How to Open a Payit Plus Account?

  • April 15, 2024
  • 03:15 Minutes


Opening a UAE bank account isn’t straightforward since it requires a minimum AED 5k monthly salary. It means those who earn less than AED 5k per month will have to wait for their salaries to be deposited through the WPS system and withdraw their salary from a dedicated kiosk or exchange house by physically visiting there.

This has posed some critical challenges for employees to open a salary account in the UAE, leaving them unbanked and unable to avail of many digital banking services.

However, the advent of Payit Plus brings a revolutionary solution, offering employees the ease of receiving salaries in their mobile wallet. Let’s see what it is and how to open a Payit Plus account.

What is Payit Plus

Payit Plus introduces a groundbreaking alternative to the WPS method, providing employees with a Payit Plus account. This account enables direct salary deposits into the mobile wallet account within the app. Thus, employers can meet their WPS guidelines and pay their employees instantly.

The employees have their own account within the Payit digital wallet app that they can use to receive their salaries, make bill payments, recharge phones, and transfer money internationally.

Why Should You Have a Payit Plus Account?

A significant benefit of opening a Payit Plus account is that it doesn’t require employees to earn a minimum salary, and it doesn’t charge any account management fees from the employees.

Instant Salary Deposit

With Payit Plus, you can instantly receive salaries without delays or uncertainties, ensuring timely payments.

Faster Onboarding

Payit Plus ensures swift and hassle-free onboarding for employees, making registration onto the platform quick and seamless. This user-centric approach aims to eliminate any potential barriers during the onboarding process.

No Minimum Balance Requirement

You don’t need to maintain a minimum monthly balance for Payit Plus accounts, ensuring the accessibility of the financial management.

No Account Service Fees

You aren’t charged for Payit Plus account services, meaning you don’t need to pay fees to receive e-statements, transactions, and account balance alerts.

Payment Management

You can efficiently manage payments directly through the Payit Plus account. This feature consolidates all financial transactions within one platform, giving users a centralised and organised view of their payment activities.

Cash Withdrawal Facility

Payit Plus allows you to access cash withdrawal facilities using the app. You can withdraw cash from any FAB ATM near you.

Comprehensive Mobile Wallet Experience

Seamlessly recharge SIM cards and transportation cards within the app, enhancing the overall mobile wallet experience. Payit Plus goes beyond salary management, offering a one-stop solution for various financial needs.

Shopping Deals and Offers

You get access to multiple shopping deals and offers, making your Payit Plus shopping experience invaluable with discounted prices.

Faster International Money Transfer

Facilitate faster international money transfers, expanding financial capabilities globally. You can send your salaries to your hometown to more than 200 countries globally at a highly competitive rate.

eGift Card and Vouchers

You can also send eGift vouchers internationally and eGift cards locally to your friends and family, making gifting accessible with just a tap on your phone.

How to Open a Payit Plus Account?

Payit Plus | Open a Payit Plus Account Using Account Number and Mobile Number | EN

  1. Download the Payit Wallet app and click ‘Sign Up’.
  2. Upload the front and back sides of your Emirates ID.
  3. Complete the facial recognition and liveliness check.
  4. Fill in the risk rating and FATCA-CRS questionnaire as part of the KYC process.
  5. Your Payit Plus Account is ready to use.

Once you complete the NFC validation, the Payit app converts you to the ‘Full KYC Salary Segment’.

The Bottom Line

Now, you can have your own digital account in an app on your phone without any minimum salary constraint and enjoy certain digital banking services with Payit Plus. This innovative solution addresses the challenges of opening a salary account and empowers employees with a comprehensive mobile wallet experience, redefining financial accessibility for all.

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