‘Ural Treasures Bank has been working with various businesses in the field of salary schemes for several years now. The schemes were primarily designed in such a way as to be affordable for businesses (that is, the employers) and convenient and advantageous for the bank card users (that is, the employees who’d get their salaries transferred into these bank card accounts),’ Ural Treasures Bank’s department director Maria Eremeeva said to UrBC.

The executive reports the commission the bank takes for transferring people’s salaries into the bank card accounts is only a third of what is charged for providing a company with cash to pay their workers with. In addition, the salary schemes provide for a monthly interest calculated on the basis of what is left in one’s bank card account. Moreover, an overdraft option is offered as well.

‘I believe we were able to take care of all the parties’ interests. Firstly, the bank gets a chance to establish a long-term partnership with a business and builds up on the number of potential private customers. Secondly, the businesses cut down on their outgoings as well as save time when it comes to the salary-paying routines. Thirdly, the plastic card users can make an additional profit in the form of interest and are welcome to use the overdraft option (the amount comes to a worker’s two monthly salaries),’ Maria Eremeeva explained.

‘Ural Treasures Bank is trying to think up the ways of the salary schemes’ further development at the moment. After the bank has joined one of Russia’s largest ATM networks, some new opportunities of expansion and building up on the client base emerged,’ she added.