A payroll project is a
banking service under which the bank, on behalf of and at the expense of the
company, transfers wages and other payments (sick leave, vacation pay, etc.) to
the employee's plastic card.
Both a legal entity and an individual entrepreneur can become a participant in the payroll project. The service reduces the workload
on the accountant, eliminates unnecessary paperwork, as well as the risks and
costs associated with transporting, storing, and dispensing cash. For employees, the payroll
project ensures payment confidentiality, the ability to withdraw cash at a
convenient time using a payroll
card, open a payroll savings
account with a higher interest rate, and enjoy other privileges.
As part of the payroll
project, The bank acts as an intermediary between the organization and
employees. The bank credits employees' cards with salaries, sick pay,
business trip allowances, bonuses, and vacation pay.
