Learn How Your Business Can Save Big Bucks With Debit Cards.
Jun 26, 2009 Credit Card
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Debit cards have become a great way for businesses to make major purchases! Not only is it convenient, but there is no need to wonder or worry about which companies will take a personal check.
Debit cards can be used anywhere credit cards are welcome, even the Internet. And there is no need to worry about going over credit limits and there is no interest charged on purchases. In a world where spending more than you can afford is a major concern, debit cards are a welcome convenience; the cards can only be used if there is money available in the checking or saving account it is attached to.
If you are looking for a better way to control expenditures, the debit card is the answer. The bank will not allow you to spend more money on a purchase than is in your account. And a prepaid debit card allows you to send and receive money quickly and easily.
Just what is a prepaid debit card? A prepaid debit card is like a regular debit card only you “load it” with a certain amount of money and that’s what the value of the debit card is. A prepaid debit card is great for payroll solutions. Many payroll services rely on a prepaid debit card to send money to their employees.
Prepaid debit cards can save a business the time and expense of writing payroll checks. Save money on employee hours, and get the payroll done on time, every time. And your employees are happy because the money is in their account as soon as the transaction is completed.
A company that employs ten people will be able to save a minimum of $2 per check each pay period. If they were paying bi-weekly, they would issue twenty-six checks per year for each employee. Allowing for the minimum amount of savings, $2 per check, the yearly savings would be $520. And that does not include any of the other banking fees, which could be saved.
Some banks may pass that savings on to their customers, which could result in a lower charge for banking fees. Debit card and prepaid debit card solutions can be the answer to payroll expenses for your business.
The same company that has 300 employees will really benefit by having their payroll services use a prepaid debit card to send money to their employees. With the same check price as up above, the company will save $15,600 per year by using a prepaid debit card vs. writing checks and approximately $78,000 over using wire transfers to send money!
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Tags: business, Credit Card, Debit Card, Education, Finance, Financial Education, Master Card, personal finance, send money, Visa
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