The Voucher Shop, one of the UK’s leading providers of vouchers to the incentives and flexible benefit markets, has launched Flex Bank, a cost effective and efficient online programme to manage the supply of retail vouchers in flexible benefits schemes.
Flex Bank is an online version of The Voucher Shop’s popular Flexible Benefits voucher service whereby employees save money through purchasing store vouchers via their monthly salary.
Flex Bank offers employees greater choice and flexibility as instead of committing to specific vouchers every month they can now simply agree to a set amount deducted from their monthly salary which is then transferred into their online Flex Bank account.
Employees can save their deductions over a 12 month period and can choose when and where to draw down on their account, enabling them to manage their monthly expenditure efficiently and save up for seasonal extras such as Christmas or holidays.
Vouchers can be ordered online from over 20 high street stores and employees can instantly see the savings available on their choice of vouchers via the online flex calculator, giving them control over what they save and spend.
Flex Bank also offers a number of advantages to employers.
The website can be fully branded to reflect their corporate identity and, with only one monthly data file required and an integrated online tool to add or remove new starters or leavers, administration is simple.
The Voucher Shop offers professional unbiased advice on voucher selection and manages the fulfilment process, despatching the vouchers securely to either a home address or to the workplace.
John Sylvester, Director of The Voucher Shop, said:
“Our voucher service is an integral part of the flexible benefits schemes run for some of the UK’s largest businesses and the launch of Flex Bank delivers an even more dynamic and efficient solution for both employers and employees.