Just the Facts

Interesting Facts and Stats

• 80 million consumers today are ‘un-banked’
• Statistically the chances of having a problem with a check are 20 times higher than Direct Deposit.
• Use of a paycard eliminates stigma of using paper benefit instruments.
• Lost check replacement costs are nearly $48 million annually .
• A study by NACHA reveals that you can save $1.28 per check converted to Direct Deposit.
• Nearly 30% of the U.S. population does not have a DDA account.
• The average cost of cashing a paper check is 1.5% to 5% of net pay. Un-banked Americans spend $8 billion annually in check cashing and financial services.
• According to a report released by the Comptroller of the Currency: payroll debit cards cost the employee an average of $72 per year. Compared to $246 for check cashing.

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Paymast'r Services, Inc.
1600 38th Street, Suite 204, Boulder, CO. 80301
Phone: (800) 854-1924 | Fax: (800) 594-0989

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