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
Payroll debit cards must be negotiable and payable in cash, on demand, without discount, at an established place of business in the state.
We provide numerous ways for employees to access their full account balance each pay period, including:
- Over the counter bank teller transactions at banks displaying the Visa logo
- Electronic transfer to a bank account
- US Post Office Money Order
- ChekToday convenience checks
- Additional methods of cash access include:
- ATM withdrawals at more than 55,000 locations in the Allpoint ATM surcharge-free network
- 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.
- Employer Costs and Incentives
No provision expressly addresses employer costs or incentives in the context of payroll debit cards.
We do not offer cash incentives to employers, or pass employer costs onto their employees.
- Convenience Checks
The Florida wage payment statutes do not expressly address convenience checks.
All paychecks must be negotiable and payable in cash, on demand, without discount, at an established place of business in the state. The name and address of the place of business where the check is negotiable without discount must appear on the check.
We offer ChekToday convenience checks which may be cashed by cardholders at participating Wal-Mart stores free of charge, check cashing facilities, or used to make other direct payments.
The rapid! ChekToday offering prints the address of the Wal-Mart closest to the address of the client location ordering cards.
- Transaction Histories
No express requirements relating to transaction histories on pay card accounts.
We make transaction information available to cardholders online, via the rapid!Access mobile application and over the telephone. Transaction data can be printed from the cardholder website or upon request, and rapid! will provide a written transaction history.
- Ability to Change Payment Method
No express provision requiring that employees be allowed to change the manner in which they receive their wages, although this may be implied from the requirement that employees be provided payment options.
An employer that offers the rapid! PayCard should allow its employees to switch to another payment method offered by the employer upon reasonable notice.
At the end of the day, it can sound like the “boring fine print” but our obligation is to comply with every state and federal mandate that protects the companies we serve and their employees.