Did you know that you can offer your employees the choice to be paid via a payroll debit card? This is a great option for paying non-banking employees safely, and may be preferred by employees even if they do bank.
Rather than a paper check or direct deposit into their bank account, employees receive a debit card that is loaded with their paycheck each pay period. This provides instant access to funds from ATM’s worldwide and is accepted anywhere MasterCard/Visa is accepted.
The employee can go to any bank and withdraw cash from the card—either in the entire or partial amount. Each payroll includes one free transaction. Additional transactions include a nominal fee, though paying bills with the card directly to merchants is free.
“This offers convenience, flexibility and safety,” says Gary Young, PPA Director of Client Services, who notes that Precision Payroll has been offering this service for the past 8 years, but recently switched to a new provider offering top-notch customer service 24/7 in multiple languages.
While the payroll debit card is an especially useful option for employees with no bank account, it’s also a great way to pay seasonal employees and is even an attractive way for employees to save part of each paycheck toward a specific goal.
For example, an employee could opt to have $50 from each paycheck put onto the debit card, intending to save up for a vacation, with the rest being directly deposited into his or her bank account.
In addition to not costing the employer anything, this program is extremely flexible and can be used for one segment of the company or offered to all employees.
For more information, visit our website: http://www.precisionpayroll.com/payroll-services/administrative-services/, or contact Gary Young, Client Services Director, firstname.lastname@example.org, or 630-242-1522.