The Times West Virginian

Business

August 18, 2013

Direct deposit, West Virginia Pay Card options for state employees

FAIRMONT — As state government moves away from paper paychecks and focuses on direct deposit, another electronic option is being offered.

Misty Price, deputy treasurer of cash management with the West Virginia State Treasurer’s Office, explained that state employees now have two choices for how to receive their paychecks. They can either select direct deposit or a new alternative called the West Virginia Pay Card.

State Treasurer John Perdue and State Auditor Glen Gainer and their offices have been working together for several months to make the West Virginia Pay Card an option for workers. This is a reloadable, prepaid Visa card, and funds are automatically loaded onto the card each pay day, Price said.

She said the employee can go to any ATM within the Visa network to withdraw cash, or visit any Visa bank to take all or part of their paycheck off the card — with no fees applied. The West Virginia Pay Card can also be used to make purchases, just like any other debit card.

Right now, approximately 4,000 state employees receive paper checks. Those individuals will have until Oct. 1 to decided if they want to switch to direct deposit or receive the pay card, Price said. Oct. 31 will be the first time wages are loaded onto the card.

Gainer said 91 percent of all public employees currently receive their paychecks via direct deposit. More than 30 state agencies are close to 100 percent direct deposit.

“We’ve got tremendous participation and agencies that have really worked hard to move their employees to direct deposit,” he said.

A few state agencies don’t have those high percentages, which pulls the state’s overall average down, he said. Gainer believes about 97 or 98 percent of employees will be on direct deposit after Oct. 1, and the rest will use the West Virginia Pay Card.

The state always encourages employees to use direct deposit, which is the safest and soundest way to receive payments, he said. But if they choose not to have a checking account or banking relationship, the pay card will provide security to them.

“We’re doing it as a benefit to our employees,” Gainer said. “This will bring them into the banking environment.”

Plus, finding places that will cash paper paychecks is becoming rare, and employees are often charged check-cashing fees, he said. The pay card takes away those hassles.

Instead of getting a piece of paper to take to the bank to get money, the employee will already have wages on

the card in their wallet. The person can use it as a true banking card throughout the pay cycle and year, instead of having to worry about carrying around a lot of cash.

Part of the reason why Gainer and Perdue are making this move now is because West Virginia is in the middle of implementing a new administrative system across state government called wvOASIS, or Our Advanced Solution with Integrated Systems. Gainer said law also requires that all wages at the state level be paid via direct deposit or pay card.

“The state will save a tremendous amount of money by making the changeover,” Price said.

She said the enhancements from wvOASIS will save the state about $500,000, plus other savings from the cost of paper and printing supplies for checks and employee time.

“From a government perspective, it’s much more efficient,” Gainer said. “We spend a lot of money and a lot of time dealing with lost and stolen checks (and reissuing them). It really is a safer and a more sound way.”

The state is getting out of the check-writing business and moving into the electronic payment age. Now, the only payment that allows for a traditional check is income tax refunds, Gainer said.

“We’re just trying to keep West Virginia moving in the right direction and adopting best business practices and operate as efficiently as we possibly can,” he said.

Price said she’s heard from some people who are excited to have the West Virginia Pay Card, and others who don’t want to change. But individuals seem to be more open to the pay card once they learn about its many options.

The website wvpaycard.com is kept up-to-date with the most recent information about the West Virginia Pay Card and which banks and ATMs people can visit free of charge.

“The more informed they are, the better they feel,” she said.

Email Jessica Borders at jborders@timeswv.com or follow her on Twitter @JBordersTWV.

1
Text Only
Business
  • MM Consulting Services-JB.jpg MM Consulting caters to unique needs

    MM Consulting Services LLC is ready to help clients be successful by catering to their unique needs.
    The “MM” in the name stands for Marianne Moran, who started this Fairmont-based business in January 2013. She offers a wide range of marketing and advertising consulting services.

    April 20, 2014 1 Photo

  • Organization shows Americans how tax dollars are spent

    Last week, the deadline arrived for citizens across the state and country to pay their 2013 income taxes.
    But how exactly are those federal income tax dollars spent by the government?
    Anyone who has ever pondered this question can turn to the National Priorities Project for a detailed answer.

    April 20, 2014

  • Statewide online directory lets you track local goods

    A new online tool is providing a detailed look into West Virginia’s local food system.
    The West Virginia Food Mapper, a statewide interactive mapping application, was officially finalized and launched in February through a partnership among several entities. Those partners include Downstream Strategies, the West Virginia Food and Farm Coalition and its Meat Processing Working Group, and the West Virginia GIS (Geographic Information Systems) Technical Center.

    April 13, 2014

  • Chancelors reopens at new site after devastating fire

    Nothing, not event a devastating fire, can keep Chancelors down.
    At the beginning of March, this family-owned auction business and store opened at its new location beside Premier Body Works, a mile and a half past the Barrackville Covered Bridge.

    April 13, 2014

  • Despite coal decline, West Virginia remains strong in exporting

    Companies throughout West Virginia are bringing new dollars into the economy by exporting.
    The governor’s office recently reported that the state’s exports in 2013 totaled $8.4 billion. This is the third-highest amount of exports that West Virginia has seen in its history.

    April 6, 2014

  • Mannington B&B Wireless offers affordable service

    B&B Wireless is now offering affordable cellphone services to the Mannington area.
    Owner Brad Weaver recently opened this store, which is an nTelos Wireless exclusive retail provider, at 122 Market St. in Mannington. The new business is located beside Hero’s Corner Cafe and shares a building with Fancy Nancy’s Gift Shop.

    April 6, 2014

  • NASA IV&V, TMC play key role in launch of satellite

    A modeling and simulation product developed by the NASA Independent Verification and Validation Facility and TMC Technologies, both in Fairmont, recently played a key role in launching a satellite off the ground.
    Brandon Bailey is the lab manager of the Jon McBride Software Testing and Research (JSTAR) Laboratory at NASA IV&V.

    March 30, 2014

  • Quality of life focus at White Hall Hearing Care

    White Hall Hearing Care encourages people to do their ears a favor and visit an audiologist.
    Owner Barb Litton Cox, a nationally certified state licensed audiologist, opened her office on March 4 at the White Hall Professional Complex, located at 177 Middletown Road.

    March 30, 2014

  • Small Business Resource Summit and Entrepreneurs Café set Tuesday

    Main Street Fairmont is helping small businesses find opportunities to grow.
    The Small Business Resource Summit and Entrepreneurs Café are scheduled for this Tuesday at Veterans Square, located at 320 Adams St. in downtown Fairmont.

    March 23, 2014

  • Microtel Inn & Suites by Wyndham opens doors

    The team of the new Microtel Inn & Suites by Wyndham is glad to be in Fairmont.
    The hotel, located at 20 Southland Drive next to the Middletown Mall, officially opened its doors on Friday, March 21. That afternoon, the management team and staff welcomed members of the public to tour the new facility and enjoy lunch during an open house.

    March 23, 2014

Featured Ads
NDN Business
House Ads