Paperless payroll has arrived and it's here to stay. Small business owners that have adopted the paperless payroll model eliminate costly delivery charges, the chance of lost checks, and the mounds of paper reports that accompany a paper based payroll model. So why aren't more small businesses taking advantage of modern payroll technology and going paperless?
Some business owners feel that a paperless system might be more expensive or more complicated to administer. This is really not the case. Not only is paperless payroll simple to administer, it's actually less expensive than a paper based system when you take advantage of SwiftChecks' free direct deposit service.
Many prospective clients who prefer that we print and mail checks and reports rather than provide them with a paperless, web based payroll system, tell us, "I want direct deposit for myself, but I have a few employees who really want that check handed to them on payday."
This is understandable. Your employees are your most important asset and making sure they are happy makes good business sense. But maybe they would take advantage of direct deposit if they knew the benefits of going paperless!
Paperless is Simple:
- You don't have to go to the bank to deposit checks.
- Your money is automatically deposited into your account on time, every time - and you don't have to be at work - or even in town!
- Direct Deposit payments never get lost.
- Money is transferred electronically and passes through fewer hands than a check.
- Almost 85 percent of identity theft starts with someone seeing your personal financial information on a paper check, billing statement, or bank account statement. Once electronic payments are set up, the money travels electronically, greatly reducing the number of people who see your personal information.
- Direct Deposit gives you access to your money earlier than check deposits. There is no waiting for checks to clear.
- Direct Deposit puts you in charge of your money. Financial planners recommend Direct Deposit as one step towards gaining control of your finances.
- With Direct Deposit, you decide how to divide your pay among your accounts and it will be done automatically.
- Direct Deposit is a smart way to help the environment. Each year, checks use more than 674 million gallons of fuel and add 3.6 million tons of CO2 to the environment as they travel through the payment cycle.
SwiftChecks can still provide paperless payroll for your company if you have an employee that does not have a bank account by supplying them with a payroll debit card. With the SwiftChecks payroll debit card service your employees will receive direct deposits on their payroll card and have access to great benefits such as:
- Mobile banking for 24/7 access and convenience.
- Text messaging for instant balance alerts.
- 24/7 bilingual customer service department.
- Convenience checks for financial control.
- Funds are FDIC insured.
- Cards can be used at millions of retailers and ATM's.
