Frequently Asked Questions

• What is Earned Salary Access?
  Earned Salary Access (or ESA) is an optional financial wellness program provided by Wakalu through the employers to their employees, which allows employees access to withdraw a portion of their salary as soon as they've earned it.
• Is this a loan?
  No, this is not a loan. It is interest-free, and only based on what the employee has earned.
• I am interested in signing my employees up. But what is the employer's role in this process?
  Once the employer signs up with Wakalu, the employer will only need to work with Wakalu to facilitate onboarding of its employees and making the deductions of the ESA from employees' payroll at the end of the month and remitting the repayment to Wakalu. Wakalu will handle everything in between.
• Are there any costs to the employers?
  No, there are no costs to the employers to provide this ESA service to their employees.
• Are there any costs to the employees?
  Wakalu charges a small processing fee on each withdrawal transaction. Other than that, there are no additional or hidden charges on the employee.
• Who disburses the amount of ESA applied by the employees?
  The ESA applied for will be disbursed directly by Wakalu into the salary bank account of the employee.
• I like the idea of my employees having a financial safety net but I am concerned about overuse and misuse.
  Financial wellbeing is at the heart of what we do. As such we have put in place several procedures to eliminate overuse and misuse. Wakalu will also consult and work closely with employers to ensure the withdrawable amount fixed is sufficient for its employees emergency use only.

Contact Us

Have any further questions? Reach out to us at hello@wakalu.com !