CareLock Protected

There are considerable benefits to deploying an electronic pay program within your organization. You can save money and resources associated with payroll processing and distribution costs while employees benefit with the piece of mind of knowing that their wages are accurately and consistently deposited on to their personal Prepaid Card with many cutting edge technology features.

In fact, it is estimated that companies save up to $3.00 per payment by using direct deposit instead of paper paychecks. This is why employers over the past 25 years have promoted direct deposit to their workforce, achieving a 65% direct deposit participation rate nationwide. Now with Prepaid Cards it is much easier to achieve 100% direct deposit. Also by using a prepaid card your company can become more environmentally friendly by using less paper. To see how much an impact your company would make check out this useful link...GO GREEN

Expand electronic pay to all employees by offering payroll cards as a complement to your direct deposit program for those employees still receiving paper checks – easy qualification with NO credit check or Chexsystem verifications
Reduce costs associated with check printing, processing, overnight delivery services, and out-of-cycle checks
Increase the security and reliability of distributing wages to employees and avoid costs for reissuing lost and stolen checks
Ensure employees receive their pay, even in the event of an office closure or natural disaster
Help ensure your company is in compliance with legal requirements for timeliness of termination pay
Save your employees check-cashing and money order fees
Provide all employees with a faster, safer, and more convenient way to get paid
Provide employees the ability to make purchases or pay bills by phone, online or mail
In today’s workplace employment can also be a social commitment.
Employers that know understand that employee loyalty leads to sustained productivity, higher profits, lower employee attrition, training and lower customer turnover.
Even in business who hire and train fewer employees loyalty can be a determining factor in how well the business does over all.
By providing an alternate pay source will provide all of your employees the same flexibility of those who have direct deposit. And the benefits you enjoy are the same as all large businesses.

CareLock Prepaid MasterCard Benefits in $$’s and “$ense”

Allowing your Employees to enroll in Direct Deposit by using a CareLock Prepaid Card is quick and easy and can save them over $600.00 a year in check cashing fees!

Call 800-505-7794 today to find out easy it would be to give your employees an instant raise with a CareLock Prepaid MasterCard.

Saving Them Time – Priceless - No more waiting in line to cash paychecks each pay period. Studies show that employees may spend the equivalent of three work days each year waiting in lines to cash their paychecks. Now you can give them a raise and 3 extra days a year by simply implementing a CareLock Prepaid Card Program – Call today 800-505-7794.

Monthly Transactions	CareLock Prepaid MasterCard	NO Bank Account	You Save
Paycheck Cashing Fee	$0.00 with FREE Direct Deposit	$60 per month* ($15 per week)	$60.00
Pay Bills (rent and 2 utility bills	$2.00 w/ Electronic Bill Pay (Based on 3 bill pays per month)	$8.00 per month for money orders, envelopes, postage	$2.00
ATM Withdrawal (4 times per month – 1 time per payday. All other times use the free cash back option when you make a purchase at qualifying retailers)	$6.00 per month	N/A	($6.00)
Monthly Fee	$4.95 per month	$0.00	($4.95)
Monthly Savings Yearly Savings			$51.05 $612.60

*This comparison is based on an individual receiving a $500.00 check 4 times per month and a check cashing fee of 3%

Helping The Unbankables Achieve Financial Freedom

For employers whose workforce contains a high percentage of individuals without bank accounts, it is difficult to achieve the desired level of participation in direct deposit programs.

Employers with higher percentages of employees without bank accounts tend to be those in the agricultural, food processing, hospitality, manufacturing, retail, restaurant, and transportation sectors of our economy.

These workers are frequently called the unbanked by employers and the financial services community and represent about 10 million households in the United States.

Achieving 100% Direct Deposit With Prepaid Cards

Utilizing a Prepaid Card in a direct deposit or payroll application is one of our most exciting options, as it offers a win/win solution for both the sender and recipient. The Prepaid Card account is ideal for use with any recurring payment such as government benefits or payroll checks. Sign up is easy via the Direct Deposit sign up form every cardholder receives when their card arrives in the mail. Payment is completed with a simple ACH data transfer by the government agency or employer.

Unbanked employees, remote location employees, employees and retirees who prefer direct deposit, are all natural candidates for our Prepaid Card programs. Cost to the cardholder for the Prepaid Card Account, is a one-time application fee and a small monthly fee, making it less expensive than most checking accounts and considerable less expensive than check cashing locations. They may use the card for purchases at most all retail locations, and they can use the card for most Internet purchases, phone, and ATM transactions.