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Including the freedom to choose the bank and withdraw the salary for “free”... “My Account” features for the salaries of the region’s employees
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2024-05-07 06:25
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Shafaq News / On Tuesday, the Media and Information Department of the Kurdistan Regional Government issued a clarification about the features of the “My Account” features for the salaries of the region’s employees, stressing that the employee has the freedom to choose the bank he wants to transfer his salary to, and that there are no service payment fees for withdrawing the salary as it is. Applies to the rest of the accounts.
The Information Department explained, in a written statement to Shafaq News Agency, the characteristics that distinguish the “My Account” project from the “Settlement” project, which came as follows:
freedom of choice
The “My Account” project allows the employee the freedom to choose the bank in which he wishes to open his account, while in the “Nationalization” project, a specific bank is determined for the employee according to an agreement between the ministry, the accounting unit, and the bank.
Participating banks
6 private banks participate in the “My Account” project, while 5 public banks belonging to the state and 38 private banks participate in the “Nationalization” project.
Withdraw money
The “My Account” project provides a free money withdrawal service to employees, in the event that the employee withdraws his financial dues from the ATM of the chosen bank, while this service is provided in the “Settlement” project for a fee of up to 6,000 dinars per million Iraqi dinars in the event of withdrawal from port agents. And 4,000 dinars for every million dinars in the event of a withdrawal from an ATM.
Opening an account in the “My Account” project is free, while in the “Settlement” project it costs an amount of 25 thousand Iraqi dinars or more, depending on the bank chosen.
Service fees
In the “My Account” project, the fees for services such as SMS notifications and mobile banking applications amount to only 2,500 Iraqi dinars, while in the “Settlement” project, the prices for these services range from 2,000 to 10,000 dinars.
Card type
Regarding the type of card, the “My Account” project works with the “Debit Card” system, which can be used outside the country. As for the cards approved in the “Nationalization” project, they are usually what is called the “salary card” and are not linked to any other bank account.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2024-05-07 06:25
Share
Font
Shafaq News / On Tuesday, the Media and Information Department of the Kurdistan Regional Government issued a clarification about the features of the “My Account” features for the salaries of the region’s employees, stressing that the employee has the freedom to choose the bank he wants to transfer his salary to, and that there are no service payment fees for withdrawing the salary as it is. Applies to the rest of the accounts.
The Information Department explained, in a written statement to Shafaq News Agency, the characteristics that distinguish the “My Account” project from the “Settlement” project, which came as follows:
freedom of choice
The “My Account” project allows the employee the freedom to choose the bank in which he wishes to open his account, while in the “Nationalization” project, a specific bank is determined for the employee according to an agreement between the ministry, the accounting unit, and the bank.
Participating banks
6 private banks participate in the “My Account” project, while 5 public banks belonging to the state and 38 private banks participate in the “Nationalization” project.
Withdraw money
The “My Account” project provides a free money withdrawal service to employees, in the event that the employee withdraws his financial dues from the ATM of the chosen bank, while this service is provided in the “Settlement” project for a fee of up to 6,000 dinars per million Iraqi dinars in the event of withdrawal from port agents. And 4,000 dinars for every million dinars in the event of a withdrawal from an ATM.
Opening an account in the “My Account” project is free, while in the “Settlement” project it costs an amount of 25 thousand Iraqi dinars or more, depending on the bank chosen.
Service fees
In the “My Account” project, the fees for services such as SMS notifications and mobile banking applications amount to only 2,500 Iraqi dinars, while in the “Settlement” project, the prices for these services range from 2,000 to 10,000 dinars.
Card type
Regarding the type of card, the “My Account” project works with the “Debit Card” system, which can be used outside the country. As for the cards approved in the “Nationalization” project, they are usually what is called the “salary card” and are not linked to any other bank account.
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