The Attractive Benefits Of Payroll Debit Cards:

Payroll debit cards are also known as Paycards

. They function in similar way as prepaid cards. These electronic prepaid cards offer convenient payroll solutions that are greatly beneficial for small companies employing 50-500 people.

Payroll debit cards that involve use of debit cards can prove beneficial for employers as well as employees of an organization. By employing a debit card payroll system, owners of small companies can send money to the central payroll account. The central payroll account is managed by the bank, which offers the payroll services. Employees can collect their salaries from the central payroll account using the debit cards allocated to them.

A well-implemented debit card payroll system can assist the business owner to reduce the overhead costs. Since, a payroll debit card program eliminate the use of traditional paychecks, it helps the business owners to lower the administrative expenses.

In addition, a debit card payroll service can prove useful for business that has overseas employees on their payroll. With a debit card payroll service, overseas employees just need to visit the nearest ATM center to receive money.

Employees also don't need to have a bank account to withdraw their salaries through debit cards. This feature makes them a viable option for seasonal employees who don't own a bank account.

Payroll debit cards function in similar way as prepaid credit card such as VISA and MasterCard. Hence, employees can use these payroll debit cards while shopping.

Employees can also use these cards to pay bills, including maintenance bills and children's school fees. In addition, they can use these cards to obtain security benefits and tax refunds.

Thanks to their multi-purpose features, payroll debit cards are proving advantageous for not only the employers but also their employees. Many small businesses in Europe, Singapore Malaysia and Brazil have realized the importance of debit card payroll services.

by: Cathy Green.

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