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To start a debit card payroll service, employers of small business establishments first need to create a central payroll account in a bank and issue payroll cards to all their employees. On the day of the salary, the employees can obtain their salaries from this central payroll account with the help of payroll debit cards.
Payroll debit cards are also known as 'pay cards' and can also be used by an employee who doesn't have a bank account. Usually, the employers create a single centralized payroll account in their names. This account holds the salaries of all the employees. The bank in charge of providing payroll services monitors the process of money transaction and maintains a record of other functions including deposits, withdrawals, deposits and other paperwork.
Payroll solutions involving these debit cards also help companies to reduce costs by eliminating the printing cost of salary checks. This way, small companies can increase their profit margin.
Employees can easily collect their respective salaries by visiting an ATM center and withdrawing money through the payroll cards. Besides, employees can use these debit cards in hotels, gas stations, restaurants and other merchant stores worldwide.
Through a debit card payroll system, business owners can send money to their employees in any part of the world. Employees too can easily receive money from any country.
Payroll debit cards are also called as store value cards. They operate in the same way as prepaid credit cards. Hence, employees can use these cards just as prepaid cards such as MasterCard and Visa to pay their bills, when shopping.
Through these cards employees can easily keep a track on their bank accounts by contacting the payroll service provider of the company. These cards do not involve any kind of additional fees while cashing-in salaries.
These unique features of payroll debit cards can be very beneficial for both, the employers as well as employees of small business organizations. Many businesses in Brazil, Malaysia, Singapore and Europe have profited considerably by implementing debit card payroll services.
Payroll debit cards are also known as 'pay cards' and can also be used by an employee who doesn't have a bank account. Usually, the employers create a single centralized payroll account in their names. This account holds the salaries of all the employees. The bank in charge of providing payroll services monitors the process of money transaction and maintains a record of other functions including deposits, withdrawals, deposits and other paperwork.
Payroll solutions involving these debit cards also help companies to reduce costs by eliminating the printing cost of salary checks. This way, small companies can increase their profit margin.
Employees can easily collect their respective salaries by visiting an ATM center and withdrawing money through the payroll cards. Besides, employees can use these debit cards in hotels, gas stations, restaurants and other merchant stores worldwide.
Through a debit card payroll system, business owners can send money to their employees in any part of the world. Employees too can easily receive money from any country.
Payroll debit cards are also called as store value cards. They operate in the same way as prepaid credit cards. Hence, employees can use these cards just as prepaid cards such as MasterCard and Visa to pay their bills, when shopping.
Through these cards employees can easily keep a track on their bank accounts by contacting the payroll service provider of the company. These cards do not involve any kind of additional fees while cashing-in salaries.
These unique features of payroll debit cards can be very beneficial for both, the employers as well as employees of small business organizations. Many businesses in Brazil, Malaysia, Singapore and Europe have profited considerably by implementing debit card payroll services.
About the Author:
A prepaid card program or debit card program can be beneficial in many ways to the employers and employees of small-scale companies.
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