Legacy

Clair does not run a credit check in order to offer wage advances, so there is no impact on your credit. We also do not currently report to any credit reporting agencies. Your credit is not currently affected positively or negatively by taking advances with Clair's On-Demand Pay. Banking Services provided by Pathward, N.A., Member FDIC. Advances Provided by Pathward, N.A.

MetaBank, N.A., Member FDIC (“MetaBank, N.A.”) was the previous name of Clair’s partner bank. In March of 2022, MetaBank, N.A., announced that it was changing its name to Pathward, N.A. Your Clair Spending and Savings Accounts are established by Pathward, N.A. Additionally, all banking services initiated in your Clair Spending and Savings Accounts are provided by Pathward, N.A. Pathward, N.A., a federally chartered bank whose funds are FDIC insured, subject to applicable limitations and restrictions when Pathward receives the funds deposited to your account. We partner with Pathward, N.A., in order to help hourly workers across the country gain financial freedom by providing friendly financial services. In our banking partner’s own words: “Pathward signals our commitment to removing barriers that prevent millions of Americans from achieving access to the financial system. Our new name serves as a constant reminder of the importance of creating a path forward for the unbanked, underbanked, and underserved to help them achieve economic mobility.” Banking Services provided by Pathward, N.A. Member FDIC. Advances provided by Pathward, N.A. 

When you use your Clair Debit Mastercard, Mastercard processes the transaction and  collects a percentage of the sale from the merchant. Mastercard then shares a portion  of this fee to the issuer of the debit card, Pathward, N.A. and Pathward, N.A. shares a  portion of that fee with Clair.  It truly is a win-win situation. Clair makes money every time you use your Clair Debit  Mastercard. This allows Clair’s services to remain free* for our users. 

  At Clair, we’ve created a banking app that doesn’t rely on fees, helps you get paid before payday, and helps you grow your savings easily.  Specifically, Clair is a digital banking platform that allows you to get access to a portion of the money you already worked for, before payday. The best part is that Clair does all this for free*.  How do we do this?  Clair has been able to bypass the pay delay of outdated, traditional payroll systems by having you:  Open a Clair Spending and Savings Account which are deposit accounts established by Pathward, N.A., Member FDIC. When you open an account, you get a Clair Debit Mastercard®, a Spending Account, and a Savings Account that helps you grow your savings easily  Send a portion of your paycheck to your Clair Spending Account each payday via a direct deposit. When you update your direct deposit to your Clair Spending Account, you are eligible to start taking wage advances after your worked shifts. In turn, on payday Clair will deduct the amount advanced— and not a penny more— from your Clair Spending Account to repay your advances taken that pay cycle.  After your shift, you receive a notification to let you know that you have available for advances and the total accumulated amount can be found in your Clair App. There is a cap on how much money can be advanced in between paychecks, but the moment your advances are repaid, you are able to continue wage-advancing after a new shift is worked.  The Clair App is available on both Android and iOS.  Why do we do it?  Our mission is to make everyone financially free.  Our core beliefs:  Given the right tools, everyone can build a bright and independent financial future Finances don’t need to be complicated nor scary  Employees who are financially free, are productive employees  Great employers offer benefits that improve their employees' lives Transparency is the key to a FinTech’s success  Fair financial services can be offered to everyone and be profitable  So, what’s the catch?  There’s no catch. When you win, Clair wins too.  When you buy things with your Clair Debit Mastercard, Mastercard pays Clair a percentage of what they earn. This way, we don’t ever have to charge you or your employer for using Clair’s services.  Clair is a financial technology company, not a bank. Banking services provided by Pathward, N.A., Member FDIC. Advances provided by Pathward, N.A. While wage advances are free, certain other fees may apply depending on how users use their account. Standard data charges may apply when using the Clair app