Overview

• Wagestream’s new workplace loans are reported to run up to £25,000 with a 29.9% APR.
• The app’s salary advance feature charges £1.75 per withdrawal and can release up to half of a worker’s accrued pay.
• A PizzaExpress employee described a cycle of early withdrawals and loan repayments that could leave them feeling like a “wage slave.”
• Wagestream and partner employers say participation is voluntary, with affordability and creditworthiness checks using payroll and open‑banking data under FCA consumer‑credit rules.
• StepChange, debt adviser Sara Williams and the GMB union warn of risks resembling payday credit, while the Joseph Rowntree Foundation points to a continued need for responsible lenders during hardship.