Consider the Business Benefits of Payroll Cards — and Keep Employees Happy
Somewhere along the way, we all learn about work, pay and access to funds. If we’re paid too slowly, our personal obligations can stack up and we can fall behind in our payments. But if our employer pays us on a regular cadence, our lives and planning have far more stability.
It’s with this notion in mind that many businesses—especially firms with over 300 employees—are turning to payroll cards over paper checks. Companies in a host of industries stand to benefit from payroll card programs:
- Wholesale trade
- Arts and entertainment
- Real estate sales and rental/leasing
- Agriculture, fishing and mining
- Repair and maintenance services
- Food services (deli, fast food, restaurants)
- Personal care services (hair, nail, spa)
Payroll cards also enable the unbanked or underbanked to participate fully in the digital economy: e-commerce, phone purchases and phone and online bill pay. Plus, with electronic protections against unauthorized transactions that may result from a lost or stolen card, payroll cards can be safer than carrying cash.
Payroll cards are accepted at any of the millions of businesses that accept debit cards. And payroll cards can be used for over-the-counter cash withdrawals at any Visa or Mastercard® member bank. Even workers who do maintain a banking relationship can find payroll cards provide faster access to cash than depositing a paper check and waiting days for it to clear.
For companies too, the cost-savings and efficiencies are notable. There are limited fees involved and payroll cards are far more cost-efficient than traditional paper-check methods.
Manually distributing a paper check costs a business about $3.00 in processing fees, postage and float,” says Elaine Szeto, Chief Product Officer, Western Alliance Bank. “Payroll cards reduce costs and streamline the process. Plus, employees appreciate the ‘green’ and hassle-free approach. It all makes so much sense.”
Many Finance Managers see payroll card programs as a key part of the Treasury Management relationship they have with their bank. Payroll card services integrate easily with existing software systems and can be executed anytime from anywhere using an online system. This is particularly helpful if employees are geographically dispersed, or to ensure employees get paid in the event of an office closure or natural disaster.
If you’re a business owner considering payroll cards for your employees, ask yourself these questions:
- How are we processing payroll?
- How much time goes into this process?
- Do we use paper checks or direct deposit?
- Is there an external provider who handles our payroll? If so, what are we paying them?
- What makes most sense for us and for our employees?
- How can we make payroll more convenient, affordable and safe for us and our workers?
- Do we want to save money on payroll processing?
Properly executed, payroll card programs provide a convenient and affordable solution for businesses while delivering a flexible, easy-to-use cash access tool for employees. Contact Bridge Bank to learn more about how payroll cards can improve your business—and keep your employees happy.
* Skylight PayOptions is provided by TSYS who is not affiliated with Western Alliance Bank or Bridge Bank.
Recent NewsBridge Bank and Tree Line Capital Partners Provide Senior Debt Financing to Support the Recapitalization of Goettl Air Conditioning by Baum Capital PartnersBridge Bank Welcomes Eric Sockol as Senior Vice President, Business Development OfficerBridge Bank Provides Senior Debt Financing to Support the Leveraged Buyout of Trade Supplies, LLC by Sole Source CapitalBridge Bank Welcomes Bob Curley as Chief Credit OfficerBridge Bank Upsizes Capstone Turbine Facility to $15 Million
Recent InsightsDon't Get Hooked: How to Spot a Phishing EmailThe Biggest Trends in Hotel Franchising - 2017 EditionThe Key to Wire Fraud Prevention: Out-of-Band AuthenticationMobile Banking Helps Businesses On The GoConsider the Business Benefits of Payroll Cards — and Keep Employees Happy
Honoring all who have served. We thank you. pic.twitter.com/aEmnInoP9HIn less than two weeks, we’ll be joining the more than 900 tech enthusiasts, entrepreneurs, premiere investors and… twitter.com/i/web/status/1… - about 1 month 1 week ago@HiddenGeniusPro we were very excited to be a part of this celebration. Thank you for the opportunity! twitter.com/HiddenGeniusPr… - about 1 month 1 week agoIt’s time for the puck drop! Wishing the @SanJoseSharks another terrific season in tonight’s home opener. Let’s go #Sharks!"Our business customers are looking to grow. And Western Alliance is right there with them with increased capital a… twitter.com/i/web/status/1… - about 1 month 1 week agoOur Capital Finance Group is excited to share that our client, Targeted Lease Capital, LLC., experts in