Cycle Product FAQs

What partners can use this feature on DailyPay?
Any partner who has signed the Off-Cycle Disbursements Contract Addendum

2. How much does each payment cost?

Cycle payments to a DailyPay User’s DPA are free.

For Cycle payments made to accounts other than the DPA, a fee will be incurred per payment. The fee paid will depend upon the chosen method of repayment.

• $5/payment if paid back via auto-debit
• $10/payment if paid via back invoicing

Please refer to your Addendum for partnership-specific fee schedules.

3. How soon will the employee receive the payment?
See article on Cycle payment timing. 

4. What is secondary approval?

Secondary approval is an optional setting that requires a colleague with access to the DailyPay Partner Portal to approve (or reject) a payment before it is processed. The submitter cannot be the secondary approval. Read more about the 3 settings here. 

5. Are there any limits to how much money can be sent?
At this time the limit is $2,000 per payment when secondary approval is set to "off for all payments." When the secondary approval feature is enabled as either "on for all payments" or "on for select payments," the limit is $50,000 per transaction.

6. What happens when a Cycle payment fails?

If a Cycle payment sent directly to an employee's bank account fails, the submitter will be notified via email that the transaction has failed. An entirely new payment will need to be issued to revised banking details. You will not be billed for the original transaction.

If a Cycle payment to a DailyPay account fails when DailyPay is subsequently sending to the employee, the employee will need to update their banking information. Once banking information is updated, DailyPay will remit the funds to the new information. 

7. What are the options for repayment?
Either (i) a weekly invoice or (ii) a weekly auto-debit

8. How soon does the company need to repay DailyPay?
(i) Within 7 Business Days after invoice received, or (ii) the following Thursday, in the case of auto-debit

9. Can I make payments in bulk to more than one user at a time?
Yes, if you do not have Cycle Batch enabled on your account. Reach out to your DailyPay Account Rep to learn more.