Paying staff with prepaid credit cards

[rpguk]

Despite my best efforts, I've got a few guys (around 30 perhaps) who still get paid cash. This is mainly £60-150/week but it's becoming a pain to get them all paid as they work on different sites and at different times. Often I'm risking life and limb racing about London on a bike with a bag of money come Friday afternoon.

Now these last stragglers for whatever reason can't get hold of a bank account as many of them live in shared houses and don't have utility bills etc.

So my idea is to dish out those prepaid credit cards. Has anyone used them for this purpose or have any other ideas? Don't want to pay more then a tenner a pop if I can avoid it and certainly no top-up fees. The Splash Plastic one seems to be OK, but I'd be interested in any other options too, particularly if you've used them as I don't want to roll out something which is going to leave my guys without money come the weekend.

All employees are legal and money is paid above board btw.

Edited by rpguk on Thursday 21st August 12:57

[Timja]

My mate got a Barclays Oyster credit card for free, usually £10. Think just through Barclays. I believe this is a prepay card and he uses it for the tube and also you can use for small purchases up to £10 just by waving the card passed something by the till...

[Pappa Lurve]

Splash is OK but there are far better out there. IDt Prime is probably the best - I should point out that I worked there and was responsible in part for the creation of that product. I am now working at another comapny, not offereing pre-paid cards but working on the market and I have consulted on a number of projects so I have no ax to grind but I am reasonably well known in this area.

How important is an automated gateway for you to make payments? I would assume some kind of web based would be ideal? Depends in the staff turnover etc. Allso, can all staff provide ID or will the cards be in your name? Feel free to IM me for my number if you want a personal chat.

[Pappa Lurve]

Timja said:

My mate got a Barclays Oyster credit card for free, usually £10. Think just through Barclays. I believe this is a prepay card and he uses it for the tube and also you can use for small purchases up to £10 just by waving the card passed something by the till...

Indeed it is - but the pre-pay section only works for Oyster. Other than that it is a normal credit card with all that goes with it which involves credit checks etc. Not really the same as a pre-paid debit card which I assume is what the OP is looking for.

[rpguk]

Pappa Lurve said:

Splash is OK but there are far better out there. IDt Prime is probably the best - I should point out that I worked there and was responsible in part for the creation of that product. I am now working at another comapny, not offereing pre-paid cards but working on the market and I have consulted on a number of projects so I have no ax to grind but I am reasonably well known in this area.

How important is an automated gateway for you to make payments? I would assume some kind of web based would be ideal? Depends in the staff turnover etc. Allso, can all staff provide ID or will the cards be in your name? Feel free to IM me for my number if you want a personal chat.

Thanks!

How do you mean about automated gateway to make payments? It is quite important that they can be topped up via BACS, the splash one seems to allow this by putting the account number in the payment reference field, so that's what would be best really.

All the staff have passports, but proof of address is the tricky part. I don't mind who's name they're in but once the schemes running new cards would ideally be ready in a week or so.

They don't even need to be debit cards, just cash point cards would suffice.

Funny you should mention IDT Prime as that's where the idea came from as I bought one to book a flight when I was out without cards. The bloody registration line was down and so I couldn't book the flights and then I was left with a very expensive bit of plastic which I had to pay to get the money off Customer service bods were helpful though and I guess these things happen. I didn't think they allowed top up by BACS though do they?

Edited by rpguk on Thursday 21st August 16:50

[Pappa Lurve]

They didnt when I left but I know it was supposed to be live a few weeks back, or at least that was the plan. Just called them and actually seeing one of the girls from there in about two hours, so I shall ask her.

If not, splash is not a bad product at all but I'll check and see who else has BACS and if they are any better for you tomorrow if you like.

Cheers

PL

[Adam T]

Do your boys know that your thinking of paying them this way?

That would be my first port of call - althuogh i appreciate your position.

[rpguk]

Adam T said:

Do your boys know that your thinking of paying them this way?

That would be my first port of call - althuogh i appreciate your position.

Girls mainly but no, I've not mentioned it. I've been on at them for as long as I can remember about getting bank accounts and I saw this as a way to help those who can't.

I can't see why they'd have a problem though. The only issue is the ATM fee, but I'll bung another £2.50 to cover the cost of pulling it all out in cash in one go.

[KingRichard]

rpguk said:

Adam T said:

Do your boys know that your thinking of paying them this way?

That would be my first port of call - althuogh i appreciate your position.

Girls mainly but no, I've not mentioned it. I've been on at them for as long as I can remember about getting bank accounts and I saw this as a way to help those who can't.

I can't see why they'd have a problem though. The only issue is the ATM fee, but I'll bung another £2.50 to cover the cost of pulling it all out in cash in one go.

You run an escort agency don't you? Awesome