Payroll Deposit Options
Customized Deposit Options (Direct Deposit)
Employees want their payroll funds on time, each and every time. Customizing payroll delivery based on their individual needs makes the process that much better for each employee.
Features of Oasis Outsourcing’s customized deposit options:
- Employees can deposit money into multiple accounts (i.e., checking/savings/IRA) using fixed, percentage and/or balance methods.
- Staying within the proper timeframes guarantees that money will be in employee accounts.
- Acceptable documentation includes a voided check, a copy of a check and/or a copy of the Financial Institution Identification Card.
- Eliminates the possibility of a lost or stolen check, late check arrival due to mail delays and check cashing hassles and fees.
When an employee sets up the direct deposit option for payroll, a pre-notification (pre-note) begins at the point of entry and remains in this status for seven banking days. To ensure accuracy, a zero dollar transaction is created and sent through the Automated Clearing House (ACH) network to test the validity of the payee’s bank account information.
Cashpay Debit Card
The Cashpay Debit Card is a viable alternative for employees who don’t have a checking or savings account. Features include:
- 24/7 access to their pay everywhere Visa debit cards are accepted.
- Dedicated English and Spanish-speaking representatives available 24/7 to all PEO Clients.
- Minimal fees versus check cashing hassles and fees.