WAGESTREAM

What is Wagestream?

Wagestream is a brand new work benefit, aimed at giving your more control over your finances and supporting your financial wellbeing going forward!

Wagestream charity-backed organisation used by over 1 million people worldwide. They partner with a range of businesses to let staff track and instantly access their wages whenever they need to, save direct from their salaries, and access financial education. Their mission is to improve the financial resilience of all working people by providing financial products and services that give and don’t take.

What can I do on Wagestream?

Track what you earn in the app in real-time, review your activity history and set monthly reminders to ensure you never miss a payment.

Access up to 40% of your pay as you earn it to help cover costs and expenses before payday. Wagestream charges a small fee of £1.75 per transfer.

The in-app savings pot feature lets you save money direct from your salary and be in with a chance of winning matching cash prizes each month of up to £50!

Tap on coach for access to a financial education section containing tips, tricks and short in-app courses to help you make the most of your money.

How do I get started?

Before beginning the enrolment process, please ensure Next hold your current email address. You can check this in the Next Employee Portal.

NOTE: The email address you use for Wagestream cannot be an email address that you share with another person (e.g. a partner or spouse).

Step 1: Download the app

Download the Wagestream app for free from the Apple App Store or Google Play Store on your iOS or Android smartphone or tablet.

Please note that desktop and other mobile operating systems are not supported at this time

Step 2: Enrol through the app

There are three ways to enrol in Wagestream: via Yapster, via Next Employee Portal (NEP) login, or directly through the Wagestream app, depending on which access you have.

  • For step-by-step Yapster instructions, please click here.

  • For step-by-step NEP login instructions, please click here.

  • For step-by-step Wagestream app instructions, please click here.

If you run into any trouble during this process, please contact the Wagestream Customer Support team for assistance.

NOTE: By enrolling in Wagestream, your bank details in NEP will change to newly created, unique Wagestream payment account details. This change occurs solely so Wagestream can send transfers and salary payments to your bank account that’s on file with Next. This does not remove or erase your personal banking details on file with Next and is a completely normal part of the enrolment process

Win BIG with Wagestream

Win £750 cash!

If you sign up and start saving by Friday 27th May 2022, you’ll also be entered into a prize draw to win £750!

Save & Win

If you save with Wagestream, each month you’ll be automatically entered into a prize draw and you could get your monthly contribution doubled, up to the value of £50!

FAQs

Why are the bak details different on my payslip?

If you are enrolled in Wagestream - you will see an account with sort code 04-00-72 - don't worry, you'll still be paid as normal to your personal bank account as shown in Wagestream app > Profile > Bank Accounts.

Why has Next partnered with Wagestream?

We think that Wagestream is a useful and responsible addition as it:

  • is designed to give colleagues more options when facing a financial emergency.

  • has sensible limits built in.

  • offers an easy way to save, helping build colleagues’ financial resilience.

  • provides free financial products and services that give and don’t take, available day or night.

How does Wagestream work?

At the touch of a button, the Wagestream app allows you to access a portion of your earned income, every hour of every day.

Log into the app to view your wages, then instantly select the amount you wish to transfer directly into your bank account. This balance will accumulate throughout each pay period and reset on payday.

Will I be charged a fee if I don’t access my wages?

No — if you don’t make a transfer, you don’t pay any fees. You can use all of the other features Wagestream has to offer for free, such as tracking your wages, setting recurring payment reminders, utilising the financial well-being learning tool or savings programme, and more.

What does it cost to use Wagestream?

The app is free to download. The first ten transfers of a pay period will incur a convenience fee of £1.75 each. Any additional transfers you make beyond those will still display a fee on the app; however, these fees will be directed back to your net pay on payday. This activity will be available to view on your Wagestream statement.

No matter the amount you choose to transfer, these fees are the only cost to use Wagestream. At the end of the pay period, any of your net salary not already accessed will be paid as normal, minus any convenience fees.

Does Wagestream affect my credit score?

No. As Wagestream is not a loan, they do not share data with any credit reference agencies.

