ALEXANDRIA, Va. – Late last year, NACS launched a new payroll card program to help NACS members better serve their unbanked, underbanked and bank fee-weary employees.
The NACS Payroll Card Program—created in response to NACS members who told us that this type of program would be beneficial to their business—reduces time spent by unbanked employees cashing checks and paying bills, as well as the burden on employers with distributing paper checks.
Three key features to the NACS Payroll Card Program include:
- 100% compliance in all 50 states
- No cost to the employer
- No cost to the employee (when following the simple program guidelines)
NACS also provides cash back (on an annual basis) to card holders based on their individual debit card spend, making this program more attractive than similar programs in the market.
Furthermore, program costs are covered by the debit card interchange already in place for all debit card purchases. Money Network Cards are accepted at 40,000 surcharge-free ATMs and merchant locations that accept MasterCard nationwide.
The program offers a full suite of services aimed at reducing the cost of financial expertise, such as:
- No POS fees for all purchases, PIN or signature
- No-charge account loading and off-loading of paychecks, eliminating check cashing fees
- No overdrafts and related fees, and available transaction and balance texting
- Free mobile app to track balances, spending and budgeting
- Free online bill payment and check writing for when cash isn’t convenient and cards aren’t accepted
The NACS Payroll Card Program is offered in partnership with First Data’s Money Network and MasterCard. To get started, contact NACS Payroll Solutions Program Director Bill Deichler at bdeichler@nacsonline.com.
Read more about how employers in the c-store industry are turning to payroll cards to cut costs and minimize fees for employees in the December 2015 NACS Magazine.