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PayVault™ is ideal for companies with a large staff compliment, a migrant workforce, or companies with complex, multi-jurisdictional payroll requirements.
Avoid overspend on your expense accounts and keep them within a budget by using our pre-loaded debit cards. Simply deposit the required expense funds on whenever you need to, and top up as and when required. Access up-to-the-minute statements via your online account management facility to help monitor expenditure as it occurs. Remember your employee will receive notification of the credit transfer immediately by SMS, avoiding the stress of phone calls to find out where the money is.
Newly arrived migrant workers can experience difficulties in opening bank accounts - making wage payments a particularly challenging aspect of employment.
With conventional bank accounts companies are usually required to provide a letter confirming that the migrant worker is in their employ and, even then, the individual will have to go through a rigorous know-your-client information and credit check process before enjoying the benefits of a bank account in their country of employment.
With PayVault™ the account arrangement is made between the company and PayVault™. No bank account is required for the employee to be able to withdraw their wages with their allotted PayVault™ card. What’s more, employees can request an additional card for dependants or relatives in their home country where their wages may be withdrawn in that country’s currency and so avoiding costly cash transfers.
Contractors or staff employed to carry out company business offshore for a short period of time (for example film crews, sales executives, construction workers or news agencies) usually have to wait until they return to their country of residence before they can claim expenses or draw on their salary.
With PayVault™, offshore contractors and staff enjoy immediate access to their salary and expenses as funds can be drawn in the currency of the country they are working. No red tape. No forex issues. Even daily payments can be transferred and topped up as and when required.
Avoid overspend on your expense accounts and keep them within a budget by using our pre-loaded debit cards. Simply deposit the required expense funds on a daily, weekly or monthly basis and top up as and when required. Access up-to-the-minute statements via your online account management facility to help monitor expenditure as it occurs. Remember your employee will receive notification of the credit transfer immediately by SMS, avoiding the stress of phone calls to find out where the money is.
PayVault™ offers individuals and companies with offshore entities convenient and confidential access to funds held in the jurisdiction of incorporation.
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