Payroll cards, also commonly known as Paycards, work in a similar way to stored-value debit cards. Small businesses with an employee roster of 50-500 can heavily benefit from the payroll solutions provided by payroll debit cards.

To execute a debit card payroll service, you will have to open a centralized payroll account in your name with an established bank. This payroll account contains the payroll funds of every employee. The bank which handles the central account manages the accounts and monitors all the money transactions including withdrawals and deposits and all the materials such as paper work related to payroll services.

By employing the use of debit card payroll systems, employers need not have to issue paper checks to all their employees. This helps the employer to save a significant amount of money that would have been spent on printing paper checks. Thus, it allows the employer to reduce their overhead expenses and increase their profits.

Companies who have overseas employees can also benefit from debit card payroll services. Some payroll debit cards allow employers to send money to their overseas employees free of cost.

Through payroll debit cards, employees can receive money easily from any foreign nation. These cards ensure that employee spending doesn’t exceed their account balance that is loaded by their employers through direct deposit.

Payroll debit cards can be used in the form of prepaid credit cards such as Visa and MasterCard to pay their shopping bills. Employees can also use these cards as prepaid cards in hotels, gas stations, restaurants and other merchant establishments around the globe.

Employees can withdraw money through a payroll debit card even if they do not have a savings or checking account. So these cards can be vital for companies who hire employees on a temporary basis, employees who find it difficult to open a bank account.

Because of all these factors, these cards are beneficial for both the employer and employees of a company. Several business organizations in Europe, Asia and America have reaped great benefits from payroll services that involve use of payroll debit cards.

A prepaid card program or debit card program can be very beneficial for the employers of small companies.