Most companies encourage100% direct deposit. However, it is not possible because many employees don’t have a bank account. However, payroll debit cards enable the companies to achieve 100% direct deposit participation. Payroll debit cards provide an innovative payment option through which employees can withdraw money even in the absence of savings accounts.

Prepaid cards provide benefit of convenience, safety and prestige to both, the employer and the employee. The prepaid debit card programs either involve a negligible amount of cost or are free for most employers.

The way of functioning of a payroll debit card and a prepaid credit card is similar. Since these cards, pre-loaded with direct deposit, do not allow the employees to spend beyond their account balance, employees can keep a check on their spending. Through these cards, an employer can send money directly from his master account to employees’ account directly. Reduction in unnecessary expenses by cutting down the costs of payroll check processing of employee is possible by using payroll debit card. International money transfers and online transactions can be conducted using these cards.

Your Payroll debit cards service provider takes care of the customer service and money transaction process. These cards minimize the risk of fraud to a great extent.

It is possible for employees to receive money on payday itself. This is possible as money can be sent directly into employees’ accounts with these cards and a monthly statement can be generated to report of the account activity. Prepaid cards can be used in similar way as MasterCard and Visa credit cards. Using these cards, employees can withdraw money or shop in any part of the world.

Many small companies in Singapore, Malaysia, Brazil, Germany and many other countries have benefitted largely from payroll solutions involving debit cards. If you have a small company and want to enhance your business prospects, you should consider implementing debit card payroll services. These cards offer a win-win option to both, the employer and the employees.

Payroll services involving the use of debit card can benefit your business.

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