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CardEx Payroll Cards are reloadable prepaid debit cards that are designed for
and distributed by, respectively, corporations with multiple employees and
financial institutions. Payroll Cards allow corporations, as employers, to
apply their employees' wages onto the card each pay period. The cards are a
cost-effective alternative to cutting, printing, and mailing paper payroll
checks, and help employers avoid fraud costs associated with loss and theft of
such checks. Employees can then use the card for purchases at any Visa
or MasterCard location
worldwide, as well as access their earnings at ATM or POS terminals.
Additionally, for employees under-served in their financial institution
relationships, receiving earnings on a payroll card eliminates the often high
expenses related to check-cashing merchants.
Financial institutions providing banking and/or payroll services to commercial
clients, find that CardEx Payroll Cards are an exciting, value-added compliment
to their existing product offerings. By issuing Payroll Cards, a bank can
strengthen its asset base and commercial customer relationships, while also
enjoying the benefit of decreased non-customer lobby traffic for check cashing.
Below, we've answered general questions that detail how the CardEx Payroll Card
program works, and how it can benefit your organization.
General Questions
Q: Who is CardEx and what do they do?
A: Card Express, Inc. (CardEx) provides a standard
Payroll Card Program featuring the MasterCard or Visa logo. The company is a
technology-driven developer of numerous prepaid debit card products and
services. These software and online innovations are designed to consistently
offer sales and customer service experiences that exceed your expectations.
CardEx has been a pioneering presence in the prepaid debit card industry since
1995 and enjoys a reputation for world-class service with strong emphasis on
infrastructure and technology innovation.
Q: How does a CardEx Payroll Card Program differ from a typical
payroll application?
A: Our prepaid Payroll cards are MasterCard or
Visa-branded and are similar to regular credit and debit cards. Employers fund
the card with an employee's net earnings. Specifically, the employer sets up
employee accounts through a customized, web portal and funds their employee
payroll cards individually or through a batch process via file or ACH. Due to
the nature of the program (individual credit histories are not considered), all
employees are preapproved. The production, distribution and reconciliation of
paper checks are eliminated, reducing the overall payroll expense. Most
importantly, little or no changes are required to the existing payroll process.
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Establishing a Payroll Card Program
Q: How do I design and develop my program?
A: When you offer a Payroll Card
Program, you will determine its rules and parameters,
including its:
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Employee recipient list
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Funding method |
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Load amount limits |
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Withdrawal limits |
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Card design, packaging and distribution |
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Card PIN determination |
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Web Portal access (both view and update authorization information) |
A: Knowledgeable CardEx Implementation Associate will
work with you to establish the parameters and set up your program. Prior to the
program launch, this Associate will provide training and support related to
managing the program via the web Portal.
Q: How and when will I use the Portal?
A: The Portal is used for basic Program Administration
functions, as well for generating multiple reports, which enable you to easily
and effectively manage all program aspects. Specifically, access to the Portal
allows you to:
Enroll
employees to create a card
Open
and close employee accounts
Update
employee information
Fund
card accounts
Transfer
funds to the financial institution
View
card funding history
Highlight
or flag any program issues
Access
standard daily, weekly and monthly reports
Q: How do I implement the program with my employees?
A: CardEx ensures easy customization by providing
program templates and document samples for enrollment, marketing and employee
training. Guidelines for using the documents and rolling out the program are
also provided. (However, you are responsible for your own legal/compliance
review of the product materials.) In addition to understanding the payroll
program, it is important that your employees learn to access the Portal to view
their personal account and transaction history.
Q: What if I need to terminate one of my employees enrolled in the
Payroll Card Program? Or otherwise close
their access to the program?
A: As an employer/program administrator, you can close
card accounts directly through the Portal following a defined process that is
outlined in the training process. Cardholder accounts can be closed as a result
of employee termination, or card fraud or abuse. An employee cardholder, can
opt out of the program due to job resignation or other voluntary reason. If the
cardholder wants to voluntarily cancel their Payroll Card they must complete
and submit a cancellation form. Upon the closure of the account, any balances
remaining (after applicable fees or recovery) are remitted to the cardholder.
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Using Payroll Cards
Q: Where and when can an employee use
their Payroll Card?
A: Once the card has been activated
and funded (scheduled paydays) the cardholder can use
it at any worldwide location where MasterCard or Visa
is accepted, as well as at ATM or POS terminals displaying
the MasterCard or Visa logo. They can access their funds
up to the balance on the card. There are no overdraft
capabilities on these cards, nor check writing capabilities.
The Payroll Card eliminates the process of cashing a
paper check or carrying large amounts of cash. Most
importantly, employers replenish the same card, each
payday. Employees can access a user-friendly online
Portal to view account balance, transaction history,
or change an account password, among other functions.
Q: Can the Payroll Card ever have a
negative balance?
A: Technically, no. Any authorization request that is
greater than the card's available balance will be declined. However, sometimes,
a merchant allows a purchase without prior authorization or forces a
transaction through the system. If this happens and the cardholder exceeds
their card's limit, they will be billed for the excess amount, plus applicable
service fees. It is important that your employees remember to keep track of
their account balance in order to avoid this issue. You will be able to track
any negative balance activity though both the Portal and program reports.
Q: What if the Payroll Card is lost or stolen?
A: Employees must immediately report a lost or stolen
card. They can use the Portal or call Customer Service at +1.888.801.3770. The
cardholder can contact us 24-hours a day, seven days a week. A replacement card
will be sent, minus a reissue fee that will be deducted from the card balance.
As long as the lost or stolen card is reported immediately, the cardholder will
not be responsible for any unauthorized charges. Also, for additional
information, cardholders should review the Terms and Conditions statement that
was included with their card.
Q: What happens if an employee needs to
return an item they purchased?
A: Each merchant location has its own return policies
and will handle the returns in the same manner as any other MasterCard or Visa
transaction. They may credit the Payroll Card, provide a cash refund, or issue
a store credit.
Q:Can a CardEx Payroll Card be used for online purchases?
A:
Yes, CardEx Payroll Cards enable you to shop online. A cardholder can
place orders with their favorite web merchants up to the limit on their Payroll
Card.
Q: Is a 4-digit PIN number needed to use a Payroll Card at a
merchant?
A: No, a PIN number is not required. When the employee
makes a purchase, CardEx Payroll cards are handled like any credit cards: The
store clerk simply runs the card through the machine to capture the necessary
account information. It is important to remember that a Payroll Card has the
cardholders net pay loaded on it as cash funds. Those funds are accessed
without a PIN, unless used at an ATM or POS terminal.
Q: Can an employee get cash back from any unused portion of the
card?
A: Typically, an employee will not receive cash back on
their purchases. The Payroll Card is a prepaid debit card. Every time it is
used, the purchase amount is deducted from the available balance until that
balance reaches zero. For example, if the available balance is $50 and a $40
shirt is purchased the $10 difference will remain on the card and become the
new available balance. Sometimes, in the case of returned items, a merchant may
provide a cash refund.
Q: How can an employee check their Payroll Card balance?
A: Or track where they have used their Payroll Card? It
is wise for an employees to periodically check their account balance. The
employee can log on to the Portal, click on "Card Balance", and enter their 16
digit Account Number, followed by their Access Code. Pressing the "Check
Balance" button reveals the balance information. To obtain their transaction
history they would remain in the Portal, click on "Transaction History", and
enter their 16-digit Account Number, followed by their Access Code. Pressing
the "View History" button reveals their transaction information. If an employee
does not have Internet access, they can call CardEx Customer Service at
+1.888.801.3770 for assistance.
Q: Can an employee pay their credit card bills with their Payroll
Card?
A: Credit card, utility, or other companies that honor
debit cards as a form of payment will also accept the Payroll Card.
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