Payroll debit cards, also called Paycards, function in the same way as prepaid cards. These electronic prepaid cards provide nifty payroll solutions that can prove immensely beneficial for small businesses having employee strength of 50-500 employees.
Payroll services involving debit cards can provide huge benefits to both the employers as well as the employees of the company. With the assistance of a debit card payroll system, employers can easily send money to the centralized payroll account in the bank handling the entire payroll service. The employees then with the help of their debit cards can collect their salaries from their account.
A well-structured debit card payroll system can contribute heavily in cutting down the overhead costs of the business. As a debit card payroll system works independent of paychecks, it also helps the companies to lower the administrative expenses.
Besides, a debit card payroll service can be a very useful too for the business consisting of overseas employees. With a debit card payroll service, employees working overseas can receive money by visiting the nearest ATM center.
Employees are not required to have bank account in order to receive money. Thus, these cards can prove beneficial for seasonal employees or employees that do not have a bank account.
A payroll debit cards operates in the same manner as a prepaid credit card, such as Visa or MasterCard. Thus payroll debit cards can be used by the employees when shopping.
Employees can also utilize these cards to pay their bills and children’s school fees. Furthermore, they can also make use of these cards to gain tax refunds and security benefits.
Owing to their innate features, payroll debit cards are proving to be highly beneficial not only to the employers but also to the company’s employees. Several small businesses in Singapore, Europe, Brazil and Malaysia have started realizing the benefits of debit card payroll services.
Smaller companies worldwide have reaped immense benefits from payroll debit cards which function similarly as prepaid cards Also published at The Attractive Benefits Of Payroll Debit Cards:.
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ReplyDeletePayroll debit cards or prepaid cards offer huge and attractive benefits than the traditional salary checks. The cards also serve as efficient marketing tools for companies. The debit card help businesses to reduce their administrative costs by eradicating the use of paychecks. Thanks...
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