Payables

Our payment solutions ensure your payments to employees and suppliers in Canada and abroad are processed quickly and on time.

Improve how you manage your payroll and accounts payable

Manage accounts payable online

When you sign up for our Internet Banking Solutions, you will have access to three different options for securely managing your accounts payable.

Payment option

  • Make electronic payments to your suppliers' accounts at any Canadian financial institution.
  • Set up postdated payments and dual authorization for payment processing.

Wire Transfer option

  • Send wire transfers to suppliers around the world, in a number of currencies.
  • Set up dual authorization for completing wire transfers and managing your list of payees.
  • When you carry out a transaction, use the current market rate or an existing foreign exchange contract.

Salary Deposit option

  • Make employee salary deposits in CAD (up to 30 transactions per day).

 

Make direct deposits in CAD or USD

With our direct deposit service, you can make immediate electronic payments (salary, pension, bonds, allowances, dividends, interest and other regular and irregular payments) in CAD and USD to your payees' accounts.

Advantages

  • Eliminate the printing and mailing of cheques, thereby saving time and money on paper and handling
  • Increase your company's productivity by eliminating manual tasks
  • Eliminate costs related to cheque reconciliation
  • Reduce the risk of fraud by increasing the security and reliability of your transactions
  • Access itemized reports that allow you to monitor all payments made and import data to your accounting software, eliminating the need to enter data twice

 

Protect yourself against fraudulent cheques

Our Cheque Reconciliation service simplifies your cheque management and reduces the risk of fraud. Two options are available.

Automated Cheque Reconciliation

Streamline your cheque reconciliation and get access to cheque images. This service is available in CAD and USD.

  • Cashed cheques matched against issued cheques to easily detect discrepancies or fraudulently-cashed cheques
  • Receive online reports compatible with your accounting system
  • Cheque images are stored for seven years
  • Free access to the Cheque Reconciliation option on Internet Banking Solutions for Businesses (IBS-B), which allows you to view the status of cheques at any time
  • Cheque transactions can be performed online (cancellations, stop payments and cheque image requests)
  • Images of the front and back of cleared cheques can be viewed online
  • Access to a history of the past 12 months from the date that your cheques were paid

Reconciliation Info

Compare issued cheques with the Bank's report on cashed cheques. This service is available in CAD and USD.

  • Cashed cheques matched against issued cheques to easily detect discrepancies or fraudulently-cashed cheques.
  • Electronic report compatible with your accounting system sent daily
  • Access to 7 years of cheque images.Free access to Cheque Reconciliation option on Internet Banking Solutions – Businesses (IBS-B), which allows you to view the status of cleared cheques at any time.
  • Cheque transactions can be performed online (cancellations, stop payments and cheque image requests).
  • Images of the front and back of cleared cheques can be viewed online.
  • Access to the last 12 months of transaction history.

 

Consolidate your payments

With our intercurrency multipayment service, send multiple payment orders (suppliers, salaries, dividends or other), within Canada or abroad, by consolidating them into a single electronic file.

 

Simplify your payments with Payments – File Option

Process all of your payments electronically and reduce your operating expenses. Simply send a file containing all the data National Bank needs to make payments and send out payment notifications on your behalf.

Advantages

  • Reduce costs resulting from manual errors, since data is exchanged between business partners electronically throughout the process
  • Eliminate the need to enter data twice
  • More secure: the risk of lost and fraudulent cheques is eliminated, as is the need for tracing requests
  • Improve the reconciliation process; payments can be reconciled as soon as they have been processed by National Bank
  • Reduce your bank fees, as you will no longer need to issue cheques

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TM BUSINESS CENTRAL is a trademark of National Bank of Canada.

® Nethris is a registered trademark of CGI Payroll Services Centre Inc.

1 CGI Payroll Services Centre Inc. is the sole provider of payroll processing solutions and services marketed under the Nethris® brand, for which National Bank of Canada acts only as distributor.