South Carolina Pay Card Compliance Here’s a look at the current payroll requirements in South Carolina; a state in which paperless pay is permitted: Legal Requirements: The South Carolina wage payment statute does not expressly address pay cards, but South Carolina permits the deposit of wages to an employee’s credit at a federally insured financial institution doing business in the state. The South Carolina Department of Labor Licensing and Regulation takes the position that pay cards are permitted if specified conditions are met such as the employee must be entitled to at least one withdrawal for each deposit, free of any service charge and the employee must be provided a… Read More
The Benefits of Using our Mobile App1
Admit it. From the first time you saw the commercial of the newlyweds, still clad in their wedding attire, depositing gift money by simply snapping the check’s image; you were hooked! Mobile apps and banking got married. And so it will continue – from that day forward. Convenience Banking hadn’t experienced that kind of revelation since the Automated Teller Machine (ATM) made its first appearance back in 1969. In a press statement released this month from the American Bankers Association (ABA), they announced some very interesting statistics about Americans and our ubiquitous smartphones. Independent market research firm, Ipsos Public Affairs, conducted the survey that polled 1,000 U.S. adults. Apparently thirty-nine… Read More
Florida Pay Cards and Compliance
Our singular focus? To provide employers with innovative and responsive payroll card programs. We observe industry-wide best practices for the delivery of high-quality payroll cards that maintain the alternatives of choice, safety, affordability, transparency, and convenience. While our obligation is to maintain adherence to state and federal regulations, we also keep our clients well-informed of those ever-evolving payroll laws. To that end, we provide our customers with a consistently updated, interactive map which serves to deliver a state-by-state update on legal requirements and how rapid! PayCard complies. For example, here’s a look at some of Florida’s legal requirements and how we address them: Cash Access State Statute: Payroll debit cards… Read More
Happy National Payroll Week!
With an entire business dedicated to payroll, we always look forward to this annual celebration! National Payroll Week (NPW) is an awareness campaign that recognizes industry professionals. It also stands to drive the attention of our country’s workforce to details about payroll and employee benefits, as well as the withholding system itself. We are a country known internationally for being the home of “The American Dream.” From those businesses, built by generations of families and the jobs we work every day, comes each person’s contribution to the U.S. Treasury’s annual revenue; contributions collected via payroll systems. As hard-working Americans we are not only supporting our families, but our payroll deductions… Read More
Tips to Save for An Early Retirement
Thinking about your future can be scary — especially when that thought includes how you will be able to afford retirement. There are countless different options and plans to be considered when you begin to seriously think about your own retirement. The topic becomes even more important—and stressful—when you add in a desire to retire early. To help you out, we have compiled some tips to help make planning for retirement a little less daunting. Step 1. Make a plan By having a plan you have a better idea of your path to retirement. You will know what needs to be done and how much will need to… Read More
Why rapid! PayCard® is Easy to Use
For those who don’t know, payroll cards, such as the rapid! PayCard, are prepaid cards that are loaded up by employers every pay period. The rapid! PayCard® lets you collect, manage, and spend your money with the convenience of a prepaid card, while providing greater security1 than carrying cash. Our rapid! PayCard requires no credit check2 and can be issued3, 4 instantly by your employer. Using the rapid! PayCard gives employees lots of benefits and an easy, hassle-free user experience. This means less stress, less aggravation and less worry when it comes to actually getting your hard earned pay check. With rapid! PayCard you can have all of your payments loaded directly… Read More
July Updates in PayCard Compliance
July has been a busy month for the PayCard industry, with the Department of Education and the State of New York Department of Labor both addressing rule making proposals! The Department of Education is addressing a rule change regarding the disbursement of Title IV Funds. These funds include all federal grants, loans and financial assistance for college students. Universities and colleges are tasked with the responsibility of applying the funds to tuition and fees for each student as well as disbursing any remaining or additional funds to said student. The debate currently being addressed is determining the most efficient and cost effective way to get the funds to the students…. Read More
rapid! PayCard® Speakers Love What They Do and Their Attendees Can Tell
“rapid! PayCard sent two individuals to our August 2014 chapter meeting. The representatives were extremely professional and very well prepared. We were clear that we did not want to have a ‘sales’ pitch. rapid! delivered a very informative look at the paycard industry, regulation changes, and the future of paycards. Our members walked away with a clear understanding of what to look for in a vendor as well as the pros and cons of this vehicle. Questions were answered honestly and clearly. The experience was very positive.” – Kirk Simmet, President, Southeastern PA Chapter of the American Payroll Association It is quotes like the above that keep Chris Ruppel, Brian Slowik, Dallas Wilfong… Read More
5 Easy Saving Strategies
Saving isn’t always easy, and can sometimes feel like a necessary evil, but in order to secure your financial future, establishing healthy habits for saving is imperative. It’s never too late to start saving for your future, even if you start small. Set goals for your financial future, and then work towards those goals. If you don’t even know where to start, we’ve compiled a few saving strategies that, we think, will be a great place for you to start. Think Before you Buy The first tip is to think before you buy. When you are considering making a purchase, ask yourself if you really need it or if it… Read More
Benefits of rapid! PayCard® for College Students
These days, prepaid cards are more popular than ever. When sending a child off to college, a major concern on every parent’s mind is money. How will my child receive money? What if an emergency happens and their account balance is low? What if they need money for food? This is where rapid! PayCard can help ease your family’s worries. Prepaid cards are easy to obtain and widely accepted. These cards are easy to reload, especially online. With rapid! PayCard money is available as soon as it is transferred – no wait time. So if an emergency situation occurs, or your child is short on money for the month, the… Read More