Direct Deposit at Expiration

When a user receives a reward, they have the option to send that reward to a bank account or debit card using their existing DailyPay account or by enrolling in DailyPay and creating a new account. For users who choose not to accept their reward in real-time via DailyPay, ‘Direct Deposit at Expiration’ was created to ensure that they are still able to receive it.

 

When ‘Direct Deposit at Expiration’ (DDE) is selected, the reward amount will be direct deposited into the recipient's bank account upon expiration if DailyPay has the direct deposit information on file. Full Permission admins will have the option to add the recipients' direct deposit information in the Reward Sent list for non-active users. 

How it works:

(1) When sending a reward, the issuer has the option to enable DDE - this option is enabled by default and can be turned off. If a reward is sent through a Campaign, the DDE option is inherited from the Campaign.

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(2) The DDE Setting is displayed on the Reward Sent List. If the option to ‘Add Account’ is displayed, we do not have the recipients’ direct deposit information on file. Full Permission admins are able to add direct deposit information for users that are not active DailyPay users. 

*Note: Adding a bank account to an inactive users’ account does not change their DailyPay user status and has no impact on their paychecks moving forward. 

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Full Permission admins receive an email 48 hours before the reward expires if we do NOT have direct deposit information on file. See email below: 

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(3) If we have the direct deposit information at the date of expiration, we send the user the Reward via direct deposit. We start sending the payments at 9am the following day and the payment will reach the users bank account by end of day. The user will receive an email once the Reward has been deposited into their account.

(4) If we never receive direct deposit information, the Reward will expire and will not be deposited into the user’s account. Coming soon: option to reissue the Reward.

(5) If the Reward payment fails due to an incorrect bank account, the Full Permission admin will receive an email notification. You will then have the option to add in a new bank account. 

*Note: You will only have the option to add a bank account for users that are not active DailyPay users. Adding a bank account to an inactive users’ account does not change their DailyPay user status and has no impact on their paychecks moving forward. 

 



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