Top Considerations When Choosing a Paycard Provider for Your Staffing Agency

There are many reasons staffing firms should offer a paycard, but finding the right provider can be overwhelming. In order to select the best paycard for your business and your talent, it’s important to remember that not all payroll card programs are created equal. While researching your options, here are eight paycard features and functions to look for to select the best paycard provider for your company.

Top Considerations for Choosing a Paycard Provider for Your Staffing Agency

1. Trusted Payment Partner Brand

The ability to use your card anytime, anywhere is imperative when selecting a paycard for your employees. Be sure to choose a payroll card that is branded with one of the major payment brands (i.e. Visa, MasterCard, Discover) that is widely accepted at all retailers and can be used to pay bills either online or by phone.

2. Customer Service

Have you ever had to call a customer service line only to sit on hold only to connect with someone who is clearly reading from a script? It isn’t pleasant and leaves you more frustrated than you were when you first called. When choosing a paycard for your employees, be sure to choose a provider that isn’t limited to a 9-5 service window. Look for a provider that has a domestic, 24/7 customer support line open 365 days a year. This gives your employees the best service and reflects your commitment to providing an excellent employee experience.

3. Mobile-Friendly, Modern Money Management

Today, most payroll card providers allow customers to add money to their paycards through direct deposits and bank transfers, but many still do not offer mobile check deposit. Mobile check deposit allows you to deposit checks into your account by taking photos of them. This has become one of the most highly-demanded features of mobile banking in recent years. Consumers are often willing to switch banks or paycard providers to get it.

When looking for a payroll card to offer to your employees, be sure to ask if mobile check deposit is available. Also, confirm if the paycard can be used with Apple Pay and Google Pay. These are highly sought-after features that modern day consumers expect from their financial service providers.

4. Mobile App

2020 has made us increasingly reliant on mobile options, and today’s digital native generations expect everything they need to be at the tips of their fingers. They want their financial services to have both a web and mobile app with full account management capabilities, a rich set of alerts and notifications based on their specific preferences, and all financial management functions embedded within a single location. When choosing a paycard provider, look for one that has all of these features and functionality embedded directly within their app to act as a single source of financial truth for your valued employees.

5. ATM Network

To provide employees a positive payroll experience, they need convenient access to their money and financial institutions. It’s important to make sure your employees can access their hard-earned funds as easily, conveniently, and inexpensively as possible. Make sure to look for a payroll card provider that has a large, fee-free ATM network with many locations. The bigger the network, the better in this case!

6. Integrated with your Payroll System

While paycards provide a great experience for your employees, you also want them to benefit your payroll team. Choosing a paycard that is integrated with your payroll system will make the entire process more efficient and streamlined. An integrated paycard allows you to adopt a payroll card without learning an entirely new system. There can also be significant cost savings for using an integrated paycard through partnership pricing and training costs. Be sure to ask your payroll provider for a list of integrated cards before making a decision.

7. Industry Expertise

The staffing and recruiting industry is unique, and its payroll and compliance are complicated. Therefore, it’s critical look for a paycard provider with specific experience in the staffing and recruiting industry. Be sure to look for a paycard provider that understands the unique needs of your staffing company and can offer features and functionality to not only meet, but exceed those requirements.

8. Loyalty Program

Finding and retaining your best talent is one of the biggest challenges facing the staffing and recruiting industry today. When choosing a paycard provider, look for one that offers a loyalty program you can use to incentivize your best employees for good behaviors.

For example, the CHANGE card has a loyalty program you can use to incentivize positive employee behaviors – from clocking in on time, low absenteeism, satisfactory job performance, working accident free, referring other great talent, and more. Encouraging these positive behaviors benefits both your bottom line and your customers’!

Conclusion

With the abundance of choices of paycard providers available, it is important to make the right decision for your business and your employees. Use this list to guide your provider evaluations. Make sure your paycard offers all of the above features to deliver the ultimate experience to your employees and staff.