Why a Reimbursement Account is Necessary?

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Reimbursement accounts are offered to employees of corporates who already have a salary account with bank. If you already have an account with the bank, mention your Salary Account number and your Debit Card number on the account opening document so that your card and your salary account is linked to your reimbursement account.

Why a Reimbursement Account is Necessary?

After this one can request your company to directly credit cash payments to the Reimbursement Account.

This account is a Current Account with zero balance feature and no annual maintenance charges.

This account will enable convenient way of reconciliation both for the corporate and the employee.

It is linked to the primary Salary Account. The same ATM cum Debit Card issued to the Salary Account can be linked to Reimbursement Account.

Various Reimbursements other than salaries paid by the employees can be routed through this account.

While withdrawing cash from ATM, one can choose from either your salary account or your reimbursement account when withdrawing cash from HDFC Bank ATMs..

Your existing card will be linked to both accounts. At bank ATMs you will have the option of selecting either account for transacting. Maestro Debit Cardholders may be able to select between the Salary Account and Reimbursement Account at merchant locations.

Reimbursement Account is beneficial as it enables you to separate your regular monthly salary from the monthly reimbursements you receive from your company Which will help you in tracking your incomes.

As reimbursement account is a current account so it is a non-interest bearing account. Means, amount held in reimbursment account does not attract any interest.


Read more about: banking
Story first published: Tuesday, January 20, 2015, 9:54 [IST]
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