Frequently Asked Questions
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FAQs for Employers
How is Bohikor different from payday loans
Is this equivalent to offering company loans to my employees that is secured against their wages?
How do I join Bohikor (as an employer)?
Get in touch with one of our teams to arrange a demo! The onboarding process is very quick and simple with no changes to your existing payroll process.
Will using Bohikor have any tax/accounting implication?
Do I need to pay for my employees to use Bohikor?
How easy is it to integrate Bohikor into my payroll?
What are the risks associated with offering Bohikor to my employees
FAQs for Employees
How do I join Bohikor (as an employee)?
Will using Bohikor have any tax implication?
No. Bohikor provides you with access to your net pay after all taxes and deductions. Since Bohikor deals with after-tax wages, there should be no tax implications from using Bohikor.
Will using Bohikor have any impact on my current income?
No, Bohikor will not impact your income or salary. Bohikor simply provides you access to your earned wages or income on an on-demand basis.
How do I get started with Bohikor?
Why can’t I find my employer on the Bohikor app?
If your employer has partnered with Bohikor and you’re struggling to find them, please reach out to us at email@example.com
Is Bohikor safe to use?
Yes, Bohikor uses advanced encryption technology to ensure our users data is protected as it is our top priority.
How much money can I withdraw from Bohikor?
You can withdraw up to 50% of your earned wages (sometimes higher subject to your employer’s discretion).
Why are there limitations on how much I can withdraw?
The limitations are set by your employer to encourage and ensure responsible spending. Bohikor also provides a variety of resources and tools to build and elevate our users’ financial behaviours around saving and money management to ensure that our users truly break free from the payday trap.
Will Bohikor encourage me to spend more and save less?
How fast can I get my money using Bohikor?
How much does it cost to use Bohikor?
The cost varies depending on whether your employer subsidizes the Bohikor service.
Does the access fee increase with the amount of money I withdraw?
The Bohikor access or platform fee does not scale with the amount of withdrawal (akin to a fixed ATM fee)
Do I need to do any repayments?
No, your employer will automatically deduct the amount you have withdrawn during the pay period from your final pay.
Will my Bohikor withdrawals appear on my bank statement?
Will my Bohikor withdrawals affect my credit rating?
No, Bohikor is not a loan and hence will not affect your credit rating. We do not even do credit checks.
Will my Bohikor withdrawals appear on my pay slip?
Yes, they will appear as a normal deduction with a unique code determined by your employer.
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