EFT Payments

The