Posts Tagged ‘Direct Deposit’

Global Cash Card Announces Mobile Web

Monday, March 26th, 2012

Global Cash Card02/21/2012

Global Cash Card, the proven specialist in customized paycard solutions, announces the launch of Mobile Web, a website formatted specifically for mobile devices allowing cardholders to securely login to their account anytime, from anywhere and access important information on demand.

“The primary driver to develop this function was that smartphones and tablets are growing in popularity,” said Danny Jung, Senior Systems Architect at Global Cash Card.

Based on a recent study conducted by Global Cash Card, 30% of the company’s website traffic comes from mobile devices. This is a 150% increase over last year’s findings. Global Cash Card anticipates mobile device traffic to increase dramatically as smartphones and tablets saturate the market.

“It is very important to be as inclusive as possible, and to that end, we support all devices, iPhones, iPads, iPods, Android, Blackberry, and even Kindle,” said Jung. “The goal of the Mobile Web is to make the experience easier for users; we don’t want them to have to go home to use their computer or find an ATM to check their balance, or even have to call our customer service.”

Cardholders simply log on to www.globalcashcard.com from a mobile device and are automatically directed to the user-friendly mobile site, which is tailored to their specific device, to view their balance, transaction history, and/or paystub information, as well as transfer funds to another card, bank account, or payee.

In addition to Mobile Web, Global Cash Card offers Two-Way Texting. By sending simple text commands, account information such as balances, purchases, pay amounts, and debited transactions are responded back instantly.

Mobile Web is a free service offered through secure connections, encrypted data transfers and other best practices that provide users with the utmost security for their mobile devices.

For more information visit our website or contact:

John De Leeuw
Business Development Manager
763.746.1938 Direct
Email John

About Global Cash Card

Payroll Control Systems has partnered with Global Cash Card™ to provide PayCards for our Clients and their employees.

Global Cash Card™ is the proven specialist in customized paycard solutions that are simple to implement and easy to use. The company is a wholly owned subsidiary of World Processing, Ltd, a leader in electronic financial transaction technology. Global Cash Card is a direct processor that offers Debit MasterCard cards and Visa Prepaid cards. The company develops and owns the proprietary software, which enables the products and services it offers.

Direct Deposit Best Practices

Sunday, October 30th, 2011

Direct DepositMost employees and employers know what a great tool direct deposit is, but are you using direct deposit to its greatest advantage, and are you protecting yourself from any issues that may arise from paying employees via direct deposit?

The National Automated Clearing House Association (NACHA) estimates that an employer can save between $2.87 and $3.15 per payment by using direct deposit instead of live checks. For an employer with 25 employees and a bi-weekly payroll, this is around $2000 in savings annually.

The biggest reason that employers choose to offer direct deposit to their employees is that it cuts down considerably on the hassles of issuing paychecks to employees.  The funds are guaranteed to be in employees’ accounts on payday. Direct deposit virtually eliminates issues with unclaimed checks and escheatment, and even though a direct deposit paystub may be lost, the funds themselves are safely in the employee’s bank account.

So what do I need to know about direct deposit?

  1. It is important that you require your employees to complete a direct deposit authorization form.  The form authorizes you to deposit funds into the employees’ accounts, but more importantly authorizes you to reverse those funds out in the event of an overpayment or error. This is vital, especially in light of recent banking law changes.  You can get a copy of this form by clicking here.
  2. Make certain that you get a copy of a voided check from your employees when setting up direct deposits.  Do not accept deposit slips unless it is from a savings account.  If the deposit slip’s routing number begins with a 5, it is an internal routing number and should not be used as direct deposit can’t be processed with that routing number.  Ask your employee to bring in a voided check (or a copy of a blank check) or a specification sheet from their bank to confirm the correct numbers.
  3. Let the account information prenote on all new direct deposit setups whenever possible.

What if my employee doesn’t have a bank account yet I want to pay all my employees electronically?

  • Paycards are a great way to electronically pay an unbanked employee.  Our Paycard solution is no cost to the employer, and your employee’s can use the cards fee-free if they follow simple usage rules.  Click here for more details on the PCS Paycard Program.

Unfortunately an employee was incorrectly paid. What are the options to correct the payment?

Communication is key.  Let your employee know what is going to happen to their bank account.  Ensure they understand that they will see at least two transactions posting to their bank account; one that deposits the funds into the account and another that reverses the funds out of their account. If it is an underpayment situation, let them know how they will receive the additional funds.

