There are many benefits for companies today to use payroll debit cards to pay their staff. Believe it or not, much of the population still has no bank account, and writing out checks for each staff member each month is becoming too expensive for the vast majority of businesses who work that way. With a payroll card system in place, a debit card is assigned to each staff member; his salary will be put on the debit card each month - making it faster and easier for those who handle paying the staff. No more worrying over checks or electronic bank transfers, and the transaction is complete within minutes. If a mistake needs to be resolved or a payment reversed, the process will also be much faster using a payroll debit card.
One of the greatest benefits to using a payroll debit card is greater financial protection for the staff. It's no longer wise or safe to carry around a significant amount of cash, and with a payroll card, it's now unnecessary. If one of your employee's cards was to be taken, all isn't lost because the card can be immediately canceled and replaced with a brand new card. In addition, a bad credit history won't even be a factor when deciding whether or not a staff member is permitted to have a payroll card. All of this will result in a faster and simpler payroll system that will give employees who handle the payroll much more time to handle other financial matters for the company.
What employers are going to find is that a payroll debit card is a cost saving tool as well. Most people don't realize how costly direct deposits can be. However, what you are going to find is that by using a company like BITTS Payroll, you can drastically reduce your operating costs which will leave more money for your company to spend on the things you need. In fact, you are going to find that with a customer service department that is open twenty-four hours a day, there will be little need to worry about not being able to get in touch with someone.
One of the dangers you're opening your company up to when you write salary checks is theft - not necessarily by strangers but regrettably by your own staff. Now while all business owners would like to say that they trust their employees one hundred percent, the truth is the world isn't perfect, and there's really no way you can possibly know each staff member well enough to trust them with power over your company's accounts. Additionally, if some type of discrepancy were to occur when paying an employee in cash, there usually aren't adequate records to prove it and rectify the problem. However, when a payroll card is used, every payment can be easily looked over and verified if the need arises.
Another drawback to paying your employees in cash is the dangerous position the location of the cash is put in before pay day - whether that's your residence or your agency building where a burglary can easily take place. A bank, on the other hand, is a much safer place for your staff members' salaries to be stored, and this would be the case with a payroll debit card system in pace. Because PIN numbers must be used to access the money, a staff members' money is kept much more protected than with a check or cash. Besides all of the security assets, a payroll debit card can also provide a lot of convenience for staff members because it prevents them from having to cash checks, write out new checks to pay bills, etc. With a payroll card, your employees will be able to pay their bills and make their purchases directly from the card itself. Because of the way these cards can save your company time, money and inconvenience, the implementation of a payroll card system should be looked at to improve overall efficiency.
One of the greatest benefits to using a payroll debit card is greater financial protection for the staff. It's no longer wise or safe to carry around a significant amount of cash, and with a payroll card, it's now unnecessary. If one of your employee's cards was to be taken, all isn't lost because the card can be immediately canceled and replaced with a brand new card. In addition, a bad credit history won't even be a factor when deciding whether or not a staff member is permitted to have a payroll card. All of this will result in a faster and simpler payroll system that will give employees who handle the payroll much more time to handle other financial matters for the company.
What employers are going to find is that a payroll debit card is a cost saving tool as well. Most people don't realize how costly direct deposits can be. However, what you are going to find is that by using a company like BITTS Payroll, you can drastically reduce your operating costs which will leave more money for your company to spend on the things you need. In fact, you are going to find that with a customer service department that is open twenty-four hours a day, there will be little need to worry about not being able to get in touch with someone.
One of the dangers you're opening your company up to when you write salary checks is theft - not necessarily by strangers but regrettably by your own staff. Now while all business owners would like to say that they trust their employees one hundred percent, the truth is the world isn't perfect, and there's really no way you can possibly know each staff member well enough to trust them with power over your company's accounts. Additionally, if some type of discrepancy were to occur when paying an employee in cash, there usually aren't adequate records to prove it and rectify the problem. However, when a payroll card is used, every payment can be easily looked over and verified if the need arises.
Another drawback to paying your employees in cash is the dangerous position the location of the cash is put in before pay day - whether that's your residence or your agency building where a burglary can easily take place. A bank, on the other hand, is a much safer place for your staff members' salaries to be stored, and this would be the case with a payroll debit card system in pace. Because PIN numbers must be used to access the money, a staff members' money is kept much more protected than with a check or cash. Besides all of the security assets, a payroll debit card can also provide a lot of convenience for staff members because it prevents them from having to cash checks, write out new checks to pay bills, etc. With a payroll card, your employees will be able to pay their bills and make their purchases directly from the card itself. Because of the way these cards can save your company time, money and inconvenience, the implementation of a payroll card system should be looked at to improve overall efficiency.
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Learn more about Alternative to Cash Salaries. Stop by Bitts's site where you can find out all about Payroll Debit Cards and what it can do for you.
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