TUPELO, Miss., March 5, 2013 /PRNewswire/ -- BancorpSouth, Inc. (NYSE: BXS), today announced the launch of the BancorpSouth Payroll Card, through its Treasury Management division, designed to be an alternative to traditional check printing for businesses. By going through a Treasury Management representative, employers can set up payroll cards to have a safe, convenient way to electronically pay all employees without having the risk of paper checks.
Michael Lindsey, BancorpSouth Senior Vice President, Retail Banking, said, "For businesses, the payroll card streamlines the payroll process while reducing processing and check fees. For employees, the payroll card enables them to have immediate access to their funds without waiting in lines or paying check cashing fees."
For employers who prefer paying employees electronically, the payroll card is an efficient option that enables all employees, including those not eligible or without checking accounts, to be paid in that manner. The cards may then be used at ATMs and at stores in the same manner as a debit card. Customers can also move funds from the card to their bank accounts.
For more information on setting up the payroll cards, employers should contact their local BancorpSouth Treasury Management representative. Both employers and employees can find information about the payroll card by visiting www.bancorpsouth.com/payrollcard.
BancorpSouth, Inc. is a financial holding company headquartered in Tupelo, Mississippi, with $13.4 billion in assets. BancorpSouth Bank, a wholly-owned subsidiary of BancorpSouth, Inc., operates 292 commercial banking, mortgage, insurance, trust and broker/dealer locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois.
SOURCE BancorpSouth, Inc.