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Can I Use Replacement Wage Slips to Get A Bank Loan?

May 28, 2024
My company has stopped giving us payslips. All we get now is an email. I need to know if they can do this because my loan application was withheld because they wanted original wage slips not photocopies on A4 paper. Can you help?

We received this question from a client recently and it's typical of many enquiries we receive.

My loan application was withheld because they wanted original wage slips not photocopies on A4 paper. I said that is how I get them, but they said to go back and see my boss but he's not interested and said the bank is wrong. Technically your boss is correct. In recent years electronic payroll systems that fire out a pay summary by email are becoming much more common, and as long as your employer provides a summary of your pay with the correct information, he's fine to do so. Really it's the bank that need to update their processes as many more customers start to receive their wage slips this way.

Loan approved stamp

Back to the question: Can I Use Replacement Wage Slips to Get A Bank Loan?

Yes you can, and if your boss wont print a regular payslip on payroll stationery, and the bank wont accept your own print-out, you have little choice. You are not doing anything wrong. You could either buy a pack of payslips and transfer the information over yourself, which may be a bit time consuming and costly as you will have to buy a pack of payslips anyway. Although you will have these to use again if a similar situation crops up. Alternatively you could use a payroll bureau to create a replacement wage slip. This will cost less than the pack of wage slips and will likely be the simplest option as you will receive correctly printed payslips, in the right format, on genuine payroll stationery. Most Replacement Wageslip providers will be able to do this quickly, usually delivering your documents by post the following day.

Ordering is usually as simple as choosing the style of payslip you want and entering a few details regarding your pay. If it is easier forwarding your e-Payslip makes it even quicker. Sometimes customers have deleted their email copy, which is not really a problem as the wage slip can be recalculated as long as the client has a record of how much they were paid, and if they pay standard tax or other. With those details it is straightforward enough to create new payslips which will show the same information.

Note of Caution: We are sometimes asked if we do Fake Payslips or Novelty Payslips. We cannot check with the employer or HMRC whether the information you provide is correct. We do calculate everything correctly based on what we are given, but we do rely on the accuracy of that information from you. If someone needs wage slips as proof of earnings, we always advise they supply accurate pay information as most applications need to be supported by your bank statement which will show these amounts, or confirmation by the employer.

Replacement wage slips come in a varied choice of styles but most buyers stick to one of the traditional formats which are by far the most common. Most lenders request the last 3 months wage slips with your application. Typically 3 printed replacement wage slips in a standard style will cost around Fifteen pounds. By comparison a pack of blank wage slips may cost around Twenty pounds for a box, but getting your pay information lined up correctly and printed may take you quite a while, and involve a lot of test printing, using up your ink.

Popular Wageslip Styles

We supply replacement wage slips on Prime or Sage stationery in a choice of styles, including a self seal security mailer. It's personal preference but our guidelines would be that if you want to include employee address use Prime , Sage Plus, or Security style. If you do not want to show the employee address choose Sage Standard. Company address works better with Prime & Sage Standard styles but can be accommodated on others if quite short. All payslip replacements show full salary calculations such as basic, bonus, commission and overtime, together with deductions for income tax, national insurance, pension or student loan.

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OSCP Online Store / OS Payroll
Newgate St, Morpeth, Northumberland
NE61 7ST