The Wagestream Alternative: Who are Level?
When looking into Earned Wage Access (EWA) providers, two names which often come up are Wagestream (now known as Stream) and Level.
Level is a leading Wagestream alternative in the UK. Like Stream, Level was a founding member of the Earned Wage Access Code of Practice, helping to set the industry standard for responsible On-Demand Pay.
So, who are Level, and how do they compare?
Shared foundations: Automation and Compliance
Both Level and Stream operate with a high degree of technical sophistication. For employers, the day-to-day management of Earned Wage Access needs to be seamless to avoid adding to the workload of payroll teams.
Both platforms offer fully automated processes. They use API integrations to receive real-time updates on hours worked from Time & Attendance systems. This ensures that employees can only access wages they have already earned, mitigating risk for both the employer and the employee.
Furthermore, both providers utilise "splitting accounts" on payday. This technical mechanism allows them to automatically reconcile any withdrawals made during the pay cycle. By intercepting the net pay, deducting the early withdrawals, and passing the remainder to the employee, the process remains invisible to the payroll team after initial setup.
A focus on debt-free financial wellbeing
Where Level distinguishes itself is in its product philosophy. While some Earned Wage Access platforms have expanded into offering loans, credit products, or complex financial services, Level has maintained a strict focus on debt-free financial wellbeing.
The Level app is designed to support employees without encouraging borrowing. It centres around four core tools:
Earned Wage Access: Giving staff flexible access to pay they have already earned, helping with short-term, immediate need for flexible cash flow.
Payroll Savings: Enabling employees to build a safety net directly from their salary before it hits their bank account. Helps employees begin to think about the medium term.
Budgeting tools: Simple, effective ways to track spending and manage bills. This helps employees think about longer-term habits and plans.
Ask AI: An AI-powered assistant to help answer financial questions and provide guidance.
By not offering credit products, Level ensures that its incentives are fully aligned with the financial health of the user. The goal isn't to cross-sell financial products, but to provide a toolkit that empowers staff to manage their money.
Making the right choice for your business
Choosing between Stream and Level often comes down to what you want your financial wellbeing strategy to look like.
If you are looking for a provider that helped write the rulebook on compliance and offers a streamlined, debt-free user experience, Level is a powerful contender. Their commitment to responsible Earned Wage Access makes them a safe pair of hands for any organisation looking to modernise their pay cycle.