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Explanation of Employee Benefits
Card facility account
There are two reasons why it is necessary
to establish an Employee Benefits Card facility account
- To receive
a credit for any remaining balance in an employee's card account
where the card is terminated or the employee ceases employment;
and
- To act as an account from which amounts may be
swept if, in the rare incidence, the card expenditure limit is
exceeded by virtue of a manual merchant transaction that falls
below the limit that would otherwise be authorised by telephone.
If this should occur, the salary sacrifice agreement provides for
full recovery of any amounts spent.
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