Wages Protection System (WPS) services at Lari Exchange is a complete payroll solution for corporate entities and their employees, Individuals, and their domestic helpers fully compliant with UAEWPS implemented by the Ministry of Human Resources and Emiratization in conjunction with the Central Bank of the UAE (CBUAE). This Key Facts Statement (KFS) provides you with key features and indicative information, including fees & charges.
Product Details
| Description |
Lari Exchange offers the service by uploading the Salary Information File (SIF) to UAEWPS and processes the salaries to customers' cards upon receipt of the Payment Information File (PIF) from the Central Bank of the UAE (CBUAE). The UAEWPS is implemented by the Central Bank of the UAE (CBUAE) to provide a safe, secure, efficient, and robust mechanism to streamline the timely payment of wages to employees and domestic helpers. |
| Eligibility |
Employees: Every individual working within the private sector for agreed-upon wages and holding a labor card issued by the Ministry.
Employers: Anyone who owns a company or institution registered with the Ministry and employing one or more workers in return for agreed-upon wage.
|
| Transaction Currency |
AED |
Key Features
- Salary Credit to Bank account
- Salary Credit to Lari salary card (Paymax Card)
Value Added Benefits
- Fully compliant with UAEWPS.
- Timely salary transfer that can be withdrawn at Lari CDM networks with nearest 10 denominations.
- Worldwide card acceptance at shopping malls, restaurants and any other POS ATMs displaying MasterCard Logo.
- Receive credit/debit SMS and online balance enquiry.
- Check balances and transactions through Mobile App.
- Can facilitate Wages Protection Service (WPS) in all Emirates and approved Free Zones by the Central bank of the UAE (CBUAE).
- Bilingual customer support.
Key Fees and Charges
| Description |
Fees (AED) |
| WPS Registration |
50.00 |
| Fund Transfer |
10.00 |
| SIF Transfer |
10.00 |
| Salary Disbursement fee – Lari (per employee) |
5.00 |
| Salary Disbursement fee – Non-Lari (per employee) |
5.00 |
| Payroll Card |
10.00 |
- The above fees and charges are indicative and exclusive of VAT. Please visit our website for updated fees and charges.
Additional Information
- There is no cooling period applicable in Wages Protection Service (WPS).
- All charges by Employer only.
- Lari Exchange reserves the right to amend the special features and Terms and Conditions for our products and services (including partially or fully) with or without notifications.
- Lari Exchange reserves the right to withdraw or suspend the product as a whole or any of the features partially for whatsoever reason deemed fit or any other mandatory guidelines when the circumstances arise.
Warning
- It is the responsibility of the Corporate to provide accurate information for processing the Salary accurately. In case of incorrect or incomplete information, there are chances for delays or rejection of Salary from the UAEWPS.
- Lari Exchange has the right to hold the transaction in case additional requirements/information are required.
- ATM salary cards will be delivered to the respective cardholders only.
- In case the company has provided the incorrect account number or Employee ID RFR has to be processed, the amount will be refunded subject to the availability of funds in the account.
- For complaints and suggestions please contact us on +97126223228 and/or support@lariexchange.com.