The South Carolina Earned Wage Access Services Act requires all providers of earned wage access services to register with the South Carolina Department of Consumer Affairs. “Earned wage access services” means the business of providing consumer-directed wage access services or employer-integrated wage access services, or both. The new law was signed by the Governor on May 21, 2024, and goes into effect on November 21, 2024.

As part of the licensing process, you are required to post a $30,000 Earned Wage Access Services Provider bond with the SC Dept of Consumer Affairs.