Payday is something greatly anticipated, but with lengthy queues and delays when cashing cheques, the day is not without its frustrations. For companies, printing, mailing, tracking and reconciling cheques can become a laborious, complicated task – far costlier than electronic alternatives.
That’s where prepaid payroll cards come in. Here’s why they are a better payroll option than cash or cheque:
1. It’s a better way to pay
Prepaid payroll cards make payday a breeze – not to mention cutting costs. Companies that make use of these cards experience a streamlined, safer employee payment process that’s far less expensive than paying wages by cash or cheque. It’s the perfect way to pay under-banked, contract, seasonal, temporary, and satellite office employees efficiently and easily – improving the payday experience across the board. The low issuing fee further contributes to cutting down payroll-related costs.
2. It’s a better way to get paid
No bank account? No problem. Prepaid payroll cards grant instant access to wages – a safer alternative to cash and cheques. It’s a smarter way to manage money – employees can use the cards in the same way as traditional debit or credit cards, without the hassle. One can easily withdraw from ATMs, pay bills and make purchases online or in-store. Continue reading “5 reasons Prepaid Payroll Cards are better for Payroll”