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What Can Paycards Do for You?

Posted:   July 01, 2011

If you haven’t realized it already, our culture has shifted into the green movement. We are looking for the best ways to reduce our carbon footprint and energy. Today, 674 million gallons of fuel are being used to produce paper checks along with over 3.5 million tons of CO? being released in the atmosphere. We are buying electric cars and conserving our water. Now it’s time for the payroll department to do its part. How? By implementing a paycard solution and eliminating the use of paper checks. Paper checks are time consuming and a security risk if they are lost or stolen. A paycard eliminates the increasing costs of overnight shipping for paper checks. The employer will be able to save on various fees that come with paper checks. These include:

  • Check processing and check clearing
  • Storage and archiving costs
  • Paper costs
  • Time preparation
  • Payroll preparation
  • Printing and envelope stuffing costs
  • Stop payment fees
  • Costs of managing uncashed checks
What about the employees? Unbanked employees can avoid those long lines at the check cashing stores. Get quick access to your money with the same security as a bank. With a paycard account cardholders can go online to view their statements and balance. No need to mail paystubs when employees can view their balance at any time. Text alerts are also available to see when your funds are running low. Times have changed – more and more employees are choosing direct deposit. But now it’s time to help those who are unbanked. Paycards are the answer. Click here to find more information about paycards. Contact SOLE Financial with Lindsay Wilson, lindsay.wilson@solepaycard.com.