INTERNATIONAL PAYROLL DEBIT CARD INFORMATION
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The Loyal Bank International Debit Card and International ATM Card COMBINE the Acceptability, Convenience & Buying Power of a Credit Card with the Flexibility of a Debit Card to Control Your Spending.
PAYROLL CARD -BACK GROUND AND BENEFITS
A payroll card is a card that allows you to access the money from your
paycheck using a card that looks like a bank debit card. The money is held in an
account, and you withdraw it or spend it by using the card. A payroll card can
be more convenient than using a check casher, because you can make ATM
withdrawals and use the card to buy things. Some payroll cards also are cheaper
than a check casher, but others are not. You will usually have to pay a fee if
you use the card at an ATM more than once per pay period. You may have to pay
other fees.
A payroll card is not the same as having your own bank account.
The payroll card account usually is held as a single account in the name of your
employer. That account holds the payroll funds for you and all of the other
employees using the payroll card. Some payroll card programs establish a
separate account for each employee, but others do not.
Employers choose payroll cards partly because it saves them the cost and
inconvenience of distributing paper checks.
Retail Debit cards and Payroll Debit cards have
proven to be an effective means of transferring funds efficiently and
inexpensively. With millions of ATMs worldwide accepting our platform,
cardholders can enjoy access to their funds in real-time, anywhere in the
world.
Debit cards eliminate the need to mail checks overseas, and avoid any
delays in clearing checks internationally. Funds can be retrieved at any ATM
that supports the Star or Plus networks.
In
addition to quick access to funds, FES’s Loyal Bank cardholders avoid the cost
of using an exchange service or check cashing service. All international
currency exchanges are done at the official bank rate (as published by the Wall
Street Journal or Economist.com) and not at the discretion of a local agency.
The electronic nature of debit cards eliminate mail or overnight shipping
charges that can amount to thousands, if not millions of dollars a year. IPS saved one firm with over nine-thousand
employees world-wide over $280,000 in overnight shipping during 2005. This
does not include the cost of the check printing or processing fees saved by the
company, which the American Payroll
Association pegs at over $2.50 per check.
Distributions can be made directly to the cards through an ACH transfer
(identical to a direct-deposit distribution), or via a bulk payment. In fact,
our unique ABA routing number allows direct selling companies to use the same
process for paying distributors as employees that receive direct-deposit. Each
card has the ABA routing number and a card-specific account number. No
additional setup or system change is required.
Additionally, FES’s Loyal Bank understands that brand loyalty is a key to
success in the direct selling industry. We
offer a number of value-added services to customers, including:
- Custom-Branded Cards (Your Company’s Logo on the front)
- Customized Website and phone-prompts for balance retrieval
- Companion cards that allow card to card transfers
- Private networks for product orders
- Multi-lingual or language specific cards, literature, training, and a 24/7/365 customer service staff
FES’s Loyal Bank and your company can become partners in creating an efficient, and optimized, funds distribution process.
First e-Solutions is looking for individuals and companies that have a desire to enjoy higher earnings through referrals or by selling our stored-value payroll card. If you or your organization has access to large numbers of un-banked employees, this is a great opportunity for you. We are looking for:
Payroll Service Companies
A payroll card serves as an additional product offering that increases their customer’s direct deposit participation. This reduces internal costs associated with printing and delivering paper checks.
Check Cashing Stores
Check cashing stores can use our cards as an electronic means to replace cash-on-hand situations, thus reducing the proclivity for internal theft, and exorbitant insurance costs. By having the ability to electronically load advances onto a secured card, there is a lower risk for the store based on the lack of cash held at the counter.
Check Cashing Stores
Check cashing stores can use our cards as an electronic means to replace cash-on-hand situations, thus reducing the proclivity for internal theft, and exorbitant insurance costs. By having the ability to electronically load advances onto a secured card, there is a lower risk for the store based on the lack of cash held at the counter.
Check Cashing Stores
Check cashing stores can use our cards as an electronic means to replace cash-on-hand situations, thus reducing the proclivity for internal theft, and exorbitant insurance costs. By having the ability to electronically load advances onto a secured card, there is a lower risk for the store based on the lack of cash held at the counter.
Finance Companies
These companies can issue loans via a payroll card to customers, as opposed to paying the costs of printing and issuing paper checks. A secured card also provides a debt collection service, since direct deposits to a customer’s card can be monitored closely.
Staffing Services
A secured debit card is the perfect tool for paying all full-time and temporary un-banked employees, without the stress of ensuring checks are delivered, and without the financial strain caused by mailing checks to multiple locations.
For more information, please call First e-solutions at (954) 283-8539 or write to: moreinfo@firstesolutinos.com