Frequently Asked
Questions (FAQs)
1. What is the cost
associated with integrating iPay to may company's payroll?
And what is the cost of the cards?
2. What happens if
an employee is under or over paid?
3. What is the cost
of loading a card?
4. Is my company
liable for funds to a card after confirmation that the
card has been funded?
5. Why change if
my employees and company are happy with our current
payroll structure?
6. How else can iPay
help my employees and my company besides paying the
“unbanked”?
7. Will this really
simplify my payroll? And how?
8. What if I have
a high employee turnover, how will iPay help me?
9. What happens when
a card is lost or stolen?
10. What advantages are there for a smaller one branch
operation?
11. Does the employee
need an associated checking account?
 |
1. What is the cost
associated with integrating iPay
to may company's payroll? And what is the cost of the
cards?
Both the software, implementation and the cards are
ABSOLUTELY FREE.
2. What happens if an employee
is under or over paid?
If under paid, an employee can be instantly funded,
and an over paid employee can be corrected by reversing
payment and reloading the correct amount.
3. What is the cost of loading a card?
It's FREE - there are no associated fees.
4. Is my company liable for
funds to a card after confirmation that the card has
been funded?
No - after the card is loaded the only way to access
that money is using the employee's personal pin number.
5. Why change
if my employees and company are happy with our
current payroll structure? |
The benefits to the iPay
pay system are many.
|
- Realtime delivery of funds for immediate availability
to your employees.
- Lower fees than associated with paper check
cashing.
- Several ways to access funds at thousands
of locations, 24 hours a day, 7 days a week.
- Allows for online balances using the internet
or atm machines.
|
6. How else can iPay
help my employees and my company besides paying the
“unbanked”?
This card can be used by traveling employees who have
a company expense account, for instance a gas card or
a phone card. In addition the iPay
card will also allow an employer real time delivery
of replacement funds.
7. Will this really simplify
my payroll? And how?
Yes. An employee using the iPay
method of payment is entered in your payroll the same
way as your other employees. When an iPay
card is issued to an employee the program will fund
the card and determine whether to print a pay stub or
email it to the employee, with no additional steps for
you to do. Also voiding a check will reverse funds automatically.
8. What if I have a
high employee turnover, how will iPay
help me?
The iPay
card is ideal for high turnover locations. Because it
is totally free. Now take into account what your paper
checks cost and you will quickly realize that the iPay
card is the most logical way to pay your employees.
9. What happens when
a card is lost or stolen?
Simply issue the employee a new card, this will simultaneously
cancel the old card and transfer any funds in the old
account to the new account. For the employer there is
no waiting period to see if the check was cashed, thus
eliminating check fraud and the need to place a
"stop payment" on a check.
10. What advantages
are there for a smaller one branch operation?
The iPay
card allows you an ideal opportunity to compete with
a larger company by offering this additional benefit
at virtually no cost to you and will help in retaining
employees.
11. Does the employee
need an associated checking account?
NO. The iPay
card is a completely separate account.
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