I can just imagine the enormous effort and risk involved in paying salaries and wages in cash. Cash payments are not only a risk for the Employer, but also for the Employee. Statistics indicate that violent cash robberies are on the rise at the moment.
Money247 can open accounts for your Employees regardless if the Employee has a South African ID or not. All that we require is a valid passport or an asylum document to open the accounts for your Employees. The Employer can then pay his or her Employees with a click of a button and the money is available instantly…no more cash and no more risk!
We also issue each Employer and Employee with a Money247 Prepaid Card which can be used anywhere in the world.
If you are looking for a solution to pay salaries and wages electronically then Money247 has the solution for you!
We will come to YOU and assist you with the whole process to open accounts and to administer your payroll.
Are you paying your employees with Cash?
Are you an Employer who is still paying your Employees in cash? Money247 has the perfect solution to assist Employers to pay salaries/wages to Employees that do not have a bank account?
WE WILL COME TO YOU and open accounts for your Employees, issue them with a Prepaid Card on the spot and assist you to administer your payroll FREE OF CHARGE! Contact Money247 today!
Benefits for Your Businesses:
• Easy Staff Onboarding
• Cost Effective Payroll administration
• No Cash payments to staff or Petty Cash / Logistics / Petrol, etc
• Supplier Cash Management
• Eliminating Cash in Transits
• Increase productivity
• Ideal for labour intensive business types by implementing a Payroll Card
Benefits for Employees:
• Easy Payment from Employer
• Money available immediately
• Prevention of becoming a victim of robbery on public transportation
• Money Transfers to family
• Money Transfers to Landlords, etc.
• Complete Banking facility via our Mobile Application – Eliminating queuing at Banks
• Basket of FREE rewards for example:
– FREE Funeral Benefit
– FREE ER24 Benefit
– FREE Medical and Trauma Assistance Benefit
See a complete list on our Rewards Page
Payroll Management System
Staff retention and productivity remains one of the critical success factors of any labor intensive business. Our Payroll System facilitates an easy distribution of a Prepaid Card to employees without any delays and reasons for leaving the worksite.
Our Prepaid Card Solution does not allow for any debit orders which means the continuous absenteeism due to changing of bank accounts are eliminated. It is common knowledge that a large number of bank accounts are closed due to large amounts owed by the card holders in respect of debit returned penalties.
The card holder automatically qualifies for a basket of rewards including a funeral and repatriation benefit which can be offered as an employee benefit by business owners.
Our Prepaid Card Solution has less than 10% nutrition which is an indication that the card holds invaluable benefits to both business and card holders.
Benefits for End User/Account Owner:
• Easy Onboarding – Only ID, Passport or Asylum required
• Receive Card Immediately
• Transact immediately
• Limit cash available on your Card via our Card Load Function
• Send Money home
• EFT In / Out
• Free transactions Money247 to Money247 Accounts
• No Debit Orders
• Cash In & Out
• ATM Withdrawals
• Deposits at Retailers
• Withdrawals at Spaza Shops
• No cash – Eliminate risks associated with public transport (theft / robbery, etc)
• Complete Mobile Transacting capability
• Safe and Secure
• Up to 3 additional Cards can be linked to the Money247 Account