Direct Deposit Program
Help employees minimize the cost of accessing their money while your business saves time, money and resources. For employees, a paper check may mean being at the mercy of high-fee check cashing services; prepaid cards offer a cost-effective solution to money management for employees.
With Capital Prepaid Services' prepaid cards, on payday, employees may choose to have their pay loaded to a prepaid card without having to leave the office to cash their paycheck. This is convenient for companies that have a geographically distributed workforce and want to eliminate the hassle of mailing paychecks. Increasingly, businesses are paying employees who choose not to maintain a bank account with a prepaid card. Prepaid cards do not require a credit check or a bank account, as they are prefunded.
For businesses, reloadable prepaid cards offer a cost-effective alternative to issuing paper checks, which helps employers achieve high employee direct deposit participation — maximizing your cost savings.
Capital Prepaid Services has partnered with Banks to provide a General Purpose Reloadable (GPR) Visa® Prepaid Card that enables you to:
- Strengthen employee relationships
- Minimize costs by maximizing participation — minimize risk
- Diversify pay options
- Provide value add benefits to your employees
Who Would Benefit from Prepaid Cards?
- People who don't have or want a traditional checking account
- People who manage finances primarily by cash
- People who need to pay bills or transfer money
- People who make frequent online purchases
- People who have checking accounts with a high minimum balance requirement
- People who need to reserve rental cars, hotels, or airline tickets
Benefits for the Employer:
- Adds convenience for employers who have a geographically distributed workforce by eliminating the hassle of mailing checks
- Eliminates time and expense of issuing paper checks
- No more stop payments
- No more mailing checks
- No more reissued checks
- Provides an environmentally sensitive pay solution (IT'S GREEN)
Benefits for the Employee:
- Funds are immediately available - No waiting on bank floats or funds availability
- Funds are protected by the same rules as a Visa debit card attached to a checking account
- Eliminates the hassle and expense of cashing checks
- Offers the purchasing power of a Visa debit card
- Mobile app available for iPhone and Android
- Pay bills using the card
- Load cash onto the card at 30,000 retail locations
- Load checks using a smart phone
What Capital Prepaid Services Does for you:
We provide a turnkey system that includes all card and transaction processing along with employee customer support.
Additionally, we provide the following:
- Employee educational and enrollment packets
- Employer Training
- Instant Issue Cards
What's Your Role in This Relationship?
- You make the BlazePays Visa Prepaid Card educational and enrollment packets available to current and new employees
- Assist employees in completing application
- Assure your employees you cannot see their transactions and that their funds are FDIC-Insured
The Process to Offer Prepaid Cards to Your Employees:
- 1Schedule a meeting with one of our account executives to review the program
- 2Mutual signing of a Non-Disclosure Agreement (NDA)
- 3Mutual Due Diligence
- 4Sign Marketing Agreement
- 5Establish Implementation Timelines
- 6Setup Program
- 7Distribute Education and Enrollment Packets to Employees
Get Started Today
See if a prepaid debit program makes sense for your business.