Frequently Asked Questions
About TemPay
What does TemPay do for me as a staffing firm?
We do your payroll, billing, payroll taxes, help with credit and collections, and provide you with the opportunity to obtain economical workers compensation insurance coverage, maximizing your cash flow and allowing you to concentrate on increasing sales and profits.
How long has TemPay been in business?
We have been in business since 1994, and have roots in the staffing industry dating back to 1980.
Does TemPay do business nationwide?
We have provided service to temps working in approximately 40 states. Our client base ranges from New England to Florida through the Midwest to California.
What kind of clients does TemPay serve?
Our clients are strictly temporary employment agencies. We handle all staffing firm specialties, including light industrial, medical, clerical, food service, IT, banking, advertising, and accounting.
Does TemPay keep all of my information confidential?
All information remains totally confidential (It is only shared with the government as required). Client information is not discussed with other clients and we do not offer our databases to any company or individual.
Does TemPay provide me with software?
TemPay uses a comprehensive software package that performs all the major front and back office functions and tasks. We can supply you with software that will handle your front office needs and allow you to send and retrieve information from our system.
Does a bank or national staffing firm own TemPay?
Unlike many other funding companies and factors, TemPay is not owned by another company. It is a national, privately-held financial services and management company exclusively serving the temporary staffing industry.
How It Works
What does money-only or factoring mean?
Factoring/money only means that your company cuts your own paychecks, prints your own invoices, and pays and files your own payroll taxes, and TemPay just wires money into your company's account each week to cover these expenses.
What does payroll funding or full service mean?
Payroll funding/full service means that TemPay cuts paychecks, prints invoices, pays and files your company's payroll taxes, as well as providing funding.
Does TemPay charge one fee?
We have both standard full service and money only fees but offer discounts for larger volume customers.
Will my customers know that I am using TemPay's services and support?
Our service is virtually invisible. Your paychecks bear only your company name and address; your invoices bear your company name along with our lockbox remittance address. If we call your customers, it is done under your company name.
Do I have to give TemPay all of my business?
Our full service clients are required to allow us to handle all of their temp business. Our money only clients must offer us the opportunity to factor all new customers. If we choose not to factor a particular customer, they may choose to self fund that customer.
Is TemPay's fee based on the bill or pay rate?
Our fee is based on the bill rate, not the pay rate.
Are there any hidden costs with TemPay?
There are NO hidden costs. TemPay does not charge for an application fee, checks, invoices, Dun & Bradstreet reports including 24/7 credit monitoring through DNBi, envelopes, postage, wire transfers or ACH Payments, direct-deposits, paycards, postage, overnight packages sent to your office!
Is TemPay the employer of record or am I?
Your company remains the employer of record.
Does TemPay have a local lockbox for payments?
TemPay uses a lockbox at our local bank for remittances. This helps to speed up the cash application process.
What is the workers compensation program TemPay offers?
If your current WC premium is $25,000 or more, you may be eligible to participate in the preeminent workers compensation program for the temporary staffing industry.
How does TemPay’s workers compensation program work?
If approved by the program underwriters, TemPay will advance your annual premium to the insurance carrier and repay its advance by deducting an amount weekly from your proceeds to cover the cost of the premium and its fee for this service. There are no up-front premium costs or fees for this service.
Getting Started
How can I qualify to use TemPay's services; I may have some credit issues?
To become a client, you first need to fill out both a Business and Personal Confidential Information sheet. We are not looking for perfect credit; and we can generally provide an answer the same day that your application has been received!
What are the upfront costs or charges of getting started with TemPay?
There are no upfront costs or charges, just give us a call!
How long does it take to get up and running with TemPay?
In many cases, your staffing company can be up and running in as little as two days if necessary; rarely does it take more than a week to get started.
I have an SBA loan. Can TemPay take second position on my receivables?
TemPay will not, in most cases take a second position on your company's receivables.
I wanted to sign a two-year contract with TemPay; can I get a special fee?
TemPay is always glad to negotiate a longer contract, often at a rate that is less than our standard 12 month contract.
Services and Support
Does TemPay have a credit manager who could help me with my collections?
We have a credit manager, with over 25 years of experience along with a credit/collection department that work in a customer service friendly manner in resolving delinquent accounts.
Can we get any special reports if required?
Our software offers hundreds of reports of all types. In addition to the standard reports sent to you on a weekly basis, we can also create custom reports if required, at no cost to you.
Does TemPay offer direct deposit?
TemPay offers both standard direct deposit and payroll cards, which can be used at any ATM or at any store that accepts credit/debit cards.
Does TemPay provide health insurance for my temporaries?
We have an alliance with a company that provides affordable health insurance for temporary employees. The cost of the insurance is deducted from the employee's checking/saving account or payroll card.
Can my employees cash their checks at a local bank or your bank?
TemPay issues paychecks drawn on a large national bank operating in 26 states. We also offer direct deposit and payroll cards. This allows employees freedom from having to deposit their paycheck at all. It is also typical for a staffing firm to make arrangements with its bank or a nearby local bank to enable temporary employees to cash paychecks.
When I call TemPay with a question will I get a live person or will I have to deal with voicemail routines?
When you call TemPay, you can expect one of our staff to answer your call directly, between the hours of 7:30 a.m. and 7:00 p.m. Monday through Friday, Eastern Time.
