FNB Introduces a Payment Solution for Employers

First National Bank today announced the Eco Berry Farm as the first employer to adopt the new Smart Payroll Debit Card - an innovative employee salary payment solution.

FNB introduced the Smart Payroll Debit Card to large and small employers to streamline the often cumbersome and risky salary payment process to non-banked customers.

Smart Payroll Debit Card is a facility that provides corporate customers and entrepreneurs with the ability to open transactional banking accounts for their non-banked employees, without the need to visit a bank branch. This is a suitable solution for both temporary and permanent employees.

The Smart Payroll Debit Card enables employers on site to issue the employee with a Visa Electron Debit Card, provide the employee with a Personal Identification Number (PIN) mailer containing a unique PIN number, activate the account immediately and effect salary payment by way of electronic funds transfer.

Henry Walton, senior executive at FNB says: “This facility will provide both convenience and safety to employers and their employees as it will reduce their cash holding.”

“At FNB we do our very best to ensure that our customers’ needs are constantly met. In order to survive the current economic climate, both employers and employees need processes that will save them time, effort and money and we think the Smart Payroll Debit Card provides corporates, commercial customers and small business units with this solution,” adds Walton.

“The biggest benefit that the solution offers to online clients is the speed and simplicity with which the account can be opened and activated, says Lee-Anne Van Zyl, a Senior Executive at FNB Online.

“This solution provides simple account opening for employees who would otherwise be presented with challenges of opening a bank account. By opening accounts, the risk associated with cash payments is reduced substantially and ensures that the accounts opened are used and activated by paying the employee via Online Banking”, she says.

“The FNB Smart Payroll Debit Card is part of our continued focus on providing innovative banking solutions tailored to our clients’ needs,” concludes Walton.