Checkless Bank Accounts

The First Tennessee bank offers its employees check-less bank accounts that may be accessed by either a VISA debit card or the bank's Money Belt ATM card. The arrangement enables employers to avoid cutting payroll checks or making other arrangements for employees without bank accounts. The program also builds the bank's deposit balances and generates a monthly fee of $5 per account. It also enables employees to avoid check-cashing fees and gives them the opportunity to get cash from ATMs 24 hours a day.