South London and Maudsley NHS Foundation Trust is giving its 5,500 employees early access to their pay due to the financial constraints of the Covid-19 (Coronavirus) pandemic.
Employees will be able to receive 50% of their pay on the day that they earn it through payment platform Hastee, as part the organisation’s financial wellbeing strategy.
Employees can receive their first withdrawal every month up to the value of £100 without paying fees. Further withdrawals are subject to a fee of 2.5%. However, until the end of September 2020, Hastee are waiving all fees to support NHS workers.
Mary Foulkes, director of HR and organisational development at South London and Maudsley NHS Foundation Trust, said: “We understand these are difficult and unprecedented times and many families are struggling to make ends meet financially. The ability to access your monthly pay early that Hastee offers has been a welcome relief for some of our staff.
“We hope the initiative will help reduce some financial stress at a time when many of our staff are facing increased pressures at work and home.”