equipment f… twitter.com/i/web/status/1… - about 1 month 2 weeks ago"The way we structure our credits is a point of pride in how we do business. It's part of why our customers see us… twitter.com/i/web/status/1… - about 1 month 3 weeks agoWe understand that no two businesses are exactly alike. That's why Western Alliance bankers tap a sophisticated sui… twitter.com/i/web/status/1… - about 1 month 3 weeks agoAll of us at Bridge Bank wish the @SanJoseSharks a great preseason game tonight against the Anaheim Ducks!Your friends at Bridge Bank wish everyone a safe and wonderful #LaborDay! REMINDER: In observance of the holiday,… twitter.com/i/web/status/1… - about 2 months 2 weeks agoOur #LifeSciences team is delighted to share its most recent transaction with @OmniGuide, a manufacturer of advance… twitter.com/i/web/status/1… - about 2 months 2 weeks agoBridge Bank is a proud sponsor of the @EastBayHaasAlum. Tonight they host their Annual Party welcoming new… twitter.com/i/web/status/1… - about 2 months 3 weeks ago"We know our clients and this market, and what's motivating this management team to innovate and persevere just add… twitter.com/i/web/status/1… - about 3 months 1 day agoWe are proud to support @Rhythmix1 as a sponsor of their Pour Your heART Out Benefit for the Arts Celebration takin… twitter.com/i/web/status/1… - about 3 months 1 week agoMarkets look to remaining monthly data amidst trade disputes. westernalliancebancorporation.com/bridge-bank-ho… - about 3 months 1 week agoWe are proud to sponsor the @LosAltosChamber 29th Annual Golf Tournament today. We hope all of the golfers particip… twitter.com/i/web/status/1… - about 3 months 1 week agoLifting up our communities is important to the people of Western Alliance. We live this value in many ways, startin… twitter.com/i/web/status/1… - about 3 months 2 weeks agoStarting from scratch in 2006, @RevolutionFoods has grown to now serve two million healthy meals per week in 1,000+… twitter.com/i/web/status/1… - about 3 months 2 weeks ago"Revolution Foods is a perfect example of a client that came to us early in the company's life cycle, and we have c… twitter.com/i/web/status/1… - about 3 months 3 weeks agoTomorrow night, Dale Marie Golden of @bridgebank will be speaking at the Oakland Empowerment Scholarship & Mentorin… twitter.com/i/web/status/1… - about 3 months 4 weeks agoOur #LifeSciences group recently helped @RareCyte, a #biotechnology company working to advance the boundaries of bi… twitter.com/i/web/status/1… - about 3 months 4 weeks agoBridge Bank is a division of Western Alliance Bank. Western Alliance was named #2 on the Forbes 2018 Best Banks in… twitter.com/i/web/status/1… - about 4 months agoBridge Bank is excited to be sponsoring the return of #PACTcapcon on Sept 26! twitter.com/PhilaPACT/stat… - about 4 months 2 days agoOur #LifeSciences Group is pleased to announce their recently funded deal with @abscibio, a #biomanufacturing compa… twitter.com/i/web/status/1… - about 4 months 1 week agoHappy birthday, #America! Your friends at Bridge Bank wish everyone a safe and joyous celebration! REMINDER: In o… twitter.com/i/web/status/1… - about 4 months 2 weeks agoOur #LifeSciences Group is pleased to announce their latest deal with @ardelyx, a #biotechnology company committed… twitter.com/i/web/status/1… - about 4 months 3 weeks ago#Dollar rallies to 11 month highs on rising interest rates and #EconomicGrowth westernalliancebancorporation.com/bridge-bank-ho… - about 4 months 3 weeks agoOur #LifeSciences Group is excited to announce their most recent transaction with @ARTASHair, offering the first an… twitter.com/i/web/status/1… - about 4 months 3 weeks agoDid you know? Bernard J. Cigrand is considered to be the “Father of Flag Day.” In 1885, he organized a group of sch… twitter.com/i/web/status/1… - about 5 months 4 days agoOur #LifeSciences Group is pleased to announce their most recent transaction with @Zipline_Medical a technology com… twitter.com/i/web/status/1… - about 5 months 5 days agoDue to the close proximity of the Golden State Warriors Championship Parade and activities, our Oakland branch will… twitter.com/i/web/status/1… - about 5 months 7 days agoCongratulations to the @warriors on their back-to-back championship! Our employees in Oakland are very excited that… twitter.com/i/web/status/1… - about 5 months 7 days agoWe were proud to sponsor last night’s SPUR event at San Pedro Market in downtown San Jose. You can learn more about… twitter.com/i/web/status/1… - about 5 months 1 week agoAs presenting sponsor of the 8th Annual #sjsueconsummit we want to extend our gratitude and many #thanks to those w… twitter.com/i/web/status/1… - about 5 months 2 weeks agoAre you wondering how the #economy can be as #healthy as ever if a lack of #housing is the #1 concern? You’re not a… twitter.com/i/web/status/1… - about 5 months 2 weeks ago