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The First Bank PayCard provides employers a way to offer Direct Deposit to all their employees – even those that don’t have a traditional checking account. Offering the PayCard to employees can help to dramatically reduce the costs of issuing paper paychecks…and your employees will have access to their payroll funds immediately on payday. The First Bank PayCard is branded with the MasterCard® logo and works similar to a debit card. It can be used by employees to obtain cash from ATMs or to make purchases and receive cash back from retailers, where MasterCard is accepted.
Employer Benefits of a First Bank PayCard
- The First Bank PayCard replaces paper paychecks.
- Dramatically reduces paycheck issuing and processing expenses.
- Decreases check fraud as well as uncollected paychecks and escheatment.
- Lessens your stop payment fees.
- Reduces your cost of reissuing lost and stolen checks.
- Uses the standard Direct Deposit process, making it easy to incorporate it into existing procedures.
- Use to fund all employee disbursements – payroll, commissions and travel expenses.
- Provide a financial tool to employees without traditional banking accounts.
- Delivers a meaningful, low-cost, easily administered employee benefit.
Employee Benefits of a First Bank PayCard
Convenience:
- Employees’ pay is automatically loaded to their PayCard each payday so that funds are available first thing on payday.
- Employees have access to cash at over 900,000 ATMs and thousands of cash back retail locations.
Cost savings:
- Eliminates high check cashing fees.
- Dramatically reduces money-transferring costs.
- Reduces money order purchases.
Security:
- Eliminates the need to carry large amounts of cash.
- MasterCard security allows for funds to be replaced if the PayCard is lost or stolen and fraudulently used.
MasterCard Acceptance:
- The First Bank PayCard can be used for purchases and cash back at over 900,000 ATMs and thousands of retailers where MasterCard is accepted.
Save Time:
- No more special trips for employees to pick up paychecks – their pay is available first thing on payday.
- No more waiting in long lines to cash paychecks at a check cashing agency.
To find out more about First Bank's PayCard,
contact theTreasury Management Officer nearest you.
Terms and Conditions
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