The Visa Total Pay card offers a dependable way for employees to receive their pay, access pay funds on the morning of payday, transfer funds to a personal checking account, eliminate risk of overdrawing on an account and receive extra security measures, reports American University. The card allows employees to receive pay electronically, even when they don't have a bank account.
Funds on the card are accessible through a network of automated teller machines or by going inside a Visa member bank and withdrawing the funds from the account, states American University. Employees without bank accounts commonly have to pay high fees when cashing their checks. In addition, they have to pay extra fees when using this cash to buy money orders to pay bills or rent. The Visa Total Pay card allows them to access their funds in a much less expensive way. For employees of employers who use this system, they can also opt for a direct deposit if they already have a bank account.
For employers, using the Total Pay card for payment is cost effective, and it also allows companies to become more environmentally friendly by foregoing paper checks, says American University. Expenses for such processes, such as reissuing lost checks or uncashed ones, are also significantly reduced. There are no fees for the employee to use the Visa Total Pay card for standard services.