  • If you have underpaid an employee, the best thing to do is let the original direct deposit process and create a manual check for the difference.
  • If an employee has been overpaid, call your Client Account Manager to initiate the direct deposit reversal process.   Click here to download the Direct Deposit Reversal Request form or contact your CAM for  help on deciding the best way to get the funds returned to your company, as well as get a corrected check issued to the employee.
  • There is a very small window of time for the employer to initiate a direct deposit reversal (typically 5 business days from paydate), so make the request with your CAM as soon as possible.
  • It is important to note that if an employee does not authorize the reversal, they may dispute the transaction, and they have up to 60 days to do that. If that does happen, you will have to get the funds back directly from the employee.

What do you do if employee comes to you and says that their bank account is closed or has been fraudulently accessed?

  • Ensure the employee has contacted their bank to not only inform them of the potential fraud, but that there is a direct deposit pending.
  • The best thing for the employer to do is wait.  The bank may return the direct deposit funds if the account was closed prior to the posting date of the direct deposit.  This typically takes two (2) business days from paydate.
  • If a fraud report has been made by the account holder(employee) the bank will return the funds to the company. The bank may also put the direct deposit in a new account if one has been opened by the employee. This is rare, but possible especially if it is at a credit union.

What if there are not enough funds to cover a direct deposit reversal?

  • Unfortunately, the request will be rejected by the employee’s bank if there are not sufficient funds to cover the entire amount.  They will not process a partial amount. You will have to get the funds directly from the employee.

Your CAM is always available to answer any questions that you have regarding direct deposit, paycards or banking questions in general.

Submitted By:

The PCS Client Services Team

Legal Disclaimer: This article is intended for informational purposes only and by no means should replace or substitute other legal documents (governmental or non-governmental) reflecting similar content or advice. If you have any questions concerning your situation or the information provided, please consult with an attorney, CPA or HR Professional.

PCS Partners with Global Cash Card

Wednesday, May 25th, 2011

Global Cash CardGoing paperless?  Have unbanked employees?  Looking for alternatives to promote electronic payment?  Want to save money on the distribution of employee payroll?  How about providing an additional NO COST employee benefit?  Paycards from PCS partner, Global Cash Card, allow businesses to provide all of these benefits and more.

Save With Paperless Payroll
According to most experts, including the American Payroll Association, there is a $3.88 average savings per payment when paperless payroll is implemented.  Paycards can dramatically increase your Direct Deposit participation, while reducing your payroll costs by automating and streamlining account transactions, reconciliations and reporting.

The Unbanked Employee Solution
In a perfect payroll world, all employees in an organization have their own bank accounts and proactively elect to receive their pay via direct deposit. However, the reality is that not every employee has a bank account or can easily open one for a variety of reasons.  Statistically, if you are an employer in the hospitality, restaurant, retail, or transportation sectors of our economy, a greater proportion of your workforce is likely to be part of the unbanked population.

Until recently, this situation presented a problem for employers that wanted to take advantage of the cost savings that can be achieved if they increased their use of the ACH system to initiate direct deposit transactions for their payroll disbursements.

With the recent introduction and increased availability of paycards, employers now have a viable payment option they can use to electronically pay their unbanked workforce and achieve cost savings similar to those realized with the use of direct deposit. In fact, both employers and their workers can share in the advantages that paycards offer.

Employer Paycard Advantages
First and foremost, the major savings comes from not having any distribution costs.  Employee pay is automatically deposited to their paycard on the payroll check date.  No more checks or stubs to deliver or mail to multiple locations.  No more employee absences or long lunch breaks due to making a run to the bank to deposit their check.  Businesses also benefit by reduction in bank service fees, account reconciliation costs and stop payment fees for lost or stolen checks.  Also, decreasing the amount of paychecks produced significantly reduces employer exposure to paycheck fraud.

Dedicated Account Managers
Global Cash Card provides every client with a fully dedicated Account Manager – a knowledgeable, rigorously trained, single point of contact, who is committed to optimizing your program and supplying you with straight answers, and fast, accurate, detailed information.

Global Cash Card’s multi-lingual Customer Service Professionals are screened thoroughly and trained in systems operations and Customer Service, so you and your employees always receive the best support possible. In addition, both web access and our proprietary IVR telephone system are available to cardholders – all Free of Charge.

The Best Implementation Program In The Business
Global Cash Card provides you with all the materials you need to generate maximum participation. From training manuals to collateral material and visits from our field support team, Global Cash Card’s Industry-leading approach is a proven winner.

Global Cash Card’s cutting edge technology continues to improve, offering more value and greater flexibility to meet the particular requirements of its customers.  The platform provides payroll cards, travel, gift, FSA, HSA, and many other types of applications.

