If you're a California employee, you know that your employer has EDD benefits, but there are times when you're wondering if EDD benefits will actually make your life easier in a way that a checking account or cash may not. There are two benefits of EDP that have been proven to work for many people, and they're a credit card and debit card.
The California Employment Development Department provides benefits in the form of either a check or debit credit card by check. With a credit card you're not limited to just one place to deposit your money. Direct deposit isn't always an option either.
EDD says that employees will get their money twice-owner 'with a credit card.' They say they wait several weeks for their card, but wulkan said she only waited a couple days. There are a few things you can do to help yourself get approved faster than it takes EDP. You can pay off any balance as soon as you receive it, or you can also transfer the money to a savings account and save it there for the same amount of time. When it arrives you'll have more money saved, so you won't have to wait as long to get the benefit again.
There's another advantage to a California EDD debit card that has been proven. If you're working with someone you don't know and you're working away from home, you'll need somewhere to store their paycheck, check book, money order, or other important documentation. You can keep a cashier's check for this purpose. A bank or other business can also provide you with a check with your name and address on it. These check should be delivered to the EDD office on time. You're supposed to receive your benefit after six months, but depending on how much you deposit to the EDD card you may get it sooner. EDD recommends that you always keep a checkbook on hand and that you keep at least three to six months worth of checks on hand.
It's easy to get an EDP debit card because there are plenty of places you can buy these. You can either buy an online account for a low price, or you can go to your local bank and find a . . . . . . credit or debit terminal to set up one for yourself. You'll want to make sure you're buying from the right place though.
There are also EDP credit cards for you if you're self-employed or are in debt. You'll need a little bit more information about that kind of benefit before you apply because it's different from the debit card mentioned above. There are no restrictions on what you can store and they have different restrictions for how much you can deposit to your account or withdraw from it.