Direct Deposit in Zoho Payroll expands with HSBC integration

Zoho-Payroll-HSBC-Direct-Deposit-Integration

At Zoho Payroll, we continuously work with our customers and partners to make payroll processing easy and straightforward. Many of our customers love the integrated banking feature that lets them pay salaries directly from the Zoho Payroll app, so we are constantly expanding this feature by adding more integrations with popular banks in India.

This time, we’re glad to introduce HSBC Direct Deposit. Employers who have a corporate HSBC bank account can integrate it with Zoho Payroll and transfer salaries directly.

The conventional salary payout process is long, complicated, and error-prone. Payroll and finance teams need to work together to create formatted bank statements that must be filled in manually and then uploaded to bank portals to initiate the salary transfer.

Flowchart-Salarypayment-with-Conventional-process

Simplifying salary payments with Zoho Payroll’s Direct Deposit integrations

With Zoho Payroll’s Direct Deposit integrations, you can transfer salaries directly to employee bank accounts without having to go through the manual process of compiling bank statements. The HSBC Direct Deposit Integration is our third offering after the integrations with ICICI Bank and YES Bank.

Apart from making the salary payment process easier, the Direct Deposit feature also ensures that salaries are transferred accurately and on schedule. Your employees’ sense of job security is reinforced when their salary is sent to their bank accounts regularly, on time, and without any delays or errors.

How does HSBC Direct Deposit work? 

Refer to this help document to learn how to set up the HSBC Direct Deposit. Once you’ve set up the integration, the salary transfer process becomes instantaneous. When you want to pay employees through HSBC, here’s how it works:

  1. Approve a pay run and click ‘Initiate Payment’
  2. Enter Secret PIN
  3. Click ‘Make Payment’
  4. Authorize payment in HSBC portal

After the payment is authorized, salaries are transferred immediately. In four simple steps, the calculated net salaries from Zoho Payroll reach the bank accounts of employees in a matter of minutes.

This video explains how to set up the integration and deposit salaries.

Make payroll processing simple 

Zoho Payroll is built to simplify and automate payroll processing for businesses of all sizes. Right from onboarding employees and collecting payroll inputs to calculating salaries and paying your people, Zoho Payroll supports your entire payroll process from start to finish.

If you haven’t tried Zoho Payroll yet, take a 30-day free trial and explore the app. You can also request a demo, where we will address your specific business requirements. We’d be happy to help you personally.

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