Wages Protection System:
Wages Protection System (WPS) is an electronic salary transfer system that allows institutions to pay worker’s wages through approved and authorized agents approved by Central Bank of UAE, consisting of Banks, Money Exchanges and Financial Institutions.
The system, developed by the Central Bank of the UAE, allows the Ministry of Labour to create a database that records wage payments in the private sector to guarantee the timely and full payment of agreed-upon wages.
* More than 32,500/ Satisfied Clients
- As on 31.12.2019 GCC Exchange has more than 32,500 satisfied clients / establishments and as many as 294,033 employees utilising its quick and efficient services.
- One of the first exchange houses to provide a card aptly named Tankhwa, offering a hassle free solution for disbursement of salary.
- Ten ATM’s installed at the branches for effortless and seamless disbursement of salary.
Tankhwa Card – Benefits
- Low joining fee and processing charges.
- Timely and efficient processing of wages at any of our branch ATM’s across the UAE.
- Credit accorded to any bank account in UAE.
- Every employee of the entity registered with us can enjoy AED 6/- Transaction Fee on their first bank transfer for the particular month.
- Company Trade License copy
- Local Sponsor Passport Copy and Emirates ID
- Passport Copy and Emirates ID of Company Owner /Partner/ Manager
- MOL (Signature card) card copy
- Emirates id copy of all employee with mobile numbers
- Employees list
- Passport Copy and Visa Page of each Employee
WPS Service Charges
- Registration Fee - AED 105/-
- Processing Fee - AED 8 per month per employee.
- ATM Card charges- One time - AED 6