UPDATED: May 8, 2020 – These days, cutting checks is becoming less of a trend and employers are leaning more towards the less expensive and more convenient and eco-friendly direct deposit as a payroll option.
Close to 10 million American households aren’t bank members at all and 5 million Millennials say that they don’t even want one due to their distrust of banks.
So what’s a company to do? Payroll cards are the option that many employers are turning to in order to save company and employee money while doing their part to protect and preserve the environment.
Netspend as a company offers a multitude of different prepaid debit options, but their Skylight One Card is set apart from the rest. In conjunction with Skylight Payoptions, this card not only acts as a versatile prepaid debit card, but also assists in helping make payroll convenient, simple and completely paperless for employers and employees alike.
Now, employees can take control of their money by paying their bills online, review their information and withdraw their wages in cash, all through the same account.
The Corporate Portal of this payroll program simplifies the process fund distribution by allowing employers to audit their program, monitor their account usage, create personalized reports and distribute funds, all just with a few clicks of the mouse.
Netspend takes over the brunt of the work when it comes to enrollment and distribution of cards.
All employers need to do is provide employee information, and netspend takes care of the rest with their built-in card inventory management system and shipment personalized cards to the designated employees, saving employers loads of time.
The portal also features a few different options when it comes to adding value to these accounts.
Employee data is just a click away, making it simple to run reports and provide electric W2 statements that are already formatted to the current IRS requirements.
Skylight One Card Benefits For Employees
With their very own login, employees have free access to the variety of benefits that a Netspend program provides.
They will be able to view their complete wages, total balance and even pay bills, all through their personalized Online Account Center.
The employee Skylight Pay Card program features online account access, POS cash back options, a mobile app, tools for budgeting their finances and prescription savings cards.
Employees have the option of receiving their wages via direct deposit to their account, over the counter cash from a Visa or Mastercard Member bank, or for those that prefer a paper option, a no-cost Skylight Check that can be cashed at over 8800 locations across the nation.
How Cardholders Can Reload
In addition to direct-deposit, employees are able to add money to their accounts by visiting one of the Netspend Reload Network Locations available across the United States. Bank Transfers are also an option from virtually any national bank checking, savings or debit account.
For those who don’t have a bank account, cardholders can also transfer funds between other Netspend Prepaid programs, Paypal and even by Electronic Tax Refund deposit.