DailyPay gives each worker a unique DailyPay bank account number (“DPA”). When the worker opts in to DailyPay, they (or the Partner on their behalf) enters the DPA as the Direct Deposit of record in the payroll system. The Partner runs payroll as usual and deposits the worker’s full earnings into the DPA. DailyPay deducts any early transfers from the worker’s pay. Any remaining balance is then passed to the worker on payday. For simplicity and transparency, all DPA funds, less any amount the worker has transferred early, are deposited in the worker’s personal bank account or payment card, free of charge, on the regularly scheduled payday.
DPA accounts are held at Wells Fargo, DailyPay’s partner bank. When the payroll system is updated for a worker to reflect their DPA balance, the administrative process is identical to updating a worker’s account in the payroll system to reflect a routine payment target change, e.g. switching from Bank of America to Wells Fargo Bank.