An employer usually arranges for you to get paid your monthly wages via a payroll card by an electronic transaction. You are then reimbursed via bank transfers and debits from your card account on the agreed salary period. However, your employer may require you to get your wages via a payroll card in some cases. In this case, he has the option of issuing you a payroll card to carry your payroll. To make sure you do not end up with a payroll card issued to another person, check with your payroll supervisor to find out the procedure to cancel your card if you do not want to be reimbursed using it. This may take time but the process will be void once you sign a new payroll card issued by your employer.
Most PayActiv debit cards used by employees are pre-approved. As such, you do not need to go through a tedious procedure of getting approval for the debit card only for it to be declined later when you try to withdraw cash from ATM. Unlike debit cards, the processing of payroll cards is quick. Even if you go for internet based payroll card processing, it will be fast. You are only required to fill in your data and wait for it to get approved.
Payroll card processing at this site also requires lesser paper work and administrative duties. For this reason, many employers also encourage their employees to use online processing for receiving and sending payroll through debit cards. However, you have to know that every company differs in terms of its policies and procedures regarding online processing of payroll cards. Check with your employer whether he would charge you anything for online processing or for atm fees. The atm fees can sometimes be quite expensive, so make sure you get at least one alternative.
If your employer does not prefer one of these options, you may be forced to use your regular bank for receiving your payroll card payments. You can contact your employer and inform him that you want to continue to fund your bank account using your payroll card instead of using your debit card. He may then grant you permission for you bank to continue to process your payments as usual. This is the easiest and most convenient way for you since your employer has already taken care of the processing part.
For those who prefer paper check over cards, there is still an option for you. You can always load your payroll card with money and allow your employer to deposit the amount into your bank account. Then you can use the funds for your needs such as paying bills, paying rent, groceries, and even for traveling. There are times when you cannot use these cards due to certain reasons like insufficient cash in your bank account. In such cases, you may opt to use a reloadable debit card instead.
The difference between debit and reloadable debit cards is the amount of money deposited to your bank account. With debit cards, you have to load the funds immediately upon purchase or withdrawal. If you do not have this option, you have to wait until the end of your pay day to complete your purchases or withdraw money. With a reloadable debit card, you do not need to wait for the whole period of time mentioned above. It can easily be replaced if your account is emptied or the funds are not sufficient any more. Know more about finance at https://www.huffingtonpost.com/section/business