The Federal Reserve estimates 9.7% of the United States population does not have a bank account or is “unbanked”. There may be many reasons for an employee to be “unbanked”; credit problems or bias toward financial institutions are among the most common. The Payroll Debit Card helps employees in this situation by giving them and their employers a cost effective alternative to expensive check cashing services.

Employers can enjoy the Payroll Debit Cards as it acts very much like an employee’s direct deposit. It reduces costs involved with checks like reconciliation costs, check cashing fees from your bank, and even check fraud exposure.

Employers will love it because:

• Only employer cost is the direct deposit transaction to load the card
• Eliminates check reconcilitation charges
• Eliminates bank check cashing fees charged by your bank
• Reduces check fraud exposure
• Reduce costs of replacing lost checks and stop payment fees
• Provides a low cost, portable employee benefit

Employees will love it because:

• Much cheaper than check cashing services
• VISA® logo and name recognition
• Can be used anywhere a VISA® credit card can be including over the phone and online
• No overdraft concerns; only funds loaded on the card are available
• Does not require bank or banking relationship
• Is portable between employers

Your employees can be assured of the security of their funds. The Payroll Debit Cards are tied to individual, FDIC insured, accounts at the Alabama National BanCorporation (ANB). ANB is a publicly traded company with $5.4 Billion in assets providing banking services throughout the Southeast United States.