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Payroll Debit Card Program : A Perfect Payment Option:

11.06.2009 · Posted in Business News Article

An organization employing payroll solution issues payroll debit cards to its employees. However, these cards present more benefits rather than just being an efficient payroll solutions. Payroll debit cards and prepaid credit cards are similar in the sense that spending through card cannot exceed the amount balance in your account.nnBusiness owners or employers can send money to their employees anywhere in the world. They can keep a track on the card balance and money transfers over the Internet. As these cards eradicate the need of paychecks they help to save a substantial amount of money by saving the printing cost.nnOne of the major advantages of payroll debit card is that it can be used by employees who don’t have a bank account. The employees don’t need a checking or savings account in a bank for salary transfers.nnThey can easily access their funds through ATMS’s that accept prepaid credit cards such as Visa or MasterCard. Employees don’t need to visit a bank to withdraw their salaries. Employees receive their payments automatically on the day of the salary transaction. This also helps to save time of the employees.nnIt is very convenient to receive wages on a payroll debit card. You can either withdraw your whole salary in one go or in parts over a period of time. The money is safer on a debit card than it is as cash. If your payroll debit card gets stolen, you can deactivate it immediately.nnSupplemental security income, civil service retirement, rail road retirement and pay checks of social security can be directly deposited to employees’ card account without any additional charges. Employees can also use these cards to pay bills and purchases online. Through these cards, an employee can pay bills without paying money order charges.nnEmployees can save on high money transfer fee. Using an employee prepaid card, the transfer fee comes down to just $0.50, irrespective of the amount you transfer. They can also check their account balance using phone or Internet.nnSeveral small companies in Asia(Malaysia and Singapore), Europe(Germany) and Brazil have implemented and reaped benefits from payroll solutions through payroll debit cards.

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