How to choose and issue a salary card

Many large companies have realized that a salary card is very convenient and profitable. For both the owner and the employees.

What is a salary card?

From the name it becomes clear that the salary card is used by the employer to transfer funds to its employees. In order to receive individual salary cards for each employee, a legal entity have to sign a contract with a particular banking institution. This is necessary for timely maintenance.

Such cards do not limit the company’s employees in terms of the use of funds. After all, they can be paid at any point of sale, and if necessary, you can cash out funds at any ATM on very favorable commission terms.

The cards are also suitable for those who make purchases online. After all, there are all the necessary details for payments. At the same time, using a specialized card is safer than using your main account.

Today, the best salary cards are debit cards. This way you will avoid unnecessary expenses, because you will be able to spend only the amount that was actually credited. Using such a card on a regular basis allows you to rationalize costs and manage your existing income more intelligently. The card can also be used to accumulate funds on favorable terms for the client.

But some financial institutions still offer their clients the opportunity to exceed the limit. This is the so-called overdraft, when you will have to return the amount used over the limit at the next transfer of funds. At the same time, the banking institution has a certain percentage, set individually. The amount that you can use over is also fixed.

To simplify the process of paying wages, most business owners decide to order a salary card. After all, this allows you to save time, while controlling the frequency of payments. After all, the report on the transfer of funds is saved in your personal account, so you can view it at any time.

Such cards are not much differ from standard debit cards, because they have the same banking details. But the main difference here is that the employer, and not the actual owner, pays for the card service. But the functionality at the same time is more limited, so some functions simply will not be activated.

The card remains active even after being dismissed from the company. But at the same time pay attention to the period of use. If it expires, you will not be able to restore the card yourself.

Main advantages

It is useful, if you need a salary card, which will better help you to decide what functionality the employer and each individual employee receives. It is also important what guarantees the banking institution provides to customers.

But such a card, when compared with a number of other options, has a huge number of advantages. The main one is the simplest possible mechanism for receiving wages. After all, there is no longer a need for physical presence, which is convenient not only for remote employees. After all, no more queues and wasting of time. Strictly at the specified time, the money arrives at the bank, after which it is instantly distributed to employees.

Also, it is also worth issuing a salary card for security purposes. After all, today the use of cash has a number of disadvantages and entails certain risks. If you lose your card or it turns out to be with scammers, you can block it in a matter of minutes. So your money will be completely safe.

An individual salary card allows you to optimize all financial deals. After all, you will get access to your personal account, so you can manage funds using a website or application, controlling all operations. You will be able to use this card to pay all bills, as well as carry out a number of other operations you need. The salary card even allows you to pay fines, any utility bills, Internet and mobile communications. Wide functionality will help you save a lot of time and optimize processes.

There are also many other additional features available that will simplify your life. For example, the WestStein prepaid card allows you to make purchases online with a high level of security. After all, you can use the card with your smartphone. So you no longer need to enter confidential information and your personal data.

A reliable virtual debit card allows you not to use a physical card, which is also an additional guarantee that you will not lose money and will not become a victim of fraud.

Moreover, you can order a prepaid Mastercard card online, literally in a matter of minutes, regardless of where you are physically. To do this, you only need Internet access. Save time, money and manage your money efficiently with the help of modern solutions.