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New York state Attorney General Eric Schneiderman is investigating some of the state's biggest employers over their use of ATM-like cards to pay employees. Mr. Schneiderman sent letters to Wal-Mart, McDonald's, Walgreens and others about the cards, which charge employees a range of fees for accessing their pay. [Dealbook]
New York state Attorney General Eric Schneiderman is investigating some of the state's biggest employers over their use of ATM-like cards to pay employees. Mr. Schneiderman sent letters to Wal-Mart, McDonald's, Walgreens and others about the cards, which charge employees a range of fees for accessing their pay. [Dealbook]
Really.
Good someone is taking up the offense on this preposterous practice. The employees for these companies often are working at lower wages as it is and these small charges add up and reduce their income while increasing a banks profits. These workers need to buy goods and services and to live day to day and this makes it even harder for them and their families. Too many people working and contributing to society who are being squeezed. It can be very de-motivating when one is working and either cannot, Or just barely makes expenses.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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As long as it's an option I have no problem with it. It costs money to process debit card transactions. If it turns out to be forced upon them then go prosecute. More likely, this was meant to help people that have no bank account, therefore can't use direct deposit, and would be charged even more at a check cashing place if they got a paper check. Small liquor stores or even 7-Eleven can just cash an employees paycheck for them but at Walmart or McDonalds that would be a nightmare.
Many employers have you automatically on the card to start. It's an option to keep it, but to get direct deposit (the other option) it usually takes 2-3 paychecks before it kicks in. You lose money in fees any way you try it.
Many employers have you automatically on the card to start. It's an option to keep it, but to get direct deposit (the other option) it usually takes 2-3 paychecks before it kicks in. You lose money in fees any way you try it.
Most can go dd in one pay cycle. That one is needed to protect the employee. A "check draft" process is run-to insure the transaction between the two bank accounts processes smoothly, and only than, is a live dd done.
Most can go dd in one pay cycle. That one is needed to protect the employee. A "check draft" process is run-to insure the transaction between the two bank accounts processes smoothly, and only than, is a live dd done.
The issue is that some people don't even have the option for a paper check. For example, Darden restaurants put you on the prepaid visa card when you start. You have two options after that: stay on the prepaid visa with all the fees or submit for direct deposit.
The issue is that some people don't even have the option for a paper check. For example, Darden restaurants put you on the prepaid visa card when you start. You have two options after that: stay on the prepaid visa with all the fees or submit for direct deposit.
I have no issue with the lack of paper check-it is an expensive option for the corp. I have an issue if direct deposit is not an option.
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