Paycards vs Paychecks

Paycards vs Paychecks

Save your organization money by streamlining the payroll process, eliminating the paper check risk associated with lost and stolen checks.  Best of all, we offer a FREE program for employers to help move your organization to direct deposit.  There are no set up costs, no software to buy or learn, no card cost, and no minimum number of employees to enroll.  It's a new way to pay and it's fast and easy to implement.

For the millions of workers who don’t have bank accounts, our payroll card program provides you and your employees the ability to never have to handle a paper check again.

Let us help you mandate direct deposit 

We can help you customize a program to meet state regulations and the needs of your employees, independent contractors and union members.

Our full deployment program meets state regulations:

  • No Monthly Fee
  • 1-Free Teller Withdrawal per Pay Period (true pay to the penny compliance)
  • Toll Free Balance given automatically when calling the number on the back of the card
  • See full schedule of cardholder fees by completing the employer inquiry form

Card Benefits

A payroll solution that is simple to implement for any size business.

Seamless Integration: Each card has a routing number and account number that works with your existing Direct Deposit program

  • We provide dedicated card services to your organization, your employees and your current Direct Deposit program or payroll provider.

Every Legal US Resident Qualifies: All employees - banked, unbanked and credit challenged are eligible for the PayCard.

  • No Age Limit! Great for employers who hire high school students part time. 
  • All U.S. residents with a valid social security number or tax ID are eligible for the Platinum Pay Visa Card.
  • No credit checks are performed.  No credit reporting is submitted.
  • A simple enrollment is all that is required.

Employer Savings: The American Payroll Association estimates the cost of issuing payroll checks between $2.00 to $10.00 per check.   Fund paycards through a routing and account number utilizing your existing ACH Direct Deposit program or establish a funding account for instant transfers, cutting the costs dramatically. 

  • Eliminate check fraud. 
  • Eliminate the expense of buying checks, envelops and postage. 
  • Eliminate tracking of unclaimed funds (payroll checks not cashed/received). 
  • Eliminate lost/stolen check replacement.
  • NO per card costs when the card is funded within 45 days of issue.

 Increased Productivity:  

  • More productivity – frees management staff from handing out checks while employees don’t need to leave work early to get checks cashed.
  • Use the Paycard to manage employee expense.

Security:

  • Employers financial information on issued checks is eliminated. 
  • Eliminates Check Fraud.

Disaster Preparedness:

  • Eliminates the need for physical delivery of pay, since pay is distributed through your current ACH direct deposit system. 

Customer Service Support:

  • A personal point of contact to provide ongoing support to our employer clients.
  • Personal welcome call to cardholder upon card activation. 
  • Routing and account numbers never change. If a card is lost or stolen, the employee orders their new paycard and your payroll department does not need to be involved.

PayCard Implementation Ideas:

  • Pilot Program: Hand select a team of employees to use the card (payroll department, plant supervisors, laborers, etc.) 
  • 100% Direct Deposit Initiative meeting pay without discount rules. 
  • New Employee Enrollment: offer the PayCard in your New Hire kit. 
  • Expense card: non-payroll payments can be mandated “Direct Deposit” – expenses reports, section 125, etc. via the paycard
  • Money Management Tool: employees can order a paycard for family members and share money with relatives / children / students.

 

The TFG Visa Payroll Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Bancorp Bank; Member FDIC. TFG Card Solutions, Inc. is an ISO pursuant to an agreement with The Bancorp Bank. © 2013 Visa All Rights Reserved.

Quick Facts
  • Yes, you can mandate direct deposit and comply with "pay without discount" regulations. Our full deployment program meets state regulations.
  • Yes, we can provide you an instant issue card program.  You can issue this card immediately to new hires or for lost or stolen cards or for employee terminations. 
  • Yes, you can control your enrollment process.  We can provide you a log in and password to our enrollment system. 
  • Yes, you can start a funding account and instantly transfer money to your employees.
  • Yes, you can emboss your company name on the card for free.
  • Yes, you can use the paycard program to pay employee expenses.
  • Yes, the TFG Visa card will support your disaster recovery plans.

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