Salary Payments to Company Employees

Centralised salary payment allows legal entities to disburse salaries to their employees quickly and conveniently through the bank, by transferring their salaries to employee accounts with the bank.

By signing an Agreement on Salary Payments to Company Employees, the company can reduce the costs associated with delivery and payment of cash, as well simplify current account opening and signing up for and use of other banking services for its employees.

Benefits for the company:

• Reduced costs related to cash collection and delivery, reduced bank charges on cash withdrawals;
• Reduced volume of work for cashiers and accounting department;
• No commission charged for transfers of salary payments via Internet banking for business clients or Electronic banking programme for business clients;

Benefits for the employee:

• Possibility to open accounts and receive various banking services;
• Receipt of Swedbank Debit card;
• Free-of-charge cash withdrawal and bill payments at all ATMs of Swedbank;
• Payments by various settlement cards for goods and services at no charge;
• Quick and convenient payment for utilities at no charge via the Telephone banking service or Swedbank Internet banking;
• Possibility to receive short-term loans;
• Possibility to develop an own credit record useful upon applying for mortgage loans when purchasing or repairing a house or apartment;
• Possibility for the participants of the pension scheme No. 2 to join the the most popular pension investment plan in Latvia.