The U.S. Bank AccelaPay Visa is a payment card designed to replace costly paper checks in a broad range of recurring business cash disbursement needs including payroll, commissions and travel advances.
The AccelaPay Visa Card helps businesses reduce payment expenses by replacing paper checks with an efficient electronic payment solution. Funds are deposited to an AccelaPay Visa Card account just like direct deposit to a checking account. The card works like any Visa card, but is not a credit card—cardholders only access funds transferred to the card.
This cost-effective solution also gives companies a new employee benefit, as it provides a safe, convenient and economical pay program for unbanked workers. There are over 27.1 million unbanked employees in the United States. Many employees incur significant expenses every payday for check cashing, which can cost two to 14 percent of the value of the check at cashing services. Everyone is eligible for an AccelaPay Visa Card. There are no credit checks or bank accounts required.
The AccelaPay Visa Card solution delivers real cost savings to employers. AccelaPay Visa can eliminate costs associated with: replacing lost or stolen checks, check fraud, reconciling checks, expressing checks to remote employees, giving time off to “cash a check” and escheatment of uncashed checks. An AccelaPay Visa Card program can also increase employee satisfaction. Studies have shown that getting paid on a Visa card improves employees’ opinions of their employers.
Cardholders have multiple ways to access their AccelaPay Visa Card funds: Make purchases at millions of locations worldwide that accept Visa debit cards, get cash at more than one million Visa/PLUS® ATMs, pay recurring bills, get cash back with PIN-based purchases at merchants like supermarkets and retail stores, get over-the-counter cash advances at all banks and credit unions that accept Visa.
The AccelaPay Visa Card gives cardholders a safe, convenient and economical way to receive and use all types of business payments—no issues with remote-location payments, no extra trips to cash a check, no check-cashing fees and no need to carry lots of cash.
The AccelaPay Visa Card opens the door to the purchasing power and convenience of Visa. The cardholder can shop everywhere Visa debit cards are accepted—including online, by mail order and over the phone. If a card is lost or stolen it can be replaced, and Visa’s Zero Liability Policy protects cardholders against confirmed fraudulent purchases, when they report the loss of the card immediately.
An AccelaPay Visa Card program is an easy choice for businesses. U.S. Bank provides a full range of cardholder education and enrollment materials. Employees or distribution recipients need only complete a brief enrollment form to begin enjoying the convenience and safety of an AccelaPay Visa Card.
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