Payroll Account
A non-interest-bearing checking Mother Account with a required average daily balance based on employee count, and individual employee accounts—either checking (non-interest-bearing) or savings with interest credited quarterly for balances above P1,000.
REQUIREMENTS FOR ACCOUNT OPENING
To open a Payroll Account, please prepare the following:
For Employee:
1. Accomplished Account Opening Forms
2. Endorsement Letter signed by authorized signatories of the employer
For Employer:
1. Accomplished Account Opening Forms
2. Payroll Memorandum of Agreement