NACS Payroll Card Program Provides Retailers With Payment Solutions

The association has a program that helps lower payroll costs for both the retailer and employee.

June 03, 2016

ALEXANDRIA, Va. – The payroll practices of companies have been in the news of late, with critics arguing that payroll cards push fees on workers. NACS listened to its members and has negotiated a deal to take requests for a payroll card program that benefits both the employer and the employee who chooses to be paid on a debit card instead of a paper check.

“Many employees in the c-store industry are unbanked or underbanked—leaving them with limited options to manage their finances,” Bill Deichler, NACS director of payroll solutions, told NACS Daily. “NACS recognized this need and worked to create the NACS Money Network Payroll Solution. At its core, it’s a payroll card program that allows employers to pay their employees on a debit card that provides all of the same benefits of a bank account—without the associated fees or ability to incur overdraft charges. We’re offering a payroll solution that empowers the unbanked and underbanked employees.”

The highlights of the NACS program are:

Employer benefits:

  • Helps to reduce payroll expenses and administrative burdens.
  • Helps maximize electronic pay of all employees.
  • Helps to meet payroll distribution compliance requirements.
  • ACH funding of employee accounts using current process for direct deposit.
  • Provides ongoing bilingual support to communicate to a broad employee base.

Employee benefits: 

  • Pay is deposited directly into the Money Network® Account on payday with instant access. No need to pick up a paper check or incur check-cashing fees.
  • Money Network MasterCard® Paycard (Card) and Money Network® Checks (Check) provided. Is FDIC insured so their pay is always secure. Program does not allow overdrafts, so there are never any overdraft fees.
  • Total access to their pay to the penny at no charge by presenting their Card at any MasterCard bank, or by cashing a Money Network® Check at a participating location.
  • Cash withdrawals from In-Network Allpoint® ATMs.
  • Account management one of three ways: Money Network® Mobile App, online or by phone.

Key free program features:

  • Make purchases. Employees can use the Card wherever MasterCard Debit Cards are accepted in stores, online or by phone.
  • Write Money Network® Checks. Employees can write themselves a Money Network® Check each payday and cash it at participating locations to get 100% of their wages without charge.
  • Pay bills. Employees can visit billers’ websites to pay bills online using the Card, or they can pay with a Money Network® Check.
  • View account balance. Employees can view account balance and transaction history by using the Money Network® Mobile App, visiting moneynetwork.com, or contacting customer service (the toll-free number is provided on the back of their Card).
  • Manage account. Account balance alerts can be received daily or weekly via the Money Network® Mobile App, text messaging “1” or email.

You can learn more about the NACS Money Network Payroll Card Solution here.

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