Prepaid Credit Cards providing free direct wage payments by bacs

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Direct Wage Payment

If you do have a bank account or you are constantly overdrawn which makes your well earned cash unavailable. Now you have an alternative to a bank account you can pay your wages into your prepaid credit card account. Once the funds are clear you can use your prepaid account to ensure you control your level of spending and pay off any overdrafts at your convienience. You can usually gain immediate and secure access to your account balance by phone or online. This makes it safer than carrying cash.

What does it cost?

To have your wages paid direcly on to your prepaid card account depends on the branded Visa MasterCard or Maestro issuer you have chosen listed below are some of the branded prepaid card companies that do it for free.

What do i have to do?

It should be quite simple either on the branded prepaid card companies website there should be a form for you to print off and give to your employer. if not give them a call and they can either email you one or post one to you. Once you have the form complete the relevant sections "Make sure you put your card number correctly on the form" and then give it to your employer, they will then complete the rest of the form and send it to the branded prepaid card company.

How long does it take to set up?

This depends on the branded prepaid card company but usually it should take about 5 working days, you can call them and request a quick set up to ensure no delays.

What is the difference between a wage payment and a standing order?

A wage payment is very similar to a standing order. Both wage payments and standing orders directly transfer money to your prepaid card account. Standing orders are used to pay money from your bank account to your prepaid card account.

Where wages payment automatically top-up your card on a regular basis and since you always know how much is available you can budget effectively.

How to get your wages paid directly into your prepaid card account

Most companies have online forms you simply print out, complete this and hand it to your employer to process. Once your employer has set up the payment process it will take an average of five working days for the funds to reach your account depending on your prepaid card supplier.