Payroll Accounts in Dubai
Payroll account or Salary account is an individual bank account of every employee where all monetary payments like salary, wages, bonuses etc. is credited by the company. Having a separate salary account helps you manage your finances better by keeping your monthly receivables separate than your savings. You can maintain your salary a/c and savings a/c with the same bank as well as with two different banks as per your choice.
UAE is a rapidly growing economy and over the years has become an attractive market for the businesses. Since the government also has increased spending on job creations and infrastructure, it has resulted in better employment opportunities for people around the world. For companies, on one hand it has ensured readily available man force, on the other has increased the administrative pressure one of which is managing employees payroll. In this fast pace environment, this has become a challenging task for the companies.As, already involved in operations, branding, and other such managements, various banks offer a lending hand to your company and takes the charge of managing your employee’s remuneration.
All you need to do is, share your payroll details, and they’ll execute your salary payments every month. It’s made so easy! Isn’t it?
Features of a Salary A/C :
- It is a zero balance account. You don't need to maintain minimum balance in the account.
- Employees also get an free Debit card and higher cash withdrawal and spend limit per day.
- Preferential rates are offered on Loans & Advances.
- Free Online banking facility and quick bill payments.
- Free cheque books
- Easy access to full banking services.
- Eligibility Criteria for opening a Salary A/c
Varies from bank to bank.
- How to get your Salary Account opened?
Just, Fill the form !
Bank agents will call you instantly to share details. Then all you have to do is, check your requirements and submit required documents. Once, the Bank finally approves it as per it’s criteria, congratulations! Your account is opened.
Choosing the right bank to open your Payroll a/c is a crucial decision. It brings along plenty of added benefits. As every bank offers its own set of advantages to the users, you must wisely select what is best suited as per your needs.
Few tips to help you decide your bank:
- Note all the important queries that you may have and clarify when the representative visits you.
- Try to check the websites of different banks for a quick insight about the recent offers.
- Last, but not the least, go through the offer documents carefully before finalizing your bank.