Usage Of Payroll Debit Cards To The Employees Of A Company: 1 comment
Employer who have employed debit card payroll services can keep an eye on money transaction process through Internet with the help of payroll service provider. Employees can also check their account balance through phone or Internet. Thus, debit card payroll services allows you to have complete transparency in your payment process.
Payroll debit cards are a great option for companies that hire employees working on temporary or part time basis. Thus, a payroll debit card can be given to young employees who are not always eligible for deposit payroll scheme.
Some payroll debit cards allow employers to send money anywhere around the world without charging an extra fee. Thus, a payroll debit card program is beneficial for organizations that have employees in foreign countries.
Using debit card payroll system employees don’t need to go to a bank and wait for long hours in queues to get their checks cashed. They can receive money by visiting any ATM. They just have to enter a unique PIN (Personal Identification Number). In addition, employees don’t need to pay any money for maintaining a bank account or making money transactions. Thus, they can save substantial amounts of money.
Payroll debit cards work in the same way as prepaid cards. Employees can therefore use these payroll debit cards as prepaid credit cards such as Visa or MasterCard. The employees can also use these cards to pay their shopping bills.
Payroll debit cards are more convenient and safe to carry than cash. Also, the probability of fraud is also minimized by usage of payroll debit cards. In an event if the card is lost, employee can inform the company’s payroll service provider and get the card deactivated.
Payroll debit cards prove beneficial for employers as well as employees. Several countries such as Malaysia, Brazil, Singapore and America have reaped benefits from payroll solutions provided by payroll debit cards.
A prepaid card program or debit card program program offers multiple benefits to employees of small businesses.
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I used to work at Ruby Tuesday and our card was pretty bad. But, from what I hear, it was typical because most cards either have a monthly fee or pretty limited as to the free items. I have worked at Starbucks for about 7 months now and they allow us to have a card called the Money Manager Card. The choice was pretty simple because there are no monthly fees, I can use it on their network (allpoint atms) free at all times, never any fees to buy things (signing or using my PIN and getting cash back if I want…all without a fee or surcharge), no overdraft. Let’s just say I haven’t paid a fee in the entire time I’ve had the card. It’s pretty simple to use it at no charge and I really don’t have to tip-toe around any limited free items like most other cards I have seen have.
Oh, and don’t lose most payroll cards! If you do, it’ll cost you $$ even to get the replacement sent by the post office. My new card give free replacements when delivered by the post office all of the time. Or, if I want, I can get it delivered by Fedex for $10. Pretty reasonable as I sent something by Fedex a month ago and paid $14!
My point is, if you are a company and are going to get your employees something, don’t do what Ruby Tuesday did and get something that costs your employees $$$ to use it! I hated them for “giving” us that card…IMHO of course.
I should state that Walmart has something that is similar sounding to Money Manager Card. I think it is the Money Card or something like that. That card is definitely not the same.
I did a quick Google search on Money Card when investigating the Starbucks offering and mistakenly clicked on a link to a Money Card “problem” page where people complained about it. Then, I realized that “Money Card” is not “Money Manager Card”.
Thought I would let you know so you don’t make the same mistake.