Sicoob Salary Account – Learn about the benefits and requirements
The Sicoob Salary Account offers your employer great convenience and you, numerous benefits.
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But what exactly is a salary account?
Well, this is an account option opened solely by the employer in order to make monthly payments to their employees.
Therefore, only the company you work for can make deposits into this type of account.
In addition to salary, the account is used to receive wages, retirement benefits, pensions, and other payments.
Continue reading to learn about the advantages of this option.
Benefits of the Sicoob Salary Account
First of all, be aware that you will have access to the entire service network and can make withdrawals at Banco 24 Horas ATMs.
Likewise, you have access to a debit card to make purchases at affiliated establishments.
You can also use a single check or card, with the option of issuing a wire transfer.
But, be aware of some rules for this type of account:
Initially, open the account in your name; joint accounts are not permitted.
You can also transfer funds from your Sicoob Salary Account to a checking account.
But for this to work, it's essential that you are one of the account holders.
Likewise, the account can be linked to a single employer, and the lack of credit from the paying source for an uninterrupted period of six months may result in the closure of the salary account due to inactivity.
Rates
Service charges may apply in some situations.
For example, the cooperative provides the magnetic card, except in cases of replacement due to damage, theft, loss, and other reasons beyond the control of the financial institution.
Similarly, up to 5 withdrawals are free with the Sicoob Salary Account.
Therefore, starting with the 6th visit, you have to pay the fee.
It also gives you access to at least 2 monthly balance inquiries and 2 statements at self-service terminals in any Sicoob cooperative.
In addition, you can check your balance and receive statements at the teller window of the cooperative responsible for opening your salary account.
Finally, there may be a charge for account maintenance.
In this regard, find out more information and details by contacting one of your cooperative's representatives.
What is salary portability?
By choosing portability, your salary is automatically transferred from your Sicoob Salary Account to your Sicoob checking account or to another financial institution of your choice.
Therefore, you should request it from the institution that receives or wishes to receive it, always in writing or using the app.
However, keep in mind that the account to which your salary will be sent must be in your name.
As a result, companies do not charge any fees for offering this type of service.
