Wal-Mart , the largest private employer in the U.S., has decided to go paperless when paying employees and is switching
to direct deposit and debit cards. For employees who refuse direct deposit, their pay will be offered in the form of a debit
card.
The
program is rolling out nationally in September, and is expected to be
finalized by the end of 2009. Wal-Mart says the move will save 257,572
pounds of paper per year as well as an unspecified amount of money.
Currently, Wal-Mart has 1.4 million employees, and half of them receive
paper checks.
Wal-Mart isn’t the only organization to go totally paperless; the Social Security Administration also offers employees
payment through plastic.
Transactions
on Wal-Mart’s debit cards will be handled through First Data Corp,
which will offer one free ATM transaction per pay period to users
looking to take money out, and will charge subsequent withdrawals at $2
each. Workers can also withdraw their money from registers at Wal-Mart
for free.
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