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Sponsored by Lorman Education
Product ID: 407477EAU
 
Credit & Course Provided by:

Payroll Cards: Today, Tomorrow and the Future

OnDemand Webinar (86 minutes)

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 cost-effective 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 win-win scenario.

Authors

Tricia Richardson, CPP, SPHR, SHRM-SCP, Purposed Payroll Professional

Agenda

Overview of Payroll Cards

• Defining Paycards

• When to Use Paycards

• How to Use Paycards

How and Why to Use Payroll Cards

• On-Demand Pay With Paycards

• Advantages of Paycard Use

• Requiring Paycard Use

Guidelines and Compliance With Payroll Cards

• Federal Paycard Regulations

• State Paycard Regulations

• Banking Regulations

Payroll Cards Best Practices

• Choosing the Right Paycard for Your Company

• Policies and Procedures for the Use of Paycards

• Communicating Paycard Opportunities to Employees