From an employee's perspective, there are intrinsic advantages and benefits when using a paycard offered to them by their employer instead of being paid each and every pay period via a traditional paper paycheck.
A paycard allows employees to:
- avoid check-cashing fees that may be incurred accessing wages each payday;
- save time as they no longer need to wait in line to cash their paychecks at banks or check cashing establishments;
- access their wages via 24-hour ATM networks;
- access wages on days off or during vacation;
- enjoy immediate access to their wages rather than waiting for their paychecks to arrive in the mail;
- experience increased safety and security associated with not having to physically carry cash after cashing a paycheck;
- purchase goods and services at point-of-sale terminals within stores and, if the card is branded, over the internet or by telephone;
- decrease exposure to identity theft;
- decrease the chance of not being paid timely due to unforeseen circumstances, such as natural disasters.