Do I meet eligibility requirements to join the Wagestream service?

Eligibility for Wagestream can vary depending on a few different factors. For a full list, please visit the Wagestream Help Centre article Am I Eligible to Join Wagestream?

My salary is paid into my building society account. Can I still use Wagestream?

This depends on the type of account you have with your building society. Whilst most standard UK bank accounts have an 8-digit account number and 6-digit sort code, some accounts utilised by a building society may also have what’s referred to as a ‘building society roll number’ or just a ‘roll number’ — a reference code with letters and numbers.

Banking accounts that require this additional roll number are not compatible with the Wagestream platform and an alternative will need to be used. To check whether a bank or building society you’re sending money to can receive Faster Payments, use this sort code checker.

How long will my enrolment take to complete?

Enrolling with Wagestream takes less than a minute. However, once you have completed your part of the process, a few items behind the scenes will need to take place before your enrolment is complete. This is normally completed within 24 hours but may take up to one week if enrolling within 6 days of payday. You will receive an email confirmation upon completion.

Is there a minimum transfer limit?

Your available balance shown in the Wagestream app must be above £10 before you can make a transfer

How is my available balance in the Wagestream app calculated?

If you haven’t earned it, you can’t access it

Shift-based earnings Colleagues who work hourly shifts will have access to a percentage of gross earnings depending on the type of shift worked:

  • Standard shifts: 40%

  • Overtime shifts: 60%

All worked shifts should typically be submitted to Wagestream within 24 hours after you clock in and out for the shift but can vary.

Please note that any additional hours, overtime, and premiums will display a clock symbol in the Track section of the app. Ineligible hours such as parental leave, annual leave and sick pay will not be included in your available Wagestream balance.

Salaried accrual

Salaried colleagues will see 40% of gross estimated pay accrue on the app once per day from Monday through Friday. This balance may include wages from:

  • Regular salaried pay

  • Holiday pay

  • Lieu

  • Paid absences

NOTE: The following types of leave are not eligible for Wagestream and will instead be paid to you on your regularly scheduled paycheck as applicable: Adoption Leave, Authorised Unpaid Absence, Exempted Sickness, Maternity Leave, Paternity Leave, Shared Parental Leave, Sickness - Reported Correctly, Sickness - withhold CSP, Time Off Available

Your balance will accumulate throughout each pay period and reset on payday.

Only a percentage of these earned wages are eligible to access. Next supports your financial health by setting certain limits on all Wagestream activity to protect colleagues from accessing too much too soon, leaving you with limited funds on payday. Colleagues may stream up to a maximum of £3000 per pay period. 40% to 60% of earned wages are available to access as they are earned and submitted to Wagestream.


How do I transfer my wages?

  1. Once successfully enrolled, log into the app and check your available balance(s). This can be located on the central tab of the app.

  2. Slide the bar to the right to select the amount you want to transfer.

  3. Once satisfied hit the Transfer button. The money will be in your account within a few seconds, via Faster Payments.

For detailed instructions, please visit How to Access Your Wages.

My shifts or accrual don’t look quite right. What do I do?

Shift-based earnings

To check your worked shifts, you will want to view your timecard. All timecard exceptions are passed to a manager to approve, so if you have any questions or concerns about your timecard, reach out to your line manager for assistance.

Salaried accrual

If you are salaried, you will need to review your payslip for any discrepancies as you will be paid according to your contract unless you have claimed additional hours or added any absences. Any discrepancies should be brought up with Payroll.

How can I opt in to the Save feature?

Save is a micro-savings project brought to you by Wagestream. The idea is to automatically set aside a small amount from your paycheck, allowing you to build up a rainy-day fund.

  • Set a savings goal and easily save up to a total of £1000.

  • Save as little as 50p per pay period, up to a maximum of £100.

  • Withdraw instantly from your savings pot for free at any time.

  • Enjoy free entry to a monthly prize draw with the chance to double the contribution in your savings pot up to a maximum of £50.

