Our PayCard program can simplify the way you distribute your payroll and benefits funds, eliminating the need for paper checks and giving employees immediate access to funds. Instead of paper checks, issue your employees these reloadable debit cards and save up to $4 in check processing costs per transaction.
How It Works
Some employees may not have access to a checking account and, until now, would not be eligible for direct deposit. The PayCard allows this employee group to participate in direct deposit. Their PayCard debit card can be used to make purchases anywhere that accepts Visa, pay bills online, or even withdraw cash at ATMs*.
And you don't need to change how you handle your payroll; simply add PayCard cardholders as you would for employees with direct deposit to their checking accounts.
Once a deposit has been made to the PayCard, the employee can access their money at any ATM* and make purchases wherever Visa is accepted. In addition, cash advances are free at any Visa service provider.
Benefits for You
- Eliminate an average of $2-$4 in processing costs per paper check
- Eliminate uncollected and lost paychecks, as well as check fraud
- It's easy to get started using standard payroll direct deposit
Benefits for Employees
- No need to cash a paper check or pay check cashing fees; funds are available immediately on payday
- Can be used to make purchases or pay bills wherever Visa is accepted
- No risk of overdrafts - card will be declined without sufficient funds
- Cash can be withdrawn at any ATM* worldwide
- Deposited funds are covered by FDIC insurance
Eliminate costly paper checks from your payroll routine with our PayCard program. For more information, or to sign up, call us at 1.800.205.3464 or email us.
* Access is free through the MoneyPass ATM Network, otherwise, $1.50 for withdrawals and $0.50 for inquiries at any other domestic network.
The creditor, issuer and service provider of PayCards is Elan Financial Services.