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Orka Pay is meant to be a tool for you to stay in control of your finances. As an Earned Wage Access provider, facilitating that you can access wages before payday comes with responsibility. We want to make sure employees are using Orka Pay responsibly and know the do’s and don’ts of using the app.

Here are a few examples of irresponsible use:

Covering large, non-essential purchases

Across the Orka Pay app, we almost never see irresponsible use. We still want to make it clear that the app is not designed to support non-essential purchases that are out of budget.

And this sounds so simple, right?

It might not be. Reports show 24 million adults in the UK don’t feel confident managing money. Furthermore, an estimated 50% of adults in the UK don’t have budgets. So, if you feel like you don’t have enough knowledge around your finances, you’re not alone.

Before you use Orka Pay to cover any significant expenses, orientate yourself on what exactly your budget can handle.

There are several free resources you can use, like this one.

To enable gambling or betting

When gambling debt occurs, it can be extremely harmful to individuals and others around them.

Under no circumstances should Orka Pay be used to facilitate betting or gambling of any kind. If you find yourself losing track of money when gambling and it’s affecting you negatively, reach out for help on how to manage this.

For more resources on gambling and money issues, check this article.

Repeated and frequent use

If you’re regularly relying on withdrawing several or large amounts of money every month, this may be a sign that your outgoings are too high.

During the cost-of-living crisis, making cutbacks can be really difficult. Getting the correct type of advice is vital. We suggest going with a free and trusted source, like Citizens Advice or Unbiased.

Withdrawing large amounts without budgeting

Withdrawals on Orka Pay will come out of your next paycheck.

A crucial part of using Orka Pay responsibly is making sure you budget and account for significant withdrawals the best you can. If you can, picking up more shifts to cover the expense will help you stay in control of your finances.

Orka Pay is meant to be used as a financial safety net in emergencies. Still, thinking ahead and mitigating the impact of taking a higher percentage out of your paycheck early will help you stay in control of your finances long-term.

To pay off other loans or unmanageable debts

We built Orka Pay to be a better alternative to expensive credit (for example, credit cards, overdrafts, payday loans and even buy-now-pay-later schemes.)

If you have been using these types of credit and find it increasingly difficult to pay off the debt, it’s essential to find the best way to minimise and resolve the debt without it chipping away at your monthly salary.

Trying free and reliable online resources, such as Money Helper can help you determine a plan and the best options to manage your debt.

Seeing a financial advisor often comes with a free consultation, like with Unbiased. They can help you find a specialist that can guide you to your best options and management plans.

Researching options on your own is often a significant first step. The Government have a collection of resources and options available for debt management.

More advice on dangerous debt

If you experience any of the following:

  • Suspect you are in danger due to debt.
  • Receive threats from your lender.
  • If you’re charged very high and varying interest rates.

These are all worrying signs of illegitimate money lending. This is more commonly referred to as a loan shark.

Illegal activity like this is more common than you would think. A new report by The Centre for Social Justice shows almost 1.8 million people in the UK could owe money to an illegitimate lender.

You can check the legitimacy of the lender and anonymously report a loan shark through this Government resoure.

You can also call the free hotlines below:

  • GOK.UK Illegal Money Lending Hotline: 0300 555 2222
  • Scottish National Trading Standards: 0800 074 0878
  • Wales Illegal Money Lending Unit: 0300 123 33 11
  • Northern Ireland Trading Standards Consumerline: 0300 123 6262

Advisors can report a loan shark to the authorities and give you advice on how to deal with the situation.

Further help

Hopefully, this article gives you a better idea of behaviours to avoid when using Orka Pay and how to reach out for help if you are experiencing money issues.

As mentioned previously, we almost never see irresponsible use on the Orka Pay app, but we still want to do everything we can to keep people empowered whilst using the app.

If you have any issues or questions with Orka Pay, you can always reach out to our community team using the chat function in the app.