Earned Wage Access (EWA) is not a loan. EWA is a financial benefit that lets employees access a portion of their earned wages before payday without traditional loan interest. It offers flexibility, allowing early access to earned income.
Earned Wage Access with Rain is a voluntary benefit and individuals can decide whether or not to participate. Usage frequency varies from person to person, with some opting for daily use while others may only use the service on occasion. Rain offers a free 1-3 day ACH transfer, or an instant transfer option for a small ATM-like fee.
Participation in Rain’s Earned Wage Access benefit is voluntary. Employees have the choice to enroll in the program and decide whether or not to use the service. It is intended to be a flexible financial benefit that individuals can choose to leverage based on their personal financial needs.