Payroll Debit Card Increases Employee Conveniences

2007-11-09 05:11:17

( Financial )



If you would like to reduce your costs associated with preparation and payment of your employees' payroll, a payroll debit card may be a good solution. The payroll debit card allows you to eliminate the tedious task of preparing payroll checks for each employee.

The payroll debit card is one product you can find in the diverse family of visa debit cards. You can arrange with your bank to issue payroll debit cards for your employees. Your employees will have to apply for a debit card account with the bank.

Once the debit card account is in order, the bank issues the payroll debit card to your employee. You will want to know the account number of each employee's payroll debit card as you will arrange for the employee's payroll to be credited to that account number.

A payroll debit card functions like a reloadable prepaid visa debit card. Since you have already made prior arrangements with your bank, all you have to do for each pay period is to inform the bank the amount that the employee has earned for the period. The bank loads the corresponding funds onto the payroll debit card and the funds thus become available to the employee on payday.

The employees will enjoy a big advantage with the payroll debit card. For one, they no longer have to deposit your payroll check into their account anymore. Once the bank reloads their payroll debit card, it is as if they had made a direct deposit.

Your employees can use their payroll debit card to pay for purchases, and they can be sure the cards will be accepted in any establishment that accepts visa debit cards. They will have to remember that the payroll debit card is not a credit card, and the money they are using is their own, but they enjoy its conveniences.


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