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FAQ> Corporate Payroll Account FAQ

FAQs about Corporate Payroll Account - IDBI Bank Salary Account FAQs


General FAQs

Q1

What are the benefits of opening an IDBI Bank Salary Account?

 

With an IDBI Bank Salary Account you can enjoy a host of benefits and services viz. Zero balance savings facility and reimbursement account and free facilities in the form of Debit-cum-ATM card, cheque book,  Omnipay, etc. For more details Click here to view them.

 

 

Q2

Can I as an individual open a Salary Account with IDBI Bank?

 

No, you cannot. It is true that the Salary Account is an individual level account, but however, a single person cannot open an account directly on his own. There has to be an agreement between the individual's employer and the Bank, and the employer has to sign up for the Salary Account program.

 

 

Q3

What documents do I need to submit for opening an IDBI Bank Salary Account?

 

  • Bullet Introduction by the company (Stamped and Signed by the authorized signatory of the company)
  • Bullet Photocopy of the Pan Card
  • Bullet Address proof (only in case the applicant has given personal address for correspondence and not the address of the Corporate)

 

 

Q4

Do I require an introduction from an existing IDBI Bank account holder for opening a Salary Account?

 

No. Introduction has to be made by your employer only.

 

 

Q5

Do I have to maintain any minimum balance in the account?

 

No. As a Salary Account customer you get a special waiver on the minimum balance requirement. It is a zero balance account.

 

 

Q6

Can I open a separate account to route my reimbursements?

 

Yes, a separate account shall be opened for you who shall be linked to your main Salary Account.

 

 

Q7

What all can I do with the Internet Banking facility offered to me with my Salary Account?

 

Given below is a list of transactions that you can do through Internet Banking:

  • Bullet Account management
  • Bullet View account balance
  • Bullet View deposit and loan account
  • Bullet Download statement of accounts
  • Bullet View cheque status
    • Demat Account information
      • Holding details
      • Generation of demat statement
      • View billing statement
    • Full transactional level
      • Fund transfer
      • Utility bill payment

 

 

Q8

What all can I do with the Phone Banking facility offered to me with my Salary Account?

 

Phone Banking gives you the convenience of 24 hours banking on your fingertips. You can do all the following and many more transactions on the phone:

  • Bullet Balance enquiry
  • Bullet Details on your Demat Account
  • Bullet Report loss of ATM/Debit Card
  • Bullet Cheque status
  • Bullet Cheque book request
  • Bullet Stop payment request
  • Bullet Open fixed deposit
  • Bullet Utility bill payments
  • Bullet funds to other bank accounts
  • Bullet Dial-a-draft

 

 

Q9

As a Salary Account holder, can I open a joint account? If yes, with whom?

 

Yes, you can open a joint account with your spouse or your blood relationships by providing the identity proof of your joint account holder.

 

 

Q10

If I am working for a company, which sends me to the United States of America for a couple of years or so, can I still continue getting the benefits of IDBI Bank?

 

IDBI Bank will provide you the benefits till you are an employee of an organization and the salary continues to get credited to the account.

 

 

Q11

How do I change the nominees for my Salary Account?

 

You need to give a written application to any of the IDBI Bank branches.

 

 

Q12

If I am a customer in Chennai, can I withdraw money from a Mumbai branch?

 

Yes. Any-branch banking for a Salary Account customer is free within limits. (Should there be a star sign here, refer to schedule of charges)

 

 

Q13

What are the charges for a Demand Draft issued on any IDBI Bank locations, for Salary Account holders?

 

Demand Drafts issued on IDBI Bank locations is free for Salary Account holders up to limits

 

 

Q14

What are the charges for a Debit Card?

 

The Debit Card is free for the first year for IDBI Bank Salary Account holders.

 

 

Q15

What is the charge for an add-on Debit Card on an IDBI Bank Salary Account?

 

Zero for the first year. Subsequently it will be charged at the prevailing rate.

 

 

Q16

Can I open a Demat Account and what are the charges applicable?

 

Yes, for IDBI Bank Salary Account customers we waive the first year AMC fees.

 

 

Q17

What if I resign from the organization?

 

In case you resign from the existing company, you need to discontinue the zero-balance Corporate Salary account and convert the account into a Super Savings Account to continue enjoying the Bank's product and services at the applicable service charges. Click here to view the facilities provided in Super Savings Account.


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