Funding Employees through Pay Cards

This article will explain what pay cards are and highlight some scenarios in which your organization might find it efficient to fund employees via pay cards.

OVERVIEW 

Remote working arrangements may present obstacles around sending physical payroll checks to employees. Namely has finalized arrangements with a company that can provide payroll pay cards to you to distribute to your employees. 

FREQUENTLY ASKED QUESTIONS

What is a pay card?

A pay card is similar to a debit card - an employer sends payroll funds to the pay card instead of cutting checks to mail or to hand to employees. Funds are loaded onto pay cards through direct deposit because each card is linked to a virtual bank account under an employee’s name. 

Why should employers use pay cards?

Benefits of pay cards include:

• Seamless and more efficient payroll funding relative to physical pay checks.

• Quick and reliable bank transfer of funds, with tracking available.

• If a card is lost or stolen, it can be replaced with no loss of funds.

• Less manual work and time needed to manage pay cards vs. physical pay checks. 

  • No need to perform stop payments

  • No need to mail checks back to Namely

  • No need to print checks in-house 

How much does it cost?

It's free to become a client of our referred vendor!

How do I begin the process of getting set up for pay cards?

Please reach out to the Namely Service Team via the Help Community, and we'll refer you to our vendor. 

TIP:

Once you have been referred, implementation and servicing of your pay card program will be handled by the pay card provider.