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What is ZayZoon and why does it require my personal name instead of my business name?

What is ZayZoon?

ZayZoon is an optional third-party service offered through our payroll provider. It allows you to access a portion of your earned funds before the standard payout dates (the 15th and 30th/31st).

  • No Action Required: If you prefer the standard twice-monthly payment schedule, you do not need to sign up for or interact with ZayZoon.

  • Earned Wage Access: For those who need more flexible cash flow, ZayZoon provides a bridge between pay periods.

The Business vs. Personal Requirement

To comply with ZayZoon’s service terms for 1099 contractors, your payroll profile must be registered under your legal first and last name and Social Security Number (SSN).

  • The Limitation: ZayZoon's system cannot verify or provide early funds to accounts listed under a business name or EIN (Employer Identification Number).

  • The Trade-off: If you request that CCS update your account to your personal information so you can use ZayZoon, your Year-End 1099-NEC will also be issued to your personal name and SSN rather than your business entity.

How to Switch

If your account is currently set up under a business name and you would like to transition to a personal setup to utilize ZayZoon:

  1. Email support@collectivecounselingsolutions.com.

  2. Request a change from Business/EIN to Personal/SSN.

  3. Confirm you understand that your year-end tax documents will reflect this change.

Key ZayZoon Details to Consider:

  • Fees: Typically, ZayZoon charges a flat fee (often around $5) per payout, rather than an interest rate.

  • Withdrawal Limits: You can usually only access a percentage of your already earned (but unpaid) funds, up to a specific daily or pay-period cap.

  • Instant Transfer: Funds are generally sent to your debit card or bank account instantly or within the same business day.

Here is the direct link to the ZayZoon Help Center.