Implement a Paycard Program
- Paycards are another way to pay employees using electronic means in addition to direct deposit.
- Implementing a paycard program can benefit employees who do not have a bank account that can receive direct deposits.
- Federal paycard laws and regulations generally mirror direct deposit laws, but state paycard laws vary widely from state to state. As a result, employers must comply with both federal and state laws pertaining to paycards.
- Once an employer chooses the type of paycard(s) it would like to offer to its employees, it should follow certain steps in order to effectively implement the paycard program in the workplace.