Considering the widespread economic crisis, business owners can use payroll services for a cost-effective alternative to the traditional practice of issuing paper checks to employees, clients, and affiliates. Some outsourced payroll solutions such as EPAY’s allow business owners to avoid bank transfer fees and associated payroll costs by issuing debit cards directly to their beneficiaries instead. This is helpful for small and medium-size business owners. In addition to avoiding bank transfer fees, business owners enjoy online banking, time savings, and even reseller programs.
The payroll system also benefits individuals because it eliminates check cashing and bank transfer fees. Employees and other beneficiaries have instant access to their money at millions of ATMs worldwide. Business owner-issued debit cards are also usable both online and in POS transactions. For employees who work for more than one company that subscribes to a payroll service, the company-issued debit card is especially convenient because it can be capitalized by more than one source, avoiding the hassle of multiple employer-issued debit cards.
With the economy in a tough spot, employers need to be smart about reducing their overhead costs and individuals need access to all of their available funds to make their housing, credit card, insurance, utilities, and other payments. Consider an outsourced payroll solution for your employees, your affiliates, your clients, and yourself.