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Sage Payroll Paycard Feature Sheet
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Help employees keep more of each paycheck with
Sage Payroll PayCard.
Did you know that American families pay over $10 billion per year in check cashing fees? Check cashing and money orders may take a big chunk out of your employees' take-home pay. Sage Payroll PayCard can eliminate those costs for your workers - and reduce your company's overall payroll expenses!
If some of your employees do not have bank accounts, they probably lose hundreds of dollars each year on financial services. An unbanked employee can pay as much as 3% to cash a weekly paycheck. Even if employees use low cost retailers for check cashing (averaging $3 per check), they still lose $156 per year. Without a checking account, your employee also needs to purchase money orders to pay his bills, at a cost of $2-10 each.
Sage Payroll PayCard empowers your employees to take control of
their finances.
Each payday, employees' pay is loaded easily onto their Sage Payroll Paycard.
Employees will never again need to leave work early to pick up a check - or
cash it. The Sage Payroll PayCard works like a debit-card, allowing
employees to access their funds 24/7 at ATM machines and banks. They can
make purchases anywhere that accepts VisaŽ and pay bills online. Sage
Payroll PayCard is safer and more secure than cash. A lost or stolen card
can be replaced in as little as 24 hours and funds are protected against
theft by Visa's zero liability provisions.
Reduce your company's payroll expenses.
In addition to providing employees with a valuable benefit, your company can
reduce payroll expenses with Sage Payroll PayCard. You'll save $1-2 for
every paper paycheck that you replace with electronic payment. (1) When you
add in additional expenses such as check distribution, lost productivity
(when workers leave early to cash paychecks), and replacement of lost or
stolen checks, your savings can add up to $10-12 per employee paycheck.