Isn’t it Time You Got Out of Line? The Nazpay automatic salary deposit service — direct deposit — adds economy and productivity to paydays. Employees appreciate the safety and convenience. Employers like how it helps their company’s bottom line. Here’s how direct deposit saves time and eliminates problems.
Bypass the check cashing routine Losing productivity while employees stand in long, payday bank lines becomes a thing of the past. Direct deposit means their wages are already in their accounts on payday.
Add a benefit Direct deposit provides a benefit highly appreciated by employees. 56% of U.S. employees are paid using direct deposit.
Speed check reconciliation People doing the books love direct deposit. There’s no long, drawn out process as checks get cashed. All direct deposit amounts can be reconciled on payday.
Eliminate special payments Employees who are on vacation, traveling on business, or out sick have their money on payday. No checks to be mailed, no special arrangements, no inconvenience for employee or employer.
Free the check signer There are no checks to sign with direct deposit. With 100% direct deposit participation, there doesn’t even have to be a person with check signing authority present on payday.
Here’s How It Works First, your employees authorize the transfer of funds to their personal accounts. Every pay period the appropriate wages are automatically deposited into their individual checking or savings accounts. Employees receive a pay voucher showing their account number and the amount deposited. Employers receive a direct deposit report with each payroll, detailing transactions for the pay period.
Everyone Can Participate! Traditionally, pay is deposited in checking or savings accounts. Our Nazpay® PowerCash Visa® Card accounts provide a third alternative. An account provides employees with a quick, safe, and convenient way to get their pay, while adding the benefits of a purchase-debit card. With PowerCash Visa Card, there’s no reason why your company cannot have 100% direct deposit participation.