My boss wants to open a debit card acct in his name with the debit card in my possession and have my paycheck deposited into this acct. The acct will not be in my name and he will have all control over how much money is available to me. I have offered to open a checking acct in my name at the same bank but he still wants to do it his way. is this right or legal?
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He may be able to require you to have you pay direct deposited in an account of your choosing and as long as you agree to have your pay deposited into this account it is perfectly legal.
If he is telling that he will withhold your pay unless you do so, it is coercion and that is what is illegal.
I certainly would not have my money deposited into an account without my name on it. I don't believe it is legal. I believe if has direct deposit, then at will you can open an account in your name and have it deposited in your account providing you fill out a form for direct deposit giving your account # and routing #. Your boss seems fishy. If you can only get money by using a debit card, what makes you think he can't withdraw on your with the account# on it. You see it is really not your account. You won't see a bank statement, he will. He will also know how you spend your money. My advice to you is keep getting a paper paycheck till he gives in to direct deposit into your own private account.
Banks offer a service to employers where they can provide a debit card to their employees and they can pay them by putting money to the debit card. Your boss would be the main owner of the account but the only way to access the money is through the debit card which is only issued to the employer. Your boss would not be able to take your money away from you. Only the person with the debit card can retrieve money.
This is only legal if you approve and give consent to the bank. But I believe your first question is correct. Is this ethical? I don't think so. Why does he need access to your money?
If you sign the bank document letting him have access to your account you will have very little legal proof that it was forced upon you.
I would not do this.
Then... you wait for him to leave town, and you never see your money again.
Sounds like he is having money problems, and he is planning his escape.
What kind of a scam artist are you working for?
I don't know why he would do this, sounds like a way to scam you out of your wages. AVOID!
It would be illegal for him to require you to do this and it would be stupid for you to do this.