Payroll Cards
PayCard
Simplify the way you distribute payroll funds and provide 100% of your employees with the benefit of direct deposit.
Both you and your employees save valuable time and money by eliminating paper paychecks. Employers save time and the costs associated with issuing checks. Consider paper, postage, processing fees, lost check replacement, and fraud. It all adds up. And chances are you already have what you need to get started. Simply use your existing direct deposit process and Elan manages the rest - from card issuing to transaction processing to 24/7 customer service - with no third parties in between.
Employees eliminate the hassle of paper checks and save money. Employees who cash their paychecks typically wait in long lines and pay a fee every time they cash a check. With the PayCard, employees do not pay fees to have their money loaded to the card and there are no fees when using the card to make purchases. The PayCard can be used wherever Visa® or MasterCard® debit cards are accepted.
- Paper check costs like postage, check replacement, fraud, etc. are eliminated
- Program uses existing payroll direct deposit process. No special requirements for start up.
- Allows employer to have 100% electronic payroll
- Offers employees a low-cost meaningful benefit
- Employer enjoys fully-managed, turnkey set-up and enrollment, as well as 24/7 program support
- Pay is immediately available on payday
- Check cashing fees and money transfer costs can be eliminated
- Purchases can be made anywhere Visa or MasterCard debit cards are accepted, including online purchases or paying bills
- Cash access is available at ATMs worldwide, by getting cash back at retailers or at any Visa or MasterCard-member bank or credit union.
- Multiple funding sources like other employers, government agencies, or tax refunds are accepted
- PayCard can be replaced if lost or stolen and value restored
- Funds are FDIC insured
