Wagestream - your
financial wellbeing app

Everyone deserves to feel financially resilient, empowered and secure. That's why we’ve teamed up with Wagestream to help you shape your money management around your life .

One of the key features of Wagestream’s dedicated, easy-to-use app, is you can access up to 30 per cent of your pay as it’s earned. This means you don’t have to wait until payday. And that could be a real help should the washing machine break or you’ve a friend’s big birthday bash coming up. 

The stream feature is designed to give you flexible access to your pay and put you in control of your finances.  The app allows you to set your own self controls.  e.g. limit the maximum value of a single transfer, number of streams in a month, time locks etc.  Wagestream will also send helpful nudges to help you manage your money better and you can chat to a financial coach in the app when you need to.

And that’s not all.  Eligible colleagues can also access a range of digital money tools and services via the easy-to-use app.  

What Does Wagestream Offer?

  • Stream – ‘stream’ (in other words, advance) up to 30 per cent of your basic pay as it’s earned and that includes overtime. Your streams are then automatically repaid to Wagestream at payday, directly from your pay before it lands in your bank account. Please note, this service is fully administered by Wagestream, who charge a fee of £1.95 per stream. You’ll need to contact Wagestream directly (rather than payroll) if you have any queries about your streams
  • Build Pot – save money directly from your salary and earn a boost too. You can build a pot of money for a rainy day to help you manage unexpected costs in the future.  It works by setting a savings goal in the app and telling Wagestream how much to take from your pay on payday (between £5 and £100 per month). You can save up to a total of £1,000 in your pot and withdraw it at any time, free of charge 
  • Loans – consolidate high-interest debt with competitive interest rates to help you manage your money better. Applications are made through the app. 
  • Financial Hub – get access to useful educational documents and videos on all things money-related
  • Financing coaches – access one-to-one financial coaching via chatbox, with an Ai or human coach
  • International transfers – the ability to transfer money abroad 
  • And much more…  

It’s free to download and register on the app. Some individual services are chargeable (i.e. there is a fee for each time you stream, interest is charged on loans etc.). Full details of the relevant costs will be provided through the app when you apply for a chargeable service.

We have  a duty of care to our colleagues. This means colleagues who already have salary deduction arrangements in place, such as Cycle2Work, Electric Vehicles, Salary Finance loans etc. will not have access to stream and will not receive an invite to register for Wagestream (unless already an active Salary Finance user). Volunteers and contractors will not have access to Wagestream. 

If you’re not eligible for streaming but are interested in accessing other Wagestream services, please contact reward@anchor.org.uk and we’ll be happy to review and consider your request on a case-by-case basis. 

Wagestream is accessible via an app for colleagues eligible for it. You’ll be sent an invite email from Wagestream when the app launches and new starters will receive an invite email shortly after joining.  Alternatively, if you can’t find your invite email, simply download the app onto your smartphone or device and follow the sign-up instructions on screen using your email address (it must match the email we have on file for you and we use your work email as the default). 

Please contact Wagestream directly, by logging into the app and finding the link to support in the contact section of their Help Centre.  Please don’t contact payroll, as they’ll be unable to help you as they don’t have access to Wagestream’s information or systems. 

You may find the answer in the FAQs so check out the Wagestream Help Centre here or email support@wagestream.com if you’re unable to log into the app. 

Hourly paid colleagues in Care who work shifts can stream throughout the month (except pay day) as long as they’re eligible and have worked shifts which have been processed in payroll. 

If you’re a salaried or hourly paid colleague not in Care, as you’re paid for a full calendar month each payday, you can stream from the second of the month to the day before payday – as long as you’re eligible and have accrued earned wages. 

We’ve a duty of care to ensure colleagues receive a reasonable amount of their pay on payday. So the amount you can stream at any one point in time is a maximum of 30 per cent of what you’ve earned to date in that pay period

Example 1 – if you work shifts and you’ve earned £200 in total from working two shifts (and they have been processed in payroll), then you can stream up to £60 (30% of £200).

Example 2 – if you are salaried and earn the equivalent of £100 a day from your annual salary, you can stream up to £30 for every complete calendar day in the pay period.  So if it is the third of the month you can stream up to £60 (2 x £30) and on the forth day of the month up to £90 (3 x £30) etc.  See ‘how is the amount I can stream calculated?’ for a breakdown of how daily pay is calculated. 

Log into the app to see your account. If you have any queries, please contact Wagestream directly, by logging into the app and finding the link to support in the contact section of their Help Centre.   

Please don’t  contact payroll as they’ll be unable to help – they don’t have access to Wagestream’s information or systems.

When you request to stream in the Wagestream app, the payment will go to the bank account we have on file for you. It will then show as coming from Anchor on your bank statement so you can recognise the payment. 

Unfortunately, due to the way Wagestream works we need an email address for each colleague in order to send an invite email. If we don’t have one for you, you won’t be able to register.  

