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Payroll ADULT CREDIT Debit Card PROCESSING

This card is issued to the employees of organization. These cards work like one stored-value card. Employer deposits his/her net income on these debit cards, this income can be withdrawn by employees from whichever ATM he/she wishes. Payroll debit-card comes along with a brand-logo of Visa or MasterCard.

Issuers of payroll debit-card:

Payroll debit-card is also termed “pay card” which can be given to the employees without bank account. Single payroll-card account can be opened in employer’s name. Bank holding centralized account usually monitors transactions of payroll-debit-card including withdrawals and deposits, along with the other paperwork.

The features of the payroll-debit-card are as listed here:

Firstly, you can obtain cash easily from ATMs bearing MasterCard or Visa logo.

Secondly, this card is acceptable in gas stations, hotels, restaurants, and other establishments worldwide.   

Thirdly, immediate reimbursement and termination of pay is acceptable.

Benefits exhibited by the Payroll debit-cards are as listed here:

While making salary transfers, it is not required that you possess a savings or checking account.

You can monitor card transfers and balances online, which is indeed an easy way of tracking salaries and wages.

No discounting amount is taken, when you are cashing-in your salary checks

Check printed can be obtained at reduced cost for employer

Few of the payroll-debit-cards provide remittance service which enables fund transfer freely to overseas

Thereby, you obtain freedom and safety from carrying the cash

Few limitations also exist, they are:

The usage of payroll-debit-cards for withdrawals and purchases is subjected to a charge or fee, which is deducted from balance amount on card by issuer.

Few payroll-debit-cards come up without the pin number; this makes these cards vulnerable to misuse by frauds.

Most of the payroll-debit-cards don’t provide direct bill-payment service and necessitate opening up of another checking bank account for this.

These cards don’t offer the overdraft facility and cards which offer this, charge a huge sum for it.

This type of card-system is viable for business with seasonal or temporary employees. This card can be given to the young employees also, who are not qualified for direct-deposit payroll-scheme.

Some people stumble to go to bank and others do not have admittance to obtain checking account, so as to cash. For several reasons, people needed alternatives in order to cash their payroll check for years. Most of the corporations have come with an idea which saves money and in turn assists their employees. With the use of the payroll-debit-cards, the issue of pay checks becomes easier, people need not worry about dropping their checks to obtain cash, and company can also save cash on check printing and distributing. Indeed it is cost effective to upload the pay checks to the debit card, rather than distributing the paper-checks to employees.

One can make use of the payroll-debit-cards like any regular credit and debit cards. The usage of the payroll-debit-cards is more in factories, where more than two hundred employees are present.     

In all, payroll-debit-cards are the greatest asset to the any type of business related to the employer and employee. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.