Using your payroll debit card

According to American Payroll Association, only three percent of the total population is using their payroll debit cards, presently known as the Pay cards. In future, maybe 22000 members, half of the association members, are thinking of using these types of cards in their payroll system sometime in the future. Although, there are many banks who offer these kinds of services, but there are still many more who are not aware of these cards. Employers who are keen in using these kinds of services of paying wages to their staff can learn more and implement it in their system.

US is considered to be one of the most technologically advanced countries but there are still many companies who still write a number of checks to pay wages to their staff every pay period. Those companies who have been implemented the use of Pay cards have got satisfactory results with the new bank service.

One of the benefits of using payroll debit cards for employers is a drastic decline in payroll processing costs. It hardly costs 20 cents per transaction while loading a pay card. Paper checks are more expensive and can cost up to $2. There are many companies that employ part time workers who do not have a bank account and these pay cards will sound to be very helpful in their cases. Recent statistics say that almost 17% of the total working US population does not have an active checking or a savings account. A debit card payroll system can help growing businesses in managing their payroll electronically.

There are many benefits of using a payroll debit card. Employers do not have to pay any fees to check cashing shops when the staff wants to encash their salaries. Some of these check cashing places may charge 10% for every pay check that they cash in. Besides, carrying card is always safer than carrying hard cash. Pay cards can also be used as debit or credit cards. So online transactions can be done very easily and pay monthly utility bills and make other purchases online. Using these pay cards can be a very happy experience for both the employer as well as the employee.