At first reflection, prepaid cards may seem a solution with limited bandwidth; suitable only for those with no other means of establishing and maintaining traditional bank and credit card accounts. Yet, as other tools have successfully morphed from their original intention (think Facebook moving from its original Harvard campus setting and transforming into an international behemoth), so have prepaid cards effectively made their journey from one subset into the general population. Prepaids Offer a Better Deal than Checking Accounts The PEW Charitable Trusts, an independent nonprofit organization that has itself evolved — into a global research and public policy organization — as a non-governmental organization, they are dedicated to serving the public. … 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