Portland, Ore. (PRWEB) May 01, 2013
TFG Card Solutions, a leading payroll card company, celebrates National Direct Deposit and Direct Payment Month this May by encouraging employees to sign up for checkless paydays with debit payroll cards.
The National Automated Clearing House Association (NACHA) set aside the month of May in celebration of direct deposit, and since then, the initiative has been quite successful—more employees now have their paychecks deposited directly into their bank accounts than ever before. For employees that do not have bank accounts, pay cards are a great alternative.
“At TFG, we’ve helped more than 2,000 employers increase direct deposit participation by providing a pay card alternative to paper checks,” said Lindsay Wilson, Marketing Manager at TFG Card Solutions. “We offer flexible options and packages, customized to individual businesses, to help maximize participation among all employees. This includes a full-service onboarding program, educational materials, bi-lingual support and dedicated account managers to help businesses and its employees during every step of the process.”
There are many benefits to direct deposit and direct payment to pay cards. For employers, fewer paper checks are better for the bottom line because it helps streamline payroll processing time and resources. An optimized accounting process also improves cash flow management, simplifies receivables and payables, and frees up valuable time that managers can spend to grow the business.
According to NACHA, companies can save up to $3.15 per payment by using direct deposit instead of paper checks. Direct deposit can also decrease the risk of check fraud and identity theft associated with paper checks. At the heels of Earth Month in April, it is also important to consider the sustainable benefits of electronic payment options, such as decreased waste and resources in the production of paper checks.
For employees, the convenience of direct deposit allows for quick access to pay funds, ease of money management, and of course, peace of mind. According to NACHA, 97 percent of people who use direct deposit via ACH are “very satisfied” with the service, and more than 500 million bills are paid each month with direct payment.
TFG Card Solutions offers resources for both employers and employees on its website, including access to informational webinars, links to Visa® resources and an annual savings calculator. For a free savings report, contact TFG Card Solutions today.
About TFG Card Solutions, Inc.
TFG offers free payroll debit card solutions that help businesses of all sizes increase direct deposit participation, maximizing their current direct deposit system and empowering unbanked employees. Payroll debit cards save both the business and its employees money every single pay period. For more information, visit http://www.tfgcard.com.