Forget paper paychecks: New Michigan law allows employers to go plastic only
Published: Thursday, January 27, 2011, 6:00 AM Updated: Thursday,January 27, 2011, 10:51 AM The Grand Rapids Press By Shandra Martinez GRAND RAPIDS - Rodney McFall remembers standing in long lines late Friday afternoons to cash his paycheck. These days, electronic banking means those lines are growing shorter at check-cashing outlets. McFall rarely waits longer than a few minutes. "I like getting a check because I can cash it when I want to," said McFall, as he stepped up to a Western Union counter at Duthler's Family Foods grocery store on Bridge Street NW. Those Friday afternoon lines will shrink even further this year with a new state law that lets employers do away with paper paychecks. Employees will have the option of having their wages deposited directly into their accounts or onto plastic pay cards that usually work like debit cards. The savings will be significant for companies, said William Dunn, of the American Payroll Association. Studies show ...