Weview Wednesday: Standard Bank Paycard

prelin —  January 23, 2013 — Leave a comment

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The Standard Bank PayCard is a service that allows you to load cash onto a prepaid card in order to enjoy the safety that card purchases provide.  At the moment 2700 cards are being used for the Orange African Cup of Nations, for daily food purchases by the volunteers. The cards are a great way to control spending of employee’s or even family members. Employees can withdraw cash from ATMs and pay for purchases with or without cash back at merchants. The cards takes away the risk of managing and carrying large amounts of cash. In addition PayCards maybe used for multiple salary or wage payments to each employee. Cards expire after 3 years.

The benefits of a PayCard include:

  • No time wasted in banking queues or cheque-cashing stores
  • Access to your money anytime and anywhere
  • Safer as you do not need to carry your entire wages on pay day
  • You can receive your pay even when you not on the job on payday

How to register?

  • Follow the “sign me up” link on the homepage of the website (www.paycard.co.za)
  • complete the details of the profile holder
  • send through your application for approval(electronic)
  • approval takes 24 hours, you’re then ready to order cards.

How to order cards…

  • Once you have an approved profile, funds would need to be transferred into it(a simple eft/deposit process)
  • Login on the PayCard website
  • Cards can be ordered in the “order cards” link on the website. You may select the number of cards to order(even as little as one)

Once received, these cards are allocated to the specific user(ID number, name etc), loaded with funds from the profile, and are ready for use immediately.

Pro’s:

  • Cards delivered to your doorstep
  • Funds instantly accessible once loaded onto cards
  • All POS transactions (swipes)are free
  • A “bulk load” feature that allows multiple card loads will be useful for company’s using the PayCard
  • Issued by Standard Bank, processed by Tutuka, and with backing by MasterCard, the card is reliable, safe, and an easy-to-use product

Some great uses of a PayCard include:

  • Construction companies pay their bricklayers, tilers, welders and plasterers with the Standard Bank PayCard.
  • Teachers are given the cards by the School to use on school trips.
  • NGO’s use it to pay their staff.
  • Farmers use it to pay their farm laborers.
  • A number of companies use it to give to their office managers to use for various office expenses.
  • Company employees that are concerned about the safety of funds and who feel their personal security may be threatened, use the Standard Bank PayCard to pay their workers instead of cash.
  • Companies give it to staff members who don’t have a bank account.

The Paycard is an excellent way to help safeguard staff against theft and fraud. Help secure workers safety with a Standard Bank PayCard.

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