Send us your updated deductions register
Secure file upload for My Money Box Partners
To ensure the timely allocating of funds to individual member accounts, an updated deductions register (Excel) and remittance advice must accompany every bulk transfer of funds to Boom Community Bank.
Why payroll savings?
A report by the Financial Inclusion Centre funded by the Money and Pensions Service presents a worrying statistic that 22% of the population have under £100 in savings.
If households are to be financially resilient against economic and financial shocks, such as a loss of income or unexpected bills, they need a cushion of accessible savings.
Payroll savings encourages persistency in savings behaviours amongst employees and higher levels of satisfaction with their financial circumstances.
Launch a savings scheme
If you would like more information about starting a savings scheme in your organisation, please complete the form below and we’ll be in touch.