For payroll teams working to streamline payments and reduce reliance on paper checks, employee access to banking can play an important role. Yet millions of U.S. workers still lack access to traditional banking services—more than 5.6 million households remain unbanked and 19 million are underbanked¹—meaning many employees still rely on paper checks, payroll cards, or check-cashing services to access their pay.
When employees don’t have access to traditional financial services, payroll teams often must support alternative payment methods that increase administrative effort, cost, and fraud exposure. As organizations work to reduce friction and streamline payroll payments, access to banking becomes an important part of the solution.
Join Greenshades and OnePay for a discussion on how expanding access to banking and direct deposit can benefit both employees and employers. We’ll explore how improving financial access can help employees more easily receive and use their wages while enabling organizations to simplify payroll operations and reduce reliance on paper payments.
In this session, you’ll learn:
- How financial access challenges impact both employee financial wellbeing and payroll operations
- The operational and fraud risks tied to paper checks and manual payment methods
- How expanding access to banking and direct deposit can benefit both employees and employers
By bringing payroll and financial access together, employers can create a true win-win: improving employee financial wellbeing while making payroll more efficient, secure, and cost-effective.
1 https://www.fdic.gov/household-survey2 https://www.nacha.org/news/ach-costs-are-fraction-check-costs-businesses-afp-survey-shows
