Cardholder Frequently Asked Questions
- What is CashPay?
- What are the benefits of having CashPay?
- How do I sign up for a CashPay card?
- How long will it take to receive my card?
- Will my name appear on my CashPay card?
- Can my CashPay account be a joint ownership account with my spouse?
- Can I use my CashPay card immediately?
- How can I be sure of the balance in my account?
- How do I make a Visa purchase using my CashPay card?
- Can I get cash at a POS terminal?
- Can I transfer funds from my CashPay account to a checking or savings account?
- Do I have to take my entire pay on payday?
- Is there a daily maximum I can take from my CashPay account?
- When are transaction fees charged?
- Who should I call with questions about my CashPay account?
- Am I responsible for transactions that I did not make?
- How do I dispute a transaction?
- What are CashPay Customer Service hours?
- Who should I contact concerning the amount of pay or amount credited to my account?
- Can I use my local banking center for customer service on this account?
- How do I get my name or address changed on this account?
- What time of day can I withdraw or make purchases with my pay?
- What will I receive in my card package?
- How do I cancel this service?
What is CashPay?
CashPay is a Visa®-branded card account, which allows the company to offer direct deposit to those employees who do not have a checking account or who do not want their pay, deposited into their existing bank account. The deposit account is FDIC-insured and follows all Regulation E requirements. It enables the company to move toward a totally electronic payroll. The employee has access to their pay 24 hours a day, 7 days a week via purchases everywhere Visa debit cards are accepted, ATMs and PIN-based point-of-sale (POS) terminals.
What are the benefits of having CashPay?
The principal benefits to CashPay employees are:
- Saves time – easy access to pay by 9:00am (standard direct deposit availability of funds) and no waiting in lines to cash pay check
- Convenience – use for purchases everywhere Visa debit cards are accepted, pinned point-of-sale terminals and to make withdrawals at virtually any ATM 24 hours a day
- Provides security – no need to walk around with large amounts of cash
- Eliminates check-cashing cost – some pay up to 15% of face value to cash check at check-cashing stores
- Improves control over money – take only what you need, when you need it
- Account information and customer service – available 24 hours a day, 7 days a week
How do I sign up for a CashPay card?
Contact your Program Administrator representative.
How long will it take to receive my card?
Once you sign up it will take approximately 5-7 business days to receive your card. It will arrive via U.S. postal mail. Please read all information included with your card carefully to ensure proper activation and use of your card.
Will my name appear on my CashPay card?
Yes, your name will appear on the CashPay Card.
Note: If you receive an instant issue CashPay Visa card directly from your employer, your name will not appear. After 3 value loads or 60 days, whichever comes first, a personalized card will be sent to you via U.S. mail.
Can my CashPay account be a joint ownership account with my spouse?
No. All CashPay accounts will be issued in your name only, similar to how your paycheck is issued in only your name.
Can I use my CashPay card immediately?
Once your card is received you must call into CashPay Customer Service or visit online customer service to activate your card. Once this occurs, you may use your card as soon as the company makes the deposit.
How can I be sure of the balance in my account?
You can complete a balance inquiry using automated account information via the toll-free customer service number, at an ATM, or you may also check your balance online at www.bankofamerica.com/cashpay. It is recommended you perform a balance inquiry before performing a transaction so you will know how much money is available in your CashPay account.
How do I make a Visa purchase using my CashPay card?
You can use your CashPay Visa-branded card everywhere Visa debit cards are accepted. Just press “credit” and you will be asked to sign a receipt for your purchase.
Note: If your company issues a CashPay ATM card, you may use your card at PIN-based Maestro and Interlink point-of-sale locations and at Bank of America, Visa and Cirrus ATMs only. These cards will not be accepted for Visa signature purchases.
Can I get cash at a POS terminal?
Many merchants, like grocery and convenience stores and the U.S. post offices, will offer the ability to take up to a certain amount in cash back with a pinned point-of-sale purchase. The amounts could vary by merchant, but usually are $20, $50 or $100.
Can I transfer funds from my CashPay account to a checking or savings account?
Yes, if you have an originally-issued CashPay Visa card, you may perform an Online Funds Transfer via the CashPay Customer Service website at www.bankofamerica.com/cashpay (fee will apply) to transfer funds from your CashPay account to a traditional checking or savings account owned by you in the United States. You will need to register a “transfer-to” account prior to performing your first transfer. A minimum value of $20.00 may be transferred and you may only have up to two different “transfer-to” accounts in your profile. To begin this process you will simply sign on to the CashPay Customer Service website and select the “Transfer funds” link within your online Account Summary page.
