The Benefits Of Using A Visa Debit Payroll Card

Operating at peak efficiency means considering all the ways that you can improve your business processes. Outsourcing functions such as payroll processing leads to a more streamlined system while enhancing benefits to employees and supporting cost-cutting measures. Shifting to a Visa debit payroll card instead of paper checks provides even more advantages for employees and employers.

How does a Payroll Card Work?

Instead of paper checks, employees receive their wages on a Visa debit payroll card, which should be in their possession at all times. Using direct deposit, the pay card is loaded with the equivalent of the employee’s wages on the day that the payout is due. Employees can access these funds immediately through ATM cash withdrawals, point-of-sale transactions and anywhere that Visa is accepted. They can also use the card when shopping or paying bills online.

The Visa payroll cards are issued free of charge to employees of companies that are enrolled in the program. This is not an entirely new concept. As early as 2005, the Administrator of National Banks based in Washington D.C. issued a report on the benefits of encouraging employers to use the payroll card system to distribute wages.

Payroll Debit Card Benefits for Employees

Essentially, the Visa payroll debit card is a cash management system for employees. No fees are charged for using the card for online and for retail store purchases, including cashback transactions. Employees do not pay a fee for ATM transactions. With the pay card, employees can monitor card activity, receive text alerts regarding balances and activity and review their account history online.

Employees have quicker access to their pay. Unlike paper checks where you have to line up to collect your wages, funds that are accessed through a payroll debit credit are available for use almost immediately. The Visa payroll debit card is even more valuable for workers who do not use banks or have limited access to one. Employees who typically use check-cashing services will avoid the fees charged by these businesses.

Payroll Debit Card Benefits for Employers

It is easy to set up the payroll debit card system especially if you are already outsourcing your payroll processing. It will eliminate the costs associated with using paper checks, including the cost of supplies and manpower needed to prepare and process these checks. It will drastically reduce stop-payment expenses. There will be no need to replace checks that have been lost or stolen since you will not be using them anymore. This will eliminate some of the workload of your payroll processing staff, freeing them up for business-critical tasks.

Getting Started with the Payroll Debit Card

To switch from paper checks to the Visa debit payroll card, consider using a third party provider to process your payroll. We have built a name as a third-party provider for some of the most important back office functions such as payroll and benefits management. We can streamline your payroll system and sign up your employees for the Visa debit card.