Payroll Services

Product Feature
Currency USD KHR
Minimum ongoing balance USD 5.00 KHR 20,000.00
Interest rate Saving Interest Rate
Withdrawal conditions Unlimited withdrawals in cash or non-cash are allowed at any time and in any amount.
Replenishment Unlimited deposit replenishments in cash or non-cash are allowed at any time and in any amount.
Payroll processing fee USD 0.20 per transaction of each staff after expiration of the signed contract KHR 800 per transaction of each staff
Debit Cart /ATM Free for 01 year or up to 03 years , renewal after promotion will be charged 3$/Year
Tax All interests earned are subject to withholding tax of 4% (Based on GDT of Cambodia)
Eligibility
  • Account is operated with "SAVING Account" and ATM Card. (delivery within 3 working days)
  • Free 01 year for service on payroll or up to 03 years.
  • Free 01 year or up to 03 years on ATM Cards.
  • Free Passbook
  • Free Mobile Banking
  • Free Certified Account Balance (12 months)
Doc for Opening A/C

At Client Site:

  • ID Card
  • Company ID Card
  • Customer Signed on the opening account Form
Mandatory’s A/C Requirement

Chief Bank’s Site

  • To fulfill A/C opening and compliance.
Form / File
  1. Payroll Instruction Letter:
    Consent to authorize the bank to withdraw from company account (S/A, C/A ) in order to transfer to S/A of each payroll account.
  2. Payroll Service Agreement:
    (Agreement Between Client and Chief Bank)
  3. Excel Standard File upload:
    to be completed by client and will send to the bank for transferring to their staff accounts.
    (The file is required to send to the bank one day in advance before transferring to each staff account).
Benefit
  1. Saving time and money by paying your employees through Chief payroll service. Chief Bank offers you integrated payroll services that can reduce costs, eliminate paperwork and improve security.
  2. You can simply submit your staff salary payment files or directly credit the amounts to their accounts through our mobile banking after our enhancement. You do not need to withdraw cash from the account or issue cheques anymore.
  3. Improving your cash flow and ensuring that your employees are paid quickly and on time.
  4. Saving time and money by eliminating the needs to carry large amounts of cash or issue cheques on payday.
  5. Keeping your company’s funds more secured, as there is no need in transporting your cash from the bank to the office, and monitoring expenditures through free mobile banking service.