How It Works - Payhist

Connect Your Bank

Link your bank account securely using bank-level encryption. We partner with Plaid to ensure your information is always protected. This takes less than 60 seconds.

Verify Your Income

Connect your payroll system or gig platform (optional but increases your eligible amount). We verify your earnings to determine how much you can access — up to $200.

Draw What You've Earned

Request an advance up to your eligible amount. Choose instant delivery ($3.95) or free 3-day transfer. Make unlimited draws until you reach your limit.

Auto-Repay on Payday

On your next payday, we automatically debit your bank account for the full balance. Simple, transparent, and stress-free. Then you can draw again!

Your Eligible Amount

Your eligible amount is the maximum you can access at any given time. It's determined by:

Your verified income: Higher, more stable income = higher eligible amount
Your repayment history: Successful repayments unlock higher limits
How much you've earned: You can only access wages you've already earned
Your connected accounts: Payroll integration increases your eligible amount

Eligible amounts range from $25 to $200. Most users start around $50-100 and increase over time as they build a positive repayment history with Payhist.

Transfer Options

Standard Transfer

FREE

3 business days via ACH

Perfect if you're planning ahead and don't need money right away. Completely free with no fees.

Instant Transfer

$3.95

~30 seconds

Money arrives in your account in about 30 seconds. Great for emergencies when you need cash now.

Repayment Made Easy

Automatic Repayment on Payday

When your paycheck arrives, Payhist automatically debits your bank account for the full outstanding balance. You authorized this when you signed up, so there's nothing you need to do.

Example:

Monday: You draw $100 from Payhist
Wednesday: You draw another $50 (total: $150)
Friday (Payday): Your paycheck deposits, Payhist automatically collects $150
Friday afternoon: Your balance is $0, you can draw again!

What if I can't repay?

Payhist is non-recourse. We won't:

Send your account to debt collectors
Report to credit bureaus
Charge late fees or interest
Take legal action against you

However, you won't be able to draw new advances until you repay your balance. We're here to help, not hurt your financial situation.

Security & Privacy

How we protect your information:

256-bit encryption: The same level of security used by major banks
Secure data storage: Your information is encrypted at rest and in transit
No credential storage: We never store your bank login credentials
Multi-factor authentication: Extra layer of account protection
Regular security audits: Third-party testing and monitoring
SOC 2 compliant partners: We only work with certified secure providers

Read our complete Privacy Policy and Security practices.

Frequently Asked Questions

How is this different from a payday loan? +

Payday loans are high-interest loans (often 400%+ APR) that trap people in debt cycles. Payhist provides access to wages you've already earned, charges 0% APR, and is completely non-recourse. You're not borrowing money — you're accessing your own earned wages early.

Will this affect my credit score? +

No. We don't pull your credit report, don't report to credit bureaus, and don't make credit decisions. Payhist has zero impact on your credit score — positive or negative.

How do you determine my eligible amount? +

We look at your verified income sources, earnings to date, repayment history with Payhist, and whether you've connected payroll/gig APIs. Most users start around $50-100 and can increase to $200 as they build history with us.

Can I draw multiple times before payday? +

Yes! You can make unlimited draws up to your eligible amount. For example, if your limit is $100, you could draw $30, then $20, then $50 — as long as your total doesn't exceed $100. Once you repay on payday, your limit resets.

What if my paycheck is late? +

If your employer pays late, just contact us and we'll adjust your repayment date. We understand that sometimes paychecks are delayed — we're flexible and here to help.

How Payhist Works