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  Home Page > E-banking >Corporate E-banking Service >Settlement Service >Wage Payment (Agency Reimbursement Service) >Wage Payment (Agency Reimbursement Service)
Wage Payment (Agency Reimbursement Service)
 

I. Introduction 
Wage Payment (Agency Reimbursement Service) is a service that allows enterprises to pay salaries to their employees and to reimburse them for different kinds of fees through ICBC Internet banking. Available functions include batch instructions committing and instruction inquiry.

II. Target Client
Clients who have the demand for transferring salary to persons or units.

III. Features
If enterprises choose to use the agency Wage Payment service provided by ICBC Corporate Internet Banking Financial Room, they can enjoy high-quality and effective services with the following features:
1. Timely: If the enterprise chooses to pay salaries through the Corporate Financial Room of Internet banking VIP Room, ICBC will process relevant documents real time through the computer system, and salaries will also be transferred into accounts real time; if the enterprise chooses to use Corporate Financial Room of the payment services, the bank will automatically process a number of batches a day through the computer system, thus can guarantee that salaries will reach accounts in time.
2. Privacy protected: Compared with the traditional way of Wage Payment through discs, this service reduces the intermediate procedures and better protects the privacy of salary information. Except the corporate financial clerks, nobody would have access to information about the sum paid (including employees of the bank) to each employee. Moreover, to meet the requirement for inner control of salary management, Wage Payment services provided by the Corporate Financial Room of Corporate Internet Banking VIP Room and the Corporate Financial Room of payment services both achieves that the department of personnel commits the instruction; while the financial managers authorize the instruction yet cannot view the detailed information of Wage Payment.    
3. Safe: The enterprise, by paying salaries and bonuses through the Corporate Financial Room of Corporate Internet Banking, can avoid not only safety risks in delivering, transporting and keeping cash, but also mistakes in sending salaries and bonuses.
4. Wide coverage: The Corporate Financial Room of payment services has a nationwide coverage. Corporate employees need only open accounts at bank branches of ICBC across China to receive salaries and bonuses in time.
With the VIP Room service of Corporate Financial Room, salaries can be transferred not only to personal accounts of ICBC, but also personal accounts of other domestic banks.

IV. Application Condition
The client need first open the Corporate Financial Room of ICBC Corporate Internet Banking. The payment account of Corporate Financial Room appointed by the client must be a primary deposit account or a special Wage Payment account.

V. Sign up
I. The procedures for opening the Corporate Financial Room of payment services are as follows:
1. The corporate Internet banking client fill out the Application Form for ICBC E-Banking Corporate Clients to Modify (Cancel) Items and its enclosed form at his account opening ICBC branch, applying for opening the Corporate Financial Room of payment services.  
2. The corporate Internet banking client can also sign the service agreement online, making a self-help application for opening the Corporate Financial Room of payment services. The specific procedures are as follows: The client clicks the first-leveled menu "Payment services" in the website of Corporate Internet banking, then enters "Corporate Financial Room --- Self-help Opening"; after the client chooses the name of the enterprise and its account number and confirms, a window of "Customer Instruction" will pop up to allow the client to confirm; after the client clicks "Confirmation of service opening", the system will prompt the client to choose the certificate and sign the digital signature; after the signature is verified, the system will inform the client that he has successfully registered for the Wage Payment service.   

II. The procedures for opening the Corporate Financial Room of VIP Room are as follows:
The corporate Internet banking client fill out the Application Form for ICBC E-Banking Corporate Clients to Modify (Cancel) Items and its enclosed form at his account opening ICBC branch, applying for opening the Corporate Financial Room of VIP Room.

III. If the client chooses the model of Corporate Financial Room featuring separation of financial and personnel management, he needs to, besides opening the Corporate Financial Room, submit an Application Form for Clients to Open (Modify, Cannel) Corporate Financial Room Featuring Separation of Financial and Personnel Management, and apply for the certificate to conduct personnel management.

Ⅵ. Considerations
For the suspicious batch instructions from the Corporate Financial Room, the system will remind you to verify your instructions so as to avoid maloperation and the loss it may cause.

Ⅶ. Definition
Corporate Financial Room: A set of services which allow enterprises to transfer salaries, commissions, and premiums to personal and corporate accounts though ICBC corporate Internet banking.

VIP Room: A set of special services ICBC provides to the corporate clients through corporate Internet banking, including account balance reminding, service reservation, automatic collection of payment, and Corporate Financial Room.

Responsibility Statement: The contents on this page are for reference only. The ultimate power of interpretation is under the Industrial and Commercial Bank of China Limited. For part of the contents, notice and specific regulations of local branches shall prevail.


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