Introducing EZ Cashout: Get Paid Faster

1. What is EZ Cashout?
EZ Cashout, our exclusive benefit for Workmate workers, offers a swift and flexible way to access and cash out up to 70% of your hard-earned wages before the end of the month. This feature is designed to provide financial flexibility, empowering you to manage your finances conveniently.

2. How to Use EZ Cashout:
Accessing EZ Cashout is simple through our app's "Earnings" tab:

• Your total available amount for cashout (set to 70% of estimated total earnings) is displayed in the "Available to Cash Out" section.
• Just select the amount you wish to cash out and tap on "Withdraw Cash"
• Expect to receive your cashout funds within 1 - 2 business days.
  
  

Things to Note:

• The remaining 30% is held until the end of the month, covering CPF contributions, government-related costs, and any voided timesheets. Any remaining balance is credited to your bank account on the 7th of the following month.
• Minimum withdrawal amount is S$30.
• A S$0.50 transaction fee by the bank applies. Workmate covers the transaction fee for the first withdrawal of the month, subsequent withdrawals within the same month will incur the $0.50 surcharge.
• Suspended workers are not eligible for this feature and will receive their pay on our regular pay cycle.

Explore the flexibility of EZ Cashout and experience the ease of managing your finances on your terms. If you have any queries or need assistance, feel free to reach out to our Worker Support Team through the Workmate app.

3. EZ Cashout Terms and Conditions:

• Eligibility:
  
  • EZ Cashout is available exclusively for active Workmate workers.
  • Suspended workers are not eligible for EZ Cashout.
    
    
• Withdrawal Limits:
  
  • Workers can cash out up to 70% of their estimated total earnings before the end of the month.
    
    
• Holding and Deductions:
  
  • The remaining 30% is held until the end of the month, covering CPF contributions, government-related costs, and any voided timesheets.
  • Any remaining balance after deductions is credited to the worker's bank account on the 7th of the following month.
    
    
• Minimum Withdrawal and Transaction Fee:
  
  • The minimum withdrawal amount is S$30.
  • A S$0.50 transaction fee is applicable per withdrawal. Workmate covers the fee for the first withdrawal of the month; subsequent withdrawals within the same month will incur the $0.50 surcharge.
    
    
• Processing Time:
  
  • Upon cashing out, workers can expect to receive the funds within 1 - 2 business days.
    
    
• Usage Frequency:
  
  • Workers are encouraged to use EZ Cashout responsibly, keeping in mind its purpose as a flexible financial tool.
    
    
• Overpayment and Repayment:
  
  • In the event of overpayment due to system errors, duplicated payments, missing deductions of government-related costs, or edited timesheets, the overpaid funds must be repaid to Workmate.
  • Workmate will notify the worker of the overpaid amount as soon as possible.
  • Repayment will initially occur via deduction on the next payroll. If the worker has ceased working for Workmate, they must repay the overpaid amount via bank transfer within 30 days.
  • Failure to repay within 30 days grants Workmate the right to pursue payment through other channels.
    
    
• Accuracy Disclaimer:
  
  • Workmate will not be liable for any losses or damages caused by inaccurate or incorrect information provided by the Worker.
    
    
• Policy Updates:
  
  • Workmate reserves the right to update or modify the EZ Cashout terms and conditions. Workers will be notified of any changes.

4. EZ Cashout FAQs:

Q: How often can I use EZ Cashout?
A: You can use EZ Cashout as frequently as needed. However, keep in mind the S$0.50 surcharge for subsequent withdrawals within the same month.

Q: How can I check my available amount for cashout?
A: Your total available amount is displayed in the "Available to Cash Out" section under the "Earnings" tab in the Workmate app.

Q: I have completed my shift, but the amount is not reflected in my "Available to Cash Out." Why?
A: The amount may not be reflected due to two possible reasons:
Unsuccessful clock-in/out: Ensure you have successfully clocked in and out for your shift.
Pending timesheet confirmation: Your supervisor must confirm your timesheet for the amount to be reflected in your earnings. The amount will only appear once timesheets are confirmed.

Q: Is there a maximum or minimum withdrawal amount?
A: The maximum withdrawal is 70% of your estimated total earnings, while the minimum withdrawal amount is S$30.

Q: Why is the remaining 30% of my income retained?
A: The remaining 30% is held until the end of the month to cover CPF contributions, government-related costs, and any voided timesheets. It ensures accurate financial processing and compliance.

Q: Where can I check the status of my EZ Cashout request?
A: You can conveniently monitor the status of your EZ Cashout request under the "EZ Cashout" tab on the Earnings page in the Workmate app.

Q: Why is my "Available to Cash Out" amount suddenly $0?
A: It is expected at the start of the new month as we initiate the processing of your salary. Your "Available to Cash Out" amount will show as $0 during this period. Rest assured that your full payment will be credited to your account on the 7th of the following month.

Q: What happens if I do not wish to cash out my money?
A: If you choose not to cash out your money by the end of the month, your full month's salary will still be automatically credited to your account on the 7th of each month. There's no need for additional action on your part; the process ensures your earnings are seamlessly transferred to your account.

Q: Does this payment process apply to Freelancers as well?
A: Yes, freelancers follow the same payment process, including the 70/30% cashing out rule. However, freelancers are not required to contribute to CPF.

Q: What happens if I am suspended?
A: Suspended workers are not eligible for EZ Cashout. Your pay will be processed on our regular pay cycle.