Are companies allowed to pay you this way? (1 Viewer)

[Vickie_M]

Where do you store your money? In a safe?

I never said I didn't have a SAVINGS account, I just choose not to have a CHECKING account. I pay bills via Money Order, then I'm forced to know exactly how much cash I have and need to get by. Not having a checking account or credit cards sure helps me avoid impulse buys. I budget entertainment (going to the movies, for instance) and things like DVD purchases to coincide with when I know I'll have the cash.

Needless to say, I'm pretty much debt-free, and I like it that way. I like it very much.

 

[Michael*K]

Needless to say, I'm pretty much debt-free, and I like it that way. I like it very much.

By the way, what's "debt-free" mean?

 

[Sean Conklin]

I am with Vickie, although I do have a checking account, thats it, nothing more.
I am also with Derrick and Buzz, this is the dumbest damn thing I've ever heard of, an option yes, cool, but mandatory, no. I would be fuming. Corporate horsesh*t
I don't mean to sound bleak, but I believe most major companies are headed in this direction, somehow it all ties in with the One World Government system that is in the works. Really.

 

[Thomas Newton]

If you lose the card or it's stolen there is a 10 dollar replacement fee. You also get charged a 1.50 transaction fee if you withdraw from the account more than once per pay period. We have been told if we don't want to participate then we must quit or be fired.

Let's see ... your options are to withdraw all of your pay IN CASH at one time, thus increasing your losses if you get mugged ... or to get nickel-and-dimed if you go to the inconvenience of making multiple withdrawals as a safety precaution. (If there is a withdrawal limit on this card the way there is on ATM cards, there may be no way to avoid the nickel-and-diming fees and to still get the pay owed to you.)

Any employer large enough to be capable of setting up a fancy cash card system can certainly set up direct deposit. It seems fishy that the employer has set up this cash card system but is not willing to cut regular payroll checks or to do direct deposit, and has even allegedly threatened to fire employees who insist on being paid in a standard way.

 

[Michael*K]

Let's see ... your options are to withdraw all of your pay IN CASH at one time, thus increasing your losses if you get mugged ... or to get nickel-and-dimed if you go to the inconvenience of making multiple withdrawals as a safety precaution.

Once again, this statement is nothing more than alarmist posturing. The Comdata site clearly states here that the holder of a card can make a deposit directly to a bank account from an ATM without having to withdraw a single dime. And this page on the site tells how to make a direct deposit to your bank account from the safety of your own home. That is, unless you expect to be mugged on your home phone.

 

[Vickie_M]

By the way, what's "debt-free" mean?

I have the usual monthly payments for utilities, cable, Internet, and stuff like magazine subscriptions. I have no "long-term" debts, such as credit card, mortgage, car or loan payments. That's what I meant.
(I know credit cards don't have to be "long-term" if you have a card such as American Express where you pay it off every month, but I make them sound as scary as possible to myself to keep away the temptation of getting one. Believe me, there are times I REALLY WANT a credit card, but it's just easier not to have one. I'd probably be buying dozens of DVDs every week if I had one. Better to stick with what I have the money to buy at the moment than tempt myself. )
And, Derrick, sorry for the hijack.

 

[Michael*K]

Ah Vickie, I know what you meant. Just asked it tongue-in-cheek. I do have car, mortgage and credit card payments, so I'm more than a little envious of your situation.

 

[MickeS]

And people wonder why unions are needed. Sorry, couldn't resist!
/Mike

 

[Henry Carmona]

Once again, this statement is nothing more than alarmist posturing. The Comdata site clearly states here that the holder of a card can make a deposit directly to a bank account from an ATM without having to withdraw a single dime. And this page on the site tells how to make a direct deposit to your bank account from the safety of your own home. That is, unless you expect to be mugged on your home phone.

Wow, and i thought direct deposit was easy!!

 

[Sean Conklin]

Thats hysterical, I didn't notice that before, thats funny!
Sorry Derrick, I had to laugh at that sig! I didn't mean to get off topic, the situation sounds like baloney, big time.

 

[Joseph DeMartino]

Somebody has to be misunderstanding something here. How can you withdraw your whole paycheck via an ATM? In all the years I've been working I don't think I've ever received a paycheck where the net - after 401 (K), Health Insurance, Federal Taxes, Medicare, Social Security, and sometimes State and City taxes - came out to a number exactly divisible by $20 - which is the only thing most ATMs dispense these days. How would you get the singles, fives and small change?
Regards,
Joe

 

[Tom Rhea]

The Comdata site clearly states here that the holder of a card can make a deposit directly to a bank account from an ATM without having to withdraw a single dime. And this page on the site tells how to make a direct deposit to your bank account from the safety of your own home.

I have no bank account of any kind, neither checking nor savings, into which I could make any such deposit, nor do I wish to have one, having gotten along quite nicely for the past 8 years without having had my money screwed with or being nickled and dimed to death.

Does any page on the site tell me how to withdraw all of my paycheck at once from an ATM machine the way I get it all at once now from a teller (you remember them, actual people who work at the bank and hand you money?)

Under NY state labor law, employers have to have a permit even to pay employees by check instead of cash. If you don't live in NY, you may have no recourse except to find another job or allow yourself to be forced to accept something concerning YOUR money that you do not want to.

Welcome to Corporate America -- your rights may not exist.

 

[Glenn Overholt]

Please contact you labor board. If I remember this correctly, when you are paid you have to have access to all of your funds, and can even demand payment in cash! Call them up and let us know, please.

Glenn