paycards

Paycards

PayMetrix HR has teamed up with TFG Solutions to offer our clients the TFG VISA Paycards for their unbanked employees.

What is a Paycard?

The paycard is a payroll debit card that eliminates paper checks. The paycard is funded as a direct deposit transaction through your existing payroll system. No bank account or credit check is required. All of your employees are eligible.

 

Why do I need it?

The paycard allows you to save more by cutting costs in check printing and shipping. For a company that issues paper checks, you can save an average of $13,000 annually.* You will be providing your employees with a safe and secure alternative to access their funds.

 

Why do my employees need it?

All of your unbanked employees can experience the convenience of direct deposit. For your employees, the paycard eliminates the high fees of check cashing. Now they can make purchases and pay bills online, get cash at banks and ATMs, and add a companion card for a family member (including international). You can save on average $260 annually per check issued. Calculation based on issuance of 50 checks.

 

TFG Visa® Pay Card Benefits

  • Allows employer to achieve 100% direct deposit participation
  • Fits with direct deposit as a “checking” account (each card has a routing and account number)
  • Funds arrive at the same time as any other bank account (no separate file or wire transfers)
  • Works with all direct depositors (current employer, tax refund, unemployment, next job, etc.)
  • Every U.S. employee qualifies
  • Helps eliminate lost checks, stop payment fees, check delivery fees, escheatment issues, and check fraud issues
  • Instant issue cards kept onsite with employer for immediate direct deposit setup

cards