Pay Card | Vault Visa® Payroll Card | Paycom (2024)

FAQs

What is a Visa payroll card? ›

Visa Payroll cards are a convenient way to pay both W2 and 1099 workers. Each pay period, employee pay is automatically loaded into their accounts, for instant easy access to funds.

In the event that you have to use an ATM outside of the Allpoint network, you will be assessed a $2.50 ATM fee. Virtual cards are currently not accepted by Allpoint ATMs, only physical cards can be used. The daily ATM withdrawal limit for your Vault card is $500. An error occurred.

The Card cannot be used after expiry. After its expiry, or cancellation for non-activation, any balance will be forfeited to Vault, and the Card will be declined when presented for use. We will not give you any notice before this happens.

A payroll card is a "stored value debit card", which is "reloaded" every pay day or at other times through an ACH direct deposit transaction. It is not a credit card, and you may not spend or withdraw more than the amount available on the card. It does not extend credit to individuals, it works like a debit card.

ATM withdrawals.

You also can use your payroll card to access cash at ATMs. Some payroll cards offer one or more free in-network ATM withdrawals per pay period. You can locate in-network ATMs online, at the same website where you log in to your card account, or ask your employer for a list.

Yes! You can easily transfer your funds from your Vault account to any external bank account for a small fee. Normal ACH transfers incur a $0.25 and can take 3-5 business days to appear in the external account while accelerated transfers incur a $0.50 fee and can take 1-2 business days.

Payroll cards provide employees with an alternative way to collect wages. Payroll cards can be used for automatic bill payments or to get cash at an ATM. Payroll cards can be replaced if lost or stolen, and employees and employers can add funds to their payroll cards.

get cash without a fee at thousands of Allpoint^® ATMs nationwide. make purchases everywhere Visa^® debit cards are accepted. get cash back at retailers who offer this service (retailer may charge a fee and limit cash back amount)

Why might my debit card be denied even if I have money in the account? It indicates an expandable section or menu, or sometimes previous / next navigation options. Your debit card may be denied due to overdrafting, reaching daily purchase limits, or your bank suspecting fraud.

The Vault Visa^® Payroll Card is issued by The Bancorp Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A., Inc. and can be used everywhere Visa debit cards are accepted.

How long does it take for a vault card to deposit money? ›

With the Vault card and mobile app, employees can get paid up to two days earlier* every payroll cycle. It is a financial lifeline for families in a time of high inflation and eliminates the need to spend money on fees for cashing a payroll check.

Just as a normal debit card, a payroll card can be used for different payment processes, including making in-store and online purchases, withdrawing cash from an ATM, and paying bills. There are different payroll card providers on the market that offer their own payroll card systems with varying fees and services.

Can Paycards Be Overdrafted? Paycards function like debit cards, allowing holders to use only loaded funds. Employers can use a payroll card program that permits overdrafts to employees. However, this usually is not a good option due to overdraft fees.

Credit bureaus don't receive information from prepaid card transactions, so you can't use a prepaid card to build credit history.

A payroll card is a prepaid card employers can use to pay an employee's wages or salary each payday. Payroll cards allow employers to pay employees who do not have bank accounts. Payroll cards include the ability to pay bills and shop online.

Payroll cards are prepaid debit cards to which employers transfer employee wages and salaries. The payment process is similar to direct deposit, but the employee doesn't need a bank account to receive the money.

Some employers opt to pay employees with a payroll card because it may be easier and less expensive than other forms of payment, while others want to accommodate unbanked or underbanked workers who cannot accept direct deposit.

Before you agree to receive your wages on a payroll card, make sure you understand those terms and fees. For example, some cards charge fees for out-of-network ATM withdrawals, receiving paper statements, or checking your account balance at an ATM. Some cards charge fees every time you make a purchase.