Updated: 3 days ago
As an employee, you work hard for your time off, but sometimes life happens, and you need extra cash. That's where Sorbet's PTO cash advance comes in. What is credit card cash advance, you ask? It provides instant access to your hard-earned PTO money without any hidden fees or strings attached. In this blog, we'll dive into what a Sorbet PTO cash advance is, how it works, and who is eligible to apply. So sit back, relax, and let's explore this innovative solution to employee financial flexibility!
Table of contents:
What is a Sorbet PTO cash advance?
If you're one of the many employees who have more paid time off (PTO) days than you can take, here's some good news: your unused PTO is actually worth a lot of money. Instead of letting that money go to waste or waiting until you leave your company to get the payout you deserve, we have a solution.
With Sorbet, you can get an advance on your unused PTO without having to compromise on your regular salary. This way, you can enjoy a little extra cash flow without dipping into your next paycheck or resorting to high-interest loans.
Advancing your unused PTO is an excellent way to access hard-earned money you’ve already worked for and get the compensation you deserve without having to wait until you leave your company.
How does it work?
Getting a Sorbet PTO credit card cash advance is quick and easy. Once you've determined how much of your unused PTO you'd like to advance, simply submit an application through Sorbet's website or mobile app. If approved, your cash advance will be loaded onto a virtual Sorbet Visa card that you can spend on anything. It's important to note: the amount you receive will depend on how much PTO you have accrued and how much your employer pays out for unused PTO. Read more here about what PTO is.
Once you've received your Sorbet Visa card, you can use it like any other prepaid card to make purchases online or in-store, pay bills, or even fund your next vacation!
Who is eligible?
To be eligible for a Sorbet PTO cash advance, you must be of legal age (18+), a legal resident of the US city where Sorbet is offered (Colorado, Florida, Illinois, Massachusetts, New York, New Jersey, Texas or Virginia) with a W2-paying job and a salary of over $30,000. You also need to have a sufficient number of PTO days accrued within a company policy that grants PTO carry-over and payout.
In addition to the basic eligibility requirements, there are a few other factors that Sorbet takes into account when considering your application. For example, you must have a job that is classified as W2, which means you are an employee rather than an independent contractor. You also need to have a certain number of PTO days accrued within your company's policy, which must include both a carry-over provision and a payout for unused PTO upon termination.
While our eligibility requirements are fairly straightforward, they are designed to ensure that advances are only offered to those who can realistically pay them back from their PTO payout they’ll receive upon leaving their company.
If you are unsure whether you meet the eligibility criteria for a Sorbet PTO cash advance, you can check out our website for more information or contact our customer support team. We are always happy to answer any questions you may have about the application process or eligibility requirements.
What information is required to apply?
To apply for a Sorbet PTO cash advance, you'll need to provide basic information, such as your name, address, and employment details.
In addition, you’ll be asked more specific details about your employment and PTO policy. You'll need to provide the name of your employer, the number of days of PTO you have accrued, and the maximum number of PTO days allowed by your company's policy. We’ll also ask you about your expected pay periods, your expected PTO payout at termination, and your expected salary. Providing accurate and complete information is crucial to ensure a smooth and speedy application process.
Sorbet also utilizes advanced technology to verify your employment and PTO accruals. This means you don't have to worry about submitting paperwork or calling your HR department to confirm your PTO balance. Instead, Sorbet will use its proprietary algorithm to automatically verify your eligibility and calculate the amount of cash advance you're eligible to receive. All you have to do is upload your two most recent pay stubs and Sorbet will take care of the rest!
It's important to note: Sorbet only considers PTO days that are allowed to be carried over and includes a PTO payout at termination. If your company policy doesn't allow for carryover or doesn't include a PTO payout at termination, you may not be eligible for a Sorbet PTO cash advance.
How long does it take to get approved?
The approval process for a Sorbet PTO cash advance is designed to be quick and easy. We understand that you need access to your hard-earned PTO money as soon as possible. That's why we strive to provide a fast turnaround time for approving applications.
Once you submit your application, Sorbet will review it to determine your eligibility. Each application is carefully reviewed by our team and the process can take up to 5 business days.
We’ll send you email updates each step of the way to keep you in the loop about your application status. You'll receive an email confirmation once your application has been received, and then another email to notify you whether or not you have been approved.
However, it's important to keep in mind that not all applications are approved. Sorbet takes several factors into account when reviewing applications, to make sure you’ll be able to pay us back stress-free at the end of the advance term. If you are not approved, don't worry - you can always apply again in the future if you meet the eligibility requirements.
Advancing your PTO with Sorbet
In conclusion, Sorbet’s PTO cash advance offers many benefits to employees who are looking for a fast and flexible PTO solution to access their hard-earned PTO money. By advancing the payout of your PTO as you accrue it, you can easily unlock more compensation without affecting your salary. With no hidden fees or credit check, Sorbet PTO cash advance is a convenient and transparent option for those who need access to funds quickly.
In addition, the application process is simple, and Sorbet promises to keep all your information safe and secure. If you meet the eligibility requirements, we encourage you to apply!
Overall, Sorbet’s PTO cash advance provides a flexible, transparent, and convenient way for employees to access their hard-earned PTO money and enjoy the relief of financial employee benefits that reduce burnout. So why wait? Apply today and experience the benefits for yourself!
Are you in charge of HR benefits at your company?
Contact us at firstname.lastname@example.org to find out how you can offer Sorbet as a sweet financial benefit to your employees!