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#421023 - 09/12/05 02:50 PM Employee benefits
THSCPA Offline
100 Club
Joined: Sep 2004
Posts: 113
New York
We are reviewing our personnel policy and trying to determine what benefits to give employees. Currently we give them a free checking account, free checks, a small loan rate decr. Do other Banks give more than this to employees? Or is this pretty standard? Thanks

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Human Resources
#421024 - 09/12/05 03:01 PM Re: Employee benefits
Anonymous
Unregistered

No origination fee on Mortgage Loan (1st time)
Reduced oringination fee on Mortgage Loan (2nd...nth time)
Reduced interest rate Bank Card aand other consumer loans
Free Safe Deposit Box rental
Free Cashiers checks
Free notary service

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#421025 - 10/03/05 02:54 PM Re: Employee benefits
Anonymous
Unregistered

diff anon, has anyone waive stop payment free for employees?

I believe this is ok, no compliance issues.
Any thoughts?

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#421026 - 10/03/05 04:44 PM Re: Employee benefits
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
There's no compliance problem with a waiver of stop payment fees for an employee. You might find that it could be abused if the employee tries to manage overdrafts by using stop orders, however.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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#421027 - 10/03/05 05:11 PM Re: Employee benefits
Anonymous
Unregistered

Thank you sir!

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#421028 - 10/04/05 01:13 AM Re: Employee benefits
Anonymous
Unregistered

My employer waives stop pay fees for employees, BUT it has (though rarely) been abused. When the stop payment clerk brought the abuse to her supervisor's attention, the person was spoken to, and the abuse stopped.

My bank also waives the fee for traveler's checks. I doubt I would use them otherwise, but when there's no fee, they can be very convenient.

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#421029 - 10/06/05 05:59 PM Re: Employee benefits
Anonymous
Unregistered

I really do work for a wonderful company. Our president really tries to make us happy working here. We have the standard free checks, safety deposit boxes, mos and ccs etc...

But we also have many other extras:
Stakeholders bonus paid to employees at the end of the year if they met their goals (and it really is good. The lowest we've gotten was 7 % of our salary)
paid YMCA memberships
free flu shots
quarterly gift
annual holiday party
Your birthday off - paid
A paid day off during the Holiday season to go shopping
Tuition reimbursement
Students get paid/rewarded for good grades a 4.0 is $200 and a 3.0 is $100
Every month everyone who's anniversary is in that month goes out to a really good lunch with our president

Those are just the ones off the top of my head. Sometimes though, I wish we could trade all that stuff in for hirer salaries! But it is a decent trade off I think!

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