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Business - Top 100 FAQ
Frequently Asked Questions
The ReadyCash® Business FAQ is conveniently organized
into the following topics:
· ReadyCash® Company Queries
· General Product Queries
· Custom Product Development Queries
· Card Program Implementation Queries
· Card Program Operational Queries
· Cardholder Queries
· Pricing And Ordering Queries
· ReadyCash Benefits Program Queries
ReadyCash® Company Queries
1-What is the ReadyCash® corporate structure?
ReadyCash Holdings, LLC was organized as a Utah
Limited Liability Company to consolidate the ownership
of related ReadyCash® operating companies and businesses.
Holdings include significant interests in American International
Investment, Inc.; American International (Bangladesh) Ltd.;
American Worldwide Investment, Inc.; Global Trade Solutions,
Inc.; Global Markets, LLC; ScanCashT; ScanTicketT; and
other non-financial payment concerns including MEDePayT.
2-How long has ReadyCash® been in business?
ReadyCash® has been delivering stored-value card solutions
since 1998.
3-How many companies use ReadyCash® services?
ReadyCash® has enrolled and provides service to over 500
companies worldwide in our payroll and merchant programs.
4-Which financial institutions does ReadyCash® work with?
ReadyCash® has developed primary or secondary card issuing
or sponsor relationships with the following US and foreign financial
institutions: First National Bank of Central Texas, Bank First, Bank
of Utah, Deseret First Credit Union, Janata Bank, Sonali Bank, Agrani
Bank, Mercantile Bank, and First Security Bank. We have depository
relationships with Bank of America and Zions Bank. ReadyCash®
is also happy to work with your financial institution as a team member
in delivering custom payment solutions for your company.
5-How many cardholders does ReadyCash® have?
Over 100,000 cardholders benefit from our services worldwide.
6-Which countries does ReadyCash® serve?
Our professionals have advised government leaders in many countries
on payment systems. Our most expansive national project to date is
in the country of Bangladesh where we developed and maintain
processing, merchant equipment/services and bank interfaces on a
nation-wide basis. Our products and services can be implemented in
almost every country in the world. Currently, our international debit
program is used by cardholders in the following countries:
Argentina
Australia
Austria
Azerbaijan
Bahamas
Bangladesh
Belarus
Belgium
Bermuda
Brazil
Bulgaria
Canada
Cayman Islands
Chile
China
Colombia
Croatia
Cyprus
Czech Republic
Denmark
Dominican Republic
Egypt
England
Faroe Islands
Finland
France
Germany
Ghana
Greece
Guatemala
Haiti
Hong Kong
Iceland
India
Indonesia
Ireland
Israel
Italy
Jamaica
Japan
Jordan
Kenya
Korea
Kuwait
Lithuania
Malaysia
Maldives
Martinique
Mexico
Moldova
Morocco
Nepal
Nigeria
Norway
New Zealand
Pakistan
Papua New Guinea
Peru
Philippines
Poland
Romania
Russia
Scotland
Serbia and Montenegro
Singapore
South Africa
Spain
Sweden
Switzerland
Taiwan
Thailand
The Netherlands
Trinidad
Tunisia
Turkey
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States of America
Uruguay
Venezuela
Vietnam
Yemen
Our card products have the capability to reach
nearly every corner of the world. If your nation
is not listed here, contact us to find out how you can be
the FIRST in your country to enjoy the benefits of ReadyCash!
Due to current US Trade Restrictions, ReadyCash cannot provide products or services in the following countries:
Cuba
Iran
Liberia
Myanmar (Burma)
North Korea
Sudan
Syria
7-What relationship does ReadyCash® have with MasterCard® and Visa®.
ReadyCash® has been approved as a MasterCard® MSP and Visa®
ISO. As such, we make sure that the card program you roll out
complies with the business rules of the major international networks.
We have seen a number of card programs offered by other companies
that have been shut down by networks and banks because of non-
compliance. The experience of ReadyCash® gives you confidence
that your program will be developed and administered professionally.
8-What technology capabilities does ReadyCash® have?
