Paycor Paycards Add New Layer of Security
Posted on May 12, 2011
Effective May 1, the cards included in Paycard Instant Issue Packs are VISA-branded cards, providing an additional layer of security for your employees.
Paycards are bank accounts in a card. They work like a direct deposit account and are available to all employees, regardless of credit history. The account is an FDIC-insured account and can be used at ATM and point-of-sale (POS) terminals accepting PIN transactions to withdraw cash and make purchases. The account also allows for pre-authorized bill payments.
* Convenient for employer: Allows an employer to be 100% paperless even
if some employees do not have bank accounts
* Convenient for employees: They have 24 hour phone or internet access to account balance. And the card is owned by employee, not employer so it is portable if they leave the company.
* Acts like a bank: Employee’s cards are FDIC insured. They receive a monthly bank statement, and balances are shown at ATM with each withdrawal.
To get additional information on paperless payment options, go to http://www.paycor.com/products/additional-services/payment-options.