Employers

Preferred MasterCard® PayCard Benefits
The Preferred MasterCard® Paycard offers an employee a valuable asset they can use and benefit from every day, while providing a safe and convenient alternative to issuing paper payroll checks.

Your company can increase its direct deposit participation and decrease the cost associated with processing and distribution of paper payroll checks, while providing your employees an alternative from the high fees and inconvenience associated with check cashing.

Implementation and Enrollment Process
A Preferred PayCard team will be available to assist the CFO, Payroll Manager, Human Resource Director and other management involved in the implementation of the paycard program.

Preferred PayCard will work directly with your payroll and human resource departments to provide them with all required materials to enroll your employees. These materials include on-line enrollment forms, posters, payroll envelope stuffers and handouts. Materials are available and provided in both English and Spanish.

Upon completion of enrollment your employees will receive their personalized Preferred PayCard with instructions explaining best practices and how to use their prepaid card. The Preferred PayCard contact information and toll free 24/7 customer service in English and Spanish will be provided.

Employer Benefits

• No cost to you the employer
• Provide electronic pay stubs to all cardholders free of charge
• No new systems or software required
• No changes to your payroll process are necessary; card loading can be done the same way as your existing direct deposit process.
• Eliminates paper payroll checks
• Reduces reconciliation of checks and check storage
• Eliminates stop payments and costs associated with lost and stolen paper checks
• Reduces payroll processing costs
• Pay unbanked employees using direct deposit
• Enhances employee productivity by eliminating off-site trips to cash and deliver checks
• Provides an employee benefit
• Employee retention and loyalty
• Increases participation in direct deposit
• Provide unbanked employees with an inexpensive method to receive wages.
• No costs are passed on to you to implement the program
• No ongoing costs

Terms and Conditions

MasterCard/University Bank: This card is issued by University Bank, pursuant to a license by MasterCard® International Incorporated. MasterCard and the MasterCard® Brand Mark are registered trademarks of MasterCard® International Incorporated.