As Seen in PAYTECH Magazine April 2007
Feature Product Review
achieving 100% direct deposit has never been So easy
FirstView Financial Offers Portability, Ease of Use With Espree MasterCard® Payroll Debit Card
By Lauren Thompson
E
very payroll professional’s job is tough, what with all of the compliance issues, paycheck deadlines, and account reconciling. In this age of automation, more and more employees are transitioning to direct deposit, helping to eliminate the need for paper paychecks. However, the challenge historically is that only employees with bank accounts have the opportunity to take advantage of direct deposit. Why should unbanked employees miss out on the perks of direct deposit when there’s already a technology that will give them the power and prestige of a MasterCard-branded payroll card? Paycards, also known as payroll debit cards, are the solution to a problem that has continuously plagued payroll professionals and their organizations. With the implementation of the Espree Prepaid MasterCard ® by FirstView Financial, paper paycheck worries like fraud, overpayments, and counterfeiting are a thing of the past. FirstView’s Espree Prepaid MasterCard is a prepaid debit card that can enable your organization to achieve 100% direct deposit—even for unbanked employees. The Espree Prepaid MasterCard works much like a bank account debit card. The funds available on the card are equal to those that would be deposited in the account via direct deposit. But because the Espree Prepaid MasterCard works like a debit card, there are no security deposits, high interest rates, or lines of credit for the cardholder, which means past credit problems or bankruptcies are not a factor in the application process. Cardholders can use this MasterCard-branded card to
pay bills, make online purchases, and make purchases anywhere that MasterCard is accepted worldwide. For employees with past credit issues or those who are simply temporary or contract workers, the Espree Prepaid MasterCard is the perfect way to receive wages without a bank account.
Paying the Unbanked
Direct deposit is a payroll p r o f e s s i o n a l ’s d r e a m , b u t i t ’s impossible to set up direct deposit for employees without bank accounts. The banking industry estimates there are between 30-35% of employees that are unbanked. FirstView’s Espree Prepaid MasterCard works exactly the same as any other standard employee direct deposit. So your company’s software or IT department incurs no extra work. In fact, all you do is enter the Espree card’s ABA/routing number provided with each card, and you’re done. Payroll debit cards are a good idea for anyone looking for easy access to their money, but it is especially ideal for industries with low direct deposit participation, such as: • Retail • Restaurant • Hospitality • Entertainment • Transportation Contact • Contracting/landscaping Linda Kearns • Temporary staffing 800-936-4360x119 • Seasonal staffing • Manufacturing For Additional
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24 April 2007
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Feature Product Review
FirstView’s Espree Prepaid MasterCard is optimal for entities that want to use direct deposit for: • Paychecks • Social security payments • Unemployment benefit payments • Child support • Tax refunds • Judiciary settlements • Any type of electronic payment Employers will experience significant savings through the elimination of paper paychecks. Payroll debit cards can also save money for employers by reducing paycheck reissuances and check fraud. Even bonuses, incentives, and monetary awards can be issued using payroll debit cards. For employees, the benefits of a payroll debit card are just as rewarding. Like employers, employees will save money by not having to incur the high cost of check cashing fees. Even though employees may be subject to fees for some ATM withdrawals, FirstView lessens this cost by giving each employee one free withdrawal per pay period. And since FirstView’s payroll debit card is MasterCard-branded, the need to withdraw cash is no longer as great as with paper paychecks as the card can be used anywhere MasterCard debit cards are accepted. Everyone remembers the devastating effects of hurricanes Katrina, Rita, and Wilma in late 2005. For many evacuees, receiving their pay was a struggle. But those with direct deposit or payroll debit cards could still access their pay easily, even in the wake of this natural disaster. To create a disaster preparedness plan for your own company, you should consider payroll debit cards as a means of providing secure, accurate, and timely funds to your employees.
About FirstView
FirstView Financial is a private provider of worldwide electronic transaction processing solutions. The company currently processes more than 1.6 million financial transactions a month, totaling more than $2.6 billion annually. With the FirstView Espree Prepaid MasterCard®, customers have PIN-less access to their funds. FirstView maintains relationships with seven U.S. banks, strengthening the company’s reliability and stability. The organization has several software partners and certifications to create a robust, open architecture. FirstView Financial’s executive management team also has years of experience in transaction processing, giving FirstView a comprehensive understanding of payroll debit cards.
