---
title: What is ReadyWage?
description: N/A
---

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2. [Sprout Finances](https://guide.sprout.ph/sprout-finances?hsLang=en)
3. [Sprout ReadyWage](https://guide.sprout.ph/sprout-finances?hsLang=en#sprout-readywage)

# What is ReadyWage?

ReadyWage is a financial wellness benefit that allows employees to access their earned salary, anytime before payday. It offers immediate access to earned wages, reducing reliance on high-interest loans and preventing debt.

**How does ReadyWage work?**

1. See your available balance increase for every day that you work
2. Withdraw your earned salary through the Sprout HR platform
3. Receive the amount you withdrew from your payroll account
4. View the amount and transaction fee deductions in your payslip

**How does ReadyWage compute my available balance?**

ReadyWage calculates the maximum withdrawal amount using the following formula:

**ReadyWage Balance** = *\[ (* ***Daily Rate*** *×* ***Days Worked*** *) +* ***Adjustments*** *\] ×* ***Access Rate*** *-* ***Previous ReadyWage Transaction****s -* ***ReadyCash Outstanding Balance***

- **Daily Rate:** Your gross daily rate without any deductions
- **Days Worked**: How many days you have worked since the last pay cycle
- **Adjustments:** Time and attendance modifications, including Late and Undertime entries recorded during the current pay cycle
- **Access Rate**: A standard factor, determining how much of your salary you can request
- **Previous ReadyWage Transactions**: Any successful ReadyWage transactions done within the current pay cycle
- **ReadyCash Outstanding Balance:** Any ReadyCash deductions due for the current pay cycle

**How can my company apply for ReadyWage?**

To initiate your ReadyWage application, kindly contact your assigned Customer Success Manager. They will endorse you to one of our Success Consultants, who will arrange a personalized demo to provide you with a comprehensive understanding of ReadyWage.

Curious about how ReadyWage works on Mobile? Click [here](https://youtu.be/MY8qU5M0h3M) to see it in action!

Lastly, we’re committed to your financial well-being—explore everything Sprout Finances has to offer through our latest[explainer video](https://youtu.be/KPizTrUpkz8).

*Want real-time responses? Explore [Sidekick](https://sidekick.sprout.ph/), your 24/7 guide for product inquiries!*

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