More employers are increasingly looking for ways to reduce their costs and the ChxStub Pay Card Program will provide that benefit at no charge while saving the company money.
The elimination of paper paychecks is one opportunity for cost reduction since many employers have employees that do not have the traditional banking relationships that are needed for direct deposit.
The combination of these facts are driving employers to provide their “unbanked” employees with the many benefits of pay cards, while at the same time, reducing their internal payroll and administrative costs.
Payroll cards are a cost effective alternative to printing, cutting, and mailing paper payroll checks. The ChxStub Payroll Card is loaded with the value of the employee’s wages every pay period, allowing the cardholder to use the card at any ATM or POS terminals, for online purchases, automated bill payments, and much more.
Benefits for the Employer
- Reduce costs associated with bank processing fees and check handling fees
- Reduce check printing costs and the likelihood of check fraud
- Reduce check reconciliation costs
- Eliminate lost /stolen check replacement costs
- Maximize direct deposit participation
- Available dedicated resources for implementation
- Card Management – Can bulk ship to distribution center(s) or send direct
- Programs are currently available in all 50 states
Benefits for the Employee
If they don’t have a checking account and if they use check cashing services, a Chxstub Card will:
- Save employees check cashing fees
- Be safer and easier to use than carrying around cash
- Save employees time spent driving to and waiting in line at the check cashing store
- Provide employees with 24 hour access to funds at over 1 million ATMs worldwide or at a bank teller during banking hours
What types of transactions can be made with the ChxStub Payroll Card?
The card can be used in several ways and ChxStub offers 100% free access to employee’s payroll each pay period.
Employees will also receive one free point of sale transaction per pay period.
Additional Benefits and Card Usage Options:
Bank Teller – Free Option
The card will be accepted at any bank that is a MasterCard merchant as long as the signature on the back of the card matches the identification that is shown for validation. Employees can withdrawal funds to the penny for no charge to when choosing this cash advance option.
***Please note – Maximum limit per day is $2,500.00 OR the balance of the card
Convenience Check – Free Option
Employees can request a convenience check or write themselves a check for the entire balance each pay period for no transaction fee.
Swipe the card at a card terminal, selection the CREDIT option and sign the receipt to complete the transaction. This transaction is not a credit card transaction. Purchases can be made only if adequate funds are available in the account.
PIN (personal identification number) Transaction
Swipe the card at a card terminal, select the DEBIT option and enter the PIN to complete the transaction. Purchase can be made only if adequate funds are available in the account.
Insert the card into an ATM, enter the PIN and select the CHECKING option. Withdrawals can be made only if adequate funds are available in the account. There are fees involved at the ATM’s. If you try and withdrawal all your funds at an ATM without calculating fees and surcharges the transaction will decline. The maximum ATM limit per day is $500.00.
Easy access to account information
ChxStub Payroll Cards can be registered online at www.Espreecard.com providing the ability for employees to view balance and transaction history for free. Customer Service is also readily available with the number provided on the back of every card (1-855-281-3529) and inquiries can be made to check card balances and transactional history through the live customer service representatives for free. Text alerts are also available and can be sent via SMS to any compatible cellular device for account balances, transactional history, and card loads.