Al Rajhi Bank issue million "Payroll card" to corporate employees

25 December 2014

Al Rajhi bank Crossed the milestone mark of ‘1 Million Cards’ by end of Oct 2014, as a landmark in the corporate banking services sector. On this occasion, Al Rajhi bank congratulates all companies using this service in wages payment to staff, along with its promise to continuously serve its customer with further commitment and innovated solutions in a manner fulfilling their changing needs.

Hundreds of Corporates are utilizing Al Rajhi Bank – Payroll cards for staff salary payment, in which companies upload the file via special electronic channel, and then salary distribution is automatically made inside Al Rajhi bank quickly and effectively. A special program runs verification process for any possible errors, while in cases of such errors it return the file for a fix and re-upload by customers.

The bank took the initiative to automatically serve the companies which follow Wages Protection System (WPS); the system provides a digital file in order to complete the regulatory requirements which has to be sent later to Ministry of Labor.

Al Rajhi Bank enables the companies to distribute salaries to their employees inside the Kingdom of Saudi Arabia regardless of geographical location, it enables its holder to from the ATMs cash withdrawal services from any bank inside the kingdom through Saudi Payment Network (SPAN), it also enables its holder to conduct local and international transfers via Al-Rajhi's ATMs or Al Rajhi Tahweel Centers, in addition to the ability to use the card via thousands of points of sale (POS) terminals all over the Kingdom allowing the card holder to make flexible purchase without any restrictions.

SAMA invited six banks to roll out the EMV (Europay, Master Card, and Visa) secured Payroll card and Al Rajhi bank was among them. Accordingly Cash Management Department worked closely with SAMA and rolled out successfully during last year within the stipulated time. Ever since the roll out there have been a good response from different companies and many are routing their payroll card payment through Al Rajhi Bank.

More News