How would you feel if you had to pay a fee to access the money from your paycheck? I know I’d be pretty upset.
That’s what’s happening to employees at various companies. These companies have phased out paper checks or direct deposit and there’s nothing the employees can do about it. They don’t have a choice, but use the prepaid cards their employers are handing out.
According to an article in the New York Times, “one provider, for example, charges $1.75 to make a withdrawal from most A.T.M.’s, $2.95 for a paper statement and $6 to replace a card. Some users even have to pay $7 inactivity fees for not using their cards.”
This is totally outrageous. When people complain about regulations, they don’t realize the reasons behind why we have them. This is a reason. Companies shouldn’t be cutting costs by so much that their employees have to pay fees in order to receive their own money from their paychecks.
Read the article and decide for yourself if I’m correct.