Friday 15th June 2007
A new pre-paid Visa card is to simplify the process of paying wages to employees with no bank account, it has been claimed.
Card provider Alliance & Leicester suggests that the product may eliminate the potential for fraud by removing cash and cheques from the payroll process.
James Le Brocq, director of pre-paid cards at Alliance & Leicester, states: "As a leading bank we are able to provide everything payroll managers require in banking terms - supported by a dedicated relationship management team."
He adds that the three major advantages of the system include simplification, cost savings and an improved experience for the employee.
Meanwhile, the financial services provider advises that the card may be used in the same way as a standard Visa debit card.
Research previously conducted by Visa UK found that the use of cheques is on the decline, with the documents accounting for about two per cent of transactions in 2006.
©
Everything on preparing your finances for your children's futures. From Child Trust Funds through to tax planning. Request your FREE brochures here.
