PNC Bank Rolls Out Employer Pay-On-Demand System
PITTSBURGH PA – PNC Bank is introducing a pay-on-demand system for employers who want to give workers the ability to access their earned pay at any time before payday actually arrives, it said Wednesday (Feb. 23, 2022).
Pay-on-demand is increasingly used by companies in the restaurant, healthcare, retail, grocery, and travel industries. It’s become a highly-sought employee benefit, the bank added.
The bank’s product, called “PNC EarnedIt,” makes net earnings available to employees 24 hours a day, seven days a week, on any day during a year, through a mobile app. The money can be deposited into any bank account or transferred to any card.
PNC relies on a company’s existing payroll and time management systems to convert employee-time-worked into earnings. That technology is being provided under a relationship with New York-based DailyPay Inc.
PNC operates branch offices in Pottstown, Royersford, Collegeville, Phoenixville, Audubon, and King of Prussia.