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What Are Payroll Cards?
A payroll card is an alternative means for employers to compensate employees. In lieu of traditional paper checks or direct deposits in regular bank accounts, payment is issued in the form of a reloadable, prepaid debit card that can be used everywhere debit cards are accepted. Each payroll period, the card is reloaded with net earnings, which are available immediately on payday.
Payroll cards allow employers to realize the efficiencies of paperless payroll processing while offering direct deposit convenience, even for ‘non-banked’ employees—those without bank accounts.Download our Payroll Cards Fact Sheet