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 PayMaster > Services > Payroll > Pay Methods
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PayMaster provides three options for paying each of your employees; secure pay checks, direct deposit or
by pay card.
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PayMaster prints your employee pay checks on the bank account that you specify. Pay checks
contain a complete pay stub including a statement of current and year-to-date earnings,
taxes and deductions. The check stock has multiple security features embedded in the design
to prevent tampering and fraud. Click here for a sample of our check stub. For that personal
touch, PayMaster can add your company logo or a custom message on the face of the check,
such as "Void after 60 days", as well as double signature lines.
For our larger clients or companies where the signer is not always on site, we offer check
signing services where the checks are generated pre signed. Combine this with our check
stuffing service, and your checks are delivered in double window envelopes ready to
distribute.
PayMaster can also provide a bilingual check stub that reads in
English &
Spanish.
For the client looking for a custom check we can also offer our check designer service. You
are in control as to the look, feel, and data present on the check and stub.
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The American Payroll Association estimates
that the average cost to issue the traditional paper check is $2.50. This covers direct costs
such as bank fees for dealing with checks and the indirect costs, such as the labor cost dealing
with distribution and reconciling paper checks.
PayMaster offers the convenience and security of direct deposit for all employees to eliminate
those seen and unseen costs. An integral part of PayMaster’s Green Initiative, direct deposit
eliminates the need to print ink on paper and burn gasoline to deliver that paper across town. Your
employees’ net pay is electronically deposited directly into the bank account of their choosing, or
multiple accounts, even in different banks. No more lost or stolen checks and the ensuing stop
payment fees. No more employee downtime waiting in long lines at the bank.
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PayMaster also offers your employees without bank accounts the option of a PayMaster Pay Card.
These cards are used in the same manner as debit cards and are branded with a MasterCard logo, so
they have a worldwide acceptance. Since the fees are paid by the employee,
there is no charge to the employer. The advantages and environmental impact are similar to direct
deposit. No more check cashing fees. Employees can send additional cards to relatives anywhere
in the world and save transfer and exchange fees.
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Benefits to the employee are;
- Accepted at millions of locations worldwide
- Eliminates check cashing fees
- Eliminates money orders for bill payment
- Eliminates costs associated with paycheck pickup/delivery
- Domestic and International Phone card
- Ability to do card-to-card transfers for ease of sending money
- No credit check or bank verification - Guaranteed Issue
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