What is a Payroll Debit Card?
Kittrell Paycard, founded in September 2005, by staffing industry veteran Mary Kittrell-Kinkaid, distributes debit card programs designed specifically for staffing agencies and their temporary employees. Using a Paycard program can save temporary staffing companies and their temporary employees both time and money. Kittrell Paycard’s programs offer instant issue branded cards, which are FDIC insured bank accounts, allowing employers with high turnover, a flexible workforce, and a diverse workforce the ability to pay 100% paperless.
Approximately 25% of individuals do not have a personal bank account to use when depositing their paycheck. These employees spend an average of 5% of their paycheck simply cashing each check. Offering a payroll debit card program gives employees immediate access to their deposited funds, no longer depending on the delivery of a manual paycheck. Employees are empowered to keep their cash in a safe place as well as given options to make retail purchases, internet purchases, pay bills, reload additional cash onto their payroll debit cards, and set aside money in their complimentary rainy day account attached to the same card. Employers save anywhere from $2.87 to $3.15 per payment by using Direct Deposit rather than paper checks. That savings translates to nearly $19,000 a year for a company with 100 employees, and $5.7 million per year for an organization of 30,000 according to NACHA, AFP, APA Electronic Payroll Coalition. Additional savings are realized through shipping, delivery, and productivity issues related to payroll check distribution. Fraud due to forgeries and cashing incorrect checks is virtually non-existent with the elimination of the paper check.
The win-win for both employer and employee make Kittrell Paycard’s debit card program the right decision. Kittrell Paycard enjoys business partnerships with staffing firms throughout the country. Not only is implementation a breeze, there is no cost to the employer. Please contact Mary directly at (214) 692-0375 or email firstname.lastname@example.org.