Al Rateb Payroll Solution
Al Rateb payroll solution is the most innovative payroll solution in the Kingdom offering financial inclusion to the unbanked and underserved while automating payroll processing for employers. The solution is compliant with upcoming Wage Protection System (WPS) laws requiring employers to make salary payments through financial institutions.
At the heart of our Al Rateb payroll solution is secured web portal for employer payroll processing and a first of its kinds, reloadable contactless prepaid card bearing the MasterCard logo allowing cardholder financial inclusion wherever MasterCard is accepted. The contact-less feature enables frictionless transacting initiated with just a tap!
Features & Benefits
Benefits to Employer
- Comply with upcoming Wage Protection System (WPS) laws
- Cashless automated payroll process
- More efficient payroll process
- Salary receipts generated
- Less disruptive to business (employee does not need to leave work to collect salary)
- Electronic employee management functionality – including creating new cards for new employees
Benefits to Employee
- Free of any financial burden – free to receive, free to use, and free to withdraw your cash
- Instant receipt of salary
- SMS notification on all card transactions
- Contactless transacting with just a tap – no PIN
- Secure – eliminates risk of cash loss/theft
- Can be used for saving purposes
- Accepted worldwide wherever MasterCard is accepted
- Supported by a 24/7 call center that supports Arabic / English / Hindi / Urdu speaking customers
Limits, Fees & Charges
| Employer Limits |
|---|
| Maximum of one card per employee |
| Only employee compensation can be credited |
| Fees & Charges borne by Employer | |
|---|---|
| Corporate Enrollment Fee | BD 100 |
| Card Issuance / Renewal Fee | |
| Up to 100 cards | BD 1.000 |
| Up to 250 cards | BD 0.750 |
| Up to 500 cards | BD 0.500 |
| Above 500 cards | BD 0.250 |
| Loading Fee | |
| Up to 50 employees | BD 1.000 |
| 51 to 100 employees | BD 0.800 |
| 101 to 300 employees | BD 0.600 |
| 300+ employees | BD 0.500 |
| Fees & Charges borne by Employee | |
|---|---|
| Card issuance | Free |
| Card renewal | Free |
| Card / PIN replacement | Free |
| POS transactions | Free |
|
ATM transactions (within Al Salam Bank network) |
Two free transactions per month BD 0.135 per additional transactions |
|
ATM Transactions (outside Al Salam Bank network) |
BD 0.135 per transaction |
| FX Mark-up | 2.5% |
| Required Documents |
|---|
| Application Form |
| Commercial Registration Copy |
| Article of Association |
| Board Resolution (if required) |
| Authorized Signatory List |
| Employee Declaration List |
For further details, please contact our customer care center on 17005500 or AFS at 17299099.
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