HOUSTON, July 6 /PRNewswire/ -- What working Americans don't know about payday lenders and check cashing services could be costing them. Over the course of a year, these outlets can collect as much as a paycheck's worth of fees from each person using them to cash payroll checks.

According to a late 2008 report by the Financial Services Centers of America, check cashing facilities are charging between 1.5 and 4 percent in fees for cashing a payroll or government check. This means that a person cashing an $800 payroll check every two weeks pays between $240 and $768 each year.

The good news is there are less expensive ways to get paid - some of which are free. Workers can avoid check cashing fees if they direct deposit paychecks onto re-loadable prepaid debit cards like the Vision Premier Prepaid Visa Card, issued by PreCash. Consumers sign up for free direct deposit, which automatically loads their earnings onto the card. Then, they can withdraw cash through free signature transactions, ATMs, or spend their money anywhere Visa is accepted.

"Americans today need to put every dollar to effective use, and not throw money away on fees," says John Chaney, CEO of PreCash. "While prepaid debit cards offer the convenience of a Visa card, the bottom line is they can help workers keep more of their money."

Use the Savings Calculator at www.visionprepaid.com to find out how much you could be saving.

About PreCash, Inc.

PreCash provides convenient, real-time payment solutions that convert cash into electronic payments for consumers who do not use traditional payment methods such as credit cards or bank accounts. PreCash offers the Vision Premier(SM) Prepaid Visa(R) card and other prepaid Visa and MasterCard(R) products, prepaid debit card program management services, real-time cash bill payments, prepaid wireless refills, payroll card products and more. The company places more than 30,000 prepaid debit cards in the market monthly and services more than 30,000 national retail, wireless dealers and independent retail locations nationwide. Founded in 1998, PreCash is headquartered in Houston, Texas, with additional offices in Portland, Oregon. For more information, visit www.precash.com, or www.visionprepaid.com.

SOURCE PreCash, Inc.