Yes. If an employee is unable to open a KOHO account (e.g., if they are under 18 or if they do not yet have a Canadian identification), they can opt into Scheduled payouts. With Scheduled payouts, their payouts are sent directly to a bank account that they set up within their AnyDay app. Employees should ensure their app is updated to the latest version on the move date to access this option.
Scheduled payouts accumulate visibly in their app and are sent to their chosen bank account on the 1st and 15th of each month. For staff who opt in to Scheduled payouts, a $1.50 per staff per month fee will be paid by you, the employer, from your wallet account at a cost of 2x real-time EFTs at the end of each month.
If an employee decides to switch to instant payouts with KOHO later, they can do so anytime through the AnyDay app in their settings.