More workers get paid with cards instead of checks
It should be no surprise that the paycheck is going digital. Much less frequently will we feel the tactile nature of an exchange of promises involving money.
More employers are replacing traditional paychecks with payroll cards, a new type of system that allows employees to get money out of cash machines instead of cashing checks.
Instead of getting a paycheck, employees can opt to get cards that are credited each pay period with their wages. Workers can use the cards to withdraw money from ATMs or they can use them like a debit card to make purchases.
Some users have to pay a transaction fee or monthly charge for the cards; in other cases, fees are waived. Employees who use the payroll cards often get a paper or electronic pay stub with wage and tax information.
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