We have introduced a simple alternative to cash or cheque payment of salary, wages or petty cash. If you use cash or cheques to pay your employees; you can now make payments to a disposable PayCard. Once the cards have been loaded the card can be used to withdraw cash at any Standard Bank or other local banks’ ATMs or it can be used to pay for goods and services at any merchant where the MasterCard logo is displayed. The cards takes away the risk of managing and carrying large amounts of cash. PayCards are - so they may be used for multiple salary or wage payments to each employee. Cards expire in 12 months.

You can purchase unloaded PayCards from the secure PayCard website www.paycard.co.za or via www.standardbank.co.za. You need to register for the service and accept the terms and conditions on the website. An email confirming registration is sent to you within 1 day. You need to respond to the email as requested.

Cards are ordered on the website and must be paid for using an electronic account payment. A reference number will be allocated to you and all payments made by you relating to PayCards must contain this reference number. Payments from a Standard Bank account will take 1 business day, payments from other banks can take up to 3 days. Please take this into consideration when planning payments.

Once payment has been received, the card order will be produced and delivered either to your nearest branch or your premises. An email will be dispatched confirming order has been placed and is ready for collection.

Once you receive the cards you will be able to allocate the cards to your employees. Their full names and Identification numbers are required. If you have their cell phone number, this will assist us in communicating with your employee. It is however not mandatory to capture this field.

Calculate the value of payroll and pay via electronic account payment into account number provided using your unique reference number and allowing sufficient time for payment to be received. Cash and cheque deposits will not be accepted.

Transfer funds from your PayCard account to employee’s cards as required. You will be able to load an activation time and date.

As an employer you can be safe in the knowledge that the PayCards are not loaded or active until the specified date and time. You can then distribute the PayCards to each employee, together with the PIN in a sealed envelope before the cards are activated.

When cards have been activated, the risk of holding “cash” is passed to your employees, who can withdraw their cash or use the card to make payments at merchants.

Each time the card is loaded or reloaded, the employee has one free Standard Bank ATM or AutoMoney withdrawal, one free Standard Bank ATM balance enquiry. Purchases at merchants are free. The employee will be charged for any additional transactions.

The re-loading process is the same as the initial loading process. You will simply need to transfer funds to your employees.

Cards can be re-loaded until card expires. Any balance remaining on the card on expiry can be transferred by you to a new card.

A PayCard does not replace a bank account. Employees can only withdraw cash from ATMs and pay for purchases with or without cash back at merchants. Only you can deposit funds into the card. The maximum load / re-load amount is R5 000 and the balance on the card cannot exceed R5 000. No debit orders can be processed against the card.

If a card is lost or stolen, or the cardholder forgets their PIN, a replacement card has to be issued by you. You or your employee can stop the card by calling 0861 11 51 96 or you can stop the card on the website. Once the card has been stopped, you will be able issue a replacement card and transfer the funds from the lost or stolen card to the new card. Any transactions made before the card was reported lost will be a loss to the cardholder.

Cards are produced with a PIN and are attached to a card carrier showing how to use the cards at an ATM. On the reverse of the card carrier are the terms and conditions in English.. These terms and conditions are available in Afrikaans on the website.

Employer

If you have any questions, please contact the Standard Bank call center on 0861 11 51 96.