Q: Who is Elan?
A: Elan is a division of U.S. Bank, the 6th largest bank in the U.S., with more than $200 Billion in assets. Because Elan is a Processor, Issuer, and Network, Elan has control over all of the PayCard Servicing, ensuring our customers the highest quality service at the lowest possible cost.

Q: Why should I offer a PayCard to my Employees?
A: As an Employer, you can save significant costs for both your company as well as your Employee. For your company, you can eliminate all current paycheck costs, including reconciliation, fraud, escheatment, etc. You will gain productivity, as Employees do not have to go anywhere to cash or deposit their paychecks on payday. Your Employee, with a PayCard, will get instant access to their pay first thing on payday, without having to stand in line. Employees will be able to save money, as they will not have to pay check cashing fees or even bank account charges – they can get cash at low or no cost through thousands of MoneyPass ATMs or Cash-Back at most large Discount Retailers and Grocery Stores. They can also use their PayCard to transfer funds and pay bills more safely and conveniently than they do currently. The PayCard is also far safer than carrying cash, and gives your Employee a record of each transaction.

Q: Can I eliminate all my Paychecks?
A: Depending upon the laws of your state and the opinion of your legal advisor, you may be able to eliminate all your Paychecks. Most states require that Employees be able to gain “free and clear” access to their payroll funds. The Elan PayCard program provides several “free” alternatives for Employees.

Q: How much does it cost me?
A: The Elan PayCard program is designed to be low or no cost to Employers and Employees. Elan does not charge Employers any costs for standard Direct Deposit, and there is no cost for cards for Standard PayCard programs (e.g. for Employers with average turnover - there may be card costs for seasonal or temporary employees).

Q: How do I get my Employees to sign up?
A: Elan provides a simple “One-Step” Enrollment process that any Employer may use. We also provide additional customized approaches based upon your individual requirements.

Q: Won’t Employees be unhappy to be forced to change from checks?
A: There will always be some resistance to change. Elan believes that the most critical element of any PayCard program is Employee satisfaction. We have developed several approaches that can be tailored to individual Employer’s needs to help convince Employees of the value of the PayCard to them.

Q: How much work will I need to do to run the program?
A: Elan has designed the PayCard program to minimize the work required by the Employer. Depending upon the your individual requirements, the program may need as little effort as is involved with traditional Direct Deposit.

Q: How long will it take to get started?
A: Depending upon your requirements, you may have pay on your Employees PayCards in as little as four weeks.

Q: How does Employees’ pay get on the cards?
A: Elan PayCards primarily use the Direct Deposit process for payroll. So all you need to do is sign your Employee up for the PayCard the same way as you do your Direct Deposit Employees, and process them with your Direct Deposit payroll, using the PayCard card number in place of the Checking Account Number, and the PayCard Transit Routing Number in place of the Employees’ bank’s number. To manage special situations, or for employers who do not have access to Direct Deposit, Elan provides a Funding PayCard that allows you to put funds on your Employees PayCards real-time. In addition to managing everyday pay, the Funding PayCard can manage special situations (to handle errors and “last day pay” issues). Funding PayCards are subject to the same pricing as your employees’ PayCards.

Q: How do I know that the money will be there?
A: The PayCard works just like Direct Deposit, so that the PayCard funds will be on cards at the same time as Direct Deposit is in Employees’ bank accounts.

Q: How do I handle pay errors?
A: Generally, you will handle pay errors the same way as you would with Direct Deposit Employees. You also have the option of using the Funding PayCard for “Real-time” error correction when the Employee has been underpaid.

Q: How do I handle emergencies or “last day” pay?
A: Elan provides the option of a Funding PayCard. This is a PayCard owned by the Employer, and pre-funded to handle special situations like emergencies and “last day pay”. The Employer can transfer money to the Employee “real-time” through the Funding PayCard over a secure Internet connection into PayCardConnect or via the telephone.

Q: How do I know the funds are safe?
A: Employee funds are held and managed by U.S. Bank, the 6th largest bank in the U.S., and are FDIC insured.

Q: Who handles Escheatment?
A: Elan has responsibility for Escheatment once the funds have been transferred onto the Elan PayCard.

Q: Who takes the risk of loss, fraud or theft?
A: Once the funds are transferred onto the Employees PayCard, Elan is responsible for any losses from lost cards, Fraud or Theft, as long as any such activity is reported on a timely basis and unless the Employee or Employer is implicated in the Fraud or Theft. Thus, a PayCard is far safer than a paycheck or cash for the Employee, as the funds will be replaced onto a new card.

Q: Why would an Employee want a PayCard?
A: Your Employee, with a PayCard, will get instant access to their pay first thing on payday, without having to stand in line. Employees will be able to save money, as they will not have to pay check cashing fees or even bank account charges – they can get cash at low or no cost through thousands of MoneyPass ATMs or Cash-Back at most large Discount Retailers and Grocery Stores. They can also use their PayCard to transfer funds more safely and conveniently than they do currently. The PayCard is also far safer than carrying cash, and gives your Employee a record of each transaction.

Q: How many cards can an Employee get?
A: There is no limit placed by Elan as far as how many PayCards an Employee may have. The Employee may get cards for a spouse, children, or other dependents. Many employees who today transfer funds to relatives outside the US obtain a second PayCard under their name and send the second card on that PayCard to their relative.

Q: How much does it cost the Employee?
A: Elan has specifically designed the Elan PayCard to be inexpensive for the Employee. We do not charge any monthly or annual fees, or for Internet Balance Inquiries, Statements, or for POS transactions, including Cash-Back. Therefore, the PayCard can be completely free for the Employee. If the Employee desires the convenience of ATM Withdrawals, Transfers, or other optional services, there is a modest fee associated with these services. For Employees who do desire to use ATMs for cash access, Elan is pleased to provide Surcharge-Free access to thousands of convenient ATMs nationally through our MoneyPass Network.

Q: Where can my Employee use their PayCard?
A: Depending upon the card selected, for PIN-based PayCards, Employees may use their Elan PayCard at over 800,000 ATMs and over 5 Million retailers in the US and around the world that display the MoneyPass, and either Cirrus or Maestro logos, or Plus and Interlink logos. For MasterCard PayCards, Employees can use their PayCards at all Cirrus or Maestro locations, as well as at over 18 Million locations worldwide that bear the MasterCard logo. For Visa PayCards, Employees can use their PayCards at all Plus and Interlink locations, as well as at over 18 Million locations worldwide that bear the Visa mark. In addition, Employees can transfer funds to other Elan PayCards or Deposit Accounts at US Financial Institutions, or pay Bills with their PayCard.

Q: What if the Employee loses their PayCard?
A: If the Employee loses their PayCard, they must call Elan PayCard Services to report the loss. Elan will make sure that they get a replacement card immediately. As long as the loss was reported promptly, and the Employee was not involved with any criminal activity that causes a loss, the Employee will also have their full balance from before the loss replaced immediately. The employee must report their new card number to you to make sure that their next pay is deposited onto their new PayCard.

Q: Does the Employee get a Statement?
A: Yes, there is a Statement available to the Employee. This can be accessed either through PayCardConnect, or a Statement may be mailed at the Employee’s request.