Payroll Solution

Riyad Bank offers Corporate Banking Customers – Corporate and Government Institutions alike, Payroll solutions, as a part of its portfolio of Payment services, enabling them to deposit the salaries of their employees directly into the Employees’ accounts, with the flexibility to make local or cross-border salary disbursements. Payroll Solution helps your company achieve significant cost reductions through eliminating paperwork and reducing the administrative work involved when paying your employees manually.

Features:

Payroll tool for creating a detailed payroll file, and modifying your old files by retrieving and re-uploading them
Process the payments electronically - timely and securely
Auto reconciliation and no need for paperwork
Direct credit to the employee account – in Riyad Bank or other Banks in the Kingdom
Reduces the administration involved in printing checks and reports
Reduces costly and time consuming reconciliation activities and provides detailed monthly reports
Provides high level of control and security
Saving employees time in visiting their banking branch to cash payroll checks
Report for the Customer containing the statuses of the Payments
Better control on the accounts from which the Employee salaries are debited thru ROLC
Paying out the salaries of the low wage earning labors, electronically by using MyPay Prepaid product
Employees are eligible for other benefits like:

Free credit card for the first year
Very competitive consumer loans
Free RiyadOnline access
Riyad Bank mada cards free of charge
Riyad Bank mada cards accepted locally and internationally

Note: All Corporate and Business customers are eligible.

Download the Agreement form and fill the needed information with your signature, and deliver the original copy of the agreement with a copy of the ID and Commercial registration to the nearest Riyad Bank branches.