Eliminate cost involved in cheques printing and cost.
EDUPAY Student Card
Provide a comprehensive solution.
The Saudi Investment Bank offers EduPay Student Card especially tailored for universities to facilitate paying allowances to students electronically through the prepaid EduPay Student Card. The program is designed to provide a comprehensive solution that covers the end to end processes from uploading the students’ allowances and provide the necessary services to the cardholders.
Rewards & Benefits
Easy and Timely
Payroll Processing
SMS Notifications
for Transactions
Queue-Free Cheque
Cashing
Internet
Banking
Cost-Effective Payroll Management
Eliminate cost involved in cheques printing and cost involved in payroll distributions and reconciliation.
Automated and effective financial management through our Internet Banking
No more manual work.
No more manual work. The entire process is now automated to serve the university in the most efficient manner.
Fast and Convenient Transactions
Instead of spending extended time to process payments.
Instead of spending extended time to process payments. Universities can now complete the process in a very short period.
Reduce Paperwork
Environment friendly process.
No need for paperwork anymore. It is all online.
Boost Student Productivity
Students can now spend more productive hours.
Students can now spend more productive hours instead of leaving during university hours to go and cash cheques.
Cash cheques
No need to stand in long queues to cash cheques.
Saves you time, cost and effort to visit banks to cash cheques.
Free unlimited PoS purchase transactions
Cardholders can now use their cards for any PoS transaction within The Kingdom.
Cardholders can now use their cards for any PoS transaction within The Kingdom with most comfort and ease.
Dedicated easypay Call Center to help you
Cardholders can contact easypay Call Center on 8001000101.
Cardholders can contact easypay Call Center on 8001000101 to inquire about their card account and any other related inquiry.
Key Information
Cash withdrawal limit
5,000 per day
Withdrawal fees
Free
Free cash withdrawal from SAIB ATMs
Cardholders can now use their cards to withdraw cash from SAIB ATMs for free with most comfort and ease for their daily expenses.
Mini-statement option through SAIB ATMs
Cardholders can view their mini-statements through SAIB ATMs to help them track their expenses.
- University must be registered under the Ministry of Education.
- University must open a master account with SAIB or chooses to use any corporate account in case of existing SAIB client.
- An agreement must be signed between the university and SAIB for salary processing.
- University must its student’s data in an electronic format to SAIB.
- SAIB performs the KYC (Know Your Customer) on the students and issue the EduPay Student Cards to them.
- University transfers the salaries online through SAIB Corporate Internet Banking and SAIB uploads the salaries on the EduPay Student Cards accounts.
- Signed and stamped payroll services agreement.
- Corporate account with the bank.
- Corporate Internet Banking Agreement.
- Commercial registration (or equivalent in the case of government bodies).
- Each nominee's identification card duly signed by the holder and stamped.
- Fill-in and return the registration forms:
- Corporate registration forms
- Form for authorities and limits of the "financially authorized" persons
- Form for nominees/users that are authorized to approve the financial transactions
- Form for nominees/users that do not have financial authorities (makers, checkers and viewers etc.)
NO FEES FOR THE EDUPAY STUDENT CARD PROGRAM
To view the risks of Pre-Paid Cards , click here.
EduPay Student Card Program is an automated system to pay allowances to students directly in their prepaid card account.
It takes 5-7 working days from the date on which SAIB receives the required data.
3 years from the date of issuance.
The cash withdrawal limit for easypay card is SAR 5,000 per day.
From the SAIB ATMs, withdrawal is free for all transactions. From other banks ATMs, a fee of SAR 2 will apply from the 5th transaction per month onwards.
From the SAIB ATMs, balance enquiry is free for all transactions. From other banks ATMs, a fee of SAR 0.8 will apply from the 5th transaction per month onwards.
Yes, the cardholder can use the card at any POS within the Kingdom of Saudi Arabia for free and without any limitation to the number of transactions.
No, easypay card is mada branded which can only be used within the Kingdom of Saudi Arabia.
The university may contact its relationship manager or easypay Call Center on 8001000101. Please note that the easypay Call Center will not process the salary transfer related issues or queries and will direct you to the easypay support team.
The funds will be credited to the student card account as soon as it is processed by the university in Corporate Internet Banking and payment is received by SAIB.
Yes, the card will be blocked if student ID is expired. Card will be reactivated when university provides SAIB with the new ID.
Please, contact SAIB easypay Call Center on 8001000101 or the easypay support team. You can also contact your relationship manager.
Services offered by easypay Call Center:
- Issue a replacement card
- Issue a replacement PIN
Directly call easypay Call Center on 8001000101 to stop the card and issue a new card.
Please, contact easypay Call Center on 8001000101 to issue a new PIN.
Through our SAIB ATMs.