Switch Your Payroll to Mox to Earn a Total 1% p.a. Deposit Interest
Hong Kong, 22 November 2021 – Mox Bank Limited (“Mox”) is launching ‘Payroll’, a new service allowing customers to use Mox as their default payroll account. By choosing Mox as their payroll account, customers can get more out of their salaries with Goal Savings, daily interest and real-time monitoring of activities, including instant notifications when their salary is received.
Barbaros Uygun, CEO of Mox, said: “The new ‘Payroll’ service brings us a step closer to becoming our customers’ primary bank. It also continues our efforts to give our customers better control of their finances by offering an all-in-one banking experience to grow their money, their world and their possibilities.”
Earn a total of 1% p.a. interest¹
To celebrate the launch of ‘Payroll’, Mox is offering customers a chance to increase their deposit interest rate to a total of 1% p.a. during December 2021 and January 2022. The Mox Bonus Promotion allows customers to earn an additional 0.5% p.a. deposit interest rate on top of their 0.5% p.a. base deposit interest rate, on deposits up to HKD500,000. Customers who switch their payroll account to Mox and complete the below two challenges during each of December 2021 and January 2022 will enjoy interest at the Bonus Rate on their next-day deposits for the rest of the month²:
- Payroll Challenge: Having at least one eligible payroll transaction³ of HKD10,000 or more which is dated in the past 35 days in their Mox Account.
- Spending Challenge: Monthly spending on eligible transactions of at least HKD6,000 on their Mox Card (with Mox Credit or from Mox Account)⁴.
New ‘Bill Payment’ service
Paying bills is now easier at Mox with the new ‘Bill Payment’ service. Customers can pay their bills to more than 900 organisations or merchants, including public utilities, telecommunications, government and private organisations, directly with their Mox or Goal accounts using their Mox app — no more time-consuming trips to bank branches.
Mox takes care of its customers’ everyday banking needs, with the ‘Payroll’ service, ‘Bill Payment’, ATM cash withdrawal, card spending and facilitating the splitting of bills between friends. We will continue to add new services for Mox customers to manage their digital lifestyles more effectively and make spending, saving and borrowing smarter.
¹Terms and Conditions apply. For details, please click here.
²The bonus interest rate will be credited the next calendar day after Mox has determined a customer had completed both challenges. If customers complete the challenges on the last day of the calendar month, they will not be eligible for interest at the Bonus Rate the next calendar day.
³Eligible Payroll Transactions will be shown under the ‘Salary’ category in the Mox app. Neither standing instructions nor other local electronic transfers will be considered “Eligible Payroll Transactions”.
⁴Only settled transactions (those shown as “completed” in the Mox app) are counted.