Implement a Paycard Program: New Task, Chart Added

Author: Rena Pirsos, XpertHR Legal Editor

October 12, 2015

Paying employees via paycards is a relatively new electronic method of wage payment. Because they include most of the benefits of direct deposit without the need for an employee to have a bank account, paycards fill the need for an electronic wage payment alternative to direct deposit for employers that have employees who are either unable or hesitant to obtain a bank account that can accept direct deposits. And like direct deposit, employers must comply with both federal and state laws pertaining to paycards. However, there is much variation among the applicable state laws.

To help an employer comply with federal and state paycard laws, XpertHR has added a new chart covering Paycard Laws by State and Municipality. Also added is Implement a Paycard Program, a new Task to help an employer determine how best to set up a compliant paycard program in the workplace.