Three Steps of EBL Payroll Package

EBL Executive Salary Account:

Employees having a salary of BDT 15,000 and above may open this account. This is a regular interest bearing savings account where your employees will get debit card, cheque book and internet banking facility. In this package, employees may avail EBL credit card with a full waiver on annual fees. Other benefits include waiver on account services fees, preferential interest rate on loan and waiver on internet banking subscription fees.

EBL Easy Account:

EBL Easy account is a debit card only interest bearing savings account for a staff having a salary range between BDT 5000 and 15000. Like the payroll card, this card can be used anywhere to purchase and withdraw cash. With this convenient payday solution, your employees can avoid cheque-cashing hassles and the risk of carrying cash.

EBL VISA Payroll Card:

Visa Payroll card is basically a prepaid card to help pay your employee salaries without bank accounts. Through this card you can pay the staff who draw a salary below BDT 5000. It can be used as debit card and is accepted for purchases, paying bills or withdrawal of cash. With this convenient payday solution your employees can avoid cheque-cashing fees and the risk of carrying cash.

Benefits of the EBL Payroll Package:

Benefits to the Employer:    

Efficient Salary Disbursement

• Transfer salaries/reimbursements directly from your current account with EBL to your employees account.   
• Single-instruction salary credit: same day salary credits for companies having corporate account with EBL    
• Eliminate payroll costs and responsibilities.

Dedicated relationship manager for each corporate to understand the financial requirements of your employees.

Benefits to the Employees:

• Simple account opening procedures with minimum documentation.    
• No cheque-cashing hassles  
• Waiver of account services fee    
• Credit Card: Free for first year. *subject to credit assessment   
• Preferential pricing on debit cards, credit cards, loan products and other complementary banking products and services.    
• Access to VISA ATMs anywhere in the country.    
• Shop and pay bills wherever Visa Debit Cards are accepted    
• Flexible credit criteria.    
• Simpler documentation and fast track loan processing    
• Special discounts at selected merchants.

Validity    

• 2 years

Issuance Fee    

• BDT. 200 + VAT

Transaction Limit    

• Daily cash withdrawal at ATMs: BDT 40,000; Daily POS transaction limit: BDT 100,000

DOCUMENTS

a) Company Requirement

• Completed Application Form
• TIN Copy
• Trade License Copy
• Company's Memorandum and Articles of Association
• Business Card or any proof of Authorized Signatory's designation

b) Individual Requirement

• Completed Application Form
• Business Card
• One Passport Size Photograph of the Applicant
• Office ID Copy

How the Process Works    

• Company sends excel based payroll or salary payment instruction to EBL    
• EBL Loads the fund from master account to individual cards account    
• Fund can be taken out from ATM or used at POS through card    

Additional Features

• Zero balance prepaid card without maintaining any bank account    
• Ensure transfer to card within one hour (unless otherwise there is any unavoidable circumstances) - After receipt of debit instruction )    
• Confirmation SMS by Bank    
• Transaction Alert by bank - on demand    
• Annual expense summary statement to all members   
• Option of withdrawing fractional amount from card through branch    
• Accidental Death Insurance up to 100,000 @ premium - On demand   
• Chequebook facility to make payment (account payee only) to any person or organization (fee applicable)- on demand    
• Cash withdrawal facility across the country    
• In General withdrawal Limit: Min BDT 500, Max BDT 100,000.