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Answered 2011-01-23 06:56:05

A salary bank account or a salary account as it is more commonly called, is nothing but a regular bank account but one in which your employer will credit your monthly salary/paycheck every month. If you have a salary account with a bank, banks usually provide you with additional facilities like 0 balance account, credit cards, overdraft facilities etc.

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No. A person's salary can be paid only into a bank account that is held by the person to whom the salary is paid. For ex: if I work ABC company and get a monthly salary of USD $3000, the money can be credited only into a bank account that has my name as the account holder. It cannot be paid into your bank account.


Debit salary accountCredit cash / bank


In Salary Account 0 balance is allowed and in saving account minimum balance required


I am getting salary of aed 2750 per month. i want to know if i can open a salary account in dubai islamic bank


To write a letter to the bank for change to my salary account to a no frill account state what you would like done and why you would like it done to customer service.


The letter format to a bank manager asking them to convert a salary account into a savings account should be formal. Address the bank manager formally and then explain in detail the reason for the request. Include information about the account and when the changes need to be made.


You can go to any bank that you have a bank account with and ask for an overdraft account. Whether or not they give you an OD facility depends on the following factors: a. The type of bank account you have b. Your history with the bank c. Your monthly salary d. Whether your salary gets credited to this account e. Can you provide collateral like Fixed Deposit or Gold etc. The chances of getting an overdraft are significantly higher for people having a salary account and even higher for people who can provide collateral.



Usually banks offer zero balance bank accounts to customers who have salary accounts with them. I have a zero balance account with DBS and since DBS and POSB are part of the same group, I guess they too will have a zero account balance bank account. You need to submit this bank account to your employer and if they GIRO your salary to this account automatically every month, it should be fine.


Direct Deposit is a facility using which companies can credit the monthly paycheck or salary for their employees into their respective bank accounts. For example, my employer credits my salary on the 1st of every month into my bank account. All I have to do is submit a written request to my employer with the details of the bank account into which I want him to credit my monthly salary.



It depends on the following factors:The type of bank account you haveYour history with the bankYour monthly salaryWhether your salary gets credited to this accountCan you provide collateral like Fixed Deposit or Gold etc.The chances of getting an overdraft are significantly higher for people having a salary account and even higher for people who can provide collateral.


I think it is US $ 500 for a simple checking account. The bank would give you an ATM card and a check book for this account. However if you arrange to have a Direct Deposit (Your Monthly Salary/paycheck) into this account Bank of America waives this minimum balance requirement and you can have it as a Zero-Balance checking account.


To get an auto loan from a bank you need to give three months bank statements for your salary account along with many other documents. The salary is reviewed by the bank and then the loan amount is decided.


# Cash account to Bank account # Bank account to Cash account # Bank account to Bank account


It depends. It may be put directly into a bank account, handed to you in cash or a cheque, or you get in in the mail. I think.


I think it is US $ 500 for a simple checking account. The bank would give you an ATM card and a check book for this account. However if you arrange to have a Direct Deposit (Your Monthly Salary/paycheck) into this account Bank of America waives this minimum balance requirement and you can have it as a Zero-Balance checking account.


I think it is US $ 500 for a simple checking account. The bank would give you an ATM card and a check book for this account. However if you arrange to have a Direct Deposit (Your Monthly Salary/paycheck) into this account Bank of America waives this minimum balance requirement and you can have it as a Zero-Balance checking account.


Dear bank Transfer my salary to the other bank.


It is an arrangement by which one get regular payment like salary credited one's bank account.



debit salary expensecredit salary payable


ECS stands for Electronic Clearing System. It is the system by which money can be credited/debited from a bank account by a bank. Let us say you want to apply for a loan with ABC Bank, they will get the details of the bank with whom you already have an account and then ask you to fill up an ECS form using which ABC bank can debit (take out) the money due to them as part of the monthly loan repayment automatically from your account without you having to make a trip to the bank to deposit the money against your loan account. The same is applicable for salary credit into your account too. If you submit an ECS form to your employer with your bank details they can directly credit your salary every month without you having to receive a paper pay-check and deposit it into your account manually.


Bank account is very important now a days life due to following reasons. If you are employee then to get salary. If you go out city and need money you can get via ATM or your friend or family members can send you money on line in your bank account. So it makes your life so simple and you do not need to take money on large journey just have your ATM card of bank account.


No. Overdraft is a banking facility that is provided by many banks to their customers. The bank decides your overdraft limit and the limit depends on the following factors:The type of bank account you haveYour history with the bankYour monthly salaryWhether your salary gets credited to this accountCan you provide collateral like Fixed Deposit or Gold etc.?The chances of getting an overdraft are significantly higher for people having a salary account and even higher for people who can provide collateral.It is perfectly legal to get an overdraft facility and you cannot be jailed for getting it. However, if you don't repay the money you utilized as part of the overdraft you can be jailed for it.



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