In today’s electronic world, increasing numbers of employers are offering their employees Direct Deposit of their payroll instead of issuing paper checks.  However, many businesses employ individuals who either do not qualify for bank checking accounts, or they frequently travel and have difficulty receiving and cashing checks while they are out of town.

To meet the needs of these business customers and their employees, Whitney has introduced the Whitney E-Z Pay Card.

What is the Whitney E-Z Pay Card?

The E-Z Pay Card is a special VISA® debit card that allows business customers to offer Direct Deposit Payroll Services to their employees who do not have bank checking accounts.  Instead of receiving a paycheck, the employees can elect to have their net pay deposited into a special account at Whitney where they can access their payroll via the Whitney E-Z Pay Card.

Who can offer Whitney E-Z Pay Cards?

Business Customers have the option of using either a third-party payroll processor (e.g. ADP, Paychex, QuickBooks, etc) to provide Direct Deposit to their employees' E-Z Pay Cards, or they may elect to use Whitney's ACH payroll origination service.

What are the benefits for the Business Customer?

• Reduced payroll administration costs
  
• Employees don't have to stand in line to cash payroll checks on payday
  
• Ability to provide payroll to employees who frequently travel and need to have convenient access to their funds while on the road
  
• Simplifies reconciliation of payroll accounts
  
• Reduced number of payroll checks issued and the associated costs of preparing and mailing them to employees
  
• Provides a more convenient and cost-effective payroll option to employers
  
• No more replacement of lost or stolen paychecks

What are the benefits for the Employees?

• Net payroll is available to the employee on payday
  
• The Whitney E-Z Pay Card can be used anywhere that VISA debit cards are accepted
  
• Ability to receive cash back on PIN purchases (provided the merchant offers this option)
  
• Employees avoid costly fees at check cashing stores
  
• No more waiting in line to cash payroll checks
  
• FREE access to funds at Whitney ATMs 24 hours a day, 7 days a week
  
• Employees who travel have convenient access to their payroll on payday when they are away from home
  
• Ability to make electronic and online payments for products and services
  
• Reduced risk of lost or stolen checks and cash
  
• Employee payroll funds are FDIC insured

For more information, contact a Whitney Banker near you today or call 866.949.6790.