What is a payroll card?
Your employer may be able to arrange with a bank or other financial institution to pay you with a payroll card. Your pay is loaded directly to your payroll card rather than deposited to a bank account or provided to ...
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What are some of the main types of prepaid cards?
Most prepaid cards that have a network logo on them (Visa, MasterCard, American Express, or Discover) can be used at any location that accepts that brand. These cards are called “open-loop” cards. If your prepaid card doesn’t have a network ...
Where can I buy or get a prepaid card?
You can buy prepaid cards at stores or online. Some prepaid cards, such as payroll cards or government benefit cards, are provided to you by your employer or government agencies.
Are there any fees to use a payroll card?
Your employer makes the arrangements with the financial institution for the terms of the payroll card, including any fees that may be charged to you. Some employers arrange for payroll cards that do not charge you a monthly fee, but ...
What happens if my payroll card is lost or stolen?
You have similar protections against loss and theft of your payroll card, or theft of your funds using your payroll card information, as you would if your money were in a bank account.
If my employer offers me a payroll card, do I have to accept it?
Employers will typically let you choose between a direct deposit to a payroll card or to a bank account. Some employers will give you a choice between direct deposit to a bank account, direct deposit to a payroll card, and ...
Will I pay a fee for using a prepaid card?
It depends. Read the terms of the specific card carefully to understand the fees that may be associated with it. For some types of cards, important information is included on the card itself. Consider how you plan to use the ...
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