For detailed information on the project and how to join, please read the Save FAQs.

How can I learn about financial wellbeing through Wagestream?

Wagestream have teamed up with The Money Charity and the Government’s Money Advice Service to offer easy to follow help on making the most of your money.

  • Bite-sized in-app tips and tricks to help improve your financial skills

  • Articles on a range of topics, including budgeting, how to manage and avoid debt, and saving

  • All content provided by impartial, expert sources

For access, tap Coach after logging into the Wagestream app

How do I update my banking or personal details?

Most personal information associated with your Wagestream account will be updated through the Next Employee Portal as usual.

  • Banking: Use the Next self-help guide on NEP titled “Update my payment methods”.

  • Email: There are two ways to change your email depending on how you originally signed up for Wagestream.

  • If you signed up via Yapster or the NEP: Use the NEP to update your email address. When Wagestream receives the next data update (typically within 24 hours), it will update in their systems.

  • If you signed up directly on the Wagestream app: Please contact Wagestream Customer Support to change your email address.

How will my salary be affected if I access my wages?

On payday, you will receive your net pay as normal, minus any transfers you’ve made through Wagestream and any convenience fees for transferring.

As Wagestream is not a loan:

  • Once you have accessed your wages, they are considered as received. This means you will not receive those wages again with your upcoming paycheck.

  • This information will not be shown on your payslip from Next.

You will also receive a Wagestream activity statement detailing any transactions you have made through Wagestream, which you can compare to your payslip for more details.

Why is the information on my Wagestream account different than my payslip?

The payslip you receive from Next and your Wagestream account show different information as they track different aspects of your finances.

Look to your payslip from Next to see the following:

  • Your total wages including any variable pay such as sick pay

Any deductions for taxes, NI contributions, etc. NOTE: Your Wagestream activity will not be reflected in the payslip you receive from Next.

Look to your Wagestream account monthly statement to see the following:

  • Your net wages for worked shifts or salaried pay y Any transfers you’ve made through Wagestream

  • Any fees incurred for transfers made

Any savings contributions you’ve set aside through Save Look to the Track section of your Wagestream app to see the following:

  • Your gross estimated wages for worked shifts or salaried pay.

  • Any transfers you’ve made through Wagestream

  • Any fees incurred for transfers made To check your payslip from Next, log into the NEP and search for “View my payslips” under the self-help section.

I’m currently working my notice. Can I still use Wagestream?

No. If you have resigned and are working your notice period, you will no longer have access to Wagestream. On your last payday, you will be paid the remaining total of your wages not already accessed as normal, minus any convenience fees in addition to any funds from your savings pot.

NOTE: Wagestream does not have the ability to reactivate your account once your notice has been received and your account disabled.

My account has been paused/disabled and I’m not sure why. What do I do?

As mentioned above, Wagestream does not have the ability to reactivate your account if your account has been paused or disabled by Next. To enquire about a paused or disabled account, log an incident via ServiceNow.

Can I opt out of the Wagestream service?

Yes. This is not a problem, you will simply need to reach out to Wagestream Customer Support and confirm your employee ID. Customer Support will then action this on your behalf.

If you choose to leave Wagestream your account will automatically be disabled and you will no longer have the ability to stream your wages. You will receive your last statement from Wagestream on your next scheduled paycheck where you will be paid the remaining total of your wages, minus any convenience fees.

If you want to re-join Wagestream at a later date, the process will take a minimum of 7 business days, but could be longer. An alternative solution is to pause your account. This means you will not be able to stream your wages; however, if you were to face a financial emergency in the future, you can request to have your account unpaused for you which happens immediately.

Who should I contact if I have questions about Wagestream?

The FAQs in this document will help you navigate the basic uses of the Wagestream service. If you still can’t find the answer to what you’re looking for, the Wagestream Help Centre contains a treasure trove of information to help provide the answer you need.

You can also contact the Wagestream Customer Support team through the in-app chat feature in the Wagestream app, or via the website wagestream.com. The team are a friendly bunch and are happy to help!