Background
We are always looking for ways to save our customer time and money, so when a pay card company approached us about a partnership, we were interested but skeptical. After reviewing their product offering, checking on some of their references, and because this pay card program is FREE to both employer and employee, we decided it would be a good partnership.
If you pay employees with printed checks or cash, using a pay card to pay wages can benefit both you and your employees.
Benefits to You, the Employer
- Save time & money: Pay cards reduce the human hours spent printing, distributing, and reconciling paper checks. You also spend less on paper and ink. You issue one pay card per season to your employee.
- Security: Never worry about lost checks or compromised bank account information. You transfer funds to the pay card company, and they load the pay card with the employee’s wages. If a card is lost or stolen, the employee interacts with the pay card company, not you.
- Eliminate Accounting Problems: Your employees will get their wages immediately, and you will never have to worry about carrying an uncashed payroll check on your books again.
- Ease of use: The pay card integrates seamlessly with your payroll.
- Flexibility: Pay cards can be used for various types of payments beyond just wages, such as bonuses, reimbursements, and incentives, offering you more flexibility when managing compensation.
Benefits for Your Employees
- Accessibility: Your employees will have immediate access to their wages without having to visit a bank or check-cashing store. Employees without easy access to traditional banking services will find this especially beneficial.
- Convenience: Pay cards function like debit cards and can be used for purchases, bill payments, and cash withdrawals at ATMs (with this pay card, the employee has access to approximately 55,000 fee-free ATMs). Your employees won’t need to carry cash or wait for checks to clear.
- Security: Pay cards offer enhanced security features such as PIN protection and fraud monitoring, reducing the risk of loss or theft compared to paper checks. Your employees will feel more secure knowing that their wages are protected.
- Cost savings: Without the need to cash checks or maintain a bank account, your employees will save on fees associated with check-cashing services or bank account maintenance. Less money for the bank means more money for them.
- Budgeting and tracking: Our pay card partner offers online account access and tools for budgeting and tracking expenses.
Conclusion
Overall, receiving wages via a pay card can offer employees greater accessibility, convenience, security, and cost savings compared to traditional paper checks, while also promoting financial inclusion and providing tools for financial management.
For more information, check out our web page https://2ndsightbio.com/en/partners/dash-payroll-card.
Or contact 2nd Sight today at 509-381-2112 or