Designed for organizations to streamline employee account opening and digital disbursements of salaries in an efficient manner
Faysal@Work is a customized employee banking solution based on the Shariah compliant Islamic principle. Primarily intended to meet the financial needs of the organizations and their employees by facilitating the opening of employee accounts and digital wage disbursement. An innovative offer that makes bulk account opening simple and requires minimum documentation, appropriate for both small and large organizations. A simplified payroll solution that provides employees with comprehensive banking facilities at their doorsteps.
Product Variants
Islamic Payroll Current Account
Islamic Payroll Remunerative Current Account
Islamic Payroll Saving Account
Islamic Payroll Amal Women Account
Features
Following are the free features to be provided.
Debit Card Issuance with No Annual Fee
Pay Order Issuance
Takaful Coverage for Faysal @Work Customers
Cheque Book (25 Leaves)
E-Statement facility
Internet & Mobile Banking
Duplicate Bank Statements
SMS alerts for all transactions
Inter-bank Funds Transfer
Cash withdrawals from any bank’s ATM nationwide
Employer’s Benefits
Tailored Payroll Solution
Bulk account Opening
Seamless Salary Disbursal – payments through online portal
Dedicated Relationship/Branch Manager and service desk to address the queries.
Free insurance offerings for eligible employees
Employee Benefits
No minimum balance required
Hassle-free account opening and activation with no need to visit the branch.
Free account services (deposits, withdrawals, SMS alerts, internet, and mobile banking).
Access to Retail and Consumer banking products.
Avail exclusive discounts on FBL’s debit & Noor card at over 100 retail establishments in Pakistan, gain access to CIP lounges and with timely deposits can avail preferential rates.
Takaful Coverage
Faysal @Work customers maintaining a YTD average balance of PKR 10,000 for a month will be eligible for Takaful coverage in the next month. The coverage facility will lapse if the YTD average balance falls below the eligibility criteria in any month. To re-enroll, the customer must maintain the minimum YTD average balance.
Below are the coverage benefits:
Benefits
Amount
ATM Cash Withdrawal
PKR 50,000
Loss of Mobile Phone
PKR 15,000
Personal Accident
PKR 200,000
Loss of Identification Documents
PKR 5,000
Utility Bill (Up to 12 Months for Natural+ Accidental Death)
PKR 10,000
Grocery Bill (Up to 12 Months for Natural & Accidental Death)
PKR 30,000
Takaful Coverage – Online Doctor Consultation and discounts
To facilitate our valued customers, Faysal Bank has partnered with an online healthcare service provider to provide online doctor consultation and discounts. An additional feature/benefit to the employee banking proposition is to transform the landscape for Faysal@Work Employee Banking customers by providing instant healthcare access to support their daily healthcare needs.
Benefits
Free Unlimited General Practitioner Consultation and Specialist Consultations (Client & Family)
GP & Specialists 5 Specialties
Discount on 25,000 + Doctors (Appointment Bookings)
Up to 20% Discount
Discounts on Lab tests and Medicine Deliveries* (Up to 40% discount on Lab & 10% discount on Medicine)
Discount on Surgeries & Procedures (Minor & Major Surgeries, Aesthetics, Dental)
Covered
*Lab nearest to your location.
Payroll Account for Women
To cater to the growing portfolio of women accounts under Faysal@Work, we would like to introduce payroll women account proposition for payroll accounts which will be based on the principle of “Mudarabah”.
Said Account will be opened and operated under the Shariah principle of “Mudarabah”. Mudarabah is a kind of partnership where one partner provides the funds which is called “Rabb-ul-Maal” (Owner of funds) and the other partner provides services which is called “Mudarib” (Manager of Funds).
However, to qualify for Amal benefits in the following month, customers must maintain an average balance of PKR 25,000 (YTD) throughout the current month. If the YTD average balance drops below this threshold at any point during the month, eligibility for the benefits will be forfeited. Customers can regain eligibility by ensuring their YTD average balance remains at or above the minimum requirement.
The following features will be offered to the women salaried class along with the other employee banking features:
