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IPS Program

Loyal Bank’s new International Payroll Service (IPS) is the perfect solution for large companies with global payrolls or commissions to distribute and who need to pay constantly moving staff regularly. IPS enables employers to offer employees prepaid cards, a cost-effective, secure alternative to cash and cheques. IPS offers employers distinct advantages, including low cost, speed, the ability to issue debit cards instantly and the option of personalisation with the IPS Program name.

The IPS Program Card is a significantly easier way to manage payroll, particularly for industries where there is a high employee turnover or employees are transient workers or receive irregular (or small) payments. Employees often choose a Payroll Card because they do not have a bank account for direct deposits. A credit check or existing banking relationship is not required for an employee to receive a payroll card.

How to join IPS

  • Fill out the email request at the bottom of this page

  • Request an application form by email

  • Complete the application form with help of our dedicated relationship manager

  • Negotiate fees and tariffs of the IPS Partnership Program

  • Start full corporate account application process with your IPS Manager

  • Obtain approval of your IPS Partnership Application

  • Obtain secure access to internet banking through NetBank

  • Begin registering employees

  • Option for the right to certify your own employee identity documents instead of notarisation

Enrolling and funding employee’s IPS Cards is simple and secure. Once part of the IPS program the employer needs only to register each employee to the program and provide the required due diligence documents: fees and delays from cashing cheques and international wire transfers are entirely eliminated.

IPS cards offer numerous safety features, such as convenient POS and cash access; expedient replacement of lost/stolen cards and 24/7 multilingual cardholder support by telephone, Skype and e-mail.

The employee is only able to spend what funds are loaded on the card and so can track their own spending without overdraft fees and additional charges.

Time saving benefits of being an IPS Partner include:

  • Significant reduction in the time used to complete and fund wire transfers

  • The ability to access mass money transfer opportunities through NetBank

  • The ability to issue cards instantly at time of employee hire

  • The ability to offer employees access to available funds immediately

Employer Benefits

  • Ability to provide employees with cards immediately at time of hire (instant issue)

  • Cards can be personalized with the name of the company

  • Easy to implement solution for existing payroll services

  • IPS Partner support with educational marketing materials, multilingual Customer Service available, and a Key Account Manager to assist the company

  • Issuing a prepaid card is a cheaper way of transferring funds worldwide

  • Minimize cost, reducing payroll administration and paperwork

  • No limit on the number of members receiving funds

  • Reduces fraud losses associated with paper pay cheques

  • Transfer funds to employees instantly (as needed)

  • Transfer funds worldwide easily and securely through the Loyal Bank NetBank

How to apply

  • 1. Step

    Register interest for program (see below)

  • 2. Step

    Complete & submit the application form

  • 3. Step

    Negotiate fees & tariffs

  • 4. Step

    Open a corporate account at Loyal Bank*

  • 5. Step

    Receive Approval of IPS Partnership Application

  • 6. Step

    Open & fund a program account*

  • 7. Step

    Set-up IPS conditions

*Current Loyal Bank corporate account holders do not need to open a new corporate account but existing due diligence will be checked and may require updating. Each IPS Partner application will require the opening and funding of a new program account. All corporate account holders can apply for the IPS Program.

WHO IS IPS RECOMMENDED FOR?

IPS Partnership or participation in the IPS Card Program is recommended for business entities who are looking for a global solution to pay employees regularly and in a cheap, easy and quick manner.

The IPS Program is recommended for the following businesses:

Aviation and shipping crews and staff

Aviation and shipping crews and staff

Clubs (business clubs, frequent traveler’s clubs, etc.)

Clubs (business clubs, frequent traveler’s clubs, etc.)

Construction companies' staff

Construction companies' staff

Direct selling/ multi-level marketing services

Direct selling/ multi-level marketing services

Film and entertainment staff

Film and entertainment staff

Freelancers in IT, Media, Journalism, etc.

Freelancers in IT, Media, Journalism, etc.

Highly mobile contract staff or employees

Highly mobile contract staff or employees

Investment / Brokerage houses

Investment / Brokerage houses

IPSP (Internet Payment Service Providers)

IPSP (Internet Payment Service Providers)

Logistic companies and cruise lines

Logistic companies and cruise lines

Oil / gas exploration and field staff

Oil / gas exploration and field staff

Payroll distribution companies

Payroll distribution companies

Remittance companies

Remittance companies

All IPS Partner employees or contracted employees are eligible to participate in the IPS Program. Certain criteria must be met for each individual.

Each must:

  • be at least 18 years old

  • have completed the IPS Card application form

  • have provided LBL with a valid ID and copy of a utility bill copy, which is notarized or certified in some other acceptable way

  • not be citizens or permanent resident of any countries subject to OFAC, OECD, UN, UK and EU sanctions

  • not be citizens of St. Vincent and the Grenadines

Employee Benefits

  • Benefits of an international MasterCard bank card at a low cost

  • Anyone can obtain a card as no bank account or previous credit history is required

  • Flexibility to pay for goods and services globally (MasterCard bank cards are accepted at 29 million locations, online & at 1.9 million ATMs)

  • Ability to manage finances in Loyal Bank’s NetBank

  • Helps keeps track of spending

  • Provides greater security for the cardholders’ funds

  • Immediate access to pay on payday – no more waiting for pay cheques to clear

  • Safer than carrying cash & eliminates need to carry large sums of cash

  • Easy to apply for it – just talk to your employer

How to apply Process

  • 1. Step

    Ask employer for information about IPS

  • 2. Step

    Ask employer to register for program if not part of it already

  • 3. Step

    Collect card from employer (providing necessary due diligence)

  • 4. Step

    Activate your card through NetBank

  • 5. Step

    Start using your IPS Card for shopping, paying bills & withdrawing cash

Contact Us

Please contact us to find out more

Europe, Asia, Eastern Hemosphere

Europe, Asia, Eastern Hemosphere

Rippl Rónai Street 1.
Budapest H-1068
Hungary

Tel: +36 1 273 3700
or +36 1 273 3702
Fax: +36 1 221 5745
E-mail: IPSpartnership@loyalbank.com

North and South America and the Caribbeean

North and South America and the Caribbeean

Cedar Hill Crest Villa Kingstown
VC 0100 St Vincent and the Grenadines
P.O. Box 1825

Tel: +1 784 485 6705
Fax: +1 784 451 2757
E-mail: IPSpartnership@loyalbank.com

Hungary

24/7 Customer Services*

E-mail: IPScustomerservice@loyalbank.com
Skype: loyalbankcustomerservice

Tel: +36 1 383 0853
or +1 234 738 1990
Fax: +36 1 469 4066

*Please note that our Customer Service Centre only offers MasterCard emergency card services (bankcard stoppage and replacement exclusively) between 22:00 and 07:00 CET on weekdays and all day Saturday, Sunday and public holidays.

Let us tell you more

If you would like to register your interest in IPS please complete this form and we will respond directly.