A payroll Paycard is essentially a debit card to which an employee's pay is deposited.
They are ideal for employees who do not have a bank account as they can be used at participating automatic teller machines to withdraw cash or in retail environments to make purchases, and eliminate the need to "cash" a paycheck.
More and more companies are starting to use Paycards. However, there are rules and regulations for their use that must be followed - and benefits as well as drawbacks that should be addressed - when contemplating whether or not to go to a Paycard system.
This audio conference covers the why's, how's, and regulatory issues regarding Paycards. For instance, the majority of state’s labor laws allow employers to offer direct deposit, but they don't allow employers to mandate that their workers participate in their direct deposit programs. Learning Objectives:
By attending, you will learn:
- The definition and benefits of utilizing paycards
- The potential downside of using paycards
- The states that have enacted legislation either for or against the use of paycards - and what the legislation states
- Whether or not an employer can mandate the use of paycards for their workforce
- What you do if you are a multi-state employer and you want to launch a program for your entire worker population
- How to roll out a paycard system to your employees if you have decided to initiate a paycard program
…and as always, this session will be interactive, so we’ll be able to answer your questions on this topic throughout the presentation!About Your Speaker
Mindy Harada, CPP, is an employment tax specialist who has over 17 years of employment tax experience as an independent consultant, an employee with one of the Big 4 firms, and as a payroll tax auditor. Ms. Harada previously was the west coast practice leader for the Employment Tax Practice at Deloitte Tax LLP.
Ms. Harada is a frequent presenter on various employment tax topics at APA events and for several payroll service providers on a national basis. She has presented before the Society of CPAs and has also spoken at several Payroll Conferences throughout the country. PHR / SPHR Credits!
This program has been approved for 1.5 recertification credit hours through the HR Certification Institute. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org. The use of this seal is not an endorsement by HRCI of the quality of the program. It means that this program has met HRCI's criteria to be pre-approved for recertification credit.