Did you know that you may have a limited amount of time to pay exiting employees? Termination pay laws vary from state to state, some require payment to be made immediately upon termination. (check with your state laws for complete regulations)
Pay checks can take days to be processed and printed. In some states the employer is even charged a penalty based on the employees wage for everyday that the employee does not receive their last paycheck. In many cases termination paychecks must be over-nighted adding significant cost.
As an employer it is important to pay terminated employees as quickly as possible. One of the fastest and easiest ways to do this is by a pay card with instant fund loading capability. With instant fund loading your employee’s pay card is immediately funded giving them access to their money at once and helping you avoid penalties.
With rapid! PayCard’s “free and clear” access to funds you have an instant termination pay solution.