ReadyCash® technologists have designed and developed national
smart card programs and debit projects, including; server/processing
systems, POS applications and interfaces for banks and corporate clients.
Our technology team members have been responsible for some of the
milestone achievements in the card industry. Some of their
accomplishments include a) patents on fundamental smart card
technologies, b) software development on the first gas pump credit
card implementations, and c) project development for US military card
applications.
General Product Queries
9-What Products does ReadyCash® Offer?
ReadyCash® delivers a wide range of payment tools. Our primary
product group consists of stored-value card products including smart
cards, PIN debit, Signature debit, gift and ATM solutions.
Except for overdraft privileges on some of our debit products,
ReadyCash® does not offer credit products.
10-What is the difference between Stored-Value cards, ATM cards,
Debit Cards, etc.?
Although these terms originated from differing product types, in
common usage, they are often used interchangeably. You would be
well advised to not assume that anyone else has exactly the same
understanding of a term as you do.
For example, ATM cards may refer to cards that only work within a
given network of ATMs. That network could consist of 5 ATMs or
500,000 ATMs. As an ATM card, the person may be referring to the
ATM capabilities of a debit card that does much more. You don't know
unless you ask.
Debit cards can refer to ATM cards or Stored-Value cards, but can
usually be categorized as either PIN based cards or Signature based
cards. Signature based cards are more flexible, but often come with
a considerable financial risk to the company.
Stored-Value cards could refer to any of the above cards or Smart
Cards or Gift Cards.
At ReadyCash®, although we may use these terms occasionally, more
often, we refer to a particular product (eg. Maestro®, or MasterCard®
Signature Debit) and define the features of that product.
Before selecting a program for your company, you should discuss the
card types and their relative advantages and disadvantages with an
experienced professional.
11-Does ReadyCash offer Visa® and MasterCard® programs?
Yes. Our relationships with MasterCard®, Visa® and issuing banks
allow us to provide both Visa and MasterCard programs. We can also
provide private networks that operate independently or access the
popular global networks.
12-What is Maestro® and what is the benefit when there is a Maestro
logo on a debit MasterCard?
Maestro is the lead debit brand for MasterCard International and
offers cardholders secure, convenient access to their deposit
accounts from anywhere in the world. Maestro is the only on-line,
PIN based global debit brand that can be used to make purchases
and to provide access to cash at ATMs. The Maestro brand mark
now appears on over 511.1 million cards worldwide.
13-What is the difference between a PIN-based transaction versus
a signature-based transaction?
Signature-based transactions go through a dual messaging system.
It takes two days for the transaction to be posted on an account.
Cardholders can sign for a transaction at almost 24 million merchant
acceptance locations. PIN-based transactions go through a single
messaging system. It takes one day for the transaction to be posted
on an account. Merchant acceptance of a PIN-based transaction is
rapidly expanding.
14-Can debit cards be used for on-line shopping?
Signature based debit cards can easily be used for on-line shopping.
PIN based cards have traditionally not been accepted on-line. On-line
usage of PIN based cards is possible, however, under the following
circumstances:
a) MasterCard® is actively promoting their SecureCode®
tool which will allow use of Maestro® products online. MasterCard®
has a goal of system-wide implementation of this program throughout
their on-line merchant base by June of 2005.
b) Companies who use ReadyCash® cards as a payroll
device can also use the cards as a form of payment for either on-line
or telephone based sales. The use of ReadyCash® cards for these
purchases ensures that the customer will not 'chargeback' the transaction.
15-What is MasterCard® SecureCode®?
SecureCode® is an online tool developed by MasterCard® primarily
to protect merchants from cardholder chargebacks. SecureCode®
also provides issuers with a new way of supporting Maestro® debit
transactions over the Internet, and opens the door to more cross-border
transactions with merchants in countries where debit is more established
than credit.
16-How secure is a debit card?
Although any card product has the potential for fraudulent abuse,
stored-value products fall in three basic categories relative to risk:
Smart Cards are the most secure stored value product available.
