To help with difficulties related to COVID-19 (Coronavirus), all Walmart associates can now use Instapay once a week to get access to wages before payday. Walmart is also paying for all Even Plus fees. To use Instapay, go to the Earn tab in the Even app. If you don’t have Even yet, download it here.
The cost of a loan from a payday lender is typically $15 for every $100 borrowed, according to the Consumer Financial Protection Bureau. For a two-week loan, that’s effectively a 391% APR. If the loan isn’t repaid in full on the first payday, a fee is added and the cycle repeats.