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Advice and answers from the Bayzat Team

Payroll Processing via Check Deposit

Manisha Chincholia
  • Updated

How to transfer money to Lulu Exchange via check deposit

 

To process payroll via check, please follow the below instructions:

 

1. Write a check that is

  • Current dated

  • Crossed with "Account Payee Only"

  • Pay against as: Lulu International Exchange LLC

     

2. Deposit the check at the bank (full list of banks downloadable below) and wait for the fund release confirmation from your bank.

These are the preferred banks for Lulu Exchange with faster check realization and crediting of the amount:

 

  1. Abu Dhabi Commercial Bank
    Account number: 625808020004
    IBAN number: AE300030000625808020004
    SWIFT code: ADCBAEAA
    Account title: Lulu International Exchange LLC
    Branch name: Main branch - Abu Dhabi

     

  2. Emirates NBD
    Account number: 1014238154901
    IBAN number: AE080260001014238154901
    SWIFT code: EBILAEADJAZ
    Account title: Lulu International Exchange LLC
    Branch name: ENBD Jebel Ali Free Zone Branch

     

  3. First Abu Dhabi Bank (FAB)
    Account number: 4021003347804029
    IBAN number: AE110354021003347804029
    SWIFT code: NBADAEAAXXX
    Account title: Lulu International Exchange LLC
    Branch name: Main branch - Abu Dhabi

     

  4. Standard Chartered Bank
    Account number: (0)1974557202
    IBAN number: AE310440000001974557202
    SWIFT code: SCBLAEADXXX
    Account title: Lulu International Exchange LLC
    Branch name: Salam street - Abu Dhabi

     

3. An MPN number (reference ID) will be generated and visible on the platform.

 

4. Upon receiving the confirmation of your funds release, return back to your transactions tab and click on Confirm Funds Released as shown below.

 

 

5. Check the confirmation box to proceed as shown.

 

 

6. Input your check number as your proof of payment and select bank details for your bank and that of Lulu Exchange in which you deposited the check and click Submit.

 

 

7. Navigating back to the transactions page, you will be able to view the status of your payment and will be notified when salaries are processed.

 

 

Payment transaction details

Salaries will be released the same day if funds appear in Lulu bank account before 12:00 pm.

 

Banks usually take 1-2 working days to settle a cheque deposit transfer.

 

This means that if a cheque is deposited in Lulu ENBD account on a Monday morning, the funds may not appear in the Lulu account until end of Tuesday depending on the bank from which your cheque was drawn.

 

We do not recommend handing over a check at the Lulu branch as turnaround time can be extended by up to 4 days.

 

Please note: This is subject to any delays from the Central Bank of the UAE.

 

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