An encrypted chip on the card interacts with a specialized reader
using secret keys. Transactions are typically authorized by PIN or
biometrics.
PIN based debit products are the most secure of the magnetic stripe
based card products. PIN authorized transactions with fund transfers
in real time assure that the cardholder has authorized the transaction
and further, that the cardholder cannot access more funds than
authorized.
Signature based debit products are the least secure of the stored value
products. Although signature based cards allow cardholders considerable
flexibility, there are significant inherent risks. Due to floor limits employed
by merchants and delays in processing, it is possible for a cardholder to
spend more funds than have been authorized. Card usage of stolen
cards is also a risk unless loss or theft is immediately reported by the
cardholder.
17-Do you offer Virtual Credit Cards for on-line shopping?
ReadyCash® has a reseller agreement that allows us to market
Virtual Credit Cards to our cardholders. Quantity discounts can
be arranged.
18-What liability does our company incur in offering a card program?
Our payroll clients do not incur a financial risk with PIN based
products. Signature based products, however, carry a risk of card
misuse. Unless a financial institution assumes this risk, the company
providing signature-based cards is typically required to maintain a
deposit to cover program losses.
Custom Product Development Queries
19-Does ReadyCash® offer custom programs?
The ReadyCash advantage is our ability to craft specialized programs
and deliver exceptional service to our clients. Custom programs are
highly flexible. We can modify our generic program to some extent,
or we can develop a private program exclusively for our clients. Custom
programs typically leverage either the Visa® or MasterCard® platforms
and networks, but may also include our 'smart card' systems.
20-Can our company have a card with its own logo and design?
Our clients have considerable leeway in selecting the graphic image
on custom cards. ReadyCash® has an excellent track record of gaining
approvals for custom branding and programs from both VISA® and
MasterCard® and guiding our clients through the design, financial and
program review process.
21-Can our company change the fee structure of the card program?
Yes. Although there are some fixed costs associated with Networks,
banks and processors, there is some latitude with respect to pricing
in a custom program. We can work together to design a pricing
program that fits the needs of your organization.
22-Can any bank issue cards for our company with ReadyCash®?
ReadyCash® can work with any financial institution in designing and
building your custom program.
23-Can you develop a custom program in another country?
Yes. Many companies produce, ship and invoice in a foreign country.
Where there is sufficient volume, risk may be reduced by setting up an
in-country card program with a local bank. ReadyCash® has experience
in developing these programs and implementing them successfully.
24-What is the cost of developing a custom program?
The answer clearly depends on the extent of the custom program. As a
typical implementation can cost us $10,000, we do not recommend the
custom branding for smaller companies. For larger companies, we will
often absorb the cost with a significant volume order commitment.
Card Program Implementation Queries
(Unless otherwise noted, answers to implementation queries
primarily refer to our standard product. Custom product
implementations may differ.)
25-How does our company sign up?
By completing our Business Enrollment form found at
www.readycash.com/bsign.htm your company is well on it's way
to providing a card payment solution to its payees. Once your
company has enrolled, we will provide you with training materials,
discuss your needs and present a pricing addendum.
26-How long does it take to get "up and running" with ReadyCash?
Within a few business days from enrollment, you should receive
your trial card and your company will have received sufficient training
materials to begin ordering and funding cards. (If there is a need we
can work with you to begin providing card fulfillment to your payees
the day after enrollment). Most companies can be completely "up and
running" within a week from enrollment.
27-How long does it take to convert from checks or direct deposit
to a card program?
A company can move from checks or direct deposit to a card
program within a single pay cycle. Cards can be ordered and
shipped 'next day' in most cases. Upon receipt of the cards by
the cardholders, we can begin funding the cards.
28-Do we have to use ReadyCash exclusively?
No. We will earn your business. Many companies try us out with
a few hundred cards to get started. From there, we can earn your
confidence and work together to provide appropriate solutions for
all of your payees.
29-How do we inform / solicit our payees?
International payees receiving checks from a foreign bank have
to pay $20 or more to cash their checks every month. Nearly all
of them are anxious to participate in a card program.
