The scheme would end the wait for a monthly wage and ease cashflow problems hitting millons during the Covid-19 pandemic. The Bank of England is interested in it and it’s backed by payroll providers covering 14.6 million employees. (Image: Getty Images/iStockphoto)It will also be considered by the powerful Commons Treasury Select Committee looking for ways to help cash-strapped workers. But payroll advance technology means more frequent payments would cost just £3 a month, most likely charged to the employee. Mr Woolas said: “Workers would rather have their money sooner, especially those struggling.

Source: Daily Mirror June 20, 2020 20:14 UTC