FAQ's

What is an umbrella company?

An umbrella company such as Wagecorp is a company that employs agency contractors who work on temporary contract assignments, usually through a recruitment agency in the United Kingdom or Ireland..

This means that the agency will pay Wagecorp and Wagecorp, deducts the necessary tax and national insurance contributions and pays you your salary.


 

Does it matter if I work for more than one agency?

It does not matter how many agencies you are registered with – Wagecorp, our umbrella solution allows you to work across a range of different agencies in an organised and hassle free manner

 

Do you charge any registration or exit fees?

No we do not charge either of these fees – you only pay when you use the service. It is easy to setup and leave at any point granting you great flexibility. 

 

Why do recruitment agencies use Wagecorp?

Wagecorp helps agencies to minimise their overheads, employment risk and administrative burden of the management of temporary employees. We allow agencies more time to focus on their core function which is to source and place talent in relevant roles. 

 

Do I need to provide you with a P45?

 

Yes. Once you have left your previous employment then they should issue you with a P45, you must then forward that onto us. This will stop you from being taxed on an emergency code.

If you are new in the UK and this is your first time working, you do not need to provide a P45.

 

My contact details have changed. How can I update them?

Call our multilingual customer service team to find out more about updating your account details or email us to info@wagecorp.com and one of our Relationship Managers will call you back.

 

WHAT ARE THE BENEFITS OF JOINING WAGECORP AS YOUR UMBRELLA COMPANY?

There are many benefits to using Wagecorp rather than setting up your own limited company.

  • Your legal status is "employed"

  • As an employee you have full entitlement to state benefits like Statutory Sick Pay, Statutory Maternity Pay and a State Pension.

  • Wagecorp acts as your employer and so can provide a continuous record of employment which can assist with loan and mortgage applications.

  • Accurate Taxation

  • Wagecorp processes your payments on a PAYE basis. Your tax and NI contributions are automatically calculated and deducted for you.

  • Wagecorpo manages all the administration

  • As the director of a limited company, you would have to handle all of your own administration regarding pay and ensure that you are compliant with all the associated rules and regulations. You would have to file your own tax returns and ensure your tax contributions are paid on time. Joining Wagecorp saves you the trouble as you become a PAYE employee.

 

What is a contractor?

Contractors are professionals who operate as an employee of an umbrella company, rather than being a permanent employee of a business.

Agency Workers

Any person undertaking contract work from a recruitment agency could make use of Wagecorp to deal with their payroll administration.

Wagecorp serves the function of processing PAYE payroll for their employees. Wagecorp also allow a contractor to have the legal status of an employee. 

 

Do I need my own insurance?

The short answer is no! All Wagecorp employees are automatically covered by our essential business insurances.

 

Public Liability (£5 million)

Public Liability insurance covers against the risk of accidents or incidents which affect third parties, resulting in them making a claim.

Examples include damage to property, injury to third party persons and legal costs. Even very minor incidents can result in massive third party claims, enough to put you out of business several times over, so it is worth considering this type of policy carefully. Aside from that, most clients will insist on having Public Liability cover in place before you start work, in which case it isn’t really optional.

 

Professional Indemnity (£5 million)

Essentially Professional Indemnity (PI) insurance is to cover you against possible claims of negligence. If you make an error in the performance of your duties or otherwise cause your client financial losses, they may put in a claim against you.

PI covers any damages you have to pay out as a result of such a claim and also your legal costs. Aside from negligence, bear in mind that this type of insurance covers loss of data or documents, intellectual property breaches and cases of libel or defamation.

When you take on a job or project there will often be a contractual obligation for a certain level of Professional Indemnity cover.

 

Employers Liability (£10 million )

Employers Liability insurance provides cover for liability for any injury or illness as a result of your work with us. It is a legal requirement for any business that has employees. Often contracts use standard wording which make this type of insurance cover obligatory.

 

Good to go

We always provide copies of our insurances to agencies and clients before we start working with them, so everything will be already in place before your assignment starts.