Domestic payees like the convenience and benefits program, not
to mention free POS transactions.
To introduce all of your payees to the ReadyCash® card program,
we will provide you with an effective introductory campaign:
If your company is purchasing the card inventory outright and
implementing the card promotion program independently, we will
help you design materials that will advise your payees of the change
and communicate the benefits.
If you would like ReadyCash to promote the program for you, we
recommend the ReadyCash® "opt-in" / "opt-out" introduction system:
During an initial 30-day period we help you design and implement
4 emails or direct mail presentations. During the second week of the
program, we join you for a one-hour conference call with your payees
where we describe the benefits of the program.
During the initial 30-day period we provide promotions designed to
motivate your payees.
After 45 days, we recommend an "opt-out" program, where all
current payees will be automatically enrolled in the ReadyCash®
card program, unless they opt-out. We will provide compelling email/
direct mail messages, and offer a 30-day money back guarantee to
payees who intended to opt-out, but mistakenly did not.
30-Can we utilize an "opt-in" program only?
Yes. You know your payees, and we will work with you to design a
program that is effective and works best to the benefit of your
organization.
31-What training do you offer for client companies?
Corporate training includes:
- Training documentation describing the various aspects of the
ReadyCash® card program, together with best practices
materials and promotional collateral.
- Access to our Business Support FTP site where additional
informational materials are available to our clients.
- Telephone training of corporate staff
- Email support for corporate staff
- Telephone support for corporate staff
- Fee based consulting to resolve non-standard payment challenges
32-Would you participate in a training / sales call with our payees?
Yes. A training sales call with company payees can be a very
effective method to rally support for the program and provide
answers to payee questions regarding the implementation of the
program.
33-What information about our payees do we need to provide?
Current best practices in the industry (including compliance
with government and regulatory agencies) require that we know
the name, address, government ID#, and preferably a telephone
number. While we would prefer to have an email address on file
for better customer service, it is not necessary.
34-What are your privacy policies?
We will use your corporate data and payee data for ReadyCash®
card purposes only and will maintain it as Confidential data as
described in the Card Services Agreement. We will not sell or
distribute the data to third parties.
35-Who do we contact for support?
You will have full access to ReadyCash® management for
support issues. Your primary contact will be your Sales Affiliate,
unless you have specific issues that can be better addressed by
one of our relevant staff members.
Card Program Operational Queries
(Unless otherwise noted, answers to operational queries primarily
refer to our standard product. Custom product operations may differ.)
36-Does our company need any special software to participate?
No.
37-What is the cost to our company for technical / software development?
No technical or software development should be necessary. If you
would like us to provide technical services for non-standard features,
we would be happy to evaluate your needs and quote a price.
38-Will we have any downtime during the integration /
implementation period?
Implementing the ReadyCash® card program can be done easily
and seamlessly. No downtime of payment operations is necessary.
39-Can the card program be implemented in conjunction with our
current check-based payroll or direct deposit program?
The ReadyCash® card program can operate in tandem with
existing check-based payroll or direct deposit programs. Although
we believe that card programs can be more cost-effective and
efficient than other methods, a company may utilize the card program
to provide service to a limited segment of its employees or distributors
without interfering with existing programs.
40-How does the payroll / commissions reconciliation process work?
Unlike check-based payroll, no reconciliation is necessary, as the
funds are transferred and maintained in the card settlement account
until expended by the cardholder. Likewise, there are no lost or stolen
checks, or cost involved with the re-issuance of checks.
41-How long does it take from the time a card is ordered until it is sent?
We typically ship cards the day they are ordered, if the order is
received before 12:00 pacific time. Orders received after 12:00
Pacific Time are typically shipped the next day.
42-Will ReadyCash ship cards to our payees?
Companies often request that we deliver cards to their corporate
headquarters for distribution. ReadyCash® however, is happy to ship
direct to the cardholder. Mailing costs are as follows for standard
USPS First Class / Air Mail packaging:
Domestic (USA) $1.00 per card
International $2.00 per card
Mailing rates may be deducted from the card balance.
