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ATM card for salary

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  • ATM card for salary

    It is usual now that employees receive their salaries thru their ATM account so that they can just withdraw the money during payday as opposed to the pay envelope containing cash. The banks were the pioneers in that ATM salary since they want to promote the ATM. It is a great convenience for the HR to do away with the tedious pay envelope which involves counting of the money that takes at least 1 day to do. The error in accounting the cash is also avoided.

  • #2
    Re: ATM card for salary

    For most white collar jobs, disbursing monthly salaries through ATM cards is a common practice. Although blue collar workers are starting to experience the same system, there are still employers who are adamant in giving out salaries the manual way (cash). Those types of employer are rather old fashioned and need to keep up with the changing times.

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    • #3
      Re: ATM card for salary

      In my country, this is a general practice for most business. The government has led the way with this practice and business, large and small, have followed suit. At the end of the pay period, you will be given a pay advice with the salary details and the pay will be deposited to an account which is accessed through the ATM. This arrangement is favorable to both the employee and the employer, the employee will be able to access the funds at their own convenience, and the employer will be relieved of the check processing fees.

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      • #4
        Re: ATM card for salary

        Where I am from not using direct deposit into a bank account isn't even an option anymore. When I first started we used to get paper checks that could be cashed on pay day. About two years ago we received a memo stating that all paychecks had to be directly deposited into an account of some type. I could see how this may be an issue for someone who doesn't have a bank account but there are other options available to someone in this situation. Someone bringing an envelope full of money on pay day provides a huge temptation for a lot of people. Personally I think a paper check or direct deposit is the way to go.

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        • #5
          Re: ATM card for salary

          I think these days it is best because machines are already everywhere anyway and it has gotten way easier to check balance or withdraw than ever. The only minor problem is that sometimes it's not possible to withdraw due to maintenance but that happens rarely enough that it can be overlooked.

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          • #6
            Re: ATM card for salary

            It's really the most convenient mode these days since and i think most employees prefer it this way anyway. I personally like it as well as opposed to receiving checks where you still have to go to the bank and en-cash it, it's too much hassle. We are advancing technologically today and it's really a huge help.

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            • #7
              Re: ATM card for salary

              In my younger years of employment, I had undergone training for computer programming and one assignment for my practicum was to work in the team handling the payroll system of our company. I was tasked to make a program for denomination. That means my program have to computer for the salary of each employee in terms of denomination in bills and in coins. For example the salary is 560 so that will be computed as 1 piece of 500 bill and 3 pieces of 20 bills. Can you imagine that all those money had to be counted by hand and re-counted by another and verified by the supervisor - the counting is for each pay envelope. When the ATM salary was implemented, the HR had a sigh of relief.

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              • #8
                Re: ATM card for salary

                I think that for the last 20 years or so salary payments had been through ATM. It's the most convenient and safest way to pay salaries in places where there are ATMS/banks. If it was possible to do decades ago when online banking wasn't a norm, it is even more possible now even without a formal arrangement with a bank because a business owner or a trusted employee can simply make an online transfer to company employees. In the past when there were no internet, we had to convert the payroll summary to CSV format and save it in a diskette then take the disk to the bank so they can upload it to their server and be credited to employees' account. With the advent of the internet, we can just do it in the office.

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                • #9
                  Re: ATM card for salary

                  I think employees being paid via their debit card is so much easier and secure. Back in the day you needed to go to HR and get an envelope full of cash which was risky to carry around, let alone the fact there could've been issues with your salary. Now that technology is everywhere it's so much easier to pay your employees via ATMs.

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                  • #10
                    Re: ATM card for salary

                    Most jobs here in our place pay thru debit cards and it is convenient. When I worked around 12 years ago, 14 years ago, the company I worked for paid us in an old fashioned way but it was good since I never experienced any delay when it comes to them paying us. Then after a few years, I worked for a small company who used the same method of payment, but the problem is, the money would get delayed for a week or two. We get paid twice a month, so if the payment got delayed for two weeks, the company must pay us a month's pay in full, but what happened was we got paid for just 15 days of work and the company always owed us either 15 days worth of salary or a month's worth. Later on we found out that the company didn't have any problems, the person who was in charge of paying the people was using the money for gambling.

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                    • #11
                      Re: ATM card for salary

                      I think the salary thru ATM is now the standard. Even factory workers and part timers line up the ATM machine during payday. It seems that only a few companies are now paying salaries in cash. This is an advantage to the banking industry because it is clear that depositors are growing because of this new standard on payroll.

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                      • #12
                        Re: ATM card for salary

                        ATM is always like a supporter of workers.They can withdraw any amount of money at any time.ATM is a more convenient and reliable way to withdraw the money.The workers can easily get their payments through ATM without standing in the lines for a long time.

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                        • #13
                          Re: ATM card for salary

                          I think paying salaries to workers through ATM is really good. It will be easy for employers to pay their employees salaries and also convenient for the employees.

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