Its a fact of life: employees must be paid. If you own a business, whether large or small, you cannot get around this fact. However, you can simplify the whole payroll process by choosing a debit card system. A direct debit payroll system eliminates the need to cut and cash checks and allows the money to be deposited directly into an employers account. They can retrieve the money through a debit card or a prepaid credit card and eliminate the extra time, effort and money of the check payment system.
Not convinced that a debit card payroll solutions service is right for your company? Below weve listed three benefits to using the direct debit that may change your mind:
However, think about how debit cards can also benefit others involved.
Imagine what this means for a larger company, with, say 300 employees. Instead of spending hours signing each check before sending it out to your employees, you can use a direct debit service where the money is automatically transferred. In check cashing fees alone, you can stand to save more than $500 monthly or $6,000 annually, according to the APA.
Furthermore, you are also saving money on paying your accountants overtime every second Thursday to ensure the checks are created as well as countless trees by switching to a paperless system.
Furthermore, you are making it a lot easier on yourself as well. After all, instead of spending your Thursday nights signing checks to deliver on Friday morning, you can rest easy knowing that you can send money automatically through the debit payroll services.
Consider this: if you are a small business with a payroll of only 10 people, cutting checks every second week most likely only takes a night to do. However, with direct debit, you are not paying anything at all, and, furthermore, according to calculations by the APA and American Bankers, you can stand to save almost 20$ monthly and over $200 annually.
Now, perhaps you have a larger company with 300 plus employees and are considering the switch to debit card transactions. It will take you an entire day to write out 300 checks biweekly, not to mention it will end up hurting your wrist. By switching to a debit card payroll system, according to the APA and American Bankers, you may be able to cut back over $6,200 annually on check cutting costs, which equates to $520 monthly.
Not convinced that a debit card payroll solutions service is right for your company? Below weve listed three benefits to using the direct debit that may change your mind:
However, think about how debit cards can also benefit others involved.
Imagine what this means for a larger company, with, say 300 employees. Instead of spending hours signing each check before sending it out to your employees, you can use a direct debit service where the money is automatically transferred. In check cashing fees alone, you can stand to save more than $500 monthly or $6,000 annually, according to the APA.
Furthermore, you are also saving money on paying your accountants overtime every second Thursday to ensure the checks are created as well as countless trees by switching to a paperless system.
Furthermore, you are making it a lot easier on yourself as well. After all, instead of spending your Thursday nights signing checks to deliver on Friday morning, you can rest easy knowing that you can send money automatically through the debit payroll services.
Consider this: if you are a small business with a payroll of only 10 people, cutting checks every second week most likely only takes a night to do. However, with direct debit, you are not paying anything at all, and, furthermore, according to calculations by the APA and American Bankers, you can stand to save almost 20$ monthly and over $200 annually.
Now, perhaps you have a larger company with 300 plus employees and are considering the switch to debit card transactions. It will take you an entire day to write out 300 checks biweekly, not to mention it will end up hurting your wrist. By switching to a debit card payroll system, according to the APA and American Bankers, you may be able to cut back over $6,200 annually on check cutting costs, which equates to $520 monthly.
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To ensure you get the best debit card payroll system, compare your options and weigh the pros and cons of all the payroll solutions offered by various processors.
