tool for individuals seeking economic stability. By offering fee-free access to wages and its new Instant Direct option, Instant helps employees across the U.S. better manage their finances, avoid costly alternatives like payday loans, and increase their ability to plan, save, and invest.
“Today’s employees expect more options regarding when and how they’re paid,” said Tal Clark, CEO of Instant. “Instant Direct puts that power in their hands, allowing them to take control of their financial decisions and wellness. Instant Direct allows us to meet employees where they are in their financial journeys, providing flexible, fee-free solutions that fit into their lives.”
Instant Direct is available now. To learn more about how Instant can help reimagine pay cycles for your employees, visit www.instant.co/direct. Other non-access fees may apply.
About Instant Financial
Instant Financial is a comprehensive employee pay platform providing earned wage access, tip disbursement, and electronic payroll – allowing workers to access their earned wages immediately, whenever, however, and wherever they want. By unlocking on-demand pay, Instant empowers financial freedom and wellness for employees while improving retention and attendance for employers. Compliant across all 50 states, Instant is trusted by leading companies nationwide to bridge the gap between work day and payday. Learn more about Instant and how it can impact your company at www.instant.co.
This card (or the Instant Payroll Card) is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa, U.S.A. Inc. All other trademarks and service marks belong to their respective owners.
Media Contact
Sparkpr for Instant Financial
instant@sparkpr.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0b07707f-0f56-4355-ae6b-f144fa9a84f8
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