Payables

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 with Cheque Positive Pay

Our solution allows you to automatically reconcile your company's cleared cheques, which optimizes your cheque management and further protects you against fraud. You can manage and view the status of your cheques through our online platform.

To validate the cheques, the Bank compares the information in the cheques deposited by your beneficiaries with the data from your issue file. In the event of a discrepancy, the Bank will notify you by email that a decision is required.

You can purchase this product in Canadian or U.S. dollars.

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