With a host of innovative features to help employees manage their money, the PayCaptain app gives employees increased control over their finances, as well as offering support in times of financial hardship.
One of the features that’s incorporated into the app is Payment Splitting. This functionality gives the employee the capability to set up automatic payday payments from within the app, directly from their net pay. This eliminates the pain and potential stress of having to move money around after getting paid and also removes the risk of missing payments or paying essential bills late.
To improve financial resilience, employees can send payments to savings and ISA accounts, or transfer balances to personal and joint bank accounts.
Employees can also set up automatic payday payments into their mortgage or landlord, as well as credit cards or loan repayments. Payments for household or personal bills can be set up as well as payments made to friends or family members.
In recent months, the PayCaptain team has seen an increase in employees who automatically send a proportion of their pay to their crypto-currency accounts, like Coinbase, or share trading accounts like Freetrade. This is sent direct from their net pay using Payment splitting.
There is no limit to the amount of Split Payments that are set up in PayCaptain so that employees can utilise the feature for as many different types of payments as needed.