BankIT Contractor Leave Payments

PayMe’s BankIT account creates a safety net of income and financial security when you are on leave or between contracts.

Advantages of BankIT include:

  • Peace of mind knowing you have access to cash if your contract is suddenly cut short.
  • Allows you to manage your pay agreement to best meet your cash flow needs.

With PayMe’s unique BankIT arrangement you may have hours banked until you choose to have them paid out. Any hours banked are shown on your payslip in a box named BankIT and when you have them paid out they show as BankIT hours being paid, so the account is always easily reconciled.

To take advantage of BankIT simply let us know how many hours you would like to have banked when you send in your timesheet. You can also have it set up as a continuous arrangement, such as please bank any hours over 35 for each week.

When you want to have your BankIT hours paid, simply let us know how many hours you would like paid by emailing timesheets@payme.com.au and it will show on your payslip as paid BankIT hours.

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