Your employees deserve a strong financial tool

With the Skylight® PayOptions Program, you can empower your employees with a paycard that helps improve your payroll process.

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Card use is subject to activation and ID verification.[1]

IMPORTANT INFORMATION FOR OPENING A CARD ACCOUNT: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens a Card Account. WHAT THIS MEANS FOR YOU: When you open a Card Account, we will ask for your name, address, date of birth, and your government ID number. We may also ask to see your driver’s license or other identifying information. Card activation and identity verification required before you can use the Card Account. If your identity is partially verified, full use of the Card Account will be restricted, but you may be able to use the Card for in-store purchase transactions. Restrictions include: no ATM withdrawals, international transactions, account-to-account transfers and additional loads. Use of Card Account also subject to fraud prevention restrictions at any time, with or without notice. Residents of Vermont are ineligible to open a Card Account.

Help your employees build a better financial future

The Skylight ONE® Prepaid Card is a feature-rich tool that helps your team to meet their goals

 

The Savings Account is made available to Cardholders through The Bancorp Bank, MetaBank, N.A., and Republic Bank & Trust Company; Members FDIC. To participate in the Savings Account program, Cardholder must consent to and continue receiving communications from us in electronic form. If Cardholder is subject to Internal Revenue Service backup withholding at the time of the request to open a Savings Account, the request will be declined. Interest is calculated on the Average Daily Balance(s) of the Savings Account and is paid quarterly.

  • If the Average Daily Balance is $1,000.00 or less, the interest rate paid on the entire balance will be 4.91% with an annual percentage yield (APY) of 5.00%.
  • If the Average Daily Balance is more than $1,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $1,000.00 will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $1,000.00 or less will be 4.91%. The APY for this tier will range from 5.00% to 0.54%, depending on the balance in the account.

The interest rates and APYs of each tier may change. The APYs were accurate as of May 7, 2020. These are promotional rates and may change without notice pursuant to applicable law. No minimum balance necessary to open Savings Account or obtain the yield(s). Because Savings Account funds are withdrawn through the Card Account (maximum 6 such transfers per calendar month), Card Account transaction fees could reduce the interest earned on the Savings Account. Card Account and Savings Account funds are FDIC-insured through The Bancorp Bank, MetaBank, N.A., and Republic Bank & Trust Company, Members FDIC upon verification of Cardholder’s identity. For purposes of FDIC coverage limit, all funds held on deposit by the Cardholder at The Bancorp Bank, MetaBank, N.A., and Republic Bank & Trust Company will be aggregated up to the coverage limit, currently $250,000.00.

Netspend does not charge for this service, but your wireless carrier may charge for messages or data.

When you choose the Skylight PayOptions Program, you are helping your employees to prioritize their financial well-being.

  • You can direct deposit their wages electronically onto a paycard, which means they don’t have to cash or deposit a paper check.
  • They can use a paycard to shop online, in store, or anywhere Visa® debit or Debit Mastercard® is accepted.
  • They can save money with an optional savings account[2] to help save for school, a vacation, even a new car. (Not available on cards issued by Regions Bank)
  • Employees can manage their money with budgeting tools in our Mobile App[3] and Online Account Center.

And those are just the basics.

Our powerful technology is your competitive advantage

We are a partner that helps you streamline your productivity, recruiting, and retention.

 

Potential savings estimates are from NACHA, The Electronic Payments Association, https://electronicpayments.nacha.org/direct-deposit/small-businesses/direct-deposit-small-businesses. NACHA’s calculation is based on industry averages for over thirty variables and is for directional guidance only. Actual results may vary. NACHA, Republic Bank & Trust Company and Regions Bank, and Netspend do not in any way warrant the savings results obtained using this calculation.

Employees prefer direct deposit to other payroll options to improve their financial well-being,[4] and are more likely to stay with your business and recommend you to others when they have them. Giving employees strong financial tools help boost workplace performance,[5] and our paycard product can help make your processes more efficient. With Skylight PayOptions, you can:

  • Offer direct deposit and other financial health tools that can help boost workplace satisfaction and retention.[6]
  • Save time on your payroll process by cutting and distributing fewer checks, and every direct deposit can save your company between $2.87-$3.15 vs a paper check.[7]
  • Make a move towards paperless payroll by cutting fewer checks.

We support you and your employees from day one with a seamless implementation experience, and top-of-the-line client and cardholder support.

We are a Fintech innovator

Our experience means you can focus on your people and your business

The Savings Account is made available to Cardholders through The Bancorp Bank, MetaBank, N.A., and Republic Bank & Trust Company; Members FDIC. To participate in the Savings Account program, Cardholder must consent to and continue receiving communications from us in electronic form. If Cardholder is subject to Internal Revenue Service backup withholding at the time of the request to open a Savings Account, the request will be declined. Interest is calculated on the Average Daily Balance(s) of the Savings Account and is paid quarterly.

  • If the Average Daily Balance is $1,000.00 or less, the interest rate paid on the entire balance will be 4.91% with an annual percentage yield (APY) of 5.00%.
  • If the Average Daily Balance is more than $1,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $1,000.00 will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $1,000.00 or less will be 4.91%. The APY for this tier will range from 5.00% to 0.54%, depending on the balance in the account.

The interest rates and APYs of each tier may change. The APYs were accurate as of May 7, 2020. These are promotional rates and may change without notice pursuant to applicable law. No minimum balance necessary to open Savings Account or obtain the yield(s). Because Savings Account funds are withdrawn through the Card Account (maximum 6 such transfers per calendar month), Card Account transaction fees could reduce the interest earned on the Savings Account. Card Account and Savings Account funds are FDIC-insured through The Bancorp Bank, MetaBank, N.A., and Republic Bank & Trust Company, Members FDIC upon verification of Cardholder’s identity. For purposes of FDIC coverage limit, all funds held on deposit by the Cardholder at The Bancorp Bank, MetaBank, N.A., and Republic Bank & Trust Company will be aggregated up to the coverage limit, currently $250,000.00.

Netspend does not charge for this service, but your wireless carrier may charge for messages or data.

We built the paycard market from the ground up, with over 15 years of experience in providing proven paycard solutions to our clients. We are a Global Payments Company that has the industry experience and know-how that you need.

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