AUTOMATIC FUNDS TRANSFER (AFT)

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SAVE TIME AND MONEY WITH AUTOMATED SOLUTIONS

Automatic Fund Transfer (AFT) is a convenient and cost-effective way to deliver or receive payments


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It's quick, it's secure and it's convenient


Save time and money

Improve cash flow

Track transactions easier

Minimize risk of fraud

Keep it secure

Available 24/7 

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READY TO GET STARTED?

Speak to a business banking advisor at your branch today.

AUTOMATIC FUNDS TRANSFER (AFT)

OVERVIEW
HOW IT WORKS
LIMITS
SECURITY FEATURES
SUPPORT


KEY FEATURES AND BENEFITS


Regulated by the Canadian Payments Association, Automatic Fund Transfer (AFT) and powered by PaymentStream™ is a convenient and cost-effective way to deliver or receive payments.

  • You’ll save time and money by skipping the process of writing, mailing and tracking cheques.
  • You’ll improve your cash flow by speeding up the process of incoming and outgoing payments.
  • You can easily track AFT transactions with our online system—much simpler than tracking incoming and outgoing cheques.
  • You’ll minimize your exposure to risk and fraudulent transactions.
  • You'll keep your financial information and your privacy secure.


Whether you need to pay employees and suppliers, or collect payments from your customers, AFT will accommodate all types of businesses such as, payroll processors; property management, leasing and rental companies; fitness centres and gyms; manufacturers, retailers, charities, insurance companies and many more.


HOW IT WORKS


Automatic Funds Transfer is accessible through a secure, user-friendly web-based application.

  • Once you’ve received authorization from us to send or receive funds, you can input and store customer information in PaymentStream’s database for one-time or recurring transactions.
  • Alternatively, you may also use off-the-shelf commercial or proprietary accounting software to upload a transaction list file, provided the file meets the CPA Standard 005.
  • The application also provides the ability to generate and download transaction reports.
  • The unique application allows you to set up a variety of payment frequencies (e.g. weekly, monthly, etc.) and you can create a single future-dated transaction, or set up recurring payments.

 
Contact your business banking advisor if you have any question or to get started with automated funds transfer.



AFT OFFERS THE FOLLOWING LIMITS

  • Transaction Debit and/or Credit Limit: Highest amount of any single transaction
  • Settlement Day Debit and/or Credit Limit: total combined amount of all transactions
  • Monthly Debit and/or Credit Limit: total combined amount of all transactions processed per calendar month.







AFT SECURITY FEATURES


2-Step Security

PaymentStream AFT introduces 2-Step Security. 2-Step Security is a method of authenticating a user by confirming two factors of authentication:

  • A username and password; and
  • A physical Hard Token or Soft Token on a Smartphone*

*A token is required to access the AFT application from PaymentStream

You have the choice between whether you’d like to use a soft or hard token.

A soft token is installed on the user’s trusted device, Smartphone, tablet or iPad. The device must first have an authenticator app installed for the security process to work. Our recommendation is to install the Google Authenticator app. With a hard token, you have a physical device that you can obtain from Envision Financial.

Forced Mandatory Approval

As an additional security feature, PaymentStream AFT offers forced mandatory approval. As such, for organizations with a combined monthly limit beyond a set threshold, second approval is mandatory. For combined monthly limits below the set threshold, you have the ability to request mandatory second approval as an additional security measure. 


SUPPORT GUIDES & HOW-TO VIDEOS


Whether you’re learning the new system or running into issues, our support library is available to provide you with a variety of guides and how-to videos. Alternatively, if you’re unable to find what you’re looking for or are having technical difficulties, please reach out to your branch advisor. They will be able to help you with any questions or concerns you may have.


​AFT's 2-Step Security

​DOUBLE YOUR POINTS ON YOUR BUSINESS EXPENSES

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