Direct Deposit Payroll with Paycards

When launching a paycard program for your unbanked workers, you will have to decide how your employer will structure the bank account(s) for the program. Some employers may choose to have their employees' debit cards set up so there is a one-employee-to-one-account relationship. Others may opt for an aggregate or master bank account with sub-accounts established for each employee that are systemically accounted for individually, even though wages of all employees are essentially commingled. You should consult with your payroll card program provider on the options that they have available.

From an employer's perspective, the use of an aggregate/master account for a paycard program will likely cut down on administrative costs as all wages paid to employees using the cards will be sent via one ACH transaction as opposed to multiple transactions with a potential transactional fee associated to each account for each pay period.

Our paycard program when combined with our direct deposit payroll service offer the highest level efficiency for the company. Card holders may enroll online or automatically via another system within the company, and then may get automatically setup to receive direct deposit payments to their paycard. This process eliminates 100% of the manual entry and setup processing time for the employer, while issuing employee paycards in a timely manner.

Click here for more information about our direct deposit paycards or direct deposit payroll service.

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