CIBC FirstCaribbean can act as an agent for employers by performing payroll services. Salary deposits will be made directly to employee accounts held at CIBC FirstCaribbean or other banks.
- No need to process individual employee salaries
- Physical delivery of payroll listing or file can be eliminated
- Reduces amount of paper generated
- Save on cost of cheques and stamp duty
- Maintain salary confidentiality
- Faster reconciliation of account statements
- Employee can make withdrawals on personal time through the Instant Teller
- Internal payroll reports can be generated
- Security - All features are encrypted to ensure information security
- Convenience - E-Pay users can submit a single file from their office, to make payments to beneficiaries' accounts at any bank
- Cost savings - using E-Pay reduces administration and transaction costs associated with payment through cheques, paper vouchers and cash
- Time savings - E-Pay offers faster payroll payment and processing
Contact us or call your Relationship Manager for more details.