CAFT Service

CAFT Service

The Customer Automated Funds Transfer service is for organizations that make recurring payable payments such as payroll or collect recurring receivable payments such as loan payments.

Features

  • Upload payment files or manage payments online via a secure Internet connection.
  • Payment files can be created from many accounting software packages.
  • Provides separate record creation and authorization functions for manual payment entry.
  • Email notifications for file transmissions.
  • Online report retrieval.
  • Online help is available for quick reference.
  • Review historical transactions online.
  • An audit trail of file transmissions and data entry is provided.   

Benefits for Payables

  • Reduce the cost associated with cheque production, reconciliation and storage.
  • Reduce risk and cost associated with lost, stolen or damaged cheques.
  • Employee, supplier and other payments are conveniently deposited directly into the account of their choice at virtually any financial institution in Canada.
  • Ensure payments are on time and valued on the due date. 

Benefits for Receivables 

  • Save your customers the expense of writing and mailing cheques.
  • Reduce your handing of cheques.
  • Reduce NSF cheques.
  • Minimize payment errors and delays.

For more information about Customer Automated Funds Transfer contact your nearest Regional Office.