To meet an Employer or other company's funding needs and facilitate the movement of funds to the employee, Elan offers three alternative funding processes.

ACH Direct Deposit Process - Elan utilizes the standard ACH Direct Deposit process as its primary funding mechanism. This means that the employer or other funder does not need to change anything from the current Direct Deposit process and system – just treat the PayCard like a bank Direct Deposit. Elan provides the Transit Routing Number (it is also displayed on the reverse of the card), and the card number assigned to the cardholder as the deposit account number.

Account-Card Transfer - Elan can facilitate the transfer of funds easily from any ACH-enabled account to any Elan PayCard on a one-time, weekly, monthly, or twice a month basis.

Funding Account - Elan recognizes that there are often payments that cannot use the ACH process (e.g. the correction of Payroll errors and “Last day pay” issues). There are many employers who have other needs for “real-time” funds transfers – for travel advances, emergencies, daily temp organizations, etc. where the ACH process is either inappropriate or requires too much lead time. To accommodate these issues, Elan has developed the “Funding PayCard.” The Funding PayCard is a PayCard “owned” by the employer / funder and pre-funded via ACH, which is available for an employer or other customer to make “real-time” funds transfers to PayCards using Elan’ employer-based Internet tools.

Funds Location / Insurance - Values loaded onto the Elan PayCard, regardless of the method, will be maintained in US Bank. The PayCards are FDIC Insured. Cards are issued under the Elan Financial Services name. The individual balance records are maintained and actioned on Elan systems, and reconciled daily.