TAKE CARE WHEN CHANGING YOUR PAY POINT
want to change your pay point, please don’t rush in closing your current bank account because you have opened another one elsewhere and sent the necessary documents to the employer. This is what is likely to happen when you rush things:
✓The changes may not be captured in good time and your Salary will be sent to the now closed account.
✓Your salary will be returned back to TSC and this is the tricky part.
✓Your bank or Sacco will wire the money to it’s head office. Most banks have heads offices in Nairobi. From here, the bank will write a Cheque of your salary to TSC.
✓The cheque is banked and payment to your new account starts.
✓Note that often there are several accounting systems in retrieving your now hanging salary.
✓The branch where you closed an account have to do their reconciliation to discover your hanging salary and return it to their headquarters.
✓The headquarters also have to balance their books and write the cheque back to sender (employer). Please note that these operations are not an emergency.
So, next time you change your pay point don’t close your old account until your salary passes through the new one at least once.
NOW YOU KNOW.
