Tag: employee atm

  • Attract Millennials with Paycards & a Surcharge-Free ATM as an Employee Benefit

    Each generation has its own values and expectations. Rather than the work-life balance desired by many Gen Xers and their older cohorts, Millennials desire work-life integration. The younger, tech-savvy generations prefer non-traditional incentives that allow them to create synergy between all areas of their lives, such as work, school and family. Since Millennials are expected to comprise 75% of the workforce by 2020, employers need to get creative with their employee benefits.

    In recent years, one major point of contention for Millennials is the difficulty to bank within the traditional 8 a.m.-5 p.m. shift. It can be nearly impossible to manage weekly banking needs within the space of a few minutes while lines of other financial institution customers wait impatiently behind. This creates competition between employee’s defined work schedules and their financial obligations.

    Although direct deposit is the norm, employees are looking to their employers and alternative financial institutions for hassle-free access to their money.

    Payroll Cards as an Alternate Form of Payment

    According to a 2015 FICO report, Millennials continue to embrace non-traditional methods of banking, and approximately 56% of participants between the ages of 18 and 24 either use alternative payment services or are planning to do so. One way for employers to help meet the growing demand for work-life integration and easier cash access is to institute a paycard or payroll card program.

    A recent study by CSFI indicated that employees with a wide range of salaries, some as high as a $100,000 per year, choose to use payroll cards. While over 80% of those surveyed have active banks accounts, they still chose the paycard program offered by their employer for sheer convenience.

    Paycard Programs & On-Site Surcharge-Free ATMs as an Employee Benefit

    One noticeable drawback to payroll cards is the fees charged to obtain cash. To combat that problem, Brinks Money Paycards has teamed up with ATMatWork to be able to offer employers ATM options at work for employees such bank or credit union branded and surcharge-free ATM options – to compliment their paycard programs and save employees time and money.

    With an on-site ATM, employees enjoy the convenience of completing routine transactions in a safe and secure environment – using their paycard surcharge-free or financial institution-issued debit cards.

    The combination of payroll cards and fee-free cash access at work is a fantastic employee benefit that allows the work-life integration preferred by Millennials.

    Paycard programs combined with an ATM on-site is gaining popularity among employees – and not just hourly workers – and employers. As an added bonus, instituting these benefits can save employees thousands of dollars in fees and keep employees at work.

    To find out more about offering employees paycads, contact Brinks Money. To offer an ATM on-site as an employee benefit, contact ATMatWork.

    ATMatWork is now offering an Allpoint surcharge-free ATM option. Transactions are free for employees who use some of the most popular paycards and bank at the more than 1,400 financial institutions that are part of the network.

    And best of all the ATM is hassle-free and, in most cases, less than what you pay in insurance for one employee each month.

  • Give Your Paycard Employees More Money…Without Spending a Fortune

    The mortgage crash of 2008 did a lot more than cause a recession. It created a long-lasting anti-financial institution mindset in a large chunk of America’s younger generation. This change in behavior has led to a gradual increase in the un- and under-banked throughout the US – a number now floating around the 15 million mark.

    As Millennials begins dominating the workforce, many employers are faced with the dilemma of finding ways to pay them. Where many in older generations enjoyed the benefits of direct deposit, a lack of bank accounts for younger workers has resulted in a surge of payments by check. However, a study from Workforce Institute at Kronos reported paychecks arrive late for about 15% of Americans and 25% of respondents reported regular receipt of incorrect payment.

    It is for exactly these reasons that many businesses have come to rely on the ability to direct pay employees. But, with the rise in un- and under-banked workers, employers are struggling to bring all of their employees into the digital payments fold. The solution for many? The paycards or payroll card.

    The idea behind use of paycards is simple. Employers have an electronic way to provide fast funds disbursement as well as an easy way to quickly resolve pay discrepancies. In return, employees have immediate access to their funds on payday, rather than having to take the time to deposit or cash a check. As an added benefit, most paycards utilize the rails of major card networks, allowing the cards to be used for debit transactions.

    But, just like checks, paycards are not all sunshine and rainbows. Similar to some bank accounts, there are many paycards that also issue fees to their cardholders. Some of the most popular fee-incurring situations include an ATM usage fee, card replacement fees and low balance fees. In some cases, there are additional charges for not using the card over a certain period of time. In short, they may “have their money” but they have a great deal of difficulty accessing it without loosing a chunk of their earnings to fees.

    Fortunately, there are several easy ways for businesses using payroll cards or paycards to help their employees avoid fees while better managing their funds.

    • Promote Use of Surcharge-Free ATM Networks – Most major paycards are also members of one or more surcharge-free networks such as Allpoint, MoneyPass and CU Alliance. These networks provide nationwide cash access at participating ATMs. Employers can provide a link to the ATM the locator app and information for any network associated with their payroll cards as well as maps, flyers and other reminders to their employees paid via paycards.

    • Encourage Financial Health – Employers can host workshops and knowledge sessions for paycards employees that help inform attendees about the steps to financial health and freedom including budgeting, investments and knowledge of the fees associated with their payroll cards…as well as ways to avoid them.

    • On-Site ATMs – An ATM in the workplace provides safe, secure access to cash in a convenient location. The machine can be loaded with one of the surcharge-free networks associated with the paycard in use on-site, offering employees a fee-free way to access their funds – on payday or any day.

    Employees often need access to their money right away. However, without a bank account to initiate direct deposit, paycards are one of the only ways to ensure this convenience. Helping employees avoid these additional costs through education, information and on-site ATM programs not only encourages financial independence – it puts more money in the employee’s pockets.

