Employees whose payroll accounts are with the Bank of the Philippine Islands (BPI) soon don’t have to wait for payday to receive their salaries.
The Ayala-owned lender is working on its newest service, “Salary On-Demand,” which allows employees to receive early salary credit without interest.
The amount advanced by the employee will be deducted from his or her upcoming paycheck.
A one-time fee of P175 will also be charged to the employee.
The Salary On-Demand service will be available through a different mobile app, BPI Head of Institutional Banking John-C Syquia said.