It is possible to setup a savings Transaction Code that could be used to deduct savings amounts on behalf of employees.
See this link for more information on how to setup a Savings Transaction Code, Process transactions, view reports and process withdrawals.
Longer term savings schemes should, ideally, be handled by a reputable financial institution where funds are deposited under each employee's name. If the organization keeps the funds itself then there are very real risks attached.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article