Quote:
Originally Posted by Rex E.
What is the fee to the company for direct deposit? I don't know if the banks charges for this service on their side ( I'm sure if they can they will).
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Here is an answer from the linked article: "a calculator on Visa’s Web site estimates that a company with 500 workers could save $21,000 a year by switching from checks to payroll cards."
So in effect Visa is getting free use of the payroll money till it's spent and on top of that gets additional fees to disburse it. What a great racket and another example of how it pays to be the middle man.