Using Employee Debit Payroll Cards to pay employees is increasing in popularity for good reason. Both employer and employee alike can benefit from using this method of electronic paycheck delivery.
Although many cards can appear to offer similar features, employers should take care to thoroughly research what each card offers. In addition, the fees associated with each type of transaction can vary widely.
Be sure to investigate the fees for the available features to compare the true cost of all reloadable debit payroll cards under consideration before making a decision.
Look for the following features when comparing cards:
In addition, some cards offer Early Pay Distribution (EPD), which enables employees to withdraw funds against wages earned but not yet paid. As an alternative to other high-cost options such as short-term high-interest loans, this feature can be especially attractive to employees.
Fees for this service can vary widely; look for an employee debit payroll card that offers no fees for the employer and a small flat fee to employees to provide the best benefit.
Carefully scrutinizing the features offered and fees charged will enable your company to choose the card that is offers the best combination of features and fees that work for employer and employee alike.
Employee Debit Payroll Cards