43-Do you emboss the cardholder's name on the card?
Yes. Upon receipt of the card order, we can personalize cards prior
to distribution.
44-Is the PIN sent with the card or separately?
The PIN is included with the card fulfillment materials. We recommend
that the card be delivered to the cardholder prior to initial funding.
In a custom card program, the PIN can be sent at whatever level of
security, and in whatever way the client requires. If special handling
and security measures significantly impact the cost of providing services,
there may be corresponding increases in the cost of those services.
45-How is the card activated?
For the convenience of the cardholder, the card is active when
delivered. No action is required by the cardholder to activate the card.
46-What is the enrollment process for cardholders?
Individual cardholders may enroll online at www.readycash.com.
Batch enrollments may be done through an FTP upload or by email
of a fixed field data file or an excel spreadsheet. ReadyCash® has
a sample file that can be used as a template for this process.
47-How does the funding process work?
The steps involved in the funding process are as follows:
· Funding file is transmitted to ReadyCash®
· ReadyCash® is notified that funding file has been sent
· File is funded (either through wire or ACH transfer)
· File is formatted and reviewed by ReadyCash®
· File is processed for funding
· Cards are funded
48-In what format do we send the card loading information?
Files are actually processed in a text based, fixed field format;
however, many of our clients submit Excel spreadsheets, that we
review and format.
49-How would the funds be loaded: wire transfer? ACH?
Either option is available. Funds may be wired directly to the funding
account. Or ReadyCash can be authorized to ACH the funds from the
company account to the card operations account.
50-How long does it take to load funds on cards?
File processing normally occurs at 2:00pm Mountain Time. If we
receive the file, with funds available in the account with time to
format and review, funding can be completed in the same day.
51-Is there a minimum card load?
There is no minimum card load requirement.
52-How many times each month can we load cards?
We can process funding files on any business day that is not a
bank holiday. There is no restriction on the number of funding
files per month.
53-In what currency do we deposit funds?
Funds are loaded to the cards in US$. If funds will consistently be
transferred from another currency, please let us know, so that we
can arrange preferential currency exchange services.
54-In what currency do cardholders receive funds?
Since distributors access their funds through ATM machines in the
countries where they are located, they receive the money according
to the rules of the ATM provider where they access the money.
It should be noted that funds converted through the MasterCard®
network are typically exchanged at a more advantageous conversion
rate than can be obtained anywhere else, including bank exchange services.
55-Will we lose the 'float' we enjoyed when we used checks?
Our standard card product operates in the same way that a direct
deposit program functions from a cash flow perspective. Funds are
transferred to the payee's account and therefore no further reconciliation
is necessary.
In a custom program, with sufficient volume and bank approval, the
company may enjoy interest benefits on funds transferred to cards,
but not yet spent by the payee.
In seven years of on-stream operation, a significant percentage of all
funds loaded to active ReadyCash® cards have remained as deposits
in the account - dramatically increasing total float. This is because
cardholders often maintain funds on deposit in their card account for
savings.
56-Can ReadyCash® Cards be used by distributors to
purchase product from my company?
Yes. The ReadyCash® system can be also be used to transfer
funds from the cardholder to the company. When this mechanism
is used for purchases, it not only reduces the merchant fee expense,
but eliminates the risk of 'chargebacks.'
57-What if our payees move or drop out of the program for a time?
Cardholders can move or travel anywhere in the world and still
receive their payments safely and efficiently. Sporadic payments
do not cause a problem for the ReadyCash® card program.
58-Can we use the cards to pay all of our employees?
While some organizations, view the ReadyCash® payment program
only as a tool to compensate international sales operations; ReadyCash®
cards can be used to pay all company employees both domestic and
international.
59-Can we use the cards like an expense account?
Some companies are beginning to appreciate the flexible nature
of the ReadyCash® card program. Cards can easily be deployed
as a corporate expense payment and cash management system.
60-Do we have to send printed statements to our payees?
Because cardholders have real-time online access to their balances
and transaction histories, it is unnecessary to provide printed
statements on a regular basis.
