Frequently Asked Questions
How much does the ShipMoney Program cost?
There are generally three sets of fees, depending on how the Program is implemented and the size of the client. Fees may include a one-time Program setup fee, a monthly Program Management or per Account fee, and/or a “Load” fee. The Load fee is charged when funds are added to the ShipMoney cards as a percentage of the deposit. This fee should be evaluated in comparison to cash-to-master costs.
Can the Program be implemented without ShipMoney cards?
Yes. The flexibility of the ShipMoney system enables clients to utilize the wire functionality for sending crew payments separate and distinct from introducing ShipMoney cards to crew members and/or captains.
How are the ShipMoney cards ordered and fulfilled?
Cards are ordered within the ShipMoney client portal via uploaded batch files or in combination with an API Integration between the ShipMoney system and the client’s HR/Payroll systems. There are two types of cards that can be ordered. Personalized cards have the name of the crew member printed on them. The Non-personalized cards have a generic name printed on them (for example, “ABC Shipping Company”). Clients can also personalize crew member cards at their offices, port agencies, etc. utilizing the ShipMoney remote card personalization functionality.
How does the ShipMoney Program funding work?
Clients wire payroll funds to the ShipMoney Program Depository Bank. After the funding wire clears, clients can immediately and at any time load funds to cards and/or initiate crew wire payments. Clients are always notified when incoming funding wires are available for card funding or crew wire payments.