Payroll service is a type of service that allows business owner, company or institution to manage and prepare Payroll for their staff through LOLC (Cambodia) Plc. Payroll transactions are made through transferring cash from main account of the company or institution to the employee’s account opened at LOLC at the same time rather than withdrawing cash directly from the company or institution.
• Convenience for customer
• Secured and save time
• Can process payroll to staff at all branches nationwide
• Can use other LOLC services
• Salary will be transferred to each staff account opened with LOLC
• Free of charge for all staff
• Receive high interest rates on the actual balances in your account
• Receive LOLC ATM card that can perform transaction with ATMs and POS machines of CSS members with free of charge.
• Can use mobile banking service (iPay Cambodia) that can perform any transactions including money transfer, opening Fixed Deposit, bill payment, mobile top-up, loan payment, etc..
|Currency Type||KHR or USD|
|Number of Staff||> 05|
|Fee Charge Per Transaction||KHR 1,000 or USD 0.25|
To register LOLC Payroll Service, customer is required:
• Register and fill in Payroll Service Request/Amendment Application Form at any LOLC branches.
• For the companies or institutions are required to have at least 5 Staffs.
• Have an active or open an account (Savings Account or Digital Savings Account) with LOLC (staff and company or institution).
• For company or institutions, both individual and joint accounts are allowed (for joint account only mode of operation Any One Of Us is allowed).
• For staff, only individual account is allowed and the mode of operation must be Single.
• Ensure there is sufficient balance in main account before transferring salary to each employee account.
• Require relevant documents following each customer type (Individual customers and legal entities).