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Offering Stored Value For Transportation
M&T Bank, Buffalo, NY, and Benefit Resource, Inc., an administrator of employer-sponsored transportation benefits, announced a stored-value card program that allows individuals to purchase transit passes and transportation fares with pre-tax dollars.
The passes and fares are part of the Qualified Transportation Expense programs that employers can use as a benefit to their employees. Employees whose employers participate can sign up to receive an eTRAC MasterCard that is automatically loaded with pre-authorized, pre-tax deductions from each pay period. The cards can be used only to purchase transportation services.
Copyright © 2002 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 12, No. 4, 5/02
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