Outstanding Employee Benefits
Besides its many corporate advantages, Global Cash Card also offers a host of exciting benefits that employees will instantly appreciate.  Participating employees experience increased safety and security associated with not having to physically carry their entire pay on their person, in cash, after cashing their check.  The card can also be used just like a regular bank debit card for purchasing goods and services and the employee can utilize the Global Cash Card online portal to access bill pay and check writing tools saving them more time and the fees they may be spending on money orders.

Free Rewards Program
Employees accrue points every time they use their Global Cash Card at our online mall or special member’s catalog where we have over 200,000 items from major brands. Then redeem them for cash purchases with major online retailers – or apply them as cash credits to their Global Cash Card account.

Instant Payment
With Global Cash Card, cardholders eliminate check cashing fees and skip the trips to the bank, check cashing stores and quit waiting for the mail – funds are automatically deposited like clockwork and are always available the second they hit their card.

Discount Programs
Cardholders can also join the Diamond Club. This club is comprised of four individual saving vehicles: Health, Roadside Assistance, Prepaid Legal and Entertainment.

  • Health Discount (not insurance) – Cardholders and their family members save up to 60% on prescriptions, medical services, etc.
  • Roadside Assistance – Costs for towing, tire changes, etc. are greatly reduced.
  • Prepaid Legal – A nominal monthly fee can bring significant savings when an attorney is needed.
  • Entertainment – Cardholders receive discounts on movie tickets, theme parks, golf, etc.

Online Bill Payment
Cardholders can pay merchants directly or utilize Global Cash Card’s online bill payment system.

Convenience
Employees can use their card anywhere VISA or MasterCard are accepted. Or use it for quick transactions at ATM’s everywhere, 24 hours a day.

Electronic Paystubs
Employees can keep track of their paystubs easily using email, text messaging, fax, or via the Internet.

Text Alerts
For those with the need to know, Global Cash Card can automatically send text alerts notifying cardholders when their account has been credited, debited, or minimum balances have been reached.

Mobile Banking
Perfect for those on the go, Global Cash Card lets cardholders conduct banking transactions wirelessly wherever they are.

About Global Cash Card
Global Cash Card™ is THE proven specialist in customized paycard solutions that are simple to implement and easy to use. The company is a wholly owned subsidiary of World Processing, Ltd, a leader in electronic financial transaction technology. Global Cash Card is a direct processor that offers Debit MasterCard cards, Visa Prepaid cards and PIN-based ATM cards. The company develops and owns the proprietary software, which enables the products and services it offers.

Established in 1995 as a managed solutions provider for Dunn and Bradstreet and other major corporations, Global Cash Card is one of the very first Paycard providers, introducing its payroll card solution in 2002.

Global Cash Card strives to lead in the creation, development and implementation of the industry’s most advanced financial transaction processing and information technology systems.  They translate these advanced technologies into value for their customers through professional solutions and worldwide services.

Compliant To All Government Regulations
Global Cash Card operates under Regulation E, is FDIC insured and PCI certified, along with all other government regulations. They also adhere to all system and personal information security standards that are required by VISA and MasterCard.

Interested?
Contact PCS for more information.  There are no fees for the employer and employees can enjoy fee free usage by following simple to understand instructions provided at startup.  What are you waiting for?

Paycard Program Manager:
John De Leeuw
Business Development Manager
763.746.1938 Direct
jdeleeuw@pcspayroll.com

Alternate Contact:
Bob Willbanks
VP of Sales & Marketing
763.746.1934 Direct
bwillbanks@pcspayroll.com

Joe’s Jottings

Sunday, February 27th, 2011

Joe ReillyWith gasoline prices soaring, now may be the time to go paperless!

World unrest is causing a huge spike in the cost of fuel.  This translates into additional delivery surcharges that affect all of us.  If your payroll is being delivered, the cost of delivery is sure to go up.  Do yourself and your company a favor…consider paperless payroll.  Eliminating delivery charges can create dramatic cost savings!  And, for those employees who are “unbanked,” you can provide a safe, efficient way to pay them through our “pay cards.”  The cost to employees is virtually nothing compared to expensive check cashing services.

Please call your Client Account Manager today to learn more about how we can help save you money!  Our goal is, and always has been, to help you maximize the benefit of our services.  Providing outstanding value to our customers is how we maintain our A+ rating from the Better Business Bureau.  In fact, we are the ONLY payroll service in Minnesota to have that rating!

As always, if there is anything I can do to personally help you or answer any questions, please call me.  Whether it is suggestions or compliments, I’d love to hear from you.  My cell phone number is 763-567-8387.

Best wishes for continued success in 2011!!

Joe Reilly

Founder & CEO