 

How and when do I get paid?

Your agency or end client will normally set the invoicing frequency requesting that Wagecorp issues invoices relating to either weekly or monthly periods. It will then be your responsibility to submit weekly or monthly timesheets to us, at Wagecorp. Once you submit your timesheet, we will then arrange for the invoice to be checked and issued directly to your agency or end client. Here at Wagecorp, we ensure that all invoices are processed in an efficient manner.

Same day payments as standard for no additional fee.

We pay via FasterPayment as standard, so funds will normally clear into your account by 5pm that evening, with your payslip being issued at that point to confirm the net payment which will arrive in your bank account. 

FAQ's - Card & Account

How do I open an account with Wagecorp?


You need to be an Employee of Wagecorp Payroll Management Limited. In order to open an account or apply for a Wagecorp Centtrip Prepaid Mastercard®, contact one of our Relationship Managers. One of our Relationship Managers will then explain our criteria to you.

 

How soon can I get my Wagecorp Centtrip Prepaid Mastercard?

 

Card orders take 7 to 10 working days for you to receive in the post.

 

What do I do when I first get my card?

 

Full instructions are contained on the letter we send to you accompanying the card.

 

Texts must come from the mobile number you registered. We recommend that you delete the text once you know the PIN. Your PIN is accessible any time online and you can also change your PIN at most ATMs.

 

Can I open an account for my business?

 

Yes. We operate both a personal account and a business account programme. For more information on opening a business account contact us at info@wagecorp.com 

LOADING YOUR ACCOUNT

 

How do I load my account?

 

You can only load your account with your salary which is paid by Wagecorp Payroll Management Limited.

Who can load funds to my account?

 

Wagecorp Payroll Management Limited. 

How long does it take for a load to appear in my account?

 

Immediately. 

 

What is the minimum amount I can load to my account?

 

There is no minimum amount. 

What is the maximum amount I can load?

 

There is no limit to the amount you can load to your account. Loads to cards are limited to a maximum of £10,000 per day up to a maximum balance of £100,000 or currency equivalent. The daily limit for personal cards is £5,000 per day.

 

FOREIGN EXCHANGE

 

How do I buy currency?

 

Call us and we will arrange a currency purchase for you.

 

Can the rate change after I have clicked confirm to buy currency?

 

We give you currency at the same rate at which we buy it. As the currency rates are moving constantly we need to buy the currency first before we can confirm the exact rate achieved. The difference between the indicative rate shown and the actual rate achieved will usually be very small and can be higher or lower than the initial rate shown.

 

How long does it take for the currency I bought to arrive in my account?

 

When buying your currency please try to plan ahead to achieve the best rates and be aware that it can take until the next banking day for the physical funds to arrive. You will always receive an email notification when your funds are deposited and you can track pending transactions by selecting Pending Transactions on the home page.

 

​What does live-rate mean?

 

Banks, card companies and bureaux de change services charge from 2% to over 9% of the value of every foreign exchange purchase by adjusting their rate. This is known as a spread. We give you currency at the same rate at which we buy it known as live-rate. We provide real time currency rates taken from the global wholesale currency market.

 

Can I have different currencies on my card at the same time?

 

Yes. You can hold up to 15 different currency balances at any time. When you spend from the Wagecorp Centtrip Prepaid Mastercard your balance in that currency will automatically be debited from your card balance in that currency.

 

USING YOUR CARD

 

What are the fees for using a Wagecorp Centtrip Prepaid Mastercard?

 

All of our fees are transparent and can be viewed here.

 

What can I use my Wagecorp Centtrip prepaid Mastercard for?

 

You can use your Wagecorp Centtrip Prepaid Mastercard to make purchases online, over the phone and in-store at over 39.6 million locations worldwide, and withdrawals at over 2.1 million ATM locations worldwide where Mastercard is accepted. Mastercard ATM Locator.

 

Can I get a reminder of my PIN?

 

Getting your PIN is easy. Simply log in to your account at www.wagecorp.com hover over your name and select PIN Reveal.

