Promoting Financial Literacy

The new Payroll Card has many benefits for state employees. It can be a great tool for budgeting personal finances. The card can be used as a specified spending account designated for only certain spending, such as for Holidays or special occasions. The card can be designated for state travel reimbursements. The card can also be used for a cash allowance, or for only paying bills. By not extending credit, the card helps train the user to spend only what is available. When the card is empty, spending is put on hold until another deposit is made. This is a great tool for use in personal budgeting. Details of the card are below...
 

NOW AVAILABLE…Another option for direct deposit!

The Office of the State Auditor would like to introduce the new Payroll Card being offered to all state employees by the State of South Dakota. Employees can have their payroll checks, a portion of their payroll checks, or their employee reimbursements (travel, moving, etc) deposited onto the card. The card works like a MasterCard and can be used wherever MasterCard Debit Cards are offered. The card can be used for point of sale purchases, for automatic bill payments, or at the ATM machine or inside the bank for cash withdrawals, up to the amount stored on the card. The card does not extend credit, and cannot be used for transaction amounts that exceed the amount stored on the card. A brochure outlining all the card’s features and benefits is available at http://www.state.sd.us/bfm/paycard/prc_brochure.pdf

 For more information or to sign up for the card visit http://www.state.sd.us/bfm/paycard/

For more information contact: Judy Flagstad

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