Some Traditions are Changing...Finally!

In an industry where tradition is as sacred as the soil that gives life to the vine, the winemakers have adapted modern technology as the new Optical Eye Sorting Grapes with one goal in mind-- to bring more quality wine to more people around the world, each harvest. 

Juxtaposed to this acceptance of new technologies in the processing of wine, we still lack the sophistication in payroll in the thousands of checks we process to pay our workers.  We are still issuing paper check as we have the last half-century.  This outdated method of payment remains time consuming, costly, and pushes HR overtime, courier costs, stop payment costs, and the list goes on and on.  If you add the cost and frustration of tracking migrant workers whose last paycheck is often lost in limbo, ends up costing employers tens of thousands of dollars each year.

If you’re interested in saving thousands of dollars the following two scenarios will interest you.  First the employer; second the worker.  If ADAMS Vineyards employs 205 full time workers, who are paid weekly, the annual costs to issue those checks is $34,965.  If ADAM Vineyards employs 1,000 harvest migrant workers over 12 weeks, the cost to issue these checks is $39,360.

 Now look at JONES Vineyards, who uses electronic deposit with our iGlobal MasterCard.

Same number of employees and pay period, the annual cost to use direct deposit to the 205 workers is $19,147.  If JONES Vineyards employs 1,000 harvest migrant workers over 12 weeks, the costs to transmit payroll to the iGlobal MasterCard is $17,806.   The total annual savings to JONES is $36,953 for 205 workers.  It’s not rocket science—do the math.

The calculations were determined on averages provided by the American Payroll Association, and your numbers may vary, but the moral of the story remains—Direct Deposit makes a difference.

In this modern day advocacy to protect the rights of farm workers with such great organizations as AgSafe and the continuing education of such organizations as the California Farm Labor Contractor Association, building stronger relationships between employer and worker is imperative to the bottom line.

Let’s now examine the savings for the worker.  Each Friday, 5pm, there is an exodus from the fields to the nearest town to cash their payroll check before 6pm.  The worker must stand in line; pay a check-cashing fee—even at the bank that issued the check on behalf of his or her employer.  The charge is 5.00.  If they choose a local merchant, the charge is most often 1%-3% of the face value of the check.  Now, the worker must now stand in line at the local merchant that serves as an agent for Western Union in order to wire funds to family before 7-8pm on Friday night.  If he misses the cutoff time, it is likely his family will not see money until sometime the following Monday.  The charge for wire, approximately 11% of the total amount sent.  If the worker sends $300, the fee is $33.  At the receiving end, the agent will tack on another 1%-3% collection fee.  This was often hidden under the disguise of “exchange rate” but Western Union must now disclose the fee on the receiving end.

If the worker has the iGlobal MasterCard note the following:

 1. The cash funds are on his iGlobal MasterCard by noon on payday.

2. There is no check to cash

3. There is no need to wire since the iGlobal Card allows card-to-card cash transfersfor a flat rate of $5.00 whether they send $20 or $2,000 the rate is $5.00

4. All transactions are in real-time, 24/7

5. The iGlobal MasterCard saves workers approximately 60%+ in monthly costs

6.The iGlobal MasterCard allows ATM withdrawals worldwide, Merchant purchases, Online purchases, phone-catalog purchases, and works identical to any bank issued debit card

7. The iGlobal MasterCard is FDIC insured up to $250,000 per account/card

8. The iGlobal MasterCard does not require a social security number but any government issued Identification to protect the funds of the cardholder

9. The iGlobal MasterCard allows up to a  $10,000 balance on each card

10. The iGlobal MasterCard is the only payroll debit card that has 24/7 bilingual operators to assist cardholders and the iGlobal staff works with the HR team for an easy set up, and iGlobal offers free seminars for foreman and workers in Spanish

The iGlobal MasterCard is NOT a payroll program.  The worker submits his iGlobal Card to HR as his “bank” account for direct deposit.  We provide you with the Direct Deposit form that includes routing number and card number and the rest is a simple transfer.  If the employer already offers Direct Deposit, they merely use their bank’s ACH system.  If Direct Deposit is not set up, the employer bank wires payroll for $25.   Funds move to First California Bank with processing by Tyburn Group, and all funds appear on the workers cards by noon on payday.  We require the funds are transferred 48 hours in advance.

In summary, the employer saves thousands for the company, the card works with any payroll program or software, there is 24/7 bilingual customer service, the workers save thousands annually in check cashing and wire fees, and protects their money eliminating the need to carry large amounts of cash.

Using Direct Deposit is not just common sense but another step in building a stronger relationship with Latino workers showing you care about their lives off the field.  The technology is there for a more profitable harvest.  It’s time we extend it to payroll.  It’s a Win-Win situation for all sides…(WIN no pun intended).

Let’s talk….let us show you specific numbers for your annual payroll.

