Payroll Services

We can assist with your payroll deposit processing using Automated Funds Transfer systems (AFT) for direct deposit of your employee's payroll. Electronic payroll deposit processing is efficient, time saving, and much more cost effective than traditional payroll payment using cheques.

Automated Funds Transfers are electronic credit transactions authorized by an employee to credit his or her bank account at payroll time. You can create any number of deposit transactions as long as the recipient‘s account is held at a Canadian financial institution.

We offer two options to facilitate processing AFT payroll transactions: The Customer Automated Funds Transfer (CAFT) system, and a file transmission system. 

  • The Internet-based CAFT system allows you to create payroll records and transactions and release the deposits either automatically or manually.
  • The file transmission system allows you to use your in-house or third-party payroll software to create AFT files. The files are then uploaded to an FTP server or to CAFT, and payroll deposits are then credited to your employee accounts on the dates specified.

Once we receive an AFT file either from CAFT or the FTP server, it is validated and then forwarded to the data centre of the destination financial institution. On the due date, this institution automatically posts the direct deposit to the appropriate customer‘s account.

CAFT generates a number of different reports which corporate clients can use to monitor the processing of transactions, including rejected or returned items.

If you are interested in AFT processing for payroll, contact one of our commercial account managers to discuss the details and get started.