Payroll paycards – debit cards to which employees’ pay is deposited – are becoming more and more common. They are ideal for employees who do not have a bank account. Paycards can be used at participating ATMs to withdraw cash and can be easily used in retail establishments to make purchases. Payroll paycards eliminate the need for employees to cash a paycheck in order to have access to their wages.
If your company is contemplating a move to the paycard system, you will want to make an informed decision. Along with benefits, there are some drawbacks that come with the use of payroll paycards. There are also are rules and regulations, which vary from state to state, that must be followed.
This interactive 90-minute webinar, presented by payroll consultant Mark Schwartz, covers the why’s, how’s, and regulatory issues regarding paycards. Mr. Schwartz will provide information about paycard providers, so you can make an informed decision on choosing the right one for your company.
Areas Covered in the Session :
- What is a paycard and what are the benefits to an employer and its employees by using paycards
- The different types of paycards, paycard providers and how the cards work
- The potential downside of using paycards
- Current state legislation that promotes or hinders the use of paycards
- Whether an employer can mandate the use of paycards for its workforce
- What you do if you are a multi-state employer and you want to launch a program for your entire worker population
- How to roll out a paycard system to your employees
Who Will Benefit:
- Payroll Department
- Accounting Department
- HR Department
- Small to Medium Sized Business Owners
- Payroll Apprentices
- Start up Entrepreneurs