InteliSpend to Offer Payroll Advances With FlexWage

by Mercator Advisory Group 0

InteliSpend Prepaid Solutions LLC, a division of Maritz Holdings Inc., announced that it has signed an agreement with FlexWage Solutions LLC to offer employees and clients early access to earned wages via payroll cards.

InteliSpend Prepaid Solutions, LLC and FlexWage Solutions LLC (FlexWage®) announced a new partnership incorporating FlexWage’s payroll card and unique WageBank® solution, a benefit that enables employees to responsibly access earned wages in advance of their scheduled payday. InteliSpend will be rolling out the product and service to its employee base and incorporating them into its suite of product offerings to clients.

The FlexWage product is different than a payday loan because cardholders can only draw down wages they have already earned. They pay a fee for the privilege of access their pay early — $3 to $5 in most cases — but they can only take funds they have already earned. Employers can set limits on how much can be accessed at any one time.

Click here to read more from the company’s InteliSpend’s press release.