How do I load funds to my company's SALPay Corporate Wallet?

How do I load funds to my company's SALPay Corporate Wallet?

What is Prefunding?

Pre-funding is the process followed by a corporate client to fund their SALPay corporate wallet in order to disburse salaries to their employees/payees. It is done through deposits (cash or cheque) or online transfers to a SALPay bank account.  Processing times will vary depending on the bank account or payment method used.

Where do I deposit the amount needed for disbursement?


After arriving at the total amount to be funded on your SALPay Corporate Account, you can deposit or perform an online transfer to either Unionbank or BDO.

For faster approval of transactions, we recommend that you deposit directly to SALPay’s UnionBank account with the details listed below:





Account Name: Salarium Payments Corporation

Account Number: 0008 3001 4160

Submission of corporate balance funding requests (Load Funds) will strictly be up until 4 p.m. during business days.

Only cleared funds will be approved on the same day. See approval timeline below:


 Deposit Type

Processing Time 

Cash

2 to 3 working hours 

On-Us Check 

2 to 3 working hours 

Online Fund Transfer (UnionBank) 

2 to 3 working hours 

InstaPay

2 to 3 working hours 

PESONet

Subject to your bank's cutoff time

Interbank Check 

11 AM next working day 







Account Name: Salarium Payments Corporation

Account Number: 005-398-026616



Approval Conditions:


 Deposit Type

Processing Time 

BDO to BDO Cash Deposit

24 hours after cutoff*

BDO to BDO Check Deposit**

24 hours after cutoff *

BDO to BDO Online Fund Transfer

24 hours after cutoff *

Other Bank to BDO Check Deposit

Expected to clear 11a.m. the next day + 24 hours after cutoff

InstaPay

2 to 3 working hours + 24 hours after cutoff

PESONet

Subject to your bank's cutoff time + 24 hours after cutoff

* 24 Hours is required to process the transfer of funds from SALPay’s BDO account to SALPay’s UnionBank account. Cut off is every 2 p.m. during business days only. Deposits to BDO after 2PM will be processed the next day and will require another 24 hours for transfer to SALPay’s UnionBank pre-funding account. All deposits have to be cleared first prior to transfer for our treasury team to be able to approve your pre-funding requests.

** Verify clearing and cut-off times of check deposits directly with your bank and bank account branch.


To avoid inconvenience and delay in pre-funding approval, we encourage you to allocate ample time in consideration of the time-frames above and your desired date to disburse. We are preparing for new pre-funding channels to give you more convenience in the future.



What to do next after I have deposited the amount needed for disbursement?

Once the amount has been deposited and you have secured a Deposit Slip, follow these steps below
      1.  Go to business.salpay.com/login. Enter your mobile number and password to log in.
             


      2. From the dashboard, click on Add Funds. This is the easiest to be directed to the page where you can fill out the Add Funds request form.


      

      3. Accomplish each field, then attach an image of the Deposit Slip. Click on Submit.


            

            
Upon submission, wait for your request to be approved by our FinTech Treasury Team. Once approved, the request status will change from Pending to Approved. The amount you have added will now appear as Available Account Balance.


      
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