Bye-Bye, Paycheck

Companies are steadily replacing paper checks with bank payroll cards

Mounting banking fees became such an annoyance to Andral Parrish that when her company, U-Haul International, offered a paperless alternative to direct deposit she signed up to receive a payroll card. Now the debit-style card with the Visa logo and a Bank of America imprint gets loaded with her salary twice a month. No bank account required.

Payday is moving from paper to plastic. Payroll cards, the latest iteration of stored-value cards--like the gift cards you can buy from retailers and give at Christmas--are sweeping into payroll departments at some of the nation's largest companies. McDonald's, Lowe's, Blockbuster, FedEx and...

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