• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Don’t require payment via prepaid debit cards, feds say

by on
in Office Management,Payroll Management

The U.S. Consumer Financial Pro­­tec­­tion Bureau last month warned employers that they cannot require employees to be paid using prepaid payroll cards. “Consumers must have options when it comes to how they receive their wages,” the agency announced.

More employers have begun paying hourly, temporary and seasonal workers with reloadable prepaid cards. The cards can be used like debit cards, even if employees don’t have checking accounts. The agency also said employers must disclose fees associated with the cards and allow employees to check their balances. State laws may also apply.

Check out a list of state laws on debit cards and direct deposit rules.

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/36723/dont-require-payment-via-prepaid-debit-cards-feds-say "

Leave a Comment