Your questions answered: Explore everything you need to know about using Floatpays, whether you're an employer or employee.
All data is stored and encrypted at rest using an industry-standard AES-256 encryption algorithm. Floatpays uses Web Application Firewalls (AWS WaF) that protects our web applications and APIs against exploits that may affect availability, compromise security and data safety. All transfer of data is performed securely over TLS encrypted networks. Third-party application, network penetration tests and CREST-accredited continuous ethical-hacking is performed by CovertSwarm against our entire product suite to ensure we comply with the highest security standards.
Your employees will have access to a number of support channels that they can use to chat to us directly. These include: Email: support@floatpays.co.za Whatsapp: +27 64 538 9323 In-app chat Website: www.floatpays.com We will also provide you with digital communication about Floatpays and how it works, which can be shared with your staff via your internal communication channels.
We can work with any payroll system, whether it be fully automated or manual systems. We work with your existing payroll process.
Our fully automated integration process takes no longer than 30 minutes to complete.
Because Floatpays is not a loan, we do not charge interest on any earned wage withdrawals (via cash or voucher). We do charge employees a small once-off transaction fee for cash withdrawals (EFT & Instant Money Vouchers). You can think of this charge as similar to a bank charge for a withdrawal at an ATM. The charges comprise of a flat fee plus a % of the amount withdrawn. The Floatpays savings account does not carry a recurring monthly account fee or set-up fee. When employees cash-out on the pay-out date, a once-off fee of R10.00* applies. (*2024 pricing)
There is zero cost to the employer to offer Floatpays as a benefit to their staff. An employer may choose to subsidise a portion or 100% of an employee’s transaction fees associated with cash withdrawals (voucher withdrawals are fee-free) and/or the cash-out fee of R10.00*, for their employees. (*2024 pricing)
Floatpays gives you, the employer, the ability to: Set the % limit that employees can withdraw Set the number of withdrawals and voucher purchases an employee can make during the pay cycle Set the % limit that employees can save Limit who in your organisation can access Floatpays Configure what Floatpays features your employees can access Access control to withdrawals and voucher purchases based on active auto savings account The rule set required for your business is agreed upon with Floatpays before implementation.
With Floatpays, employees can access a portion of their earned wages (EWA) before payday, giving them the financial flexibility they need—without the burden of high-interest loans or pay day loan debt traps. EWA is not a loan, and it costs your business nothing. You stay in control, setting the limits on how much employees can access. Plus, with built-in savings tools, Floatpays helps employees break the cycle of financial stress and build a stronger financial future.
You as the Employer have full control to set access limits (% of the salary which may be withdrawn, or a flat limit), access criteria (Full time employees vs contracted or other)or withdrawal limits on voucher purchases or bank/cash withdrawals. The Moneyclub by floatpays team advises on best practices and data to assist in this process.
Earned wage access allows employees to access a portion of their already earned wages before payday. It’s not a loan — there are no interest fees or debt traps. EWA helps with emergencies and unexpected expenses that play out before payday.
True financial wellness means building for the future — not just reacting to emergencies. EWA helps with immediate needs; saving helps employees plan and grow toward long-term goals. Floatpays offers three savings products: Automated Company Savings, Goal Save for personal goals and Savings Clubs for Group based savings, all with top tier interest rates.
Goal Save: Employees set personal savings goals (like school fees, saving for a holiday, car or home renovations), track progress, and save intentionally. Savings Clubs: Employees can create secure group savings clubs with colleagues, friends, or family — encouraging collaborative saving with transparency.
Employees can opt into automated monthly savings via the Moneyclub app. The selected amount is deducted from their earnings and deposited into an interest-bearing savings account, promoting consistency and financial discipline.
Moneyclub by Floatpays is already integrated into all major payroll systems. Integration is seamless — via API or flat file. Your current payroll setup doesn’t need to change. Moneyclub by Floatpays works alongside your existing payroll process. All deductions and reconciliations are managed automatically with minimal administrative overhead.
Activation is quick and straightforward. Our dedicated onboarding team will guide you through the setup process. Once active, employees can download the app and self-register to begin using the platform immediately.
Employees register individually through the app by providing their ID or passport, and in some cases, proof of residence. There is no need for a bulk upload process, reducing complexity and administrative load for HR teams.
Providing Earned Wage Access and Savings through Moneyclub by Floatpays is free for employers. Additional features such as payslip linking may be tailored to your company's needs at minimal cost.
Yes. Moneyclub by Floatpays is a bank level secured platform protecting all transactions and data. Floatpays (Pty) Ltd is an authorised Financial Services Provider (FSP 52120), a registered credit provider (NCRCP 16757), and fully POPIA-compliant. We take data privacy and financial regulation seriously.
Moneyclub by Floatpays is a financial wellness platform designed to support employees with tools to promote healthier money habits. The platform offers Earned Wage Access (EWA), automated company savings, goal-based savings, and group saving through Savings Clubs — all in one app.
Your withdrawal transactions and/or savings contributions will come off your paycheck at the end of the paycycle. If you are a weekly earner your transactions will come off at the end of the same week that you made them. If you’re a monthly earner your transactions will come off at the end of the same month that you made them in.
Your withdrawals via EFT will be paid into the same bank account that your wages/salary gets deposited into. We use the bank account information that your employer provides us with. If you need to change your bank account details you will need to speak to your employer about doing this.
It can take up to two business days for the money to reflect in your bank account.
An Instant Money voucher lasts 3 years. Please keep in mind that even though the voucher is valid for 3 years, when you withdraw your earned wages using this voucher the withdrawal amount plus transaction fee will come off your salary/wages in the month/week of the withdrawal.
The minimum and maximum amount that you can withdraw is set by your employer and will differ from company to company.
You do not get charged interest on your withdrawals. You get charged a transaction fee per withdrawal.
Earned Wage Access When you withdraw your earned wages using an EFT or Instant Money Voucher, you will pay a once-off fee per withdrawal. This fee is calculated as a flat fee plus a % of the amount you are withdrawing and can vary. When you use your earned wages to purchase any prepaid voucher you do not pay a transaction fee. You only pay for the value of the voucher you are purchasing. Savings There is no monthly account fee or setup fee to create the account. When you cash out your savings on the payout date you will pay a once-off fee of R10.00* only. (*2024 pricing) Free Services You can access free financial education and a budgeting tool on the Floatpays app.
No, you can use Floatpays on any type of mobile phone on the app or using the USSD code.
If you have not received a SMS with your invite token from Floatpays yet (but your colleagues have), please contact your payroll team to check that the cellphone number they have listed for you matches the one you are using. We send your invite token to the number that your employer has on file for you - if it is different, your employer needs to update your details in order for an invite token to be resent to your new number.
Moneyclub is your smart money app that helps you save solo or in a group, track your financial goals, access part of your already earned wages, manage debt, and learn how to grow your money. Anyone can sign up with Moneyclub by Floatpays for personal Goal Save and to create or join a Savings club. Earned wage access and company savings can only be accessed if your employer partnered with Floatpays.
Moneyclub includes Savings Clubs, Goal-Based Savings, Earned Wage Access (EWA), Company Savings (if offered by your employer), budgeting tools, financial education, debt solutions, a wealth calculator, and more.
Earned Wage Access lets you access a portion of your already earned salary before payday. You can use it to buy airtime, electricity, Shoprite vouchers, or withdraw funds via EFT or Instant Money voucher (if offered by your employer).
If your employer offers this feature, you can set a monthly deduction from your salary to save automatically. You can adjust, pause, or resume this saving anytime in the app.
You can create personal savings goals (like a holiday, emergency fund, or school fees), set target amounts and dates, and receive reminders to stay on track while earning top-tier interest.
Savings Clubs allow you to save with others for a shared goal like a digital stokvel. You can create a club, set rules and reminders, invite members via a link, top up using EWA or EFT, and cash out once the target amount or date is met. Savings clubs are designed to be transparent, safe and accountable in group savings with little effort and earn top-tier interest.
Download "Moneyclub by Floatpays" from your app store, sign-up in under 5 minutes with your phone number, upload your ID, and follow the verification steps. Existing Floatpays users simply log in with their existing credentials.
Simply go to the Settings tab in the app to update your phone number or bank account securely. Verification steps are included to ensure your information is protected.
Yes. Moneyclub is a regulated Financial Services Provider and Credit Provider. The app uses encrypted, bank-grade security to protect your information and funds.
The app includes a Smart Money Tracker, Debt Solutions in partnership with Debt Busters, a personalized Financial Education quiz, a Wealth Calculator, and a full Budgeting section to help you plan and grow your finances with confidence.
