Homebase provides employees early access to their earned wages so that they can manage unexpected bills and avoid late/overdraft fees.
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What do I have to do to setup Cash Out?
Nothing! Cash Out is a free feature that is available to all of your employees once they become eligible.
How does my business become eligible for Cash Out?
We will alert you and automatically turn on Cash Out for all of your employees.
Will Cash Out change any of my current systems?
Absolutely not. Cash Out does not affect any other functionality in the Homebase app, including payroll.
How can I turn on Cash Out access to employees?
We are excited for your employees to have Cash Out! If you are eligible to activate Cash Out, have the admin for your Homebase account reach out to customer support or hit the ‘Turn on Cash Out’ button on the Cash Out screen.
Which of my employees use Cash Out?
To protect employees’ privacy, we do not provide details on who is using Cash Out.
How can I turn off Cash Out access to employees?
We are sorry that you are not pleased with Cash Out! Please have the admin for your Homebase account reach out to customer support. We would be happy to help. Note: If you turn off Cash Out, no employees at any location will be able to take another advance. All outstanding advances will still be repaid.
How should I communicate Cash Out to new hires and current employees?
We are glad you asked! There is on the web app for you to download. You can hand it out to employees or hang it up in your break room. If they have more questions, feel free to send them to these FAQs or have them reach out to firstname.lastname@example.org.
Can I pay for my employees’ instant withdrawals as a perk?
We love your generosity! Unfortunately, we do not have this perk available currently, but please reach out to let us know that it is something you desire.
What do my employees have to do to use Cash Out?
We make it easy for employees! Once they have logged enough hours to be eligible, they just connect the bank account where they receive direct deposits, select how much they want to cash out, and receive their money. No application. No credit check. No interest. Less financial stress.
How much do employees have to pay to use Cash Out?
There are no monthly fees, late fees, interest rates, or transaction fees. Employees have two delivery options, ACH transfer and instant deposit. ACH transfers provide money in 2-3 business days and are free. Instant deposits usually provide money in minutes (even on weekends) and cost $3.99.
Where does the money for the Cash Out come from?
Homebase directly provides the pay advances to your employees’ bank account or debit card, so you are not involved.
Why do some of my employees have access to Cash Out and others do not?
Employees are not eligible until they have logged enough hours (typically ~5 hours). If they are eligible and cannot cash out yet, they need to enroll by connecting a checking or debit account with two recurring direct deposits. If they have worked enough hours and connected a qualifying account, yet are still not able to cash out, then please contact Homebase support.
How do employees receive the Cash Out?
We connect to employees’ checking or debit card accounts so that we can deposit the money directly. No middle man.
How does an employee repay the Cash Out?
When the employee receives their next paycheck, we pull the money directly from their account. Simple, easy, and automatic.
What happens if an employee doesn’t pay back the Cash Out?
We don't charge an interest rate, impact their credit score, or hold you accountable for repayment. Employees cannot take another cash out until they have repaid their balance.
What is the max amount that an employee can Cash Out?
Employees may have different max amounts depending on a few factors. The max any employee can cash out is $200 per pay period.
How many times can employees use Cash Out?
Employees can take as many Cash Outs as they want each week, with a maximum outstanding balance of $200 per paycheck.
How do overdraft protection and balance alerts work for Cash Out?
When employees sign-up for Cash Out, they have the option to turn on low balance alerts and overdraft protection. If they opt-in, we monitor their connected bank account and alert them with a notification if their balance falls below $100. If it falls below $50, we will automatically cash out the max amount available so that they can hopefully avoid over drafting. Because we f***ing hate overdraft fees as much as you do.
Who should my employees contact if they have questions about Cash Out?
They should reach out directly to email@example.com.