and instructional manuals. FirstView prides itself on offering a comprehensive, step-by-step guide for employers implementing the new payroll card system, helping ensure success throughout the process. The company even offers marketing techniques and tips for employers to help encourage employees to join the program. What’s more, FirstView is committed to providing customers the tools they need for successful implementation. For example, FirstView provides customers with a 100% Direct Deposit Participation poster and, in the Implementation Guide, gives customers the intended purpose and suggested use of the poster, as well as contact information for FirstView should employees have any questions or concerns. If employees are concerned they will not have access to their funds during the transition time, have no fear. Employees can be given an Instant Issue card. Once the employee completes the direct deposit authorization included with the instant issue card, the employee will receive their personalized card in the mail within 5-7 days. However, in the meantime they will be able to use the Instant Issue card anywhere MasterCard is accepted, until they receive their personalized card. This way, the employee will never be without access to their funds.
eaSy imPlementation
So why isn’t your company on a paycard system? If you’re afraid that implementing a paycard system can be cumbersome and difficult, think again. With FirstView’s payroll cards, implementing a system that will make sure your employees receive their money in a timely manner is easier than ever before. FirstView works with each company to ensure an easy and individual implementation process. To help companies make the transition from paper paychecks to payroll cards, FirstView provides its clients with employee promotional materials, enrollment forms,
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Feature Product Review
FirstView Financial strives to make the transition from traditional checks to FirstView’s Espree Prepaid MasterCard as smooth and simple as possible. FirstView’s Implementation Guide and top-of-the-line customer service will guide the employer from start to finish throughout the implementation process.
Customer Satisfaction
National Security company Norred & Associates saw firsthand how FirstView can improve daily company life. In just two months, Norred & Associates saw their direct deposit rate go from 39% to 72%. “The implementation of the Espree MasterCard® has been a huge success!” said Adia Tarrance, of Norred & Associates. “Not only do our employees love receiving their money quicker and without the hassles of the possibility of lost checks, they really enjoy the benefits of using a MasterCard product. The Espree MasterCard and the customer support team are a winning combination.” FirstView’s Espree Prepaid MasterCard saved the America Reads-Mississippi AmeriCorps Program $12,900 annually. Before implementing the payroll card program, monthly payroll mail-out required two people to copy, package, and send checks to 270 AmeriCorps members at 59 public schools across Mississippi. Not only does America ReadsMississippi save money with FirstView’s Espree Prepaid MasterCard, they also save valuable company time. “FirstView has increased productivity, decreased cost, and enhanced member satisfaction,” said Carlotta Brown, Finance Specialist at America Reads-Mississippi. “Overall, we are very pleased with the FirstView Financial Services payroll card product as well as the excellent customer service we have received.” Employees with AJR Inc., which is the Atlantabased McDonalds franchise, have enjoyed the benefits of direct deposit participation that the Espree MasterCard program has brought them without traditional bank accounts. “We have received outstanding service from the FirstView Financial team, which has made it very easy and convenient to implement the payroll card program,” said Sandy Engberg, Office Manager at AJR Inc.—McDonalds. If your company wants to experience some of the same benefits, contact FirstView Financial today!
the key to Customer Service
In 1998, FirstView founder Joe Meyer started the first direct deposit payroll card company. He knew then that taking care of cardholders—your employees—is the key to success. Payroll people are also customer-service experts. From the CEO to the part-time staffer, every employee is bound to ask questions about their paychecks at some point. And who answers these questions with a smile? The payroll department! In this same vein, FirstView offers 24/7 customer service. Whether it’s the payroll practitioner or the employee who has a question, FirstView is there to answer all your questions. FirstView even guarantees all questions will be answered and problems fixed as soon as possible by reliable experts. FirstView’s Employer Implementation Guide offers responses to almost any question or concern you might have regarding payroll cards. For example, the Implementation Guide answers questions regarding checking account information online. FirstView understands that its customers need direct, timely, and secure access to transaction information. To facilitate that, all FirstView processes are automated and work in real-time, providing customers with the latest information about their accounts right away, including 24/7 interactive voice response in English and Spanish, and Web access to their accounts. The bottom line is that FirstView is just as concerned about your employees’ pay as you are, and it understands that customer service is as important as the product itself. Good customer service on FirstView’s side means happy employees on your side!
For more inFormation
If you’re ready to transition to payroll debit cards, or you just want more information about the FirstView Espree Prepaid MasterCard, you can contact Linda Kearns, Director of Card Sales at FirstView, at (404) 806-7244, ext. 119 or lkearns@fvfn.com. Linda is available to answer your questions, address your concerns, and get your company on the path to 100% direct deposit! Call FirstView before the end of May 2007 and ask how your company and your employees can get started for FREE! Look for FirstView at Congress at booth #734.
26 April 2007
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