Transcript TransitChek - Choice Strategies

TransitChek
A Leader in Commuter Benefit
Programs
Copyright © 2011 TransitChek, Inc. All rights reserved.
TransitChek introduced the nation’s first commuter
benefit, TransitChek, and continues to be a leader in
commuter benefits by providing:
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Ease of use and flexibility
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Innovation technology
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Team Approach
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Industry Experts
With TransitChek – Everyone Benefits!
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Commuter Benefits Programs 101
o Employers enable employees to use tax-free dollars to pay for
their commuting costs
o Commuter benefits programs can help employees whether they travel by bus,
subway, train, ferry, vanpool or bicycle
o Under Federal law, employees can set aside:
• Up to $125 per month to pay for their commute by transit
• Plus up to $240 per month towards commuter-related parking expenses
o A commuter benefit may be offered:
• On a pretax basis
• As a tax-free fringe benefit
• Or a combination of the two
TransitChek Programs offer easy implementation, personal attention, and
IRS compliant products for all types of businesses—nationwide
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About TransitChek
o Introduced the nation’s first commuter benefit program, TransitChek, in 1987
o Continues to support ease of use via innovative technology
• Proprietary systems - Web-based ordering system
• Self-Service Models - TransitChek® Mobile—employees may enroll and
manage their commuter benefits account from any smartphone or tablet
o Provides the highest level of personal attention
o Sole focus is on providing commuter benefits—we are experts in the industry
• National coverage – local expertise
• Fully compliant programs
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TransitChek® Mobile
The Next Generation in
Commuter Benefits
Employees may enroll in and manage their
TransitChek commuter benefits account from any
smartphone or tablet:
o Self-service model to ease the administrative
burden on Benefit Administrators
o Enroll or update info anywhere, anytime
o Check balances and view transactions on-thego
o Easily manage plan details and benefit
amounts
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TransitChek Product Portfolio
The TransitChek ® Premium MetroCard ®
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Annual MetroCard (good for an entire year)
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True Calendar Monthly Unlimited (31st day is free
during the months of January, March, May, July,
August, October and December
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Unlimited rides 24/7 on NYC subways and local buses
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The Card is mailed directly to your home once a
year
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Cards can be replaced if lost, stolen or damaged
by filling out a certification form and contacting
our Customer Service Department
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Available only through TransitChek in the NYC
Market
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TransitChek Product Portfolio
The TransitChek QuickPay® Card
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A prepaid Visa® card that can be funded with both transit
and parking deductions on a tax-free and post-tax basis
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Meets the highest levels of IRS compliance for card-based
commuter benefits products
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24/7 Access to account information
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No monthly usage limit
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The Card has an expiration date of three years
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Funds roll over from month to month and year to yea
The TransitChek QuickPay® Prepaid Visa ® Card is issued by The Bancorp Bank
pursuant to a license from Visa U.S.A. Inc. The Bancorp Bank; Member FDIC
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TransitChek Product Portfolio
TransitChek® Vouchers
o Used like cash to purchase tickets and
passes
o A good choice for commuters who use
commuter rail and suburban bus
services, ferry and ticket-by-mail
programs
o Available in a variety of denominations
TransitChek CashBack®
o A good choice for employees who use
transit systems or park at facilities
where vouchers are not readily
available
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TransitChek Product Portfolio
Access – A –Ride
By federal law, all transit operators in the U.S. must provide
alternative paratransit transportation services. Employees may
have their tax-free transit benefits applied to these services, such
as vanpooling, through TransitChek.
Bicycle Benefit
A $20 per month employer-paid fringe that can be used for bicycle
equipment, enhancements, repairs or storage.
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Commuter Savings Calculator
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Employees can go to www.save.transitchek.com
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Commuter Savings Calculator
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Virtual Administrator
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Used as Landing Page
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Regional Product Availability
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TransitChek Premium Administration Schedule
For Employees
to Start Using
Benefit By:
Enrollment
Open/Close
Administrator
Site Opens
Administrator
Site Closes
Payment to
TransitChek®
(ACH)
Jan-2012
Nov 1 /Nov 30
Dec - 1
Dec - 8
Dec - 16
Feb-2012
Dec 1 / Dec 31
Jan - 1
Jan - 8
Jan - 16
Mar-2012
Jan 1/Jan 31
Feb - 1
Feb - 8
Feb - 16
Apr-2012
Feb 1/Feb 28
Mar - 1
Mar - 8
Mar - 16
May-2012
Mar 1 /Mar 31
Apr - 1
Apr - 8
Apr - 16
Jun-2012
Apr 1/ Apr-30
May - 1
May - 8
May - 16
Jul-2012
May 1/ May 31
Jun - 1
Jun - 8
Jun - 16
Aug-2012
Jun 1/Jun 30
Jul - 1
Jul - 8
Jul - 16
Sep-2012
July 1/July 31
Aug - 1
Aug - 8
Aug - 16
Oct-2012
Aug 1/Aug 31
Sep - 1
Sep - 8
Sep - 16
Nov-2012
Sep 1/Sep 30
Oct - 1
Oct - 8
Oct - 16
Dec-2012
Oct 1/Oct 31
Nov – 1
Nov - 8
Nov - 16
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Client Testimonials
“We believe in TransitChek’s value not only for the
savings, but also as a means to improve the quality
of life where we work and live.”
- Vice President, Human Resources, national educational production company
“TransitChek has improved morale and saved
our employees money.”
- Vice President, Administrative Services, national media outlet
“It’s a really valuable benefit for our employees to put
pretax dollars toward their public transportation. TransitChek gives
them more flexibility.”
- Human Resources Associate, national media network
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Why TransitChek?
o Easy to use self-service model designed to reduce the workload on benefit
administrators
o Employees enroll through a secure, member website and select the product that
is best for them
o Products are then mailed directly to employees’ homes
o Personal attention from a team of industry experts
o Portfolio of products to meet the needs of companies of every size
o Fully IRS compliant programs and products
o We are the experts – it’s all we do!
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