Friday, June 19, 2009

The Debit Card And Payroll Relationship - A Match Made In Heaven.

By Joseph Jefferson

Are you a business owner looking for a way to reduce the time and the fees spent every two weeks on payroll? Your employees need to be paid, but there is a much simpler option to cutting and cashing checks fortnightly- its called a debit card. Thats right. With a debit payroll system, you can automatically send money to your employees through their bank accounts. They can retrieve the money the next day (or often the same day) through a debit card or a prepaid credit card. Its that simple.

You can minimize your employment pay roll expenses, reduce the time wasted cutting and signing checks, and, most importantly, stand to save a small fortune on monthly payroll fees.

You are helping the environment. Weve all seen the facts and figures about the state of the environment and we also all know that we should be doing something about it. By switching to a debit card payroll system, you are actually doing something about it.

First of all, with a direct debit payroll services, you can send money to your employees directly into their account. Your employees can also save time and effort cashing checks as well as money from the processing fees from their local bank. The money usually takes less than 24 hours to process so they will receive money the next day.

You are making it easier for your employees (and yourself). Every time you give your employees a check, it is up to them to head to the bank, pay the fee and cash the check. For those with families and engagements outside of work, this can be very frustrating. With direct debit, you are making it a lot easier for them to receive money without having to make that extra trip to the bank. This small gesture will go a long way in your employees eyes.

Furthermore, you are making it a lot easier on yourself as well. After all, instead of spending your Thursday nights signing checks to deliver on Friday morning, you can rest easy knowing that you can send money automatically through the debit payroll services.

You are saving an incredible amount each month/year on employment payroll fees. Regardless of if you have 2 employees or 2,000 employees, cutting checks every second week is going to add up.

Now, perhaps you have a larger company with 300 plus employees and are considering the switch to debit card transactions. It will take you an entire day to write out 300 checks biweekly, not to mention it will end up hurting your wrist. By switching to a debit card payroll system, according to the APA and American Bankers, you may be able to cut back over $6,200 annually on check cutting costs, which equates to $520 monthly. - 16890

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