61-How often do the cards expire/need renewing?
Most cards expire two years after issuance. Due to program life,
the expiration date may be less than two years from the time the
cardholder receives the card.
Custom card programs can have either single or multiple year
expiration periods.
62-When a card expires, are they renewed automatically?
If a balance remains on the card, the account will be automatically
renewed and a new card will be sent to the cardholder.
63-Can a cardholder withdraw more than their balance on the card?
Using the Maestro® product, the cardholder is limited to the funds
available on the card account (unless overdraft privileges have
been granted).
With signature based debit products, it is possible both inadvertently
and fraudulently to withdraw more than is available in the card account.
64-What facilities are offered for people making $tens of thousands
of dollars each month?
Some individuals make more money in a month than is
comfortable to withdraw from an ATM. We recommend a hybrid
solution where some funds are sent by wire/ach/check and the
remaining (perhaps $2,000 monthly) is loaded to a card.
If individuals want all of the funds loaded to the card, and then
decide to request a check or wire, we can accommodate.
65-What happens if our card program is terminated by a bank of processor?
The Debit Card industry is constantly changing and in many
ways is very immature in its development. In the 7 years that
we have been providing card solutions to the world, we have seen
banks close their card operations, and processors go out of business.
We have seen equipment providers acquired. We have seen
government regulations imposed. And, we have seen Visa and
MasterCard change their operating rules. If your business needs
to rely on its payroll, then you need to rely on a company that is
more than a single bank, or a single processor, or a single product.
ReadyCash® maintains multiple bank relationships, multiple processor
relationships and can guide you safely as we deliver a stable and
reliable payment card program.
Cardholder Queries
(Unless otherwise noted, answers to cardholder queries primarily refer
to our standard product. Custom product cardholder operations and
interfaces may differ.)
66-Where can the ReadyCash® Maestro® card be used?
Our Maestro® products are accepted for purchases at close to
9.6 million merchant terminals in 93 countries and territories and
over 900,000 MasterCard/Maestro/Cirrus ATMs worldwide.
67-How soon will I receive my money?
Once we have received funds and a funding file from your company,
money is usually available on your card within 24 hours.
68-How can I check my balance and transaction history?
Card balance and transaction information is easily accessible at
www.readycash.com.
69-Do I need a user ID or password to view my account details on-line?
You will need your card number and a passcode to view your
account details. The passcode is sent to you with the card
fulfillment materials.
70-Is there a cost for on-line access?
On-line access to card balance and transaction data is free of
charge for ReadyCash® cardholders.
71-Can I get a printout of my purchases?
It is easy to print the on-line transaction data. You can also
save the file or 'cut and paste' it to an excel or word document
for easy reference.
72-Do I have to withdraw funds from my card account within any
particular time frame?
No. You can keep your funds safe on your card as long as you
have an active account.
73-Are there limits to how much can be withdrawn from the card?
Under our standard program, there are two applicable limits
· $1,500.00 during any one business day
· $5,000.00 in any 10 day period
These limits may be adjusted on a custom program.
74-Are there card-to-card transfer capabilities?
On-line card-to-card transfer is available with our standard
product. Corporate requests for card-to-card transfers can also
be accommodated through funding files.
75-Can I get my money via check or wire?
Yes. If you would like to have funds removed from your card and
sent to you via check or wire, that request can be accommodated.
76-How do I order a check or wire transfer?
A check or wire transfer can be ordered at the ReadyCash®
website at www.readycash.com (*additional fees apply)
77-Can I load funds onto the card?
In addition to company direct deposit, there are several
methods for adding funds to your card, including:
· Mail-in check or money order
· Transfer from PayPal account
· Electronic Check / ACH
· Financial Institution Wire
· Bank Deposit
You may visit www.readycash.com/fund.htm for additional
information.
78-If I take my money out in a currency other than US$,
what exchange rate do I pay?
When funds are withdrawn from an ATM or a purchase is
transacted at a Point of Sale Terminal, ReadyCash® uses
Visa® and MasterCard® network exchange rates, typically
much more favorable than rates offered by local banks.
