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Pay Card

Payroll card solutions: a 21st-century alternative to paper checks.

Payroll cards give your employees faster access to their earnings. They’re a convenient alternative to payroll checks, allowing workers to skip long lines at banks or grocery stores and avoid the high fees charged by check-cashing stores. National PEO’s payroll card program uses time-tested systems — direct deposit and ATMs — to give employees easy access to their pay.

Why your payroll solutions should include pay cards

Even though depositing a paper check works for many employees, some of your workers need quicker access to their money. Instead of giving them no option but to use their high-interest credit cards or go to a check-cashing store, offer pay cards for employees instead.

With a payroll card, you can electronically deposit your employees’ funds into their payroll card accounts every pay period. They can withdraw cash at ATMs or use the pay card at a store much like they’d use a credit or debit card. Your employees don’t need bank accounts to use their payroll cards, and they don’t have to worry about lost or stolen paychecks.

National PEO’s payroll card, offered in partnership with Bank of America, lets your employees access their pay at any time. They can review their pay card accounts online or over the phone, and they receive free Money Network checks to use along with their payroll cards.

How payroll cards for employees work

The Bank of America CashPay Visa card is not a credit card that charges interest rates. Employees can’t charge purchases to their CashPay accounts and pay them off later. Your workers never have to submit to a credit check to sign up for a CashPay card; they don’t even have to have a bank account, making this service that much more convenient for employees.

In day-to-day life, the payroll card works much like the prepaid credit cards that you’d give someone as a gift. Instead of giving your employee a paper check, your employee will receive a Bank of America CashPay Visa card. Every payday, their wages, minus payroll taxes, 401ks, etc., are deposited into their CashPay accounts. They can only spend as much money as they have in their balance, and they’re not charged interest for their purchases. Payroll cards offer many advantages over paper checks, including:

Your employees can make purchases with their CashPay cards at any location that accepts Visa. They can also access Bank of America’s extensive network of ATMs or use Cirrus, Maestro, and Interlink locations to withdraw up to $1,000 per day. Funds become available at 9 a.m. every payday. When employees request to receive their paychecks via pay cards, they receive their cards within five to seven business days. Also, the cards offer the protections and conveniences of a debit card, including a PIN number for security and cash back at many point-of-sale terminals.
CashPay cards have all of the protections offered to Visa and Bank of America customers. Bank of America’s Zero Liability policy helps protect employees from fraudulent transactions if a payroll card gets lost or stolen. Additionally, they enhance your employees’ personal security by ensuring that they don’t have to walk around carrying large amounts of cash. Like bank accounts, CashPay payroll cards are FDIC-insured.

Instead of losing as much as 15 percent of their paycheck to a check-cashing store, your employees can use their entire paychecks to meet their financial goals. Also, instead of walking around with their entire week’s pay in their pockets, they only withdraw as much cash as they need, and only when they need it. CashPay accounts are in the employee’s name only, so employees don’t have to deposit their checks into joint bank accounts.

Your employees can check their card balances 24 hours a day, 7 days a week by using Bank of America’s website or phone banking services. If their cards are lost or stolen, Bank of America customer service representatives will provide immediate assistance. Also, if your employees find new jobs, they can keep their CashPay accounts. If their new employers offer payroll card services, they can continue to receive their paychecks in the same CashPay account and use the same pay card.

Getting started

National PEO’s payroll solutions make payroll simple, quick, and convenient. You can submit your payroll online, via email, or over the phone, and we’ll take care of payroll administration for you. We offer multiple ways for your employees to get paid, including check, direct deposit, and payroll card. We make it easy for employees to sign up for pay cards, and we help them through every step of the process.

If you’re already a National PEO client, talk to us about making payroll cards for employees something that you provide for your workers. To learn more about the services we offer or to request a free quote, call us or fill out our Web form today.

National PEO is proud to offer PayCards to all of our employees. The PayCard program uses time-tested systems — direct deposit and ATM’s — to allow employees easy access to their pay.

Instead of cashing their paychecks at expensive check-cashing stores, employees’ funds are electronically deposited into their PayCard accounts every pay period. The PayCard lets employees access their pay at any time, letting them avoid long lines and costly check-cashing fees.

The benefits of PayCard

Sound too good to be true? It’s not. Just fill out the enrollment form and fax it back to National PEO at 480.945.1525. We’ll take care of the rest.