 

Alternatively, you can send us a text message to +44(0)7860 024 357 that reads PIN {Last eight digits of your 16 digit card number}. This is the long number on the front of your card. The text must come from the mobile number you registered with.

 

For example, if your card number is 5302 6901 2345 6789. The message you should send to us should read:

 

PIN 23456789

 

Once we receive this message we will return an SMS to your phone with your PIN. Please keep your PIN safe and do not reveal it to anyone.

 

Can I use my Wagecorp Centtrip Prepaid Mastercard for security deposits?

 

Do not use your card for security deposits when you hire a car or check into a hotel. You should secure these with a credit card and only use your Wagecorp Centtrip Prepaid Mastercard card to settle the bill. When a card is used in this way a block is put on the funds for the authorised amount on that card. As your Wagecorp Centtrip Prepaid Mastercard has a prepaid balance the block will stop you from spending this amount.

 

Can I use my Wagecorp Centtrip Prepaid Mastercard at automated petrol stations?

 

Similar to hotels and car hire deposits most automated petrol stations take a security deposit, so you should avoid using your Wagecorp Centtrip Prepaid Mastercard.

 

Can I use my Wagecorp Centtrip Prepaid Mastercard at toll booths?

 

We require a merchant to seek authorisation before they deliver goods or services. In general toll roads and bridges in Europe do not seek this authorisation so you should avoid using your Wagecorp Centtrip Prepaid Mastercard at most toll booths. 

 

Using a Travelex / Moneycorp ATM

 

When you withdraw cash from most Bureau de Change ATMs, the provider will convert your money using their own exchange rate (even if you choose to be charged in the currency you are withdrawing) and charge your card in Pounds Sterling. This could lead to an automated conversion on your card. We would recommend waiting until you find an alternative ATM in order to withdraw in local currency.

 

What should I do if my card is lost or stolen?

 

If your card is lost or stolen please log in to your account, go to Settings and select Block / Unblock Card Here you can immediately block and unblock your card as necessary and no debits or withdrawals will be allowed. If you are certain the card is lost or stolen, call us on +44(0)20 7127 8130 and follow the instructions provided.

 

Is a Wagecorp Centtrip Prepaid Mastercard a normal debit card or credit card?

 

Wagecorp Centtrip Prepaid Mastercard's are not credit cards, charge cards or debit cards. Wagecorp Centtrip Prepaid Mastercard are reloadable cards, issued by an e-money financial institution. Each time the card is used, the value of the purchase is deducted from the funds available on the card. To spend money from your card you must first load funds to your account, you can then buy currency and move the purchased currency to your card. The card does not offer credit. In essence, you need to load funds on to your card before you can use those funds.

 

Will I earn Interest on my Account or Card balance?

 

You will not earn any interest on the balance of funds loaded onto your account or card or incur any interest on your spending.

 

ONLINE ACCOUNT

 

How do I log in if I have forgotten my password?

 

Go to the Login page and select Forgot your password Enter your security details. You will then be sent an email to verify and create a new password. If you have forgotten your security details, please call us or send an email to info@wagecorp.com 

 

What if I have forgotten my security details?

 

If you have forgotten your security details, please call us or send an email to info@wagecorp.com and our customer services team will assist you.

 

What if I do not recognise a transaction from my card?

 

If you have any enquiry relating to transactions on your card, please call us or send an email to info@wagecorp.com between 07:00 to 17:00 GMT from Monday to Friday. 

 

PAYMENTS

 

Who can I send payments to?

 

You can send payments in most currencies and to most countries. For more information relating to your specific requirements please call us or send an email to info@wagecorp.com between 07:00 to 17:00 GMT from Monday to Friday. 

 

Can I make a payment in the same currency?

 

Yes, you can make payments from your Wagecorp account in the same currency by selecting Payments and selecting YES when asked Do you want to send payment in the same currency.

 

How long do payments take?

