The average amount workers take as an advance on their wages has risen by 10 per cent in 2026, according to data from London payroll platform PayCaptain, which published the figures on 23 October 2026.
PayCaptain said the average wage advance on its platform rose from £119 in January to £130 in September, and that most people taking emergency cash work in the leisure industry. The company did not say how the 10 per cent figure was calculated; the two averages it gave are a rise of a little over 9 per cent.
The company compares the rise with Consumer Prices Index inflation of 3.5 per cent in the 12 months to September 2026, and says emergency cash needs are rising almost three times faster than inflation.
How the platform is used
PayCaptain lets employees see their earnings build up in real time, take emergency cash at no cost to them, set up salary savings and read their pay in plain language. The company says workers have used it to access £8.5 million in urgent pay so far in 2026, and that people on the platform save £140,000 each payday in automated, interest-bearing savings protected by the Financial Services Compensation Scheme.
Anna Buckle, chief impact officer at PayCaptain, said: “It is clear from the data we have on advanced wage access that UK workers are finding it increasingly difficult to cope with the cost of living in 2026. This is especially true for low-paid workers with little financial resilience and who would traditionally be forced to turn to payday loans or other high-interest options.”
Simon Bocca, founder and chief executive of PayCaptain, said: “As the cost of living crisis continues to deepen, supporting employees’ financial wellbeing is not just about meeting obligations as an employer.”
The London wage picture
PayCaptain’s release points to recent Living Wage Foundation research, which found that only 10 per cent of workers on low pay could cover an unexpected £200 bill from current income without difficulty, and that 31 per cent have no savings at all, up from 24 per cent in 2025. The Foundation set the new real Living Wage on 15 October 2026 at £14.10 an hour across the UK, up 4.8 per cent, and at £15.45 an hour in London, up 4.4 per cent, according to its announcement.
More on money and the capital’s employers is in our finance section, and more company news is in companies.