MyPayCard Frequently Asked Questions for Employers
Enrollment and Program Options
Q. What information do I need to setup an employee with a MyPayCard?
A. See the MyPayCard Enrollment Form.
Employer Administration Website
Q. What is the maximum character length for the employee name fields?
A. The first name can be up to 10 characters and the last name can be up to 15 characters.
Q. Can I change an employee’s name and address on their MyPayCard?
A. Yes, first select the employer tab and then select update.. If you are changing an employee’s name, be sure to update the field ‘emboss name’ as that is the name that will appear on their card. Changing an employee’s name and/or address will not generate a new card. Complete the Bankers Trust MyPayCard Maintenance Form to request a new card for an employee.
Q. Can I order a new MyPayCard for an employee online?
A. No you cannot order a replacement card or reissue a card for an employee online. Complete the Bankers Trust MyPayCard Maintenance Form and follow the directions on the form to request a new card for an employee.. If the employee has changed his/her name or if the card is damaged, Bankers Trust will send a new card with the same card number. If the employee has lost the card, Bankers Trust will create a replacement card with a new card number.
Q. If a replacement MyPayCard is ordered, do I need to change the account number on my direct deposit file?
A. No, contact the bank, where they have specific procedures to order a replacement MyPayCard. The employee can still access their replacement MyPayCard with their same user ID and password. The system knows the new card is replacing the old card and will apply the funds appropriately.
Q. What fees are associated with my employees MyPayCard?
A. See the MyPayCard Terms and Conditions for all applicable fees.
Q. What happens to the employee’s MyPayCard when they no longer work for my company?
A. Please complete the Bankers Trust MyPayCard Close Card Form. The employee may continue to use their MyPayCard for 60 days. After 60 days the remaining funds on the MyPayCard will be disbursed to the employee by cashier’s check, applicable closing fees as noted in the MyPayCard Terms and Conditions. Bankers Trust will manage this process for you.
Q. What if an employee notifies me they lost their MyPayCard?
A. When you are notified by an employee of a lost card you will complete the Bankers Trust MyPayCard Maintenance Form and follow the directions on the form. A new card will be ordered for your employee. If the card has been stolen or fraud is suspected contact the Electronic Banking Department immediately so the card can be deactivated.
Q. Why should I offer the MyPayCard to my employees?
A. For each cardholder you will be provided an account number to use for direct deposit as if it were a checking account. When your direct deposit file is submitted with that special number as the checking account number, the Bankers Trust system will fund the employee’s MyPayCard for the amount of the direct deposit. Your employee can rest assured the funds will be added and available for immediate use without the hassle of paper checks.
Q. How do I encourage my employees to sign up?
A. The MyPayCard has all the quick and easy benefits of direct deposit! For those employees who are currently receiving paper checks the added benefits are:
- No waiting in line to cash a payroll check
- No check cashing fees
- Pay bills online using Bill Payment – no money order fees
- MyPayCard can be used at thousands of merchants that accept Visa
- Fast and easy availability to funds
- Access to funds and account transaction and balances 24/7
- Funds on the MyPayCard are FDIC insured
Q. How much work will I need to do to run the program?
A. You will use the MyPayCard Employer Administration website to create a MyPayCard for each applicable employee. During the setup process you will be given an employee ID number which will be used like a checking account number in your direct deposit processing. That’s it! The employee’s payroll will be deposited to the MyPayCard just like your other employee who receive direct deposit to their check or saving accounts. On occasion you may need to update an employee’s name and/or address.
Q. How many cards can I order for an employee?
A. You can order one card per employee. Currently a spouse card is not available.
Q. What functions can I perform on the MyPayCard Employer Administration website?
A. The following functions can be performed on the MyPayCard Administration website:
- Add a new employee (generate card for employee new to MyPayCard)
- Search for an employee
- Update an employee (update employees name and address information)
- Review funding history (verify funds have been added to a MyPayCard)
Q. Where are Bankers Trust ATM’s located?
A. Click here to find the nearest ATM.
Q. Are there any types of transactions that are restricted on the MyPayCard?
A. When using the MyPayCard to purchase gas they must pay inside and not at the pump. The MyPayCard cannot be used for online gambling or to reserve a hotel or for car rentals. While the MyPayCard cannot be used to make hotel or car rental reservations, it may be used to pay the final bill.
Q. Why would employees want a MyPayCard?
A. Your employee will enjoy the benefits of fast and easy access to their cash! No matter where they are funds will be added to their MyPayCard on payday. No more check cashing fees! They can use their MyPayCard anywhere Visa is accepted and can make cash withdrawals. The employee can use Bill Payment to pay their bills instead of using money orders which can be expensive and inconvenient.
Q. How much does it cost the employee to have a MyPayCard?
A. All fees are disclosed in the MyPayCard Terms and Conditions.
Q. Does the employee get a statement for their MyPayCard?
A. No, a printed monthly statement will not be provided unless the employee specifies on the employee website that they would like to receive monthly statements in the mail. Refer to the MyPayCard Terms and Conditions for applicable fees. They may also access their transaction history online or through the Voice Response Unit at no additional charge.
Q. How do we know funds are safe on the MyPayCard?
A. Funds are added to the MyPayCard by ACH direct deposit which is a fast and secure method and replaces paper checks, which can be easily lost or stolen and difficult to track. Once the funds are on the MyPayCard the employee can use the available funds immediately and they can monitor their balance and transactions online or by calling the Customer Care Center. Funds on the MyPayCard are protected by FDIC.
Funding and Balances
Q. What happens to unused balances on a MyPayCard?
A. If the employee is no longer an employee the card will be closed either within 60 days of the employees termination or sooner if requested by the employee or the employer (see Card Contingent on Employment in the MyPayCard Terms and Conditions). Bankers Trust will make every attempt to get unused funds to the employee. If the card meets the State of Iowa escheat requirements the funds may be escheated to the state if the employee cannot be located.
Q. Does the employee have access to all the funds on the MyPayCard?
A. Employees will have immediate access to the funds added to the MyPayCard. Some purchases made with the MyPayCard, such as signature-based transactions, places a hold on the funds authorized and therefore will no longer be available. The MyPayCard also has daily limits for withdrawals and purchases such as:
- ATM cash withdrawal $550
- Point-of-sale transaction (PIN-based) $550
- Point-of-sale transaction (signature-based) $2,500
- Cash Advance $1,500
Q. How do I do reversals on funds deposited on a MyPayCard?
A. MyPayCard reversals are processed the same as your other direct deposit entries. If your company processes the direct deposit through Bankers Trust, submit a completed ACH Delete or Reversal Form to the Electronic Banking Department.
Q. Who handles escheatment on a MyPayCard?
A. Bankers Trust monitors and will process escheatment as outlined by the state in which the employee resides.