Do I have to take my entire pay on payday?
No. You may use your CashPay card everywhere Visa debit cards are accepted, at pinned point-of-sale (POS) terminals and at ATMs for any portion of your available balance as often as you like. You may withdraw up to $1,000 from an ATM during any 24-hour period, while you may withdraw any amount of your pay at the teller. Safeguard your money and take only what is needed.
Is there a daily maximum I can take from my CashPay account?
Yes, there is a daily maximum ATM withdrawal limit. You may withdraw up to $1,000 from an ATM during any 24-hour period. This is to help protect you against ATM cash out fraud. ATM owners determine how much their ATM’s will dispense per transaction (up to 40 bills) and you may need to make multiple withdrawals to reach the $1,000 limit.
When are transaction fees charged?
Transaction fees are charged as they occur.
Who should I call with questions about my CashPay account?
You will be provided the toll-free CashPay Customer Service number when you receive your card. This number is displayed on the back of your card, as well as within your user guide information. You may also obtain account information via online customer service.
Am I responsible for transactions that I did not make?
The Bank of America “Zero Liability” Policy protects you against fraudulent transactions if your card is lost or stolen (subject to certain conditions). If you lose your card or someone uses your CashPay card without your permission, it is important that you contact us as soon as you can to report your card lost or stolen, report any unauthorized transactions and begin the error resolution or dispute process. The account agreement you receive with your card will provide specific instructions on the dispute process and the time frames that apply to the Bank of America “Zero Liability” Policy. In addition, Visa Purchase Security and Visa Zero Liability programs also protect the consumer for unauthorized card use (Visa-brand cards only).
How do I dispute a transaction?
All account disputes should be directed to CashPay Customer Service. You should contact us as soon as you can if you think your statement or receipt is wrong, or if you need more information about a transfer on the statement or receipt.
If you are a cardholder that does not receive a monthly account statement, we must hear from you no later than 60 days after the earlier of the date you electronically access your account, if the error or problem could be viewed in your electronic history; or the date we sent the FIRST written history on which the error or problem appeared, but in any event you must report the error or problem no more than 120 days after the transaction allegedly in error was credited or debited to your account. If you are a cardholder that receives a monthly statement, we must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
A customer service representative will provide you with a dispute form to complete and return. A dispute form may also be obtained on the CashPay Customer Service website.
What are CashPay Customer Service hours?
For your convenience automated account information, dedicated Customer Service Representatives and www.bankofamerica.com/cashpay are available 24 hours day, 7 days a week.
CashPay automated account information options include:
- Card activation
- PIN selection and changes
- Check account balance and recent transactions
- Check date/amount of last deposit
- Opt to speak to a Customer Service Representative
CashPay Customer Service representatives can help you with the above options, plus:
- Change of name and address
- Respond to questions about transactions on your account statement
- Reset your PIN
- Process statement requests
- Investigate fraudulent transactions
- Process lost/stolen/damaged cards
- Request an emergency card replacement
- Request an emergency cash transfer
- Close your account
www.bankofamerica.com/cashpay options include:
- Card activation
- Balance inquiry
- Transaction history
- ATM locator
- PIN change
- FAQ
Who should I contact concerning the amount of pay or amount credited to my account?
Contact your company’s payroll representative -- Do not call CashPay customer service.
Can I use my local banking center for customer service on this account?
No. All CashPay customer service needs must be directed to the toll-free CashPay Customer Service number. Banking centers can assist with standard checking and savings accounts, but not CashPay.
How do I get my name or address changed on this account?
All account maintenance activities should be directed to CashPay Customer Service.
What time of day can I withdraw or make purchases with my pay?
Your pay will generally be available at the traditional opening of business on the payday, or approximately 9 am. After this time, you can access your pay by making purchases or withdrawing funds at any ATM 24 hours a day.
What will I receive in my card package?
The following items are in your Card package:
- CashPay card
- Safety tips when using the ATM
- User guide information
- Deposit Agreement, Schedule of Fees and Privacy Notice
How do I cancel this service?
Notify your employer that you wish to be paid by another option and call customer service to close the account directly.
Note: Only the account owner or Bank of America can close a CashPay account.