We provide our customers with a consistently updated, interactive map which serves to deliver current, state-by-state updates on legal requirements and how rapid! PayCard® complies. Our goal is 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 objectives of choice, safety, affordability, transparency, and convenience. For example, here’s a look at some of the legal requirements in Tennessee and how we conform: Cash Access Legal Requirement – State Statute of Tennessee: One withdrawal or transfer without cost per pay period for any amount contained on the card. Tenn. Code § 50-2-103(e)(3). rapid! PayCard Program:… Read More
South Carolina Pay Card Compliance
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
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
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
New Law Brings Payroll Cards to Georgia
On May 5, 2015, Governor Nathan Deal signed Senate Bill 88 (SB 88) into law making Georgia the twenty-third state to expressly address the use of payroll cards in its wage payment statutes. The bill, which amends section 34-7-2 of the Office Code of Georgia Annotated, became effective upon signing. The new law allows employers to pay wages and salary by credit to a payroll card account so long as employees are provided with a written explanation of any fees associated with the account. This explanation must be provided at least thirty days before the employer first implements a payroll card program. Once the program is implemented, the written explanation… Read More
Update on State Payroll Card Legislation
In 2015, ten states have considered legislation addressing payroll cards. Several bills would make it easier for employers to implement electronic wage payment, others would impose restrictions on the use of payroll cards. To date, the bills more favorable to payroll cards have passed. FL and GA: Legislation in Florida and Georgia has been approved by both houses and awaits signature by their respective governors. The Florida bill applies only to labor pools, and would allow labor pools to pay day laborers using payroll cards if certain conditions are met. The Georgia bill applies to all employers and would statutorily authorize the use of payroll cards. Employers will be able… Read More