Cashing fees eat up 2 to 3% of a check's face value. For an employee earning $30,000 per year, that translates to around $900 in lost wages.
Transferring $100 to someone on line using one of the major money wiring companies costs about $20.
put an end to payroll headaches for you and remove your employees' fears of losing money
It costs time and money to issue paper checks, resources better spent elsewhere. And then there's the threat of fraud and hassles with uncollected checks. Our PayCard product changes all that by revolutionizing payroll distribution. Using your existing ACH process, you'll deposit directly into your employee's PayCard wallet.
Your employees, especially the un-banked, lose a significant chunk of their pay to check-cashing operations or to money transfer companies when they send money to family or dependents. Even those who have bank accounts find the PayCard to be a real benefit, using it for college students, budgeting, avoiding bounced check charges, and a host of other convenient purposes.
Through the SecureBenefits™ Card, employees have instant access to their pay at ATMs and retail merchant locations, and can immediately transfer money.
Check around: Allegis Technologies provides the lowest-cost, easy-to-implement, turnkey PayCard program with full end-to-end support. Contact us today for an information kit and treat your company to a smarter way to meet payroll obligations while giving some of your employees a "no-cost raise."