Home > Credit Card Articles > Direct Debit Versus Direct Deposit – The Debit Card Debate.

Direct Debit Versus Direct Deposit – The Debit Card Debate.

Todays Date: September 20, 2018

It is in the best interest of a business to do their payroll as cheap as they possibly can. That is why it is great that direct deposit is not the only option. Now, direct debit is available. When needing payroll solutions that work, this one does. And this is amongst the very valuable payroll services that you can invest in.

As for how it works, each employee is provided with a debit card. Instead of using their usual bank account, they can use this debit card and it is specific to the money they make from their job.

Each pay period, you, the business, deposit money onto each card for each employee. This is great because you can have their money there in a timely fashion. There are no paychecks to be lost because everything is done electronically. If there is a mistake, it can be corrected much faster this way. This eliminates many of the tasks that would have to be performed by the payroll department if a check is involved. If someone doesnt get their money, it is easy to trace.

As for what the employee does after the deposit takes place depends on the employee. Its their money, so they can withdraw it from an ATM machine by using the cards pin number or use the card as is. The employee can even withdraw the money and deposit it in their regular bank account.

All-in-all, the way the card operates is no different than using the usual card issued by a bank. Bills can be paid with it, groceries can be purchased with it, and it can be used at a gas pump.

Youre able to use the card in so many places because the card usually sports a Visa or MasterCard logo. This is important so that the card can be used as a credit card as well. This means not having to enter the pin number each time you make a purchase.

And on the payroll side of the business, the process is the same no matter if there are 10 employees or 300. The system is affordable and works the same no matter how many employees is a part of the system.

So if youre a business looking for better payroll solutions, direct debit through a prepaid debit card or prepaid credit card can help significantly. It is quicker, cleaner, safer, and great for all involved. You would be amazed how much manpower is saved through this method.

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