A business has to do what they can to make payroll as affordable as possible. Luckily, direct deposit, which can cost money, is not the only option available. A new method is called direct debit and it is becoming available in many businesses. When payroll services need a bit of revamping, this is a good system to invest in.
The process is rather simple in that each employee is given a debit card. Instead of that employee using their regular bank account via direct deposit, this debit card can be used instead.
Each pay period, the business, which is you, deposits money into the cards account for each employee. This enables the money to arrive in a very timely fashion. There are no paychecks to have to worry about because the entire process is electronic. If a mistake is made, it can be corrected quickly. Many corners are cut by the payroll department because no check is involved. If someone doesnt get their wages, the problem is easy to trace.
As for what the employee does with their money after the deposit, it is up to them. Just like any card that is attached to a bank account, this sort of card has a pin number that can be entered at an ATM machine and the cash withdrawn. The cash can be withdrawn just to have cash or it can be withdrawn to deposit in the employees regular bank account.
So this card is no different than using your regular card. You can pay bills with it, use it at the grocery store, and so much more.
The reason why the card can be used in so many locations and situations is because it displays the Visa or MasterCard logo. This allows the card to be used as a credit card on purchases, which means not having to use the pin number on all purchases.
For the business, this is quite beneficial. Whether your business has 10 or 300 employees, it all works the same. This is an affordable system, a paperless one, and it is quick. The employees will enjoy it.
So if you need better payroll solutions for your company, using a prepaid debit card or prepaid credit card for each person that works for you will do a lot for you and for them. This is a safe and clean method of paying individuals and a great solution for all involved. When you look at the numbers, youll be amazed at how much money and manpower is saved. - 16890
The process is rather simple in that each employee is given a debit card. Instead of that employee using their regular bank account via direct deposit, this debit card can be used instead.
Each pay period, the business, which is you, deposits money into the cards account for each employee. This enables the money to arrive in a very timely fashion. There are no paychecks to have to worry about because the entire process is electronic. If a mistake is made, it can be corrected quickly. Many corners are cut by the payroll department because no check is involved. If someone doesnt get their wages, the problem is easy to trace.
As for what the employee does with their money after the deposit, it is up to them. Just like any card that is attached to a bank account, this sort of card has a pin number that can be entered at an ATM machine and the cash withdrawn. The cash can be withdrawn just to have cash or it can be withdrawn to deposit in the employees regular bank account.
So this card is no different than using your regular card. You can pay bills with it, use it at the grocery store, and so much more.
The reason why the card can be used in so many locations and situations is because it displays the Visa or MasterCard logo. This allows the card to be used as a credit card on purchases, which means not having to use the pin number on all purchases.
For the business, this is quite beneficial. Whether your business has 10 or 300 employees, it all works the same. This is an affordable system, a paperless one, and it is quick. The employees will enjoy it.
So if you need better payroll solutions for your company, using a prepaid debit card or prepaid credit card for each person that works for you will do a lot for you and for them. This is a safe and clean method of paying individuals and a great solution for all involved. When you look at the numbers, youll be amazed at how much money and manpower is saved. - 16890
About the Author:
Direct debit makes for better payroll solutions. Strengthen your payroll services by providing your affiliates with debit cards rather than paper checks.
No comments:
Post a Comment