Clair Bank is a digital banking platform allowing its users to access a portion of their earnings in advance. Started with the aim of providing financial freedom for all Americans, Clair currently helps employees at 7,000 businesses in all 50 states get flexible access to their wages.
What is Clair?
A digital banking platform on a mission to provide Americans with financial freedom, Clair’s banking app gives customers access to their earnings in advance. Instead of waiting for outdated and inflexible payroll systems to meet their needs, Clair offers customers the option of instantly accessing part of their next paycheck.
How Does Clair Work?
When customers open a Clair banking account, they get access to a Clair Debit Mastercard, a spending account, and a savings account. The customer can then sign up through their employer to send part or all of their paycheck directly to Clair.
Clair then advances a flexible paycheck amount into the user’s spending or savings account. The amount advanced is automatically deducted from the customer’s paycheck on payday.
What Services Does Clair Offer?
The primary service offered by Clair is its flexible payroll advance option. However, it also provides a physical and digital debit card and access to a current and high-yield savings account.
Other benefits include cashback on groceries and gas purchases and access to financial education and planning resources to help people achieve financial independence.
For Employees
Clair’s stated aim is to increase its customer’s financial freedom, and it does this through its Clair’ get paid early’ system. As an employee, you can access a portion of your paycheck anytime, giving you greater control over your finances and flexible access to your earnings when needed.
To use the Clair early pay system, you must instruct your employer to pay some or all of your paycheck directly to Clair, who then deducts the forwarded amount directly from the amount you receive on payday.
Clair also offers access to financial planning experts through Uprise, who can provide money advice and help customers create personalized plans to achieve their financial goals.
For Employers
In addition to the benefits enjoyed by its customers, Clair also offers a range of benefits for employers. For example, the disbursement and collection of payroll advances are done at no extra cost and with no risk or liability to the employer.
Clair also promotes the benefits of a financially healthy workforce. Its research shows that employees less stressed about their finances are 86% more productive, 56% less likely to look for another position, and 70% more likely to work additional shifts.
For HR
Clair offers HR tech companies an alternative unique selling point (USP), allowing them to provide payment-on-demand (PEO) options without additional liability, full compliance in 50 states, and no client contractual obligations.
By marketing PEO’s increased employee recruitment, productivity, and retention benefits, HR tech businesses can generate new leads, expand their verticals, and increase brand loyalty.
What Other Features Does Clair Have?
In addition to its payment-on-demand feature, Clair offers a Savings Account, 3% cash back on gas, groceries, and phone and cable bills for up to 90 days, and free financial advice from the experts at Uprise.
Clair Debit Mastercard
The Clair Debit Mastercard is fully compatible with mobile wallets, giving you enhanced physical and digital payment flexibility. Customers can also withdraw cash at 40,000 ATMs without paying any withdrawal fees.
Clair also operates a full transparency policy regarding its fees and doesn’t charge monthly service fees or overdraft fees. They also don’t have any minimum balance requirements.
Flexible Pay
The Clair early pay system offers its customers unparalleled financial freedom by allowing them access to their earnings when needed. No more desperately trying to hold out until payday or begging your employer for a paycheck advance.
Setting up Clair’s fee-free flexible payment system is remarkably easy. Once you’ve opened an account, you instruct your employer to pay some or all of your pay packet directly to Clair.
Clair then forwards you a certain percentage of your paycheck in advance and recoups the money directly from your salary on payday without charging any fees.
Easy Banking App
Clair’s intuitive and streamlined banking app makes it easy to keep track of your finances. You have complete visibility over your spending and savings accounts and fee-free wage advances. You can also set savings reminders to help you plan your savings.
The app is fully compatible with Apple Pay and Google Pay and even comes with a handy ATM finder to help you locate one of the 40,000 ATMs at which you can withdraw your cash for free.
What are the Advantages of Getting Clair?
There’s a wide range of advantages to getting a Clair bank account.
Clair gives employees fee-free access to the money they’ve earned when they need it most. This enhances your financial freedom and removes the stress of managing your money. You also get access to free expert financial advice.
For employers, Clair offers the recruitment, productivity, and retention benefits of offering payment in advance without any of the headaches of liability or risk.
Clair offers HR tech providers the ability to market payment-on-demand benefits without worrying about compliance, liability, additional contractual obligations for their customers, or an increased administrative burden.
How Does Clair Stack Up?
With its full transparency policy, simple and easy functionality, and no-fee service model, Clair stacks up very well. Suppose you’re an employee looking to increase your financial freedom or an employer who wants to reap the benefits of a less financially stressed workforce while offering a tangible benefit to new talent. In that case, Clair is an excellent option.
Should You Get Clair?
If you like the idea of a simple-to-use banking platform that gives you free access to your earnings when you need them and a range of other benefits, consider using Clair.
How to Get Started with Clair
Getting started with Clair is very easy. You open an account, contact your Clair Debit Mastercard and get access to your spending and savings accounts.
From there, all you need to do is instruct your employer to deposit your earnings directly to Clair and arrange the amount of those earnings that you would like forwarded to you in advance.
