Cash Management - Payables

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  3. Cash Management - Payables

Cash Management

Payables

Make payments electronically with your choice of payment options to meet your business needs.

 

ELECTRONIC FUNDS TRANSFER– CREDITS

Have time and money in making payments such as payroll, annuities, pension plan payments, dividends and investment interest by disbursing payments to your receivers’ accounts on the selected due date at any financial institution in U.S.

 

How it can work for your business:
  • Eliminates the cost associated with cheque production and reconciliation
  • Reduces postage and/or distribution expenses
  • Decreases staff time spent on administration
  • Enhances cash flow forecasting
  • Provides quicker access for your employees to their funds

 

PAYMENT DISBURSEMENT SERVICES

This service lets you make your business payments electronically with a choice of payment options and information delivery methods tailored to your needs.

 

  • Automates the disbursement of payments through a single process that accommodates Electronic Funds Transfer, Electronic Data Interchange, U.S. Automated Clearing House payments, Wire Payments.
  • Delivers remittance information by fax, email, EDI or mailed.
  • Allows the submission of U.S. payments with various due dates (payments can be post-dated for up to 35 days, wire payments up to 45 days).

 

How it can work for your business:
  • Increases control of payment timing and accurate cash flow forecasting
  • Improves efficiencies through streamlining of payment processes
  • Reduces clerical work and error through implementation of automated processes
  • Minimizes or eliminates the cost associated with cheque production, delivery and reconciliation (where applicable)

 

PAYMENTS AND TRANSFERS

Make bill payments, place stop payments and initiate transfers between your IFA accounts.

 

How it can work for your business:
  • Saves time by reducing the need for phone calls/visits to your branch
  • Manages security and control using our bill payment Full Access (self-registration of payees online) or Restricted Access (we add payees on your behalf)

 

WIRE PAYMENTS

Send wire payments virtually anywhere in the world with ease.

 

How it can work for your business:
  • Works securely by authorizing and releasing payments using authentication and encryption technology combined with other levels of security
  • History and audit trail is available for another layer of security
  • Reports can be printed or downloaded for further review or documentation