Robert Acosta

Founder

iGlobal MasterCard

Robert Acosta

Founder, iGlobal MasterCard

What was the original motivation that brought the iGlobal Card to life?

Simply, it was watching vineyard laborers being exploited with the high costs of money transfer and check cashing fees.  In addition, we wanted to create a foundation that basic financial services were important for these workers who choose not to have traditional bank accounts.  We wanted to show that employers who provided the cards free of charge, truly cares about them off hours by protecting their income.

Why the Central and Northern Valleys?

The demographics.  The Central Valley remains number one in produce.  The agricultural business owners are dependent on Latino workers, so it was a natural launch pad for the iGlobal MasterCard. The Sonoma and Napa Valleys are the heartbeat of the wine industry.  If you in this business then you know that over 90% of wines produced today are touched by Hispanic hands.  This is an ideal starting point, from here it moves rapidly to Los Angeles and throughout California, then Texas, Illinois, New York, Florida and other key demographic areas.

Why did WIN seem a perfect marketing portal?

They are the wine industry.  Far beyond the fields but the warehouses, loading docks, trucking, and all the services that are provided to deliver grapes from the field to our dinner tables.  We’re much more than just another debit card but one that has spent an enormous amount of time researching, beta testing, and delivering an ideal product that not only serves the workers, but can save the employers thousands of dollars in payroll expenses.

You decided to bring in major brands to partner in messaging, why?

My past experience working with the Fortune 500 was that this Hispanic demographic was imperative in their branding strategy let alone growth.  Despite the decline in Hispanic births it still outnumbers non-Hispanic births 3 to 1.  The average non-Hispanic worker in the U.S. is 40 years old and the average Latino is 26.  Simple formula—it equates to expendable cash.  By creating a gateway to responsible brands that our Latino workers use daily, we can offer rewards and loyalty programs that will save them economically.

Why exclusivity of one brand per industry?

We want quality brands that have a Hispanic strategy and to ensure that our cardholders recognize these partners in each industry as a strong partner of the iGlobal experience.

Your family history inspired this passion to develop the iGlobal Card?

My late parents were field workers serving the citrus industry with long work hours and hard labor.  They financially assisted family members in Mexico. We are the American Dream.  Multiple jobs, teaching us respect for hard work, and my father eventually owned his own small construction company and my mother earned senior supervisor for a large electronics company.  The result, five educated sons, doctors, entrepreneurs, and grandchildren that epitomized what can happen in two generations.  My parents, prior to their passing, were able to witness one of their eldest granddaughters graduate from Harvard medical school. 

The bottom line is that all workers want the same things in life--financial stability, health, and family safety.  It is this dedication why our mantra remains, “Serving working families worldwide”. We accomplish by working in partnership with employers, community merchants, clergy and responsible organizations that have the compassion and caring for these workers.

What makes the iGlobal MasterCard so ideal for business?

First, we are focused on workers who choose not to have traditional bank accounts--most often, ethnic labor.  We eliminate the need to issue paper checks, which in turn for employers, avoids lost or stolen checks, stop payments, and tracking mobile workers.   The system uses standard ACH bank to bank payroll transfers that are secure and reliable.  Let me add, that employers such as landscapers, contractors farms, don’t lose their workers who must run off to banks to cash checks—then a majority rush over to wire houses to send money home most often across borders.  We eliminate this entire time constraint and provide both the employer and employee with a user-friendly system that has their funds transferred to their card, in real time, each pay period.  

Does the employee require a traditional bank account?

No.  The iGlobal Card substitutes that need.  Each card is tied to an account at First Bank of California that is insured by the FDIC up to $250,000.  Each card has a maximum balance of $10,000.  We allow $500 ATM withdrawal daily worldwide.  We also allow over $2,000 daily for purchasing goods and services.   Our accounts do not pay interest, so if the worker has a traditional bank account, a portion of the funds can be moved to that account each payroll period.

This covers payroll with convenience, how does this assist workers who must send money to family?

We eliminate the need to wire.  We provide workers with two cards if necessary, independent accounts, so one remains with the worker and the second card is sent to whoever relies on them for assistance.   A worker can transfer funds card-to-card in real time.   Most important, the cost is a fraction of wire fees—there are no hidden fees cloaked under “currency exchange”, and the inconvenience of wire location hours and accessibility are eliminated.   We charge a flat fee per transaction.  If you send $50 or $2,500, the fee is $6.00.  If they wire $500 today the fee can be $58.  The only fees incurred on the receiving end are basic ATM withdrawal fees---most important, the savings are extraordinary compared to high wire fees and the inconvenience of check cashing, rushing to a wire house and calling family across the globe to provide a “pick up transaction number”.   The iGlobal Card is via a toll free number or Internet transaction—the family on the other end knows that funds are on their card.

How has the employer responded to the iGlobal Card?

They see us as partners. The card is a compliment to their payroll system—serving their workers who do not have bank accounts.  It is a wonderful addition to their benefits program.  There has been a revolution by employers recognizing how important these ethnic workers are to their productivity—the iGlobal MasterCard protects the workers hard-earned money. 

