Payroll debit cards provide effective payroll solutions for small companies that have an employee base of approximately 50-500. These cards are also called "paycards." The cards involve an association of businesses with debit card providers, such as Visa and MasterCard.
Employers issue these cards to their employees and then deposit the amount of the salary in the central account. On payday, the employees can simply withdraw their salary with the help of these cards.
Business heads can send money to employees around the world through these cards. This feature is also very useful for companies that employ part-time or temporary employees, since they need not open a checking or savings account to receive money.
The debit card payroll services can help small businesses cut down their administrative costs by a considerable extent. Business owners can save on printing costs that they would otherwise spend on printing checks.
The use of these prepaid cards is beneficial for employees also. They don't need to stand in queues for long hours to withdraw money from a bank, as they can withdraw their salaries from any ATM center of the bank associated with the payroll program. The best part is that they can withdraw their salary in parts or as a lump sum.
Through these cards, employees can pay directly for their shopping even if they don't have cash. They can also keep track of their banking activities by contacting their debit card service providers through the Internet or by phone.
The cards are safer to carry than cash, as they can be replaced in the event of loss or theft. Thus, payroll debit cards are a hit with employees too.
Many companies in Malaysia, Singapore and Germany are using debit cards for payroll services and reaping the benefits. They have managed to cut down their administrative costs and increase their profits.
Employers issue these cards to their employees and then deposit the amount of the salary in the central account. On payday, the employees can simply withdraw their salary with the help of these cards.
Business heads can send money to employees around the world through these cards. This feature is also very useful for companies that employ part-time or temporary employees, since they need not open a checking or savings account to receive money.
The debit card payroll services can help small businesses cut down their administrative costs by a considerable extent. Business owners can save on printing costs that they would otherwise spend on printing checks.
The use of these prepaid cards is beneficial for employees also. They don't need to stand in queues for long hours to withdraw money from a bank, as they can withdraw their salaries from any ATM center of the bank associated with the payroll program. The best part is that they can withdraw their salary in parts or as a lump sum.
Through these cards, employees can pay directly for their shopping even if they don't have cash. They can also keep track of their banking activities by contacting their debit card service providers through the Internet or by phone.
The cards are safer to carry than cash, as they can be replaced in the event of loss or theft. Thus, payroll debit cards are a hit with employees too.
Many companies in Malaysia, Singapore and Germany are using debit cards for payroll services and reaping the benefits. They have managed to cut down their administrative costs and increase their profits.
About the Author:
Debit cards payroll services can prove very useful to small business organizations by enhancing their business prospects considerably.
Hi friends,
A debit card payroll system can help growing businesses in managing their payroll electronically. One of the benefits of using payroll debit cards for employers is a drastic decline in payroll processing costs. There are many benefits of using a payroll debit card. Employers do not have to pay any fees to check cashing shops when the staff wants to encash their salaries. Thanks...
Paychecks Payroll
Interesting post. There should be more post like Yours!
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