What is a Paycard and why should my employees use them?
Many people today have never had or have lost their ability to work with a traditional bank. In fact around 30% of Americans are “Un-Banked”. Those employees are then forced to pay check cashing fees at your bank or worse at a check cashing business where they lose a significant percentage of every paycheck to the check casher. Paycards offer a great solution and benefit to your employees. The cards are free to your staff if used properly.
- Go Paperless! Offering Paycards can completely eliminate the need for paper checks.
- Save time and money. Save the time and expense of both handling paper checks and for the employee the expense of check cashing.
- Instant information! Your employees can text and know the balance of their account instantly. They can also go online and see even more information.
- Free Standard Swipe Transactions
- Free “Cashing Out” of the card balance every pay period at any bank that honors Visa or Master Card.
- Free Online Bill Pay. Your employees can pay their bills via bill pay to pay those expenses that will not accept a debit card – like rent or a car payment.
- Free Support in Spanish and English
- Cannot be overdrawn
- ATM Access – many at no charge
- Access to buy products online. If your employees don’t have a banking relationship, they probably cannot take advantage of buying products or services online – now they can. Airline Tickets, Music and Online Shopping.
- Free Text Alerts for important changes. Your staff can be alerted when their pay is deposited in their account or when there balance is low.
If you are interested in offering this benefit to your staff, please contact us today.