Payroll cards enable all employees to be enrolled in direct deposit, regardless of an existing banking relationship. It easily integrates with your existing payroll system and features a user-friendly online enrollment platform.
The primary advantage of a payroll card is the immediate elimination of costs associated with producing paper paychecks, which can equate to more than $1 per employee, per pay period.
Secure and No Additional Systems Required
You can offer your employees 24/7 access to funds, safety and security, on-time pay no matter what (including employees on vacation or sick leave, remote employees, and so on), elimination of time-consuming trips to the bank, and more. A payroll paycard functions much like a debit card and minimizes check fraud.
Convenient and Flexible
Immediate availability of money on payday and families can receive multiple payroll cards for use. Incorporate the Sage Payroll PayCard program into your existing process regardless of the payroll software or service you currently use. You can also offer it if your organization provides direct deposit.
Reduce costs and provide a better employee experience on payday with a payroll card
Typical setup is just a few business days; however, it takes about five business days after setup for the employee to receive their card in the mail. Payroll administrators should plan accordingly. There aren’t any additional setup fees.
The publicity has been focused on employers who mandate payroll cards and use card providers with excessive fees. Sage does not recommend mandating payroll cards and there are many states that won’t permit it. Payroll cards are a wonderful addition to direct deposit to achieve 100% electronic pay and help the under banked employee avoid check cashing fees, purchasing money orders to pay bills, carrying large amounts of cash, logistics of getting to a check cashing facility etc. ATM fees, which the publicity focused heavily upon, are largely avoided by using the Allpoint ATM network.