Payroll Card Program
Simple, efficient payroll without the related expenses
Our Payroll Card Program can help you reduce your payroll-related expenses while also providing a safer, more convenient way for your employees to receive their pay.
How It Works
Each payday, your employees' net pay is automatically deposited to their personalized, re-loadable, no-monthly-fee payroll card. The payroll card allows them to access their funds 24 hours a day at ATMs and at any merchant that accepts MasterCard® debit cards. The payroll card is a prepaid debit card, not a credit card; each time the card is used, the purchase amount is deducted from the available balance.
First Citizens has teamed up with TransCard to offer a turn-key payroll card solution - nearly all the work is done for you. TransCard provides comprehensive training and an online portal to make the employee enrollment process as easy and smooth as possible.
Practical UsesYour business can benefit from using payroll cards in a number of situations, including:
- If you want to increase your employees' use of direct deposit, but have been unable to do so because a large number of employees don't have bank accounts;
- If you are concerned about your employees' ability to deposit or cash their paychecks and the safety of carrying large sums of cash.
Agricultural, manufacturing and service-related businesses — such as restaurants, landscapers and temporary staffing firms - are among the many companies that are increasingly using payroll cards to pay employees.
Benefits for Your Business
- Reduce the time you spend preparing your payroll.
- Reduce, or possibly eliminate, many payroll expenses, such as:
- Payroll check printing, processing and distribution
- Lost/stolen check replacement fees
- Stop payment fees
- Payroll check fraud
- Can be used for non-payroll purposes — incentives, travel, procurement, employee expenses, etc. In emergencies, instant PIN cards can be issued for immediate cash needs.
Benefits for Your Employees
- Eliminate the risk of a paycheck being lost or stolen or the need to carry large amounts of cash.
- End the hassles and fees of check cashing.
- Make point-of-sale purchases anywhere debit cards are accepted.
- Get cash back at the point-of-sale at participating merchants.
- Withdraw cash at ATMs worldwide. Cash withdrawals at First Citizens ATMs are surcharge-free.
- Access account information and receive assistance 24/7 via TransCard’s bilingual customer service number.
- Initiate bill payments (via customer service).
- Monitor account from a mobile phone and sign up to receive optional text alerts.
- Receive one complimentary convenience check and First Citizens teller withdrawal per pay period.