July 15, 2010

Every once in a long while, some particularly aggravating problem – one that's costly and complicated and responsible for seemingly endless aggravation – is resolved, apparently effortlessly, by some simple innovation.  (What if we sliced the bread?) 

In my role at FSV, I talk with a lot of large employers that have employees all over the country, and I have heard countless times about the headaches and hassle they endure when processing manual checks. It seems involuntary terminations are by far the worst. They cause the employer to immediately start scrambling to deliver the employee's final pay as soon as possible, especially in those dreaded states that require same-day termination pay.  Really, what options do most employers have other than paying out cash, letting local managers issue checks or just succumbing to the penalties that result from not meeting their obligations? None of these are good options for obvious reasons. Many employers are forced to suspend the outgoing employee temporarily until they can cut the final check and overnight it to the work location.  That means they have to pay the employee, at minimum, another day's wages – plus the high cost of overnight shipping. Not to mention, now there's a potentially disgruntled employee who has to return to work to pick up a final check.  Clearly, that's not a good scenario!

Fortunately, this once painful and expensive proposition has a simple, cost-saving alternative that offers a win for employers and employees. By providing employees a PaychekPLUS! Elite^® Visa^®, employers can distribute termination pay instantly without all of the costs, inefficiencies and hassle that surrounds the manual paper check process!  And the terminated employee receives his final pay right in his pocket – even if he never showed up for work at all.  Now that's handy!

How does it work? Employees who already receive their pay by paycard are pretty much set. It's just a matter of the employer calculating their final pay and accessing the secure Web portal to process the transfer of funds in real time. Voilà! The employee has all the money owed him and can be on his way within minutes of his termination.  Even employees who normally receive their pay by check or direct deposit can receive termination pay on a paycard. The manager just hands the employee an instant issue card packet and uses the Web portal to register the card.

Sound too good to be true? It's not. Sometimes the best solutions are this simple.  To find out how you can leverage your electronic payroll program and the PaychekPLUS! Elite Visa to accomplish much more than just regular pay; contact one of FSV's electronic payroll experts at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Sam Bayoumi
SVP Client Development, Employer Solutions

July 9, 2010

If you've ever lost a paycheck or had one stolen, you know the hassle that inevitably follows. You have to contact your manager or payroll representative, fill out forms and wait for a replacement check to be processed, issued and distributed. In reviewing various companies' policies on the Internet, I noticed that some employers require replacement check request forms to be notarized and some even take the $30 stop payment fee directly from your pay. Regardless of your employer's procedure, the process promises to be annoying and time-consuming.  You may have to wait as much as two weeks or more to get your pay.

If your check was cashed by a thief, you're in for additional aggravation. Now you'll have to file forgery forms with the bank and wait for an investigation to clear you of fraud before you can get a replacement check.    You're in for a long wait for your pay – and it's an especially difficult delay for the hardworking people who struggle from paycheck to paycheck.

The lost/stolen check process is just as much of an aggravation for your employer's payroll department, and it's costly, too.  That's why most employers try to encourage employees to adopt direct deposit. Unfortunately, many employees feel excluded from the convenience of electronic pay because they lack bank accounts. 

With the introduction of prepaid cards, however, all employees can enjoy the benefits of electronic pay.  Whether you opt for direct deposit to a bank account or to a prepaid debit payroll card, you get your pay faster and easier, while avoiding check-cashing fees.

For employees with FSV's PaychekPLUS! Elite^® Visa^®, lost or stolen cards can be replaced the same day with a simple phone call.  Plus, you can make purchases and even get cash back at the register for free.  You enjoy the benefits of a bank account (free direct deposit, online account management, savings, etc.) and the increased purchase power that a Visa-branded debit card delivers.  And no matter where you go, your pay is in your pocket every payday – without the inconvenience or expense of cashing checks or frustration of replacing the occasional one that goes missing.

June 22, 2010

We just recently returned from the APA's 28th Annual Congress – the premier U.S. payroll conference. We've been a sponsor, exhibitor and participant for many years, and the conference is always exciting. Participation was up this year with 1,600 attendees, which shows that companies and employers are just as excited as we are with the developments in payroll.

This year we hosted our own Thought Leadership Workshop – Chris Pigg, our VP of Client Development, and I joined a panel of speakers discussing how to successfully implement a paycard program while providing a powerful employee benefit. The panel discussion was so well received that we're already looking forward to hosting another panel next year. We also raffled off a SuperHero Giveaway Getaway to Orlando, Florida! We enjoyed meeting all of the attendees who dropped by for a chance to win...but there can only be one winner! Congratulations to Judy Hale, from Apple, Inc who won a trip to the Universal Studios Super Hero Island of Adventure – just in time for the new Harry Potter ride!

	Congratulations to Judy Hale, from Apple, Inc who won a trip to Universal Studios Super Hero Island of Adventure - just in time for the new Harry Potter ride!
	Dan Maddux , Executive Director of the American Payroll Association presents FSV’s Superhero Getaway vacation package to our winner, Judy Hale, Apple, Inc. Payroll Assistant

I know Judy and her family will enjoy their trip. It is always really rewarding to host a giveaway like this, because we know how hard payroll professionals work.

As always, it was wonderful to see all the APA staff again. To the attendees who visited, it was great meeting you, and we look forward to seeing you and working with you in the future. Until next year, feel free to contact us to discuss electronic payroll card and how we can help you achieve paperless payroll.

Deneka Scott
Senior Vice President 

June 6, 2010

The National Weather Service expects the 2010 hurricane season to be a whopper.  Officially, they predict that this season, which started Monday, will be an "active to extremely active" one, with up to 24 named storms and 8 to 14 hurricanes. They expect 3 to 7 of these to reach major hurricane status.  That's a lot of potential risk to people and property.  While you may feel prepared, when the next big one hits, will your employees get their pay when they need it most?

A disaster requires more than flashlights and an emergency phone tree. Even if you have a disaster plan in place, it may include an alarming oversight.  If employees are scattered by the threat or eventuality of disaster, how will you pay them?  For employees with direct deposit, you can probably still send their pay, and hopefully, they can access it.  On the other hand, employees who receive paper checks may be out of luck.

How will you get checks into employees' hands once they have evacuated to places unknown – especially if delivery services are unreliable or even completely unavailable?  And the checks that find their rightful owners still have to be cashed.  That's a difficult proposition for employees facing road closures or electricity outages or for those who have evacuated.  (Just try cashing an out-of-state check and see what happens!)

Once disaster strikes, solving the logistical issues becomes a nightmare. Fortunately, with a little planning and very little effort, you can eliminate the risks and consequences upfront. The simple solution: Distribute FSV's PaychekPLUS! Elite^® Visa^® prepaid cards to your employees before disaster strikes.  Once employees activate their cards, you have the power to put money directly into their pockets –no matter where they are or what they're facing.  They get immediate access to their funds at merchants accepting Visa debit cards and more than 37,000 ATMs across the nation.  And you get the peace of mind of knowing that, if the worst happens, you're prepared to deliver payroll when your employees need it most.


Deneka Scott
Senior Vice President

May 25, 2010

May is National Direct Deposit and Direct Payment Month, and, at FSV, we know firsthand the benefits of direct deposit. Many organizations long to capture the cost and productivity savings associated with direct deposit but think they can never achieve 100% electronic pay because a number of their employees don't even have bank accounts. Some of our payroll clients felt this way before partnering with FSV.  We worked with them to develop custom, compelling direct deposit campaigns that offer payroll cards to employees without bank accounts so that they, too, could finally enjoy the benefits of electronic pay.

NACHA, the Electronic Payments Association, is celebrating National Direct Deposit Month, as well.  They're providing free tools and resources to encourage organizations like yours to embrace the cost effectiveness, speed, security and convenience of electronic payments.  You can learn fun facts about direct deposit or download free marketing materials, including:

• Print advertisements
• Informational brochures and displays
• Web banner advertisements

They even provide an interactive direct deposit calculator that demonstrates how much your organization could save by switching your payroll to direct deposit.  Even if many of your employees don't have bank accounts, your organization can still participate in these savings, because FSV provides a viable, desirable alternative for employees without bank accounts - FSV's PaychekPLUS! Elite^® Visa^® payroll cards.

Deneka Scott
Senior Vice President

May 14, 2010

If you're attending this year's APA Annual Congress, don't miss our panel discussion "Increase Productivity, Add a Powerful Employee Benefit, and Go Green: How Payroll Cards Impact More Than Your Bottom Line," on Wednesday, May 26. The newest addition to our lineup of industry experts, Randy Babitt, Darden's Director of Payroll Services, has agreed to share his experience implementing a successful electronic payroll program at a large organization with an expansive footprint. Darden includes iconic restaurant brands like Red Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille, Bahama Breeze and Seasons 52. Through subsidiaries, Darden owns and operates 1,800 restaurants, employs approximately 180,000 people and serves more than 400 million meals a year.