Product Updates

Introducing Express PayCheck

August 24, 2022
Jimmy Jacobson
Director of Engineering, Co-founder

Why do so many renters need to wait days until their paycheck clears?

At Stake, we don’t think they should.

That’s why we’re thrilled to announce the latest and greatest in our banking services innovations for renters: Express PayCheck.

How Express PayCheck Works

  1. Stakers connect their postdated ACH payroll deposit to their Stake account.
  2. Stakers see their money in their FDIC-insured Stake account up to two days faster.
  3. Stakers instantly access their paycheck — to spend it, invest it, and pay their rent with it.

Why Renters Need Express PayCheck

At Stake, we’re on a mission to empower wealthier, happier renters. That means providing renters with fair, free, and equitable banking services that makes a real difference to them in real time.

From Cash Back on their largest monthly expense — rent — to a no-fee, debt-free Stake Visa® Debit card to Express PayCheck, we are embedding finance in every step of the rental journey to make it easy for renters to grow their savings and create lives they love.

Why Express PayCheck is a Win-Win For All

If rent is due on the first of the month and a renter’s paycheck also arrives on the first of the month (but doesn’t clear for two days), what’s a renter to do?

With Stake’s Express PayCheck, renters will no longer be late on rent because of outdated systems. Now, they can access their paychecks faster, pay their rent — or for whatever they want — instantly.

At Stake, we’re committed to developing debt-free tools that make it easier than ever for renters to pay their rent on time, spend on the stuff they want today, and save for the life they want tomorrow.

Express PayCheck is just one more example of how everyone benefits when we remove barriers to capital. More to come!

Stake is a financial technology company and is not a bank. Banking services provided by Blue Ridge Bank N.A; Member FDIC. The Stake Visa® Debit Card is issued by Blue Ridge Bank N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

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