Have you ever wished that your paycheck would hit your account sooner? Whether you need some extra cash for an unexpected payment or want to book a well deserved holiday, we believe that your payday should work for you.
With Deel Advance feature, you can access your entire earnings up to 30 days before your payday.
Here is how Deel Advance works:
- Get paid in advance, up to 30 days before your payday
- Access your funds instantly, without long approval process
- Advances of up to $50 come at no cost
- For advances higher than $50, Deel takes a small one-time fee of 2% (if the payday is in less than 20 days) or 3% fee (if the payday is in more than 20 days)
- Your advance will be automatically repaid from your next payment
Who is eligible for Deel Advance?
If you’re paid via a fixed or paid as you go contract on Deel, you are eligible to access your paycheck up to 30 days early if you meet the following requirements:
- You have been on a fixed contract for at least 2 months
- Your Deel account is verified
- Your paycheck is paid on a weekly or monthly basis
How to request Deel Advance
- Go to your Deel dashboard and choose Deel Advance from the navigation menu
- Pick the advance amount
- Click on Get Deel Advance
- Review the information, agree to Terms of Service and submit the request
- The advance will show up on your Deel balance. If you have automatic withdrawal enabled, the advance will be sent to your preferred withdrawal method.
Deel Advance FAQ:
What is an advance?
Advance is an agreement where a business or an individual receives a lump-sum payment up front, in exchange for an agreed upon amount of future earnings.
How much does it cost?
Deel charges a one-time fixed fee of 2% of the Advance Amount where the next scheduled payment is less then 20 days away, and 3% of the Advance Amount where the next scheduled payment is 20-30 days away.
Is Deel Advance a type of loan?
Deel Advances are not loans. Rather, they are an advance. Instead of borrowing money, you’re selling a portion of your future earnings, which is collected automatically from your scheduled client payments. There are no interest rates, only a one-time fixed fee.
How does Deel Advance feature work?
Deel gives you an advance on your next paycheck. When your client pays you on next regular payday, Deel automatically collects the Advance from your balance.
Can anyone apply for a Deel Advance?
Only eligible contractors are able to get the Deel Advance. Our eligibility requirements are available in Deel app, as well as listed above.
How long does it take to get my funds from a Deel Advance?
Once approved, funds are instantly available in your Deel balance.
Are there additional fees or interest payments?
No, the only fee is a one-time fixed fee, detailed above.
Is there a limit on the amount per Advance?
Yes, the Advance amount and fee can be up to the value of your next scheduled payment. Your maximum limit will be viewable in the request screen. The maximum Advance amount under any circumstance is $20,000.
Will my client be notified if I use Deel Advance?
No. A Deel Advance is a contract between you (the contractor) and Deel. Clients will only be contacted if their scheduled payment is not paid on time or in full. In that case, Deel will reach out to the client to understand why their payment was not made.
Will you undertake a credit check that will impact my credit score?
No. Deel will not undertake a credit check.
If you have any questions or need support, reach out to our customer support team via the website chat.