Brief Description

This is a disbursement service whereby the Bank debits the corporate client's deposit account and distributes the money to its employees payroll account representing salaries and/or wages for a given period.

Features

Payroll Account

There are three different payroll accounts that the client can use for its employees:

• For Officers/Managers: Current Account
• For Staff/Rank & File: Savings Account or Cash Card Account
• For Contractual: Cash Card Account

Card Type

The ATM card that is issued to the employee's respective account shall depend upon the account opened per employee:

• CTBC Bank Visa Debit & ATM Card which is linked to a Peso Savings or Checking Account
• CTBC Bank Visa Cash Card which is linked to a Cash Card Account

Faster turn-around time

Opening of accounts, production of cards and release/distribution of these cards are done automatically.

Requirements

• Account Opening Form (AOF)
• Identification Documents (Corporate)
• Registration at Securities and Exchange Commission (SEC)
• Board Resolution
• Articles of Incorporation
• Memorandum of Agreement

Please refer to your Relationship Manager/Account Officer for other pertinent documents required.