Payroll Card Vendors | How to Select a Payroll Card

When selecting a payroll card vendor, there are many things to keep in mind to ensure you select the best payroll card for your business. When considering a payroll card for direct deposit, you want to ensure you have the maximum participation possible from your employees, vendors, and contractors. By gaining maximum participation from those your business pays, your business will recognize cost savings from printing and distributing paper checks.

The benefit of using a direct deposit payroll card should benefit your business and your employees equally. Many companies use a payroll card provided by their payroll service provider, however the payroll card is provided as an optional form of payment and because employees have little benefit in using the payroll card they opt instead to receive paper checks. The reason for this is simple. Payroll cards have been presented as an optional payment method for employees however the benefits to the employee in choosing to receive payroll on a payroll card have been neglected. The payroll card in many cases has certain limitations that prevent the employee from accessing their cash in a cost effective manner, or the payroll card has so few benefits that the payroll card is unattractive to the employee. Some payroll cards for example may only be used for cash withdraw which incurs an ATM withdraw fee and are unable to be used as a VISA purchasing card. Many payroll cards do not offer online or telephone banking, and therefore have limited means for allowing employees to manage finances.

Such situations most commonly lead to low enrollments for your business and as a result you may remain unaware of how a direct  deposit payroll card that provides your employees with more attractivebenefits will have a higher direct deposit enrollment rate.  If yourcompany is using a payroll service provider that offers a directdeposit payroll card, your company may not be capitalizing on the levelof direct deposit enrollment potential possible.

Additionally, as there are certain states that allow a company to require employees to enroll in direct deposit and there are other states that require paper checks remain an option for employee payroll, a company can leverage company policy and new hire documentation to encourage the highest level of employee direct deposit participation possible. New hire policy combined with direct deposit payroll card benefits will dramatically increase your company's participation in direct deposit.
A1 Enterprise ensures that is the case with our VISA payroll debit card by providing a variety of features with VISA payroll card to the card holder. Such features increase the attractiveness of direct deposit and further encourage employees to enroll. To further benefit your company, A1 Enterprise also provides custom payment solutions to businesses seeking ways to reduce the costs of financial transactions such as payroll payments, commission payments, and merchant payments with employees, sales reps, vendors, and suppliers. Throughout the process of your direct deposit payment selection, A1 Enterprise provides documentation as provided by VISA on how to navigate the legal footwork of having your entire company enroll in direct deposit and thereby standard your payment process company wide to one uniform system. The cost savings in a payment standardization can be substantial; in some cases over $175 per employee per year. A company with 1,000 employees and vendors saves an average $175,000 per year.

The most attractive aspects of our VISA payroll card are that it is free for your company, you can get cards with your logo, and your company will recognize accounting cost savings within the first month. If you are looking for ways to reduce accounting and payroll costs, contact ustoday and find out about how we can provide you with a custom VISAdebit card payroll card that can work right along side with yourcurrent payroll service provider.