At FSV, we call these people our "valued customers". They are our waitresses and check-out clerks. They clean our homes and offices. They drive our buses, teach our children, tend our yards and handle our transactions at the bank. They are the underpinning of our economy, touching our families' lives many times throughout each day. They are hard workers with high aspirations for themselves and their families. Unfortunately, they live paycheck to paycheck for much of their lives or may cycle out of the traditional banking system during tough economic times such as these today.

FSV provides these individuals with paycards to receive their wages or government benefit payments and we offer other affordable and valuable financial services such as bill payment and savings accounts. These tools allow our customers to conduct financial transactions and participate in mainstream payments that they may not otherwise have readily available.

We're honored to have such a great group of customers and proud to serve them.

As the winner of FSV's Vacation Getaway drawing at the American Payroll Association's 27th Annual Congress, Angelique will get to relax and enjoy a Carnival cruise with round trip airfare on Continental - just in time for the summer.

FSV's ePayroll sales team recently returned from attending the APA's 27th Annual Congress in Long Beach, CA. This event is the premier education and exhibition for all payroll personnel in the United States and FSV has been a supporter, exhibitor and participant for many years. Participating at this year's APA Congress was particularly exciting for us with over 1400 people in attendance at the event. The attendance level shows us all that companies are still placing emphasis on continued payroll education, particularly in the areas of compliance and regulation, and on innovative ways to deliver payroll more efficiently while saving money.

The environment was a big topic of this year's event particularly as it relates to the delivery of payroll. George Sanchez, FSV's SVP of Business Development, co-lead a workshop and presentation on "Going Green - Implementing a Paycard Program with Electronic Wage Statements". The presentation was well received and gave payroll managers needed information to understand not only how to implement a program but, also how doing so can impact corporate sustainability efforts.

In keeping with the environmental theme, no presentation was printed this year but, they are available to APA members via the association's website. You can find a recap of the "Going Green" workshop and a link to the full presentation available now in George's "Going Green With ePayroll" blog below.

To the APA staff, particularly those who work so hard each year to put on this event, we thank you for all you do. To the attendees who visited with us and learned more about our ePayroll solution, we look forward to working with you.

We'll see you all next year!

I heard from people after the session that they particularly appreciated the information presented on the environmental impact converting to ePayroll. I presented the following sample calculation of how much a 10,000 employee organization could impact the environment by going green.

If you would like us to help your organization calculate the environmental impact your company could achieve, please send an email to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

FSV has extensive experience in helping large employers achieve 90%+ electronic payroll adoption of paycards, direct deposit, and ePayStubs. We take pride in knowing that as we help you, we help the environment, too.

Wednesday, May 13, 2009

It seems just about everyone has a story about how overdraft fees turned a simple daily purchase into a budget breaking mess. Last week a colleague shared with me how about years ago he had written a check for a $2.71 hamburger. The check bounced leading to a $20 fee from the bank and another $20 fee from the restaurant.

My daughter had a similar experience. She racked-up $120 in overdraft charges in a single day, a day in which her total purchases were under $20. But she didn't bounce a check - in fact, she didn't have any checks - it was a checkless checking account. How can this happen? The previous day, she had filled her car with gas, paid inside to add on a pack of cigarettes (yes, Mom doesn't like to admit it, but her daughter smokes) and authorized the $25 total with her signature. Her bank placed a hold on those funds, but just for that day. When the purchase did not clear that night - which it never would with signature debit that typically takes 2-to-3 days to clear - the bank removed the hold and authorized additional transactions. A pack of gum, more cigarettes (ugh!) a couple of QSR meals and some sodas turned into 6 overdrafts transactions and $120 in fees. And at $19.95 a pop, her bank was offering a relative bargain in overdraft fees!

It's an easy trap for bank customers to fall into. But it could be prevented if holds on signature debit transactions were maintained long enough to allow signature debit transactions to settle.

At FSV, we work hard to make it almost impossible for our payroll debit card accounts to be over-drafted. We keep holds on signature debit transactions long enough for the transaction to settle, and if there are not sufficient funds net of holds, we don't authorize subsequent transactions. And, in the rare instance when an overdraft can still occur - such as a force posted merchant transaction - we don't charge customers a punitive fee.

More and more, customers are turning to prepaid cards for everyday spending precisely to prevent the risk of overdraft charges that tank their budgets for the month. I can't imagine ever paying $42 for a hamburger, but if I do, it better be by my choice and it better be Kobe beef!

Cathy Corby Parker
Executive Vice President

The Network Branded Prepaid Card Association (NBPCA), of which FSV is a member, has taken the lead in organizing an aggressive campaign to educate Senators across the country on the unintended consequences of this bill. Jon Palmer, CEO of FSV and a Member of the Board of the NBPCA, personally encouraged FSV employees to get involved in this important effort on behalf of the prepaid industry. Of the 500 letters that the NBPCA reports were sent to Senators in the last week, 10% came from the FSV team who got on board enthusiastically and sent over 50 letters to Senators in a half-dozen states. FSV also reached out to clients who would be most impacted by the proposed legislation and encouraged them to join the lobbying effort.

If you would like more information on how you can help influence Washington before the collateral damage hits prepaid, send a note to This e-mail address is being protected from spambots. You need JavaScript enabled to view it and we'll let you know how to help.