Earth day is right around the corner, and if you’re looking for ways your company can get in on the green movement, look no further than EPayroll! Improving your company’s direct deposit participation is a simple, safe and smart way to have a positive impact on the environment. If the 22 million American’s who still don’t have direct deposit for their pay, used direct deposit, annually, we would save 8.7 million pounds of paper and avoid releasing 25 million pounds of greenhouse gases into the environment. That’s quite the impact!
PayItGreen Alliance and NACHA study:
If a company with 10,000 employees converted from traditional payroll to epayroll, the environmental impact would be as follows.
- 4,368 pounds of paper saved
- 259,722 pounds of CO2 equivalents prevented
- 138,867 gallons of wastewater prevented from discharging into lakes streams and rivers
- 829 less household garbage bags filled with waste from paper production
- 4,706 gallons of gas saved by not shipping checks and wage statements
Not only is EPayroll good for the environment, it can be good for your bottom line, too. According to another study conducted by PayItGreen, businesses have saved a total of $6.7 billion over the last 10 years by switching employees to direct deposit. The financial impact is just as large as the environmental impact, meaning your company can save some green by going green!
The good news about EPayroll is that everyone wins. A company saves money and reduces their environmental impact, and the employee has quick access to their money, eliminating the risk of lost or stolen checks and avoiding potential check cashing fees. But what about those employees who don’t have access to a bank account?
rapid! PayCard® is a great solution when an employee does not have a traditional banking relationship. Many companies are eliminating paper checks, and pay stubs to move to online payroll management systems. In doing so, employees are required to have either a bank account or a PayCard in which their money can be directly deposited. Offering an employee, who does not have a traditional banking relationship, the option of a rapid! PayCard provides them a convenient and secure option. With benefits like text alerts1 about card balances, cash rewards2 programs, interest bearing savings2, and bill payment2, rapid! PayCard is a powerful financial service.
Going green has a positive impact on the environment, the bottom line and even your employees. It sets a positive example for employees which boosts morale and company loyalty. It gives you a competitive advantage and helps differentiate you from other companies. Going green also provides a cleaner and healthier work environment. For more information about how your business can go green, visit the Green Business Alliance.
Going green is a great move for your business, and switching your employees to direct deposit is a great way to start. Contact us for more information on how rapid! PayCard can help your company go green this earth day!
1While rapid! PayCard does not charge for this feature and service, standard text messaging, data and cellular rates may apply. Please check with your cell phone carrier and inquire about fees your carrier may associate with these services.
2This optional offer is not a MetaBank® product or service nor does MetaBank endorse this offer.
The information contained in this article and any other article do not reflect the views of rapid! PayCard®.