Salary project

“Elcart” payment system is the widest ATM network around Kyrgyzstan.

 Advantages of the salary project from Bai Tushum Bank for organizations:

• Decreasing expenses, connected to giving out salaries to personnel owing to saving financial means on cash operations implementation, keeping and transporting cash, cutting expenses for collection;
• Decreasing the load on accounting and cash services; exclusion of the risk when working with cash; provision of employees’ personal safety; confidentiality;
• Convenience of transferring amounts by single payment with presenting payment order and the list of salary amounts transferred to bank card accounts;
• Possibility, for organizations that have branches and representations, of centralized money transfers to bank card accounts of employees of those branches and representations;
• Possibility of establishing ATMs at organization’s office;
• Distribution of cards by Bank employees on organization’s territory;
• Minimal time of putting money on the card accounts;
• Provision of confidentiality in relation to employees’ salaries.

Advantages for organization’s employees:

• There is no need to wait in line at organization’s cash office; salary is transferred to the card automatically;
• Access to your money 24/7 through ATMs all over the country;
• On-line control of all operations with the help of sms notifications and through internet-banking;
• Accrual of 3%annual interest rate in case the amount of minimum remainder on the card account is not less than 1000 som;
• Absence of necessity to carry cash, and risks connected to bearing big amounts of cash;
• Possibility of immediate card operation blocking in case it is lost; safekeeping of money on the card-account is guaranteed;
• Possibility of noncash payment of utilities, products, and services;
• Easy and effective control of your expenses (at the request of employee, Bank provides free monthly writing out on the card account);
• Possibility of issuing additional cards for family and friends using the same tariffs;

Organizations’ employees, who are holders of “Elcart”, may take advantage of the following Bank services:

•  Pay for products and services in retail and service centers in Kyrgyzstan;
• Get cash in ATMs and cash output centers;
• Pay for utilities, payments to service suppliers, mobile operators, internet providers, television etc., using ATMs and POS-terminals;
• Conduct money transfers from card to card, using ATMs or POS-terminals;
• Use the card for getting salary and other financial income.

 How to join the salary project and organize salary payment to employees:

1. A company contacts any Bank office for singing a contract for salary project service and opening card accounts for salary transfers.

2. A company has to prepare an application, copy of passport, and a card with sample signatures for its every employee. The package of documents from companies’ all employees is sent to the Bank.

3. The company submits register of employees for “Elcart” payment cards issuance.

4. The Bank issues cards for company’s employees and sends cards to an authorized company’s employee using the power of attorney or directly to employees.

5. The Bank presents the list of company’s employees, and identifies their card account numbers.

6. The company presents the list of salaries, signed and attested by company’s stamp, and also duplicates it electronically for an authorized bank employee;

7. Bank transfers salaries on the employees’ card accounts, according with the presented list.

Additional services

• Possibility of opening additional cards for employee’s family members at any Bank branch.
• Possibility of account control through internet banking.
• Possibility of establishing ATM directly at company’s office for employees’ convenience;
• Operative consultative support of card holders on the issues of plastic card usage, through Bank’s Contact-center.