Convenience for Employees Without Checking Accounts
For employees who don’t have traditional checking or savings accounts, Payroll On A Budget offers a simple, affordable solution: employee debit cards.
When you issue one of our reloadable debit cards to an employee, we’ll deposit that employee’s regular earnings into his or her individual debit card account. You can also deposit other funds, such as termination pay, exception pay and expense reimbursements.
You’ll eliminate the cost and hassle of printing and distributing paper checks – along with the possibility of check fraud – while adding a valuable benefit for your employees. It’s an easy way to reduce payroll time and costs. Three levels of cardholder plans are available that provide a mixture of ATM, Point of Sale, or a mixture of access options.
Your employees will enjoy the convenience of a payroll debit card, without the need for a bank account:
- Funds are loaded directly into the employee’s account when payroll is processed.
- One centralized account records deposits and withdrawals, protecting the balance if the card should be lost or stolen.
- Safer than cash: A PIN number ensures the security of each employee’s funds.
- Employees pay just a small monthly fee – much less than the cost of a check-cashing service.
- Card holders can use their cards at most ATMs and retailers (fees may apply), just like a bank account debit card.
- Employees can even pay their bills online using debit card account funds (fee may apply).
- Employees can sign up for free text message alerts when funds are added.
- Cardholders can transfer funds from one payroll debit card to another, eliminating money transfer fees.
- Employees can specify that government payments and earnings from another employer also be deposited into their debit card accounts.
- Some employees may choose to qualify for an additional VISA card.
Offering this valuable employee benefit helps your employees become more financially stable, boosts employee loyalty, and keeps your business competitive when hiring.
Sign up for our comprehensive payroll solution now, or contact us to learn more about our convenient employee debit cards.