Salary Finance
Financial wellness software
- Features
- Ease of use
- Ease of management
- Quality of support
- Affordability
- Market presence
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£1.69 per Advance withdrawal
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What is Salary Finance
Salary Finance is an employer-sponsored financial wellness platform that provides employees access to tools such as salary-linked loans, savings programs, and financial education. It is used by HR and benefits teams to offer workplace financial benefits and by employees to manage short-term credit needs and longer-term financial goals. The product typically integrates with employer payroll/HR systems to enable repayments or contributions via payroll deductions and to support program administration.
Employer-sponsored financial benefits suite
The platform combines multiple workplace financial wellness components, including credit, savings, and education, under a single employer program. This supports a broader set of employee needs than point solutions focused only on earned wage access or only on education. Employers can position it as part of a benefits package rather than a standalone consumer app.
Payroll-linked repayment and savings
Salary-linked repayments and savings contributions can reduce missed payments compared with manual repayment methods. Payroll deduction also simplifies ongoing administration for employees once set up. This approach aligns with common employer benefit workflows and can be easier to manage than direct-debit arrangements for some users.
Designed for HR/benefits administration
The product is structured for employer rollout, with program configuration and employee access managed through the workplace. This can help employers standardize eligibility, communications, and reporting across the workforce. It also supports use cases where employers want a governed financial benefit rather than an employee-initiated tool.
Availability depends on employer
Employees generally need their employer to offer Salary Finance to access the program. This limits reach compared with direct-to-consumer financial apps. It can also create variability in features and eligibility based on employer policy and country.
Implementation requires payroll integration
Payroll/HR integration and coordination with internal stakeholders can extend deployment timelines. Employers may need to involve payroll vendors, IT, and legal/compliance teams before launch. Organizations with complex payroll structures may face additional setup and testing effort.
Loan-based support may not fit all
A portion of the offering centers on credit products, which may not align with employers that prefer non-credit interventions for financial stress. Employees who are debt-averse or who do not qualify for offered credit may see less value. Program outcomes can depend on employee adoption and financial behavior beyond the software itself.
Plan & Pricing
Pricing model: Mixed (usage-based + product-specific fees)
Borrow (employee loans)
- Pricing model: Variable interest (APR) per loan; rates are employer- and applicant-specific (no published flat subscription).
- Typical loan amounts & terms (examples shown on employer pages): £1,000–£25,000; terms 12–60 months. Representative APRs are displayed on employer-specific pages (examples vary; see notes).
- Notes: No application fees; Salary Finance offers a price-match promise for loans under £5,000. Rate offered depends on employer and individual circumstances.
Advance (earned-pay/access product)
- Pricing model: Fixed per-withdrawal fee (no interest).
- Fee: £1.69 per Advance (Salary Finance notes the exact fee may depend on employer).
- Notes: Up to 50% of earned pay can be advanced (typical); up to 3 times per pay cycle.
Save (salary-linked savings)
- Pricing model: No charge to set up or use Save via Salary Finance; savings account provided by Coventry Building Society.
- Interest example (as listed): 2.25% AER (variable) on the Coventry Building Society account (subject to change).
Help to Save (government scheme access via Salary Finance)
- Pricing model: Government-backed scheme; Salary Finance provides an eligibility/sign-up tool. No Salary Finance fee shown for the eligibility service.
- Notes: Bonuses (50% on top) are paid by the Government to eligible savers.
Employer-facing pricing
- Public employer pricing or a standard per-employee subscription is not published on the website. Implementation and contractual terms are handled via a Services Agreement and Order Form; employers are instructed to contact Salary Finance/Business Development for details. The "Learn" product (financial education) is included with all products at no cost.
Example / Representative pieces of pricing information (from official site)
- Advance fee: £1.69 per Advance. (Advance product page)
- Save: “There is no charge for using Salary Finance to save directly from your salary.” (Save product page)
- Borrow: Loans usually £1,000–£25,000; APR is specific to your employer and individual; representative APRs are shown on employer-specific subdomain pages (examples include 11.9%–16.9% APR on employer pages).
Discounts / Trials
- No publicly listed time-limited free trials for employer services found.
- No public discounts or standard volume/commitment discounts published.
Source: Official Salary Finance website (product pages and legal/services pages).
Seller details
Salary Finance Limited
London, United Kingdom
2015
Private
https://www.salaryfinance.com
https://x.com/salaryfinance
https://www.linkedin.com/company/salary-finance/
