FAQs - EFTs

What is Electronic Funds Transfer (EFT)?
A EFT is a payment to a customer’s bank account.  EFTs are a convenient, easy and affordable way to deposit funds to a customers bank account.

What is Pre-Authorized Debit (PAD)?
A PAD is a withdrawal from a customer’s bank account, which has been pre-authorized by the account holder.  PADs are often used as a convenient way for a business to collect payment from a customer on a one-time or recurring basis.

What can I do if a PAD to my customer’s account is returned non-sufficient funds?
If a PAD is returned due to insufficient funds, the biller may re-present the payment in accordance with the payor’s PAD agreement.

What are DCBank’s processing times?
With our online EFT solution, customers can enter transactions for next day processing until 11:59 PM Mountain Standard Time (MST).  The transactions are then processed by the Bank at 5:00 AM MST each business day.  DCBank also has advanced processing options for clients who require priority EFT processing, allowing up to 4 files processed per business day.

How can I use DCBank’s EFT platform?

DCBank’s online EFT solution allows its customers to process payments quickly by distributing or collecting funds from customers in Canada.  Simply enter your customers’ payment information and funds are deposited or collected form your customer’s bank account.  Our flexible, easy-to-use and affordable solution can be used to:

  • Manage recurring billings
  • Process account receivables
  • Distribute funds to customers or suppliers
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