rapid! PayCard

  • Why rapid!
  • About us
  • PayCard
    • Cardholder
    • ATM Locator
    • Cardholder FAQs
    • Client testimonials
    • Case Studies
  • OnDemand
  • Financial Wellness
  • Disbursements
  • INDUSTRIES / VERTICALS
  • contact us
  • Why rapid!
  • About us
  • PayCard
    • Cardholder
    • ATM Locator
    • Cardholder FAQs
    • Client testimonials
    • Case Studies
  • OnDemand
  • Financial Wellness
  • Disbursements
  • INDUSTRIES / VERTICALS
  • contact us

South Carolina Pay Card Compliance

October 8, 2015 by rapid! PayCard

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:

  1. 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 statement of earnings and withholdings. See S.C. Code § 41-10-40(B). Fees that deny employees the ability to access their full net wages at least once each pay period are likely to be prohibited. See S.C. Code § 41-10-40 (requiring at least one withdrawal for each deposit free of any service charge). The South Carolina wage payment statute does not expressly address convenience checks however the code does permit payment to be made by negotiable “bank check bearing even date with the payday”. S.C. Code § 41-10-40.

  1. rapid! PayCard® Program offers:
  • All rapid! PayCards display the MasterCard or Visa Brand Marks, are FDIC-insured1 and may be used for both signature and PIN transactions.
  • The rapid! PayCard provides numerous ways for employees to access their full net pay each pay period, including:
    • Teller Assisted Cash Withdrawal at banks displaying the MasterCard or Visa Brand Marks
    • Electronic transfer to a bank account
    • US Post Office Money Order
    • ChekToday convenience checks

Additional methods of cash access include:

  • ATM withdrawals:
    • Allpoint® – The rapid! PayCard is currently a member of the Allpoint ATM network, which provides our cardholders with unlimited, surcharge-free ATM access at more than 55,000 locations worldwide.
    • MoneyPass® – The MoneyPass network offers tens of thousands of surcharge-free ATMs coast to coast. This card may be used at any MoneyPass surcharge-free ATM.
  • Cash back with POS purchases using a PIN

When one of the transactions above is the first transaction after employer wages are loaded to the Card, the fee associated with that first transaction is waived.

  • A Fee Schedule is included in the enrollment packet provided to employees and is always available online.
  • rapid! PayCard is governed by the Issuing Bank’s2 comprehensive privacy policies in accordance with federal law. A copy of the Issuing Bank’s2 privacy policies is provided in every card package, is available on its website, and is provided upon request by calling cardholder services.
  • In addition, the Issuing Bank2 distributes an annual privacy notice and error resolution to all cardholders.
  • The rapid! PayCard system is compliant with the Payment Card Industry Data Security Standards.
  • rapid!  PayCard offers ChekToday which may be cashed by cardholders at participating Wal-Mart stores free of charge, check cashing facilities or used to make other direct payments.

At rapid! PayCard, we not only stringently work to ensure compliance, we offer the flexibility both employers and employees need to facilitate the payroll process itself.

 

1Funds are FDIC insured through the Issuer.  Please see the back of your card for its issuing bank. The Bancorp Bank and MetaBank, Members FDIC. For additional information regarding FDIC insurance and what it means for you as a cardholder visit fdic.gov/consumers FDIC insured. MetaBank® or The Bancorp Bank® are FDIC-insured members. For additional information regarding FDIC insurance and what it means for you as a cardholder visit fdic.gov/consumers

2MetaBank or The Bancorp Bank; please see the back of your card for the Issuing Bank.

Filed Under: Compliance Tagged With: #cashaccess, #checks, #money

Ready for a better way to pay?
Your browser does not support SVG
Green Dot Technology Privacy Statement

The rapid! PayCard® Mastercard® Payroll Card is issued by Green Dot Bank, Member FDIC, pursuant to a license by Mastercard International Incorporated. The use of this Card is subject to the terms and conditions.

The rapid! PayCard® Visa® Payroll Card is issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. This card can be used everywhere Visa debit cards are accepted.

The Savings Account is established by Green Dot Bank, Member FDIC.

The rapid! PayCard blog and any information contained within do not reflect the views of Green Dot Bank or Mastercard or Visa, nor are they endorsed by Green Dot Bank or Mastercard or Visa.

The rapid! PayCard® Mastercard® is issued by Pathward N.A., Member FDIC, pursuant to license by Mastercard International Incorporated. Prepaid card can be used wherever Debit Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

The rapid! PayCard® Visa® Payroll Card is issued by Pathward N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. This card is accepted everywhere Visa debit cards are accepted.

The Savings Account is established by Pathward N.A., Member FDIC.

The rapid! PayCard blog and any information contained within do not reflect the views of Pathward N.A. or Mastercard or Visa, nor are they endorsed by Pathward N.A. or Mastercard or Visa.

Green Dot Bank operates under the following registered trade names: GoBank, Green Dot Bank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage.

Copyright 2003-2023 Green Dot Corporation NMLS ID 914924. All Rights Reserved.