SunTrust Introduces "Next-Generation" Payroll Card

The Skylight Account has significant employer and employee benefits which include the following highlights:

• Because the Skylight Account is funded with a standard direct deposit file, employers can save money - an average $1.90 per employee per pay period - on issuing, delivering, and reconciling paper checks.
• Employers can also improve productivity as employees no longer need time away from work to deposit or cash their paychecks.
• Unlike traditional stored-value card programs, Skylight Financial assumes all account liability, so employers do not take on any employee-related risks such as overdrafts, fraud or lost and stolen cards often associated with payroll card programs.
• The individual employee accounts, which are FDIC-insured, provide an array of transactional services and have no monthly maintenance charge.
• Most significantly, the accounts are owned by the employees, so they can use it to establish a credit history and retain the accounts if they leave the company. They can even receive additional direct deposit funds into the account, including payments from other employers or from the federal government.
• By establishing sub accounts for family members, employees have a cost-effective way to transfer funds instantly, nationally or internationally, without incurring expensive money transfer fees.