Salary payments on credit cards mean civilized relations between employees and company’s management. Nowadays salary projects in the banks are an effective mechanism for payment of wages to international payment cards like VISA or MasterCard which are highly popular options. The terms of salary credit cards contain a number of bonuses for both an enterprise and its employees.
Benefits for the company:
- Fully automatized processes for enrolling funds and generating salary statements through the use of iFOBS eSalary module or similar tool within the Client-Bank system.
- Assigning a personal salary manager to the company by the bank which means full support, possibility of visiting the company’s office for collecting documents, issuing plastic, holding presentations for additional products and services.
- 100% transparency for officials and auditors.
Benefits for employees:
- Free cash withdrawal at ATMs around the world.
- Free issuance of premium cards (Gold, Platinum) with chip technology.
- Financial risk insurance – an option that allows people to protect their own funds in case of plastic theft or personal details theft.
- SMS-notification of online operations
- Round-the-clock support service.
Nowadays, some banks go even further rendering free connection to Internet Banking, which allows:
- to make payments and transfers from the salary plastic in favor of legal entities and individuals;
- adjust spending limits by plastic;
- get loans with grace periods;
- enable/disable CVV verification by plastic;
- issue and replenish deposits without visiting a branch of the bank;
- replenish mobile phones online;
- pay for utilities;
- repay loans in local banks;
- independently create a schedule of compulsory regular payments (for cell phone, utility bills, repayment of a loan , etc.);
- transfer funds from own credit card to any local bank plastic in real time.
A Corporate Card
There is also another type of credit card for your employees, namely a corporate card. This is a bank plastic attached to a legal entity account. It is intended for payment of expenses related to economic or basic operation of the company, including fiduciary, mobile connection, transport and travel expenses, as well as receipt of cash. A credit corporate card will be extremely helpful in business trips.
The plastic cannot be used for pay-as-you-go and social payments. In essence, a corporate card is an analogue of funds issued under the report.
To register a plastic, the legal entity must sign a contract with the bank on the issuance and maintenance of corporate cards, which displays information about the employees who will use these cards. The agreement should be supplemented by statements of employees on the issuance of cards and power of attorney on them from the company. Also, to open a plastic account, it is necessary to provide the bank with the relevant documents.
So it is obvious that transparent finances and payments within the company is a road to success and mutual benefits.