79-Can I order more cards?
Yes. If you would like cards for family members, you can
enroll new cardholders at our web site, www.readycash.com.
On-line transfers from one card to another can also be ordered
at our site.
80-Is there a telephone number for customer service?
General ReadyCash customer service is available at
888-274-5717. Specific card customer service is accessible
at the number shown on the reverse of your card.
81-Is on-line customer service available?
Yes. For online customer service, you may use our
"contact us" form at www.readycash.com, or send an email
to support@readycash.com. If you have a question regarding
the timing or amount of your payroll / commissions payment,
please contact your company first.
82-In which languages is customer service available?
We have customer service specialists with fluency in English
and Spanish. Translation software is available at our site for
many languages.
83-What happens if I lose my card?
If you lose your card, you should immediately call
1-888-851-7345.
84-What happens if my card is stolen?
If you believe your card is stolen, you should immediately call
1-888-851-7345.
85-Who is liable for purchases on stolen cards?
It is your responsibility not to share your PIN with anyone.
If you do share your PIN, you may be liable for all losses if your
card is stolen.
Regarding lost / stolen cards, the terms and conditions of our
standard card agreement reads as follows:
"If you believe that your card has been stolen, or that someone
has transferred or may transfer money from your card account
without your permission, call us toll free at 1-888-851-7345. If
you notify us within two (2) business days, you can lose no more
than $0 if someone used your card without your permission. If you
do not notify us within two (2) business days after you learn of the
loss or theft of your card and we can prove that we could have
stopped someone from using your card and we can prove that we
could have stopped someone from using your card without your
permission if you had promptly notified us, you could lose as much
as $50. Also, if your statement shows transactions that you did not
make, tell us at once. If you do not tell us within 60 days after the
statement was made available to you, you may not get back any
money you lost after the 60 days if we can prove that we could have
stopped someone from taking the money if you had told us in time
and you are grossly negligent or fraudulent in the handling of your
Card. If your Card has been lost or stolen, we will close your Card
Account to keep losses down."
Pricing And Ordering Queries
(Unless otherwise noted, answers to pricing and ordering queries
primarily refer to our standard product. Custom pricing and
ordering may differ.)
86-Does ReadyCash® have a set up fee?
ReadyCash® does not have a set up fee for its standard card
program.
87-Does ReadyCash® have a minimum order?
There is no minimum order for ReadyCash® standard cards.
88-Can ReadyCash® handle a very large order?
There are no maximum limits for card orders. Historically,
we have consistently been able to maintain sufficient inventories
for all card orders. If you anticipate making a very large order,
we would ask that you give us some advance notice so that we
can notify our inventory and fulfillment professionals.
89-Does ReadyCash® charge batch loading fees or per item
fees for commission payments?
ReadyCash does NOT charge loading fees for corporate loading.
We do not have either batch loading fees or per item fees for
payroll or commission payments.
90-Do you charge merchant fees for customer purchases through the card?
If a cardholder wishes to make payments for purchases from
your company via the ReadyCash® card, we charge a nominal
convenience fee of 1%. This fee is charged to the cardholder,
only to offset the expenses associated with administering the
payment program.
Payments made through the ReadyCash® card are not subject
to 'chargeback' risk and once verified, funds are guaranteed.
91-What fees are charged to the company?
The ReadyCash® debit card program is structured to eliminate
all corporate fees and charges.
Although some companies elect to purchase card inventories,
our system is designed such that cards can be issued direct to
payees at no expense to the company.
92-Do we have to pay to wire funds?
Although some companies elect to pay for wires to fund card
files, ReadyCash® offers a free electronic check / ACH service
that eliminates ALL costs associated with card loading.
93-What fees are charged to the cardholder?
A reasonable enrollment fee, and extremely competitive transaction
rates are available to our cardholders. Domestic POS transactions,
for example, are FREE.
In addition, ReadyCash® has a continuing program to improved
these rates. Please consult one of our experienced Sales Affiliates
to discuss current pricing.