However, if you add an email address into MyHR ESS (click on view profile in the top left corner) and let reward@anchor.org.uk know, we can sort it out for you. 

Additionally, it may be because you have your salary paid into a building society, as unfortunately Wagestream’s technology is not compatible with building society accounts yet.  

Also, remember to check if you meet the eligibility criteria in the FAQ above. 

Please email support@wagestream.com if you’re having issues enrolling on the app.

It may be because you have your salary paid into a building society, as unfortunately Wagestream’s technology is not compatible with building society accounts yet. 

Once you’ve registered on the app, you’ll be enrolled and then you can stream – it may take a day or two for the enrolment to complete. 

If you have a zero balance/are unable to stream, it may be for one of the reasons below: 

  • No shift data has been processed yet in MyHR ESS for the current pay period 
  • If you’re a salaried colleague/colleague not working shifts, you won’t be able to ‘stream’ between pay day and the second of the following month (as you’ve been paid up to the end of the month and haven’t accrued any earnings yet in the new pay period)
  • You’re on or have taken a period of absence with nil pay 
  • You’re leaving Anchor 
  • You’ve opted out (voluntarily within the app) 
  • You’ve opted to take other benefits that reduce your salary (i.e. cycle2work etc.) 
  • We may have paused your account for another reason. 

For hourly paid colleagues in Care working shifts, this is based on 30 per cent of the total earned across all your shifts processed in payroll for the pay period (e.g. if you have worked three shifts of £100, you can stream 30 per cent of £300). 

For salaried colleagues/colleagues not working shifts, this is based on 30 per cent of your total daily accrual in the pay period. The daily accrual rate is calculated as your annual salary divided by 12 (months) then divided by the number of calendar days in the month. So for example, for a colleague on £30,000, the daily accrual rate in April (which has 30 days) is £83.  (30,000 divided by 12 = 2,500, divided by 30 = 83).   

If you work shifts in Care and are hourly paid you will be able to stream throughout the month (except payday), as long as shifts have been processed on payroll for you. Everyone else can  stream from the second of each month to the day before payday. 

Updated information is regularly passed to Wagestream to adjust your salary accrual rate as your hours/salary change. Unfortunately, backdated pay can’t be streamed. 

Updated information is regularly passed to Wagestream to adjust your salary accrual rate as your hours/salary change. Statutory pay can’t be streamed.  Once you enter a period of nil pay there will be no salary to stream. 

Yes, as long as you’re eligible and have either worked shifts in the pay period that have been processed on payroll or have accrued salary in the pay period. 

Log into your Wagestream app and navigate to Flex Pay. For hourly paid workers it will represent the shift data entered for you on TimeSmart and for salaried workers it will represent your calendar day rate. 

You will see negative values where shifts have been amended or you’ve been absent (i.e. sick, family leave etc). 

Wagestream reflects the shifts that have been submitted and processed on payroll. If you think they’re wrong, please speak to your manager to have them rectified. 

This may be because it’s not been submitted to payroll yetSalaried workers doing overtime between payday and first of the month will not see it accrue until the second of the month. Only standard overtime can be streamed. Not all types of overtime are eligible to be streamed, i.e. training overtime etc.

This is probably because your shifts have not yet been processed on payroll. However, it may be because you’re no longer eligible (including unpaid streams) or because you’ve a period of absence or overpay in the month. 

If you don’t work shifts, there will be a zero balance between payday and the second of the month (because you’ve already been paid your salary for the full calendar month).

No, you should not stream if you’ve been overpaid, as the correction will need to be applied in your next pay. 

No, you can only stream basic salary and overtime earned in the pay period you’re being paid for. 

When you put money into your build pot, Wagestream will boost your savings by adding a 5 per cent bonus (correct as at 29/05/2024). This works in a similar way to interest and is added monthly to your build pot. 

You will need to have a Build Pot so any cashback you’re due can be paid into it. 

Yes, you can unsubscribe from emails when you receive your invite email or any other email form WagestreamIf you change your mind once you’ve registered and enrolled, you can use the opt out button in the app to close your account. 

If you’ve registered for Wagestream and then chosen to opt out, you can opt back in by contacting Wagestream directlySee FAQ above for their contact details. 

When you leave, your Wagestream account is closed and any outstanding streams must be repaid.  If your balance is not cleared with Wagestream when you leave, you must repay the outstanding amount in full to Anchor as per your contract terms and conditions. 

If you’ve an outstanding loan with Wagestream, repayments will switch to a direct debit arrangement.  If you have a save pot, remember to withdraw your balance.  Wagestream will hold your data for five years in line with financial regulations. 

 This is an option, not a recommendation. Anchor does not benefit from offering this service and all your communications will be with Wagestream. Loan applications will be assessed to ensure the loan is appropriate and affordable for you. Content is for guidance and educational purposes only and is generic in nature. Wagestream does not offer regulated financial advice. Please seek independent financial advice.