Expert Insight on Employee Payment Options
Local Payroll Pros Can Help Make Payday Convenient
Many companies have stopped issuing paper paychecks as technology has made it possible and secure to pay employees electronically. As a business owner or manager, switching from paper checks to an electronic option might seem like a daunting task. However, it can make things much more convenient for your employees and with the right help it can be a simple process.
Our team of payroll experts is located in the East Bay and we’re a top provider of payroll services, not only locally but across the nation. We have helped companies of all industries and sizes achieve a higher level of efficiency and employee satisfaction through our professional payroll assistance, and we are confident we can help your company as well.
In this article, we will be providing some experience-based insight on two popular methods of employee payments: direct deposit and paycards. Read on to learn more about these payment types and which one might be best for your business.
Paper Check Alternatives
Many people who are issuing paper checks question the necessity of switching to an electronic method. While we understand the desire not to upend an area of a business, there can be many benefits for employees. Electronic payments are secure when done through a professional vendor, they can provide a sense of security for your employees, and many people in today’s job market expect the option to be paid electronically. Whether you use direct deposit or paycards, pay stubs are available via a secure online portal for your employees and you can easily vary pay for overtime, bonuses, or other payroll irregularities.
About Direct Deposit
The most popular electronic payment service among our clients, and among businesses in general, is direct deposit. Direct deposits are scheduled transactions which use bank information to directly move money from your company’s payroll or operating account into your employee’s desired bank account. When we work with our clients, we gather your employee’s information and set up this payment for you, making it a seamless process for everyone involved. For employees who have a bank branch nearby, who are comfortable with online banking, and/or who have active bank accounts, direct deposit is generally the easiest and most preferred method.
About Paycards
While direct deposits are a great option for most employees, they aren’t ideal for everyone. Like a direct deposit, a paycard allows for automated withdrawals from a payroll account which we can easily set up for our clients. However, instead of moving them to an employee’s bank account, these funds are applied directly to a reloadable debit card. This is a secure and convenient option for people without bank accounts or who change locations often.
Choosing the Right Option for Your Company
Direct deposit or paycards could be viable options for your business, and we can provide assistance either way. Our local team of payroll pros would be happy to discuss your company’s unique needs, and provide more information about electronic payments and/or our services in general. To learn more, give us a call today!
Social Post: Electronic payments for employees are used by most companies and expected by many people in today’s job market. If your company is still issuing paper checks and is looking to make a change, check out this article where our team discusses two viable alternatives: direct deposits and paycards.
