How do I make and manage a salary deposit?

To make and manage a salary deposit using online banking for business, you must first ensure that you have :
 

• Access to Payments in your transactional permissions.
• Added the employee that needs to be paid to your list. You will need their bank details.
   

To add an employee to your list :

1. Sign in to online banking for business.
2. In the left menu under Transfer of funds, click Salary deposits.
3. Click Employee list.
4. Click Add an employee.
5. Enter the details of the specimen cheque provided by the employee in the Employee profile section.
6. Click Continue, then Confirm. If your company requires more than one signature, it will be added as pending approval.
    

To make a new salary deposit :

1. Sign in to online banking for business.
2. In the left menu under Transfer of funds, click Salary deposits.
3. Click New salary deposits.
4. Select the deposit date and the account from which you want to make the salary deposit.
5. In the Transfer of funds section, select the employees to be paid, then enter the net amount of their pay. You can also add additional information (optional).
6. Click Continue.
7. Check the box for verification and confirmation.
8. Click Confirm.
    

To view, modify or delete a transfer between your accounts :

1. Sign in to online banking for business.
   
2. In the left menu under Transfer of funds, click Salary deposits.
3. Click on the list of employees.
4. Search for the employee in the list.
5. To view their details, click on their name.
6. To modify their details, click Modify to the right of their name.
7. To delete, click Delete to the right of their name.
8. Click Continue.
9. Check the box for verification and confirmation.
10. Click Confirm.
     

Good to know

• To prevent fraud, we're strengthening your security. We set up a 24-hour delay period before you can make a transaction after adding or modifying a biller. This only applies if your company requires one approval for this type of transaction.
• You can only modify or delete a transaction to be signed or pending (post-dated) until 11:59 p.m. (ET) on the day before the due date.
• To verify the status of your transaction, click Transaction update in the menu of the home screen, then on Salary deposits in the drop-down menu.
• You have the option to delegate the preparation of your payroll to Payworks
• To find out more about pending salary deposits, see our How to approve pending transactions page
• Salary deposit is available in Canadian currency. It allows you to deposit your employees' wages electronically. Charges apply.