What is the advantage of Direct Deposit?

Any payroll department will tell you---safe, reliable, economical, and no more lost or stolen checks.   They merely print out paystubs and the rest is electronic.

How does this save the employer money?

They no longer have to issue checks.  They no longer have search for transient workers who check is returned, no longer worry about lost or stolen checks, stop payment charges—and no longer are they concerned about the high costs of their workers paying check-cashing fees.  If you care about your employees—the iGlobal Card says it.

What is the cost to the employer?

We charge $10.00 a month for administration per card, $1.00 to $0.75 per transfer, per card, per pay period depending on the number of employees.  The bank rarely charges an ACH fee since it is a bank-to-bank transfer, then our processor and bank move the funds directly to the workers iGlobal card on payday.

*How much does it cost to have these cards?

The cards are provided free of charge and are good until the expiration date, which is two years.  Upon the expiration, contact iGlobal MasterCard and new cards will be issued and they will transfer their funds from the old cards to the new cards.  Keep in mind that these high security cards do not have a name on the front—they are instant issue.  If an employer or worker prefers a name on the card, then they are ordered, returned with ten working days, and can be used as a second identification.  The Well Card program is also attached to these personalized cards that is free and allows great discounts to the cardholder in the medical field from doctors, hospitals, labs to pharmacies.  This is an option for all workers however there are a $9.95 charge for this card.

Can a worker have one of each a personalize card and an instant issue card?

Yes.  The worker may send the instant issue card to family to receive money where the personalize card they will use for their personal needs.

*What does it cost to have the card each month?

The convenience fee on the account is $5.95/month. This cost covers management, administration, insurance, and fees paid to the bank, MasterCard, and other third party vendors who partner with us to deliver the funds as required.  Many employees choose to add this to their cost as a benefit.  The employer pays for the transfer each payroll period.  There is no fee to the employee/cardholder to receive payroll.

*What does registration consist of?

We need their information because this is their money, their account, and to access their cash they must identify themselves. We require name, address, phone, birth date, name of employer, and any government issued ID number.

*How soon can an employee put cash on the card and use it and where?

Immediately, following registration.  Their card is active at the first deposit.   They merely need to register the card with their employer, our staff or call customer service. Call immediately to change that PIN number before putting cash on the card to a number that only they will know. They will never give that pin # to anyone unless they want them to withdraw cash from their card or use your card for purchases.  An employer can do batch registration so by the time the employee has the card in hand, it’s active.

*How much does it cost the cardholder to put money on my card?

If Direct Deposit is used, it does not cost the cardholder a thing.  If they use Western Union, the charges vary from $3.95 to $4.95 with a set amount each day.  The Greendot Moneypak will charge $4.95 if the deposit is cash.  If they use direct deposit, they may deposit a portion on the card and a portion by check.

How much can Direct Deposit transfer to an employee’s iGlobal Card?

No limit.  The maximum balance on each card is $10,000.

If they deposit cash onto their card is there a maximum?

Yes, $2,500 daily per card.

*If they send money to someone, when will they receive the money?

Immediately. All transactions are real time 24/7. The ATM they visit must have one of the logos from the back of the card.

*Can they send a card to more than one person to whom they send money?

They can use as many cards as you desire. ONLY register the cards that they will use so they don't have to pay a monthly fee for cards they don't use.

*How much can they send and how much does it cost?

They can transfer up to $2500 daily. There is a fee of $6.00 to share money from card to card.

*Can they use the card to buy groceries and other things like Walmart?

Yes. Anywhere there is a PIN driven system or the MasterCard is accepted.

*After they register the card, why do they need to call and change the PIN?

A PIN guards the privacy and security of their money. Never give the PIN to anyone, it's for his or her private use to make purchases and withdraw cash. If they transfer money, they only need the card number, not the recipient's PIN number.  At registration they will be given a PIN and informed to CHANGE IT.

*If they lose the card, how do they get a replacement and what will happen to the cash?

The operator will ask them questions to verify the card number, PIN number and personal questions on the account. Once it is confirmed, the card will be replaced and funds will be transferred.  The cost for a replacement card is $10.00.  It is important to always keep their card number, PIN in a safe place for security.  The employer may provide another card at no charge.

*Can they approach their employer to contact iGlobal Card for other employees or Direct Deposits?

Yes. We encourage it. They can call customer service or email to support@iGlobalCard.com

*Is there a minimum age of who can register a card?

Yes. The age is 18 years.

*How do they check my balance or a history of where they used the card?

they can call the toll-free number and follow the instructions.  If they have access to a computer they can register the card with a User name and online password…there also to see their daily activity.  And, you can call customer service to receive a statement by email.  The cost is $2.00.

Do you see adding more services? 

Yes!  That is the core of our existence—to continually offer product and services that make sense for our cardholders.