Is a pension card or a payroll card considered a prepaid card? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Is a pension card or a payroll card considered a prepaid card?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

In many cases, yes. Most companies and government entities issue their employees prepaid Meeza / payroll cards so the salary is transferred directly onto them, without needing to open current accounts for the employees, in order to save on charges.

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