Payroll Debit Cards are also known as Pay cards. It is an innovative new employee payment process. Payroll Debit Cards allow companies to target for a 100% direct deposit. This is functional even for employees without a bank account. Payroll Debit Cards are multi utility electronic payment cards.
About Payroll Debit Cards
Payroll Debit Cards use direct deposits for employee payment programs. The employees need not have a bank account for using this.
Payroll Debit Cards are electronic cards, which electronically pays
conducts transactions involving direct deposits
pays EBT cash benefits
The employer opting for a Payroll Debit Card payment program first constructs a centralized payroll account. A payroll debit card is then issued to each employee. The employer electronically deposits into this account the concerned amount for each employee per day.
The employees on their part can withdraw their salary from any ATM by using their Payroll Debit Cards. Alternatively the Payroll Debit Cards can be used directly for making purchases or getting cash backs. The payroll vendor in charge of this program keeps a tab on the debits and credits accruing to each pay card. They send out paper receipts and tax forms to employees. The employees are also given the option of checking their balances. This can be done either by telephone or online.
More on Payroll Debit Cards
Payroll Debit Cards exhibit a number of benefits. They decrease the ‘payroll processing ‘cost to a certain extent. The Payroll Debit Cards also grant cash back offer on purchases made at Visa Interlink retailers. These cards have a low fraud risk. The postal services department of USA provides free money order services on each payroll. It is also insured by FDIC.
Payroll Debit Cards establish employee direct deposits. The service providers with minor variations broadly provide these and a host of other related services like global ATM access, easy and smooth international money transfers. The Payroll Debit Cards can also be used for receiving
Social Security Benefits