easypay-banner

"EasyPay" Payroll Card

"EasyPay" Payroll Card

This payroll program is designed to provide benefits to any organization with any number of employees. The solution covers payroll requirements of companies across all industries, be it hospitals, construction, hospitality, services, factories, and any other industry within the Kingdom of Saudi Arabia.

“easypay” Payroll Card from the Saudi Investment Bank helps organizations reduce their payroll administrative efforts and expenses, it also addresses the financial services spectrum for blue collar workers covering salaries, purchase transactions, remittances etc.

For the employers, the comprehensive solution covers the end to end process from salary upload to dispensing cash and subsequent servicing of cardholders.

For the employees, the debit-like card empowers them to handle their cash in a safe and secure manner with multiple access options and peace of mind.

The features you need to know:

mada-easypay-card

 

For the employer:

Cost effective way to manage payroll

Eliminate cost involved in cheques printing and cost involved in payroll distributions and reconciliation

Easy and timely payroll

No need to visit branches or stand in long queues to withdraw cash from the counter or ATMs. You can now process payroll with a click of a button

Automated and effective financial management through our Internet Banking

No more manual work, the entire process is now automated to serve the employer in the most efficient manner

Fast and convenient transactions

Instead of spending extended time to process payments, employers can now complete the process in a very short period

Reduce paperwork

Environment friendly process. No need for paperwork anymore. It is all online

Compliant with the Wage Protection System (WPS)

“easypay” Payroll Card is compliant with the Wage Protection System (WPS) regulatory requirement that provides the service to employers to pay the salaries of their employees who do not hold a normal bank account

Reduce risks involved with cash and cheque fraud

No more risks involved in any potential fraud that can arise during the cash/cheque payment process

Boost employee productivity

Employees can now spend more productive hours at work instead of leaving during office hours to go and cash cheques or remit money to their home countries

For the employee:

Immediate credit of funds

No need to wait for salaries to be manually distributed

No need to stand in long queues to cash cheques

Saves you time, cost and effort to visit banks to cash cheques

SMS notification for each transaction

Get additional security with free SMS alerts for every transaction made on your card to provide you with more comfort, security and protection

Online access to view the card account and remittance feature to home country

You can access your card account online to view your account details and transfer money to your home country at competitive prices

Free unlimited PoS purchase transactions from any merchant within the Kingdom

Cardholders can now use their cards for any PoS transaction within The Kingdom with most comfort and ease

Free cash withdrawal from SAIB ATMs

Cardholders can now use their cards to withdraw cash from SAIB ATMs for free with most comfort and ease for their daily expenses

Mini-statement option through SAIB ATMs

Cardholders can view their mini-statements through SAIB ATMs to help them track their expenses

Chip-and-PIN card safety feature

The card is secured with a Chip-and-PIN safety feature giving more comfort to the cardholder during financial transactions

Safer than carrying cash

Cardholders can avoid carrying large amounts of cash that can expose them to theft or robbery

Dedicated easypay Call Center to help you

Cardholders can contact easypay Call Center on 920 025 995 to inquire about their card account and any other related inquiry

Flexx Transfer Service

Transfer money to an account or to be picked up as cash over the counter at your convenience via our E-banking channels such as online banking, SAIB ATMs and Phone Banking "Flexx Call". For more information, please click here.

ELIGIBILITY CRITERIA

  • Employer must open a master account with SAIB or chooses to use any corporate account in case of existing SAIB client
  • An agreement must be signed between the employer and SAIB for salary processing
  • Employer must provide information about employees in an electronic format to SAIB
  • SAIB performs the KYC (Know Your Customer) on the employees and issue the payroll cards to them
  • Employer must transfers the salaries online through SAIB Corporate Internet Banking and SAIB uploads the salaries on payroll cards
  • The WPS requirements are covered by SAIB throughout the process

DOCUMENTATION

  • Signed and stamped payroll services agreement
  • Corporate account with SAIB
  • Corporate Internet Banking Agreement
  • Commercial registration (or equivalent in the case of government bodies)
  • Each nominee's identification card duly signed by the holder and stamped
  • Fill-in and return the registration forms:
    • Corporate registration forms

    • Form for nominees/users that are authorized to approve the financial transactions

    • Form for authorities and limits of the "financially authorized" persons

    • Form for nominees/users that do not have financial authorities (makers, checkers and viewers, ...etc.)

       

       

       

       

       

FOR INQUIRES OR ASSISTANCE, PLEASE CONTACT US THROUGH OUR 

FAQs

What is easypay program?

easypay is a payroll program compliant with the Wage Protection System (WPS) regulatory requirement that provides the service to employers to pay the salaries of their employees who do not hold a normal bank account.

How many days does it take to receive the cards?

It takes 5-7 business days from the date on which SAIB receives the required data.

How long is the card valid for?

3 years from the date of issuance.

How much is the ATM cash withdrawal limit for easypay cards?

The cash withdrawal limit for easypay card is SAR 5,000 per day.

How many times can the cardholder withdraw cash from the ATM and what are the fees related to this service?

From the SAIB ATMs, withdrawal is free for all transactions. From other banks ATMs, a fee of SAR 2 will apply from the 5th transaction per month onwards.

How many times can the cardholder request a balance enquiry from the ATM and what are the fees related to this service?

From the SAIB ATMs, balance enquiry is free for all transactions. From other banks ATMs, a fee of SAR 0.8 will apply from the 5th transaction per month onwards.

Can cardholder use the card at any PoS machine in the Kingdom of Saudi Arabia?

Yes, the cardholder can use the card at any POS within the Kingdom of Saudi Arabia for free and without any limitation to the number of transactions.

Can easypay cardholders use the card outside the Kingdom of Saudi Arabia?

No, easypay card is mada branded which can only be used within the Kingdom of Saudi Arabia.

Will employers have to credit the full salary amount or can they make a partial salary disbursement?

Employer will have to make the 100% salary credit for all the employees as per the WPS law.

 

Do employers need to prepare separate salary files for normal accountholders and easypay cardholders?

No, employers can prepare a single file for both normal accountholders and easypay cardholders. SAIB will process them based on type of account automatically.

What if there is any issue with the salary transfer?

Employers may contact their relationship manager or easypay Call Center on 920 025 995. Please note that the easypay Call Center will not process the salary transfer related issues or queries and will direct you to the easypay support team.

If employers transfer the funds to SAIB today how long will it take to credit to the employees accounts?

The turnaround time for payroll transfer will be as per the agreement. For example: if the funds made available at SAIB before 3:00 P.M, then the file will be processed on the same day.

What if any kind of assistance is needed?

Please, contact SAIB easypay Call Center on 920 025 995 or the easypay support team. You can also contact your relationship manager.

What are the services offered by easypay Call Center?

Services offered by easypay Call Center:

  • Issue a replacement card
  • Issue a replacement PIN

What happens if I lose my card or if my card is stolen and how can I request a replacement card?

Directly call easypay Call Center on 920 025 995 to stop the card and issue a new card.

What if I forget my PIN?

Please, contact easypay Call Center on 920 025 995 to issue a new PIN.

How do I change my PIN?

Through our SAIB ATMs.