At Adaptive Prepaid Consulting it is our goal to help your company select, configure and implement a payroll debit card program that complements your direct deposit process so that you can achieve 100% electronic pay.
Prepaid payroll debit cards have become a critical part of many company’s efforts to reduce expenses associated with check printing and distribution as well as to reduce the administrative burden associated with lost checks, check fraud and escheatment.
Listed below are a few of the many advantages you and your employees will experience by replacing your paper payroll checks with electronic payments to payroll debit cards.
- Works just like direct deposit. Each payroll card has a unique RTN and Account number so payments can be made just as you would to a personal checking account.
- Payments can be sent via standard ACH processing and in many cases can be sent immediately via a web-based interface.
- All your employees qualify as no credit check or bank account is required.
- Reduces your administrative costs of producing, distributing and managing off-cycle checks.
- Allows employees to receive their full pay without fees and without the need to visit check cashing institutions.
- Employees receive their pay when they are not at work, when on vacation, or in the event of a natural disaster.
- Gives your employees the flexibility to pay bills, get cash and make purchases without paying fees.
Program Selection
Selecting the correct payroll card provider is the single-most important factor in ensuring that your program is successful. Are your payroll activities centralized or geographically distributed? Are there an adequate number of banks and fee-free ATM's located near your work sites? Is custom branding important to your organization? Do your employees have access to the internet at home or at their work site locations? Adaptive Prepaid will develop a customized Request for Proposal (RFP) for your company that ensures you have the information you need to select the provider that most closely matches your existing business processes.
Program Configuration
Once the best provider has been selected, it is important to configure the program so that it operates efficiently within your organization. Administrative and employee-facing web sites must be set up, administrative roles and responsibilities defined and communicated, instant funding escrow accounts may need to be set up and procedures will need to be created so that each new hire and each current employee is set up with electronic pay successfully. Adaptive Prepaid can draw upon many years of client service and operational experience to ensure that your prepaid program is optimally configured for your existing organizational structure.
Program Implementation
Finally, once all the pieces are in place, a detailed implementation plan must be created and followed to ensure that your program is up and running in a timely manner and without unexpected setbacks. Adaptive Prepaid will assist you in building a clear implementation plan that includes company-wide communication to employees, setting up an open enrollment timetable for selecting electronic pay, educating employees on how to use their cards without paying fees and advising you about setting up disincentives for continuing to receive a paper paycheck.
To receive a free payroll debit card savings calculator or if you have any questions about our services, click on the Contact Us tab and send us your request. We will respond promptly.
