Card Rebate

The debit card is probably one of the most convenient banking tools that have ever been invented. Its use in the business world is extremely under rated. Businesses can use a debit card to make major purchases without the hassle of wondering if the company will take personal checks.

Many businesses are active on the Internet, and debit cards allow for quick, easy transactions. And they can save you money! Each time a business uses a credit card, they are charged interest on the transaction; not so with debit cards. And they are limited by the amount of money in the account to which they are attached.

If you are looking for a better way to control expenditures, the debit card is the answer. The bank will not allow you to spend more money on a purchase than is in your account. And a prepaid debit card allows you to send and receive money quickly and easily.

Just what is a prepaid debit card? A prepaid debit card is like a regular debit card only you “load it” with a certain amount of money and that’s what the value of the debit card is. A prepaid debit card is great for payroll solutions. Many payroll services rely on a prepaid debit card to send money to their employees.

Time is costly and prepaid debit cards give businesses the ability to get the payroll out on time and save the cost of paper checks and wire transfers. A company, which has ten employees, could potentially save $2 to $10 per person on each pay period. If the employees were paid twenty six times per year, which is every two weeks, if the business saved the minimum amount of $2 per check, the year-end savings would be $520. Employees are happy, because the money is in their account as soon as the transfer is completed.

Imagine a company that has 10 employees. Depending on what institution you use for the employee’s prepaid debit card, the company can save from $2 to $10 per check each pay period. For this scenario, let’s say they are paying their employees every 2 weeks (26 checks per year per employee) and are saving the lowest amount of $2 per check. At the end of the year, they’ve saved $520. By using a debit card for payroll services, the employees are able to receive money much quicker as well.

Some banks may pass that savings on to their customers, which could result in a lower charge for banking fees. Debit card and prepaid debit card solutions can be the answer to payroll expenses for your business.

The same company that has 300 employees will really benefit by having their payroll services use a prepaid debit card to send money to their employees. With the same check price as up above, the company will save $15,600 per year by using a prepaid debit card vs. writing checks and approximately $78,000 over using wire transfers to send money!