Automated Funds Transfer (AFT)
Are you looking at streamlining your business payment processes?
Pre-authorized debits and direct deposit transactions speed along quickly with increased accuracy and fewer delinquencies with Automated Funds Transfer (AFT).
Initiate Direct Deposits:
• Accounts Payable Items
• Accounts Receivable
• Strata/Condo Fees
• Utility Bills
• Business/Property Taxes
How does it work?
The AFT service resides on one centralized database and is integrated into the PaymentStream™ platform to unify and standardize AFT processes and scheduling and provide universal support.
With self-serve PaymentStream™ Automated Funds Transfer (AFT), you'll have:
• The ability to send (originate) same-day AFT credits. You'll get your money quickly and reduce delinquencies.
• Enhanced originator ID limits help mitigate risk.
• Dual Authorization for added risk mitigation
• You can release AFT transactions up to 14 calendar days in advance.
• Avoid printing or receiving cheques by automatically transferring funds from one account to another. It's efficient, affordable, and will
improve your accuracy.
• The ability to download AFT product reports in CSV and PDF formats.
• Increased record retention - up to 18 months of history.
• You'll get real-time file validation during the file upload and release process.
• Email confirmations for File Upload and Manual Release only when a file is validated successfully – fewer emails!
You'll require 2-Step Security to access PaymentStream™ AFT which includes:
• A username and password and
• a Soft Token on a smartphone for instant access. (Hard tokens are available at a cost.)
Have questions or need more information, email firstname.lastname@example.org.