It is true that it takes money to make money. Today, it is also true that it takes money to get your money. In third quarter 2014, Business Insider reported that ATM fees were at record highs after the 10th straight year of increases. The average surcharge that banks charge non-customers who use their ATMs climbed 6.5% to $2.77, marking the 10th year in a row of increases for this fee. The average fee banks charge their own customers for going to an outside ATM also rose to a new high of $1.58. That means that, combined, consumers pay an average of $4.35 each time they use an out-of-network ATM…. Read More
Tennessee Pay Cards and Compliance
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