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Home : Products and Services : Treasury Services : Treasury Management : Managing Payables : Stored-Value Cards

Stored-Value Cards

The simple alternative to paper payroll checks

DirectLine2Cash^® stored-value pay cards are ideal for businesses that want to give employees an alternative to traditional paper paychecks. DirectLine2Cash^® cards work like debit or credit cards and can be used at bank machines and retail outlets around the world.

Unlike a debit card, however, a DirectLine2Cash^® card is not linked to a bank account, making it especially suited to employees without a traditional banking relationship, or employees who are mobile. It can also be used to distribute employee bonuses or per-diem travel expenses. Furthermore, the card uses a PIN for security, and is easy to cancel and re-issue if lost or stolen.

BMO Capital Markets offers two payroll card programs: one that functions as a debit-style card; and a MasterCard that allows credit transactions and cash advances.

Benefits:
	Reduced costs - DirectLine2Cash^® integrates with your existing ACH direct deposit service, cutting the expenses associated with check printing, mailing, reconcilement and fraud
	Streamlined processing - all payroll processes, including stored-value cards, execute through one ACH file
	Employee satisfaction - gives employees the convenience of debit cards and instant access to funds, without check-cashing fees