Description
Learn the information you need to choose and implement a paycard program and ensure compliance with any federal, state or banking requirements.When employees are unable, or unwilling, to use direct deposit for their compensation, a live check is provided. Live checks are not a costeffective way to pay employees but, for some employees, a brick and mortar bank may not be an option. Businesses experience the administrative burden of voiding and reissuing lost checks, the costs of check printing and processing, and processing outstanding checks per state escheatment requirements. When providing employees with paycards, businesses avoid reissuing lost or damaged checks, the banking and supply costs of live payroll checks and managing uncashed check concerns with escheats. Businesses can reduce costs associated with live checks and use paycards in many different ways to benefit employees. This topic will provide businesses with the information they need to choose and implement a paycard program, communicate the benefits of the use of a paycard and ensure compliance with any federal, state or banking requirements. Utilizing and implementing a paycard program at your organization is a winwin scenario.
Date: 2021-01-08 Start Time: End Time:
Learning Objectives