What does management of paycards look like from the employer perspective?
Employers should get a signed employee consent in advance of issuing a pay card to the employee, we do not require the consent, nor does the pay card issuer, the consent is to protect the employer, it should be kept on file.
Each paycard comes in a "card pack" which has a unique identifier on it.
To issue a card to an employee, the employer will register the card on the pay card portal, associating the the unique identifier that is on the card with the employee
Because the card is "reloadable" personal information such as the employee's name, contact information and SSN are required
There is no credit check, every employee is approved so long as the employer completes an I9 verification or uses eVerify.
Upon completion of registration, the portal will provide a bank account routing number and account number which the employer can print out or note
For each employee using a paycard, we will need the employer to provide an employee signed direct deposit authorization form populated with the routing and account number provided by the paycard portal.
What does the setup and use of paycards look like from the employee's perspective?
After receiving the card pack, the employee will activate the card in a manner similar to activating a credit or debit card (either through a downloadable mobile app or via a call center)
Employees can use the paycard just as the employee would use a debit or credit card.
How much do pay cards cost?
There are no paycard fees to the employer and use can be low to no charge for the employee
If the employee uses the payrcard's network of ATM's there is no charge, if the employee does not use the paycard's network, fees may be assessed by the ATM's owner.
How do we get started?
Let us know if you'd like us to arrange an introduction between you and the pay card issuer or let us know if we can pass your contact information along to the pay card issuer so they can follow-up with you directly.