Compliance & Insurance

• Preferred Paycard/TransCard is SAS 70 Level II and PCI compliant. We are audited on a regular basis for compliance of data protection and cardholder security.
• Preferred Paycard/TransCard complies with KYC, AML, OFAC and all state laws when issuing and managing card programs.
• A convenience check is a standard part of the pay card program, allowing employees to access 100% of their pay at no charge.
• All reloadable cardholders undergo a background check using LexisNexis Instant-ID. If exceptions are discovered, Preferred Paycard/TransCard reports this information to employers.
• All reloadable cards are insured by the FDIC, with funds held in a FDIC-insured bank account.

Terms and Conditions

MasterCard/University Bank: This card is issued by University Bank, pursuant to a license by MasterCard® International Incorporated. MasterCard and the MasterCard® Brand Mark are registered trademarks of MasterCard® International Incorporated.