 

It normally takes up to 1 working day for a payment to reach the recipients bank account. There are some differences depending on the country and country to where funds are being sent and exceptions can occur from time to time. All international payments involve routing through banks and the delivery time depends upon how efficient those banks are. For more information relating to your specific requirements please contact us on action@wagecorp.com or call us on +44 (0) 151 370 0545  between 07:00 to 17:00 GMT from Monday to Friday.

Are there any fees for making payments?

 

See a list of fees here.

 

MOBILE APP

 

What features are available in the App?

 

You can block and unblock your card at any time using the Safe Mode feature.

 

Some additional features available in the app include:

 

View transactions on a map and share details by email instantly, 

 

View and tag real time transactions to easily keep track of your expenditure.

 

We are adding new features all the time so we recommend you check regularly to ensure you have the most up to date version.

 

What devices are supported?

 

Apple supported devices:

 

Minimum iOS Version 9.0

 

Devices Supported

iPhone 4s, iPhone 5, iPhone 5c, iPhone 5s, iPhone 6, iPhone 6 Plus, onwards.

iPod touch (fifth generation)

 

Android Supported devices:

 

We support Android devices running OS 4.4.x

 

How do I report a problem?

 

If you are having any problems or have any suggestions for enhancements, please let us know by emailing action@wagecorp.com or give us a call.

 

SECURITY

 

How do I know my money is safe?

 

Client funds are held in segregated Tier 1 bank accounts within Barclays Client Trust Accounts. All funds remain segregated and ring fenced from our own funds at all times.

 

Is Wagecorp regulated?

 

Our Company Number is 11008852. Our Service Provider; Centtrip Limited is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (EMI). Our firm reference number is 900717. The wage|corp Centtrip Prepaid Mastercard® is issued by Prepaid Financial Services Limited pursuant to a license from Mastercard International Incorporated. Prepaid Financial Services Limited is also regulated as an Electronic Money Institution by the Financial Conduct Authority (registration number 900036); their registered office is Fifth Floor, Langham House, 302-308 Regent Street, London W1B 3AT.

 

How am I protected if my card is lost or stolen?

 

Using the app or the online platform you can access your account to remove any funds that are on the card. Also, you can block your card using the app or the online platform. Once this is done you can get in touch with the wage|corp help desk who can ensure the safety of your money and set up a replacement card.

 

How do you protect my data?

 

At wage|corp your security and privacy is very important to us, so our Service Provider takes great care in keeping your information and data private and complying with all relevant legislation such as the UK and European Data Protection law and Security Standards including as ISO 27001.

 

They deliver the best possible, secure online experience for our customers. To ensure your security they encrypt all data and use usernames with strong passwords that expire your sessions after a period of inactivity. They also protect their systems with the latest firewalls and constantly monitor their technology to defend against the potential risks from hackers and fraudsters.

 

How does Wagecorp follow Anti-Money Laundering and Combatting Terrorist Financing regulations?

 

Wagecorp Payroll Management Limited, WageCorp Limited (wagecorp) and Centtrip Limited (Centtrip) is committed to combatting Money Laundering (ML) and Terrorist Financing (TF) and adopts a proportionate risk based approach to exposure. By definition, this means that Centtrip are required to have the appropriate policies and procedures in place. Centtrip’s own Anti Money Laundering (AML) & Combating Terrorist Financing (CTF) procedure manual is approved by PFS and backed up by their own policies and procedures. It is subject to approval by all associated service partners and where appropriate by customers.

important information resource

We encourage you to enrol in the fight against modern slavery in supply chains with

https://www.stronger2gether.org
https://www.nhs.uk/conditions/coronaviru

Coronavirus (Covid-19) Advice 

https://www.antislavery.org

Free Migrant Helpline

https://www.migranthelpuk.org/welcome

Raise Awareness of Anti-Slavery 

#rememberitsyourchoice 

We are Regulated and Licensed by the Gangmasters & Labour Abuse Authority.
 
Our GLAA Licence No is: WAGE0001.
Follow the GLAA here:                                                              

​© 2020 by wagecorp payroll management limited​. company number: 10399195

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