Electronic Funds Transfer (EFT)
Looking to simplify employee and supplier pay management?
The Electronic Funds Transfer (EFT) service is a quick and secure way of making direct deposits or pre-authorized payment withdrawals from one bank account to another electronically.
Benefits:
- Access to a multiple authorization process (up to 3 parties possible)
- Obtain automatic validation of your transactions
- Generate real-time reports on your transactions and applicable fees
Characteristics:
- A service that allows for making several transactions simultaneously
- Available for transactions in Canadian currency only
- Registration available for periods of 24 months
Upon registration1 , you will have access to a dedicated support line for any questions about the functionality of the EFT service.
| Monthly fees2 applicable depending on your transaction volume. | ||||
|---|---|---|---|---|
| Nbr of transactions per month | Per transaction | Per lot (file) | Minimum monthly fee | Per additional transaction |
| 0 to 100 | $0.50 | $0.80 | $25.00 | $0.50 |
| 101 to 300 | $0.20 | $0.80 | $35.00 | $0.20 |
| 301 to 999 | $0.12 | $0.80 | $50.00 | $0.12 |
| More than 1000 | $0.105 | $0.80 | $120.00 | $0.105 |
Legal notice
1. Registration fee of $50.00. Fee schedule in force as of July 22, 2019. For more information on charges, please refer to the current “Service Fees Commercial banking” guide.
2. Monthly fees are equal to the higher of the minimum monthly fee or the sum of the fees per transaction and per file during that month.
