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WHAT ARE PAYROLL CARDS?

A Payroll Card is a stored-value card offered by some companies to their employees as an alternative to payroll checks or direct deposit. Payroll cards are similar to debit cards and can be used to make purchases or withdraw cash at ATMs.
Payroll card or disbursement card is generally used by the corporate customers/large firms to give to their employees who go on tour for payment of incentives to staff, wages to workers etc.
Payroll cards are expected to be issued to the customers in bulk quantity. For this purpose, an upload file will be provided to branches to create value for all the cards issued. If your children or parents are living far away from you and you want to send money to them every month for their personal use, you should look at Union Bank power pay card. It is a prepaid debit card that can be reloaded at your will and the card holder can use it for withdrawals and purchases across the country.

FEATURES OF A PAYROLL CARDS
  • FLEXIBILITY: Recipient can use the card at a wide variety of locations accepting Visa Cards, including restaurants and entertainment venues. It can be used in stores, online, or over the phone.
  • CONVENIENCE: Recipients can choose where they want to use the card. It can also be used to withdraw money from the ATM.
  • SECURITY: A Payroll Card eliminates the worries of losing a cheque or cash.
HOW TO APPLY
In order to apply for the Payroll Card, contact the nearest branch with the documents to comply with KYC norms required as detailed below:
  • Address Proof.
  • Identity Proof - Union Bank account Number/ Passport/ PAN Card/ Driving License, Identity Card, Letter from any recognized public/Govt. authority.
  • Contact Mobile Number.
CHARGES AND FEES
  • Payroll card can be obtained for a period of one year and can be renewed for two more years..
  • Each Card is issued at a price of Rs. 100/- each for Mastercard/Visa and Rs 50.00 for Rupay Payroll Card/Prepaid Card.
  • Redemption or renewal after Expiry Period - Rs. 100/- towards handling charges
  • Annual/Renewal charges at a price of Rs 50.00 are levied per annum for subsequent years.
CONTACT NUMBERS
For any queries or complaints please contact our 24 x 7 Call Centre-1800 22 2244/ 18002082244
 
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