SecureChoiceSM Payroll Card
The SecureChoiceSM Payroll Card is a prepaid stored value card issued to your employees in place of paper payroll checks to distribute earnings, bonuses and prepay or reimburse expenses. Employees’ names are embossed on the cards, which also bear the Visa® acceptance marks. The cards are periodically funded by files sent to Illinois National Bank with each employee’s pay amount. Each card contains built-in spending limits, based on the employee’s payroll amount. The card may be used at more than 21 million Visa® acceptance locations worldwide.
Employer benefits include:
- Reduced expenses – Payroll cards reduce or eliminate the cost of printing, reconciling, and reissuing checks.
- Increased employee benefits – The payroll card increases employee loyalty and retention by adding the card as an employee benefit offering.
Employee benefits include:
- Convenience – Employees eliminate the cost and inconvenience associated with check cashing services.
- Security – Unlike cash or checks, the Payroll Card can be replaced if it is lost or stolen. Employees can access cash in increments they need rather than cashing their entire check.
A web site is set up for employers, enabling them to enroll a new employee, search for an employee record, update employee cardholder information, perform credit or debit adjustments, review payroll history, view frequently asked questions, and fund the cards. A web site is also available for employees which allows them to view their card balance, activity, and statements as well as frequently asked questions. They can also use the web site to change their PIN and web site password.