    One of the hottest new benefits being offered by employers, having an ATM on-site saves employees time and money, keeps staff at work and provides a convenient and safe environment for employees to do their banking.

    ATM options include:

    • Surcharge-Free for Everyone

    • Allpoint or MoneyPass Surcharge-Free Networks

    • Bank or Credit Union Branded

    • Generic ATM

    And best of all the ATM is hassle-free and, in most cases, less than what you pay for insurance for one employee each month.

  • ATMatWork Welcomes Resurgent Capital Services

    Your employees are using an ATM and chances are they are spending a great deal of their paycheck on fees to obtain cash. 

    Resurgent Capital Services recognized this and installed an ATM in their building to give their staff easy access to cash — surcharge-free. 

    One of the hottest new HR benefits being offered by employers, having an ATM on-site saves employees time and money, keeps staff at work and provides a convenient and safe environment for employees to do their banking. Now offering an Allpoint surcharge-free ATM option, transactions are free for employees who use some of the most popular paycards and bank at the more than 1,400 financial institutions that are part of the network.

    And best of all the ATM is hassle-free and, in most cases, less than what you pay in insurance for one employee each month.

    Contact the payment professionals at ATMatWork to get started. 

  • On-Site ATMs: An Employee Benefit That Helps You Attract Millennials

    The Millennial generation (born 1981-2000) is the largest generation yet produced. In fact, one in every three American workers are a part of the Millennials – surpassing GenX and the Baby Boomers as of 2015. And the youngest Millennials have yet to hit the labor market, ensuring a controlling segment of the American labor force for at least the next decade. This has led employers to reevaluate their benefits and structure them to appeal to this continually growing labor base.

    The Digital Natives

    Having grown up in a time of rapid technological change, globalization and economic disruption, Millennials are the first generation of “digital natives”. These individuals have had access to personal computers both in school and at home since childhood. They developed alongside internet access, learning how to navigate the web from dial-up to broadband and beyond. Technology has been an integral part of their development – for better or worse.

    Millennials witnessed more than the birth of personal technologies, they saw first-hand the effects of the 2008 recession. While arguably the most college-educated of generations, many graduated only to be met with a job market unable to support their numbers. The youngest among them watched as hard-working parents were laid off and family homes were foreclosed upon. These experiences have created a focus on budgeting, frugality and cash use. It has also brewed a distrust of standard financial platforms – and a market for alternatives such as prepaid cards and alternative financial programs such as PayPal, Vimeo and speculation of an eventual Amazon bank equivalent.

    This desire for cash and budgeting as well as their reliance on technological convenience has led Millennials consistently to the ATM.

    The Solution

    Fortunately, there is a simple solution to appeal to this dominant segment of the labor force – safe, reliable ATM access at work. In fact, some ATMs offer the additional benefit of surcharge-free access through a nationwide network like Allpoint. These services partner with local, community and national financial institutions as well as many leading pay card providers.

    And, while Millennials are an obvious beneficiary, the entire workforce can enjoy their new “at work” convenience!

    One of the hottest new HR benefits being offered by employers, having an ATM on-site saves employees time and money, keeps staff at work and provides a convenient and safe environment for employees to do their banking. Now offering an Allpoint surcharge-free ATM option, transactions are free for employees who use some of the most popular paycards and bank at the more than 1,400 financial institutions that are part of the network.

    And best of all the ATM is hassle-free and, in most cases, less than what you pay in insurance for one employee each month.

  • 3 Ways to Help Employees Manage Their Time

    An efficient work-force is able to get things done safely and consistently. Unfortunately, staying on-task can be a challenge – especially when balancing personal and business priorities. Fortunately, there are ways to help your employees manage their time more effectively.

    1.  Invest in time and project management services – Many people plan their days in the morning. While this is not a bad thing, it often leads into a 24-hour mentality rather than an efficient use of time and energy. Fortunately, there are a variety of time management and project applications such as Todoist, Google Keep and Any.do that can eliminate the need for daily “to-do” lists while increasing employee-to-employee communication on projects.

    These types of applications provide a venue for employees to organize their tasks over a period of time and collaborate with other project participants and departments. Employees are able to stay up-to-date on the status of other aspects of projects, keep customers informed and plan based on the needs of the company.

    2.  Discourage Multitasking – Many people pride themselves on the ability to multitask. However, studies have shown that multi-tasking is not real. Instead of focusing on more than one thing at once, the human brain is actually rapidly switching between the two tasks. Neither task receives the full focus. Instead of attempting to juggle a multitude of items, it is best to focus on a single task with full attention before moving onto the next item.

    The “multi-tasking” mentality has become so ingrained in today’s culture that many employees may mistake their balancing of tasks as a benefit. Often, the ability to multi-task is looked on as a source of pride. It is important to present research dispelling this notion and train employees the value of focus.

    3.  Encourage Employees to Stay Onsite – Many employees will leave the campus during lunch or breaks in order to get food or run errands…especially banking. Providing an onsite ATM can offer a safe, easy cash and bank account access without the stress and dangers of traffic and long lines.

    Onsite ATMs can bring additional benefits including financial institution partnerships and offerings. These often include special checking, savings and loan offerings as well as financial education and/or mentoring to help employees navigate personal financial landmines, plan for retirement and make other important financial moves.

    Providing the appropriate tools and training is essential in creating a safe and efficient workplace. Onsite ATMs, time management training and project management services are just a few of the ways HR managers can offer guidance to employees.

  • ATMatWork Nets SEG Success for Anderson Federal Credit Union

    When AFCU was considering Employee Group ATMs but couldn’t justify the expense and management requirements. Fortunately, there was ATMatWork.