94-Is there a cost for embossing the cardholder's name?
ReadyCash® can deliver cards with the cardholder's name
embossed. This service is offered free of charge.
95-Do you offer quantity discounts?
ReadyCash has a schedule for discounts on enrollment fees
for quantity purchases. Please consult one of our knowledgeable
Sales Affiliates to discuss how we can make the ReadyCash®
program even more affordable for your payees.
96-Aren't checks cheaper than cards?
Because many of the costs of sending checks are obscured
by other overhead expenses, many companies do not recognize
the very high cost of using checks as a payment method. Most
companies will realize a savings of between $2.50 and $7.50 per
individual payment when converting from a check-based payment
system to the ReadyCash® debit program.
Perhaps equally important, checks can be tremendously expensive
to payees. Domestic payees can pay as much as 10% to check
cashing services. International payees pay significantly more on
average to convert their company checks. The typical international
payee can expect to spend $20 to $40 to cash a foreign check
(sometimes more).
These costs do not include the expenses involved in traveling to
and from the bank to deposit checks or the time delays of mailing,
bank holds, etc..
97-Isn't ACH / Direct Deposit cheaper than cards?
Although ACH / Direct Deposit can be considerably more cost
effective than check-based programs, there remain corporate
costs that can be eliminated with a ReadyCash®. Most direct
deposit programs have a per-item fee of between $0.60 and
$1.00. That can be significant in a large organization.
ReadyCash® does not have any 'load fee.'
Also, the ReadyCash® member benefits program is a
valuable addition to your corporate benefits package and
will encourage loyalty and retention.
98-My personal debit card from my bank checking account
doesn't have fees, why do your payroll debit cards have fees?
While this is similar to comparing apples and oranges, simply
put, all financial services have costs. Although your checking
account debit card may not appear to have fees - your bank
certainly has a revenue model. We find that many banks have
a significantly more expensive package. Every bank structures
its revenue streams in a different way, but here are some
examples; a) monthly account fee, b) cost per check, c) cost per
deposit, d) NSF charges, e) cost to purchase checks, f) interest
charges, g) overdraft charges, h) minimum deposits, etc. You
may also want to carefully read the Terms and Conditions of
your Check Card. Using it outside of your bank's ATM network
will often have significant charges, and this is particularly important
when you are considering payments to individuals throughout the
US and the world. When you add up all of the costs and compare
the benefits, we believe that you will find ReadyCash® to be a
superior value.
ReadyCash Benefits Program Queries
99-Are overdraft privileges available on ReadyCash® cards?
Yes. Subject to approval based on cardholder usage
(not credit scores), overdraft privileges are available on
our standard product. No company risk is involved with
this feature.
100-Does ReadyCash® offer any other cardholder benefits?
We have been aggressively expanding our cardholder
benefits program. Currently through our program, cardholders
have the opportunity to save thousands of dollars a year on
valuable products and services.
Our benefits program is rapidly expanding, however, we
currently offer the following privileges:
- Free healthcare benefits for 30 days.
- Healthcare savings up to 60%. Our program offers discounts
of up to 60% on healthcare services and products at over
500,000 providers. This unique, comprehensive plan has no
annual fees and no waiting periods.
- Free DVD rentals for 30 days. No late fees. No shipping costs.
- Weekly savings on groceries.
- Movie tickets discounted up to 40%
- Free software.
- Air miles for card usage. Our air miles program can be used
on most major airlines with no blackout dates.
- Restaurant savings of up to 50%.
- Free vacations and discounts on airfare, car rentals, hotels
and cruises.
- 50% off printable coupons on many great products.
- Domestic and International long distance calling cards with
rates as low as 1.4 cents a minute.
- Unlimited long distance calling plans.
- Discounts on RV rentals
- Savings on online purchases from major retailers including FTD
and the Sharper Image.
- Prepaid Legal plans
- Wholesale rates on corporate jet charters.
*Some of the products / services offered to our cardholders
require additional fees.
If any of your questions were not fully answered in this document,
feel free to "contact us" at www.readycash.com.
Contact us
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