What is an IBA Salary Card?
A Salary Card is a bank card issued under the name of the employee where employer transfer salaries, bonuses, vacation and trip allowances, etc. using your company’s account.As any bank card issued by the IBA Salary Card enables its owner to benefit from all the range of Bank’s products and services developed specially for card holders: cashwithdrawal, payment of purchases, service fees, etc.
The annual fee* and ATM cashing charges** are paid directly by your company. Hence, the company staff does not lose any money!
*The annual fee is defined in bilateral agreement between the company and the Bank.
**The cashing charge is set at a rate already defined for the company for such kind of services.
Benefits for the company
- Your Company has the possibility to decrease all the costs associated with cash collection, storage and distribution.
- All payments related to business trips of the Company’s employees can be transferred to the salary card. Employee’s expenses related to business trips can be controlled with the account statements.
- Your Company can assure the better confidentiality of employees’ remuneration.
Benefits for Company’s employees
- Without bearing any additional expenses the Company’s employees become holders of international plastic cards issued by the world’s leading payment systems.
- Company’s employees enjoy the opportunity to get their salary (bonuses, allowances, etc.) at any time of the day, 365 days a year, by means of the wide network of Bank’s own ATMs, as well as any ATM in any country of the world. They are also able to withdraw cash at our branches and sub-branches.
- Cardholders do not need to declare their cash at the customs and exchange money abroad when travelling with a card.
- Company’s employees have also the possibility to view their account balance, to make payments and other transactions online with the Electronic banking services
- Company employees are able to control their spending and to plan their budget by having total overview of their account movements.
- As it is possible to get cash from the card account both in national currency and US Dollars the employees of the Company don’t have to deal with exchange bureaus where they risk getting counterfeit notes.
How to subscribe?
- Sign an agreement with the International Bank of Azerbaijan
- Open current account
- Provide the Bank with a completed application form with the personnel’s data.
- Pay bank cards commission fee
- Each employee will receive a current account and a debit card on the basis of application data
- Bank cards will be handed over to the representative of the company to distribute to employees
How salary is transferred to the account?
- One day prior to transferring salary to its employees the Company sends to the Bank a payment order with an indication of amounts payable to the employees and transfers commission fee stated in the contract.
- The Bank transfers the amounts specified in the payment order to the accounts of the Company employees