Qualifications for a prepaid salary

Those who can receive a prepaid salary are those who meet the following criteria:

• 25 years or older
• Receive a transaction into their indó account around the end of the month equivalent to a salary for the past 3 months, at least 150,000 ISK. The transaction itself does not need to come directly from an employer and can come from anyone. We just need to be able to count on a similar transaction next month to charge the prepaid amount back.
• Reside in Iceland and have a social security number that is at least 36 months old.
• If you have previously taken a prepaid salary and not paid back on time or if an overdraft has gone into debt, you are not eligible for prepaid salary. However, you can have an active overdraft to receive prepaid salary.

These are the guidelines we are using initially, but we may change these conditions as time goes on and we gain more experience with lending.