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Payroll Agency

☆ Description
Payroll Agency refers to a fee-based service offered by ICBC to pay the staff a relatively fixed amount of wage, bonus, fund, subsidy and pension monthly on behalf of institutions.

☆ Features
1. Wide service scope: ICBC offers payroll agency service in RMB and foreign currencies on behalf of institutions. The wage can be transferred to the designated receiving accounts in local or non-local ICBC branches or other banks (banks that can get access to PBOC's Bulk Electronic Payment System only). At present, ICBC can make wage payment to customers who have opened settlement accounts in ICBC or other banks in RMB and nine foreign currencies, including USD, EUR, HKD, GBP, JPY, CHF, CAD, AUD and SGD through ICBC's system.
2. Multiple channels: Institutions can apply for payroll agency service through Internet banking or at counter.
3. Flexible service hours: ICBC Internet banking provides payroll agency service 7*24 hours all year round, while ICBC outlets provide the counter-based service at any working day all over the year.
4. Fast arrival: For intra-system wage payment applied though ICBC Internet banking, the wage will be credited to account in real time; while for wage payment applied at an ICBC counter, the wage will be credited to accounts on the day appointed by both parties.

☆ Service Channel
You can apply for the service at ICBC outlets or through Internet banking.

☆ Operation Guide
Institutions shall sign the ICBC Payroll Agency Service Agreement with ICBC and then ICBC will pay wages to their staff according to the requirements of the institutions. Institutions can also apply for the service through the self-service channel of ICBC Internet banking, or by disc or other data transmission methods at counter. Procedures are subject to regulations issued by local ICBC branches.
To apply for the service, please contact local ICBC branch by sending short messages or giving a call to 95588.

The above is for reference only. Details refer to the rules drawn up by local ICBC branch. To save your time, please call your local ICBC before applying for the service.