Here at rapid! PayCard® we do more than maintain adherence to state and federal regulations. We keep our clients well-informed of the ever-evolving payroll laws.
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 the state of Maine and how we conform:
- Cash Access
Employees must be paid their full wages each pay period.
If employees are required to receive their wages electronically, they must be able to make an initial withdrawal of their entire net pay without cost.
26 Maine Rev. Stat. § 663(5).
rapid! PayCard Program:
The rapid! PayCard provides numerous ways for employees to access their pay each pay period, including:
- Over the counter bank teller transactions at banks displaying the logo of the applicable payment brand (Visa or MasterCard)
- Electronic transfer to a bank account
- US Post Office Money Order
- CheckToday1 convenience checks
- ATM withdrawals at Allpoint ATM and MoneyPass ATM surcharge-free network
- Employer Costs and Incentives
Legal Requirement – State Statute of Maine:
An employer may not require or permit an employee to return a part of his compensation to the employer as a condition of securing or retaining employment for any reason other than the payment of a loan, debit or advance made to the person.
26 Maine Rev. Stat. § 629(1).
rapid! PayCard Program:
rapid! PayCard does not offer cash incentives to employers, or pass employer costs onto their employees.
- Convenience Checks
Legal Requirement – State Statute of Maine:
State law does not authorize the use of convenience checks tied to a pay card account as a replacement for employer-issued paychecks.
rapid! PayCard Program:
rapid! PayCard offers ChekToday convenience checks which can be used by cardholders to access wages at Walmart stores with Money Centers at no cost. ChekToday also can be used at check cashing facilities or to make other direct payments.
- Transaction Histories
Legal Requirement – State Statute of Maine:
No express requirement relating to transaction histories on pay card accounts.
See federal requirements.
rapid! PayCard Program:
rapid! PayCard makes transaction information available to cardholders online, via the rapid!Access2 mobile application and over the telephone2. Transaction data can be printed from the cardholder website or upon request, rapid! PayCard will provide a written transaction history.
- Ability to Change Payment Method
Legal Requirement – State Statute of Maine:
No express provision that addresses whether employees must be allowed to change the manner in which they receive their wage, but such a requirement could be inferred.
See federal requirements.
rapid! PayCard Program:
Employers that offer the rapid! PayCard are responsible for complying with applicable state and federal requirements regarding an employee’s ability to change payment methods.
Convenience is not enough, compliance with state and federal mandates are what make rapid! PayCard the preferred choice for businesses.
1This optional offer is not an issuing bank product or service nor does the issuing banks endorse this offer.
2 While 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.