Here is a great convenience for your company, saving lots of time and money while delivering a great bundle of gifts for your employees, whether they have existing bank accounts or not.
I remember when staffing companies paid day laborers in cash. Small, brown, sealed envelopes with an outside printed format for names and withholding details.I remember because I was paid that way on a number of occasions while in college.
So, when this trend of paying day laborers and many others via debit cards began, I cheered. It is another great, technology enabled, advance. Seamlessly built into your company’s staffing software, so that, no matter where the workers are located, they are paid instantly via auto loading their previously issued, debit cards. No counting rooms, no cash envelopes, no delivery couriers, no check cashing fees, no postage, no security concerns, just a click and done. Wonderful for the employer and the employee.
But I never really considered the full list of “side” benefits that are not only very useful to but have the additional effect, for many thousands of workers, of bringing them into the mainstream of the commercial world.
Let’s open the Basket:
Visa Debit Card: First, you have the visa debit card that can be used wherever Visa cards are accepted (virtually anywhere). You can use it to receive cash at ATM’s with no fee at over 1,500 locations and at thousands of others with a small fee just like any other debit card. A “Locator” tool(see below) is on your Money Network App(See below) which is available for instant download at Google Play (Android phone)or the APP Store (iPhone).
Write Checks. Since the employee now has a bank account, they can also be issued checks to pay bills by mail or send money anywhere without money order fees, Western Union, etc. (I should mention here that Debit card programs may differ, and I am only speaking about the system our company uses in conjunction with “The Money Network” which, by the way, during the Pandemic, the U.S Treasury Department used The Money Network to send millions of debit card stimulus payments to people without known checking accounts). For many without bank accounts, the ability to have and use a Debit card and Checking account also has the additional effect of mainstreaming people producing a nice lift in self-esteem. And there is a lot more!
The MoneyNetwork’s Mobile App
Mobile Apps are cool! Millions use them for thousands of activities. This App becomes integrated with the individual bank account ad is used to manage the account and has some great additional functions that many banks do not offer.
“Digital Wallet”for contactless payments. Just point your cell phone to the cashier at participating vendors (Starbucks for example) and they will pick up your Debit cards info instantly, and the bill is paid. It moves those holiday lines a lot faster!
Piggy Banks. Have a few things you are saving for? Direct money to some or all (the App has 6) and whenever money is directed to any one or more of these titled “piggies” (savings accounts) you can see the balance in each one instantly on your APP. It can accrue in each, be relocated to other accounts or withdrawn. To those not used to saving, it’s a great learning experience and actually fun to see the growth as it gets closer to the fulfillment of any goal whether it’s a trip, concert, clothing, holiday gifts, or vacation.
Locator for No Fee ATMs
Just plug in your location on the APP to find no-fee ATMs near you where you can use your MN Visa Debit card. Also locate places where you can reload your card with other sources and not just the employer’s loading of pay checks.
Right there on the App you have nicely laid out graphic tools where you can organize the various expenses in your budget rent, auto, cable, groceries, etc., and where you can allocate funds, set budget limits etc., A nice simple way to begin budgeting.
Card Lock and Unlock
If your Debit card has been lost or stolen,or misplaced,you can instantly lock the card and when it has been found re-open it right there on the MN Mobile App. You can do this instantly without looking up phone numbers, making phone calls, or being “on hold”.
Use your mobile App. To select, send or store gift cards from over 200 retail stores and restaurants, and even an Uber gift card. It is so easy to buy and send right on your phone that it will be hard to ever forget to send out an important gift.
Just get the free App “Gyft” which will link up your phone, bank account and email program. You can also go to the Gyft website and use their quick form to have the link to download the App sent directly to your phone.
You can also use your App to send money to another bank account in the US, Mexico, or Europe. If a family member away from home is running out of money you can send debit card funds directly to their bank account so that they can use their own debit card to get the funds they need immediately.
Set up account alerts to send a notice whenever a direct deposit is received, or when an account gets low, withdrawals are made, or other notice about activity in the account.
In the Budgeting tool on the App there are eight categories where you can set up spending limits. You can have each category of spending send you a notice when you have reached that amount or are close to it.
So, the “IPay Cash Card” is not just a debit card, but a great “Basketful of Benefits” that come right along with this fully integrated software feature at no added cost to your company yet a nice set of tools that will be appreciated by your employees.
As Always, Stay Safe and Continue to Pray for Ukraine, Israel, and Gaza.