The Bank of America CashPay Visa Card is a prepaid card that allows employees to receive their paycheck via direct deposit from their employers. Employers have switched from using paper checks to paycards as they are cheaper and more convenient to use. Employees also enjoy receiving their pay on these cards as they can immediately begin using it to make purchases online or anywhere the Visa logo is accepted.
Some of the conveniences of having a BofA Visa card is employees save money because the card eliminates the need to pay a fee to get their paycheck cashed at a check cashing store. Typically after getting their paycheck cashed employees would walk around with their entire paycheck in their pocket but through the use of the paycard this problem is eliminated. Their entire paycheck has been loaded on the card.
Employees can access and manage the money deposited on their card by utilizing the BofA CashPay card web portal online at (https://prepaid.bankofamerica.com/cashpay/home/index). The site allows first time users to activate the paycard online and sign on to their account to view their deposits and transactions. The site is available 24 hours a day for users to login and monitor their funds. It works just like any other online account site that allows users full control over their finances.
To help customers with managing their funds better there are account features such as alerts that will notify users via text or email when their account has reached certain levels. There are setting inside your account that can be used for notifications such as low balance, notifications when a deposit has been made, and more.