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When onboarding, does deel create new salary account for full time employees?

amit
Weekender II

Or would rather provide employment documents that can be used to open.

The reason to ask this is that bank-employer collaborations differs and this relationship can offers benefit-rich features on different banking aspects based on the nature of relationship.

In case it deel does not provide this and one has to open it himself, what are the best ways that community members has used to get max benefits.

1 ACCEPTED SOLUTION

daryldy
Community Manager

Hi @amit 

I believe I understand now. For this, Deel only provides certificate of employment and the contract. These can be required by banks to open an account. We do not maintain relationships with any specific banks in India so the requirements may differ from bank to bank. We also support other withdrawal options such as Deel Card, crypto wallets, PayPal, and more depending on location. 

Best,
Daryl

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3 REPLIES 3

daryldy
Community Manager

Hi @amit 

Please let me know if I got this correct, you're asking if Deel creates a new account for a contractor when they become a full time employee?

Deel has resources that guides employers that would like to convert their contractor into a full time employee including what they would need to consider when doing this. The contractor would use the same account and the experience would be seamless on the account holder's end. The only difference would be the access to the benefits UI on the platform itself. If you have an employer who would like to do this for an employee, let us know and we can connect them to an agent who would be happy to walk them through the process. You can find more details here. 🙂 Let me know if you have more questions.

Best,
Daryl

amit
Weekender II

Query is not related to freelancing or transition to full time.

For simplicity, lets assume that a fresher is connecting to an employer via Deel. The fresher does not have any salary account till now. Does deel has some collaboration with an Indian bank or will only provide related documents that can be used to create new salary account.I wanted to know if Deel initiates a new salary account opening with any indian bank in such cases, like how traditional (non-EOR) companies open for employees when they join them.

This is not an issue, but I was just curious if something like this exists.

daryldy
Community Manager

Hi @amit 

I believe I understand now. For this, Deel only provides certificate of employment and the contract. These can be required by banks to open an account. We do not maintain relationships with any specific banks in India so the requirements may differ from bank to bank. We also support other withdrawal options such as Deel Card, crypto wallets, PayPal, and more depending on location. 

Best,
Daryl