Direct deposit benefits employees and employers. Employees avoid trips to the bank and have immediate access to their money. Employers avoid having to hand write or print checks manually, saving valuable time.
941 Payroll has partnered with ReadyFUND$ Payroll Cards to give businesses the opportunity to go green with their payroll.
A paycard is a prepaid debit card that provides employees their own “bank on a card” for easy and convenient access to desired financial services.
Employer Benefits of ReadyFUND$ Prepaid Debit Cards
- Offer direct deposit to 100% of employees
- Cost savings over paper check production and distribution
- Employers focus on running business on payday instead of distribution of pay
- Employees spend less time lost on errands to cash checks, get money orders and pay bills
- Improved morale and retention of satisfied employees – faster access to pay
- Can be used to deliver termination pay, expense reimbursement, incentives and even distribution of pay for employees in areas impacted by natural disaster.
Employee Benefits include:
- Immediate access to pay and one free transaction per payroll
- Convenience of purchasing with MasterCard branded payment card
- Better control and record keeping (checking account without the risk of overdrafts)
- Better value than non-bank alternatives — less expensive and more secure (If the card is lost or stolen, the funds are not.)
- Emergency cash feature
- Funds FDIC insured up to $250,000
- Convenient access to card balances and transaction activity
- Automated telephone IVR & 24/7 CSR
- Secure cardholder web portal
- Event driven text messages