As of 2020, 56 millions of Americans used EWA when they needed it to meet immediate expenses before payday. 

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At present, unregulated EWA providers offer consumers the possibility to receive part of their earned wage on debit cards and checking accounts, and by doing so attract billions of dollars of paycheck deposits away from banks and credit unions.

 

As a result, banks and credit unions are losing customers and revenues to EWA providers and to other digital banks offering early pay features to their customers.

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EWA is a financial product by nature, and a low-risk alternative to expensive and increasingly controversial overdraft and payday loans, repaid through automated payroll deductions, which should be offered by banks and credit unions. 

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Thanks to AcceleWage, banks and credit unions can offer more competitive and safer EWA solutions to American workers. 

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