Citibank Berhad and the Employees Provident Fund have launched CitiConnect EPF e-Contribution services and EPF Smart Kiosks at its branches throughout Malaysia.
The agreement allows Citibank’s corporate clients to submit and pay their Employees Provident Fund (EPF) contributions via CitiConnect, a web enabled financial services platform developed by Citi’s global transaction services. This internet collection service channel between Citibank and the EPF will help enhance efficiency and accuracy in the payment of EPF contributions.
EPF has also set up its Smart Kiosks at Citibank branches in Kuala Lumpur, Penang and Johor Bahru, to enable Citibank customers to check their EPF accounts while conducting banking transactions.
Leveraging on the smart chip technology of the MyKad, members can retrieve their EPF account statements within minutes, through a thumbprint identification. Citibank customers who want copies of their EPF statements for credit card or mortgage applications can now do so without having to visit any EPF service counters.
In addition, another agreement was signed separately, namely on Direct Crediting for EPF Withdrawals. Essentially, this facility enables all EPF-approved withdrawals by Citibank customers to be directly credited into their accounts at Citibank.
Sanjeev Nanavati, CEO of Citibank Berhad, said: Our collaboration with EPF allows us to provide a functional, efficient and value-add service for our customers. Through CitiConnect, employers can now submit their employees’ EPF contributions in a seamless manner.
Azlan Zainol, CEO of EPF, added: Secure and easy-to-use e-Contribution systems such as CitiConnect integrate electronic payment information capability, thus enhancing efficiency and ensuring employees’ contributions are conducted within the stipulated time frame by their employers.