Payroll Services

SME Development Bank provides payroll service that allows using ATM cards and promises you managing the salaries of employees accurately and on timely manner.

 

PRODUCT BENEFITS

  • Our time-saving payroll service helps you develop the practice of saving money.
  • Could pay the salaries accurately, thoroughly and securely.

 

TERMS AND CONDITIONS

  • List of the salaries shall be checked against excel file format developed by SME Development Bank, and sent both excel and PDF files via card@smedbank.com two days prior to the pay day (working day).
  • Transferring the salaries to accounts opened at branches outside Yangon will cost MMK 500.

 

REQUIRED DOCUMENTS

  • The company has to send a confirmation letter of assigning two responsible people to contact and an email address in company letterhead in crediting salaries to employees’ accounts at the bank.
  • The company needs to send the opening forms and a schedule of individual employees’ facts needed for opening accounts along with the confirmation letters stating those facts are accurate. The company also has to send the request letter in letterhead for opening the accounts for employees in the list.
  • Card Account can be opened with the initial deposit of MMK 1,000 and Excel File format can be asked for after opening process.

 

FEES AND CHARGES

  • Card 1,000 MMK
  • Salary charges per transaction 200 MK