The Salary Payment Mechanism System reform (salaries settlement project)
In order to organize electronic payment operations and supporting the salary settlement project and ensuring the provision of the best banking services at the most appropriate prices and not violating the rights of the beneficiaries of the above project, it was decided to oblige the banks participating in the salary settlement project to:
1. The validity period of the electronic payment card that will be issued for the benefit of the customers benefiting from the salary settlement project is (3) years as a minimum.2. The text message service (SMS) is optional and the spending authorities are notified of the amount and time of deduction and the written consent of the last beneficiary (employee/retired) is obtained.
3. The commissions imposed on all clients benefiting from the salary settlement project are as shown below:
a - The account management commission and the salary commission combined with a maximum limit of (2,000) (two thousand Iraqi dinars) per month.
b - The issuing of the electronic payment card commission (issue for the first time) with a maximum limit of (15,000) (fifteen thousand Iraqi dinars).
c- The reissuing of the card commission (damaged or lost) with a maximum limit of (25,000) (twenty-five thousand Iraqi dinars).
d - The renewing of the issuance of the electronic payment card after its expiry date with a maximum limit of (15,000) (fifteen thousand Iraqi dinars).
The above shall be adhered to and implemented as of 1/1/2023, and all spending agencies are informed of that.
