NetSpend – Simple Employee Paycard (Updated)
Update: Netspend is associated with Brinks and is also known as Skylite.
Netspend is not new but many have not heard of it. Restaurants, bars, nightclubs can easily pay employees in real time. Or use your standard payroll system and just Netspend to payout tips at the end of the shift. This makes handling cash a thing of the past, easy IRS reporting, and employees have instant access to their tips.
When signing up for Netspend the employer will receive as many cards as needed. Cards can be instantly assigned to an employee such that existing employees as well as new hires can be paid within minutes. The Netspend payroll card is a standard visa debit card which is accepted everywhere visa credit cards are accepted. Employees also have access to thousands of nationwide ATM’s for no charge and can transfer funds using the Netspend smartphone app to other Netspend card holders as well as their other linked traditional bank accounts.
Netspend is also ideal for employees with no banking relationship or who are “under banked”. There are no monthly fees and the same Netspend card can be used by the employee for multiple jobs allowing them uncomplicated access to their funds.
On top of it being convenient for employees, it is also an incentive to take on a shift as they get paid at the end of the shift. Hiring and maintaining pizza delivery drivers has always been difficult. With Netspend, the incentive of seeing that income instantly available does the work for the employer and the drivers WANT to take on a shift. This has eliminated the need for employers to go looking for more operators as they come to them.
Finally the employee can add up to three cards on their Netspend account for family use, and can order custom cards with their name for no additional charge. All this with NO cost to the employee or employer, a win win situation for all.
by, April Fischer Executive Assistant to TechTalk & Field Reporter & Automotive Technology Specialist
Contributing Reporter(s) – Millinda Johnson & Aimee Johnson Reporter I