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Things You Need To Know About FSA Debit Cards

Friday , 8, July 2022 Comments Off on Things You Need To Know About FSA Debit Cards

The IRS has mandated that all transactions must be substantiated, and that process is a lot more complicated than it used to be. As the IRS mandate intensifies to require all employers to provide employees with FSA debit cards, many small business owners are finding that their existing debit card processes are not meeting this new requirement. 

In order to remedy these issues, many small business owners are turning to third-party processors to help them meet the IRS mandate. Automating debit card substantiation processes reduces costs and improves participant experience.

Third-party processors offer a number of services, including the ability to create and manage an FSA debit card program, to help small business owners comply with the IRS mandate. In addition, these processors can also help businesses resolve any issues that may arise from using FSA debit cards, such as incorrect account balances or declined transactions.

These processors have experience working with small businesses and will be able to help you get your FSA debit card program up and running quickly and easily.

If you have questions or problems with your FSA debit card account, make sure that you are following the correct steps for using your card. Then try contacting the bank or financial institution that issued your card. Finally, if all else fails, you can contact the IRS directly to ask for help resolving your issue.