A Money Network payroll debit card functions in the same manner as a debit card linked to a traditional checking account. The cardholder can swipe it at participating retailers to post charges against the available balance or withdraw funds from an ATM. The main difference is that funds from the cardholder's paycheck are automatically loaded onto the card by the employer during each pay period.Continue Reading
The Money Network payroll system offers employers the ability to issue debit cards to employees to allow access to funds, rather than issue paper paychecks or require a direct deposit into a banking account. This system reduces processing fees and times for the company and also allows for more direct tracking of funds for all parties. When the employee starts a job with a participating company, she may elect to receive payments through the debit card, in which case she must wait for the card to arrive in the mail before she can access her funds.
Each time the company processes its payroll, the funds for the employee automatically appear on the card. The employee can then use the card at any participating retailer that supports the credit company backing the card, such as Visa or MasterCard. The employee can create an account with Money Network to review funds and manage balances online, simulating the same functionality of a traditional checking account without any fees or balance limitations.Learn more about Personal Banking