The YES BANK Payroll Card is a rupee denominated prepaid card for disbursing your employees salaries in a more simpler and systematic manner. Pre-funded by the organization itself, the YES BANK Payroll Card lets the company issue payment by card instead of disbursing cash or cheques to its employees. By facilitating cash withdrawal at any ATM in India and point-of-sale transactions at all merchant outlets supporting MasterCard transactions, the Payroll Card eliminates the need for a separate salary account.
Features and Benefits
Card Type: YES BANK Payroll Card is a prepaid rupee denominated reloadable MasterCard Card with a validity of 5 years
Usage: The YES BANK Payroll Card can be used at all YES BANK ATMs in India as well as at any MasterCard accepting Merchant Establishments for purchase transactions in India. The card can also be used to withdraw cash at any ATM in India accepting MasterCard
Eligibility: No bank account or average quarterly balance maintenance is required
Transaction Limits:
Daily cash withdrawal at ATMs: Rs 10,000
Daily POS transaction limit: Rs 20,000
FAQ’s
What is a YES BANK Payroll Card?
The YES BANK Payroll Card is a rupee-denominated prepaid MasterCard Card for receiving your Salaries/Reimbursements. The Payroll Card would be loaded with the amount of Salary / Reimbursement payment done by the Corporate, whenever due.
What is the validity period of the card?
The validity of the card is 5 years from the date of Issue. The date of issuance and date of expiry is printed on the Card.
Where can the Card be used?
The card can be used at all YES BANK ATMs in India. The card can also be used at POS terminals at all the various merchant outlets supported by MasterCard in India. YES BANK Payroll card can be used at all MasterCard and Maestro ATMs in India for cash withdrawal and balance inquiry.
Who can deposit money onto the YES BANK Payroll Card?
The card can be loaded only by your employer with whom YES BANK has entered into a specific agreement.
Is there a limit on the load amount?
The card balance cannot exceed Rs. 50,000/- at any given point of time. The load / reload amount will depend upon the balance available on the card.
What is maximum amount that can be withdrawn from an ATM/swiped at merchant outlets in a day?
The maximum withdrawal limit in a day from any ATM is Rs 10,000. The YES BANK Payroll Card can also be swiped for making purchases up to Rs 20,000 in a day, subject to availability of balance in the card.
Are there any charges for using the Card?
Yes, the list of the associated charges are as follows:
|
Fee Type |
Amount (INR)* |
|
Card Issuance Fee |
200 |
|
Card Replacement Fee |
100 |
|
Cash Withdrawal Fee (at non-YBL ATM) |
20 |
|
ATM Balance Inquiry Fee (at non-YBL ATM) |
8 |
|
ATM PIN Regeneration Fee |
25 |
* Service tax as applicable will be charged
How can the Cardholder view the balance on his YES BANK Payroll Card?
YES BANK provides you the facility of Balance Enquiry on your Payroll Card through our YES TOUCH Phone Banking and Internet Banking facilities. One can do the following using the YES TOUCH Phone Banking/Internet Banking facility:
• Check your Payroll Card balance
• Know about the details of transactions carried out with your Payroll Card.
What do I do if my YES BANK Payroll Card is lost or stolen?
On loss of the card, please report to YES BANK through Phone Banking or to your nearest YES BANK branch. You would need to file a report of the Card loss with the police and submit a copy of the same to the branch. You will be provided a replacement card through your employer. The replacement card can be instantly activated by calling the YES TOUCH Phone Banking and the funds will be transferred to the replacement card in coordination with your employer.
How can the Cardholder apply for duplicate ATM / Internet Banking PIN?
To apply for a duplicate ATM / Internet banking pin, please call the YES TOUCH Phone Banking nos. A new pin will be instantly created and & sent to your email address securely.
What does the YES BANK Payroll Card kit contain?
The YES BANK Payroll Card comes in a Welcome Kit along with the following:
• Your ATM-PIN: This is a secure 4 digit number which you will need to use for making transactions at an ATM securely.
• An Information booklet: With our YES TOUCH Phone Banking numbers and instructions on how to use the card.
• Welcome letter highlighting the key features of the card
• Envelope: With the following instructions on the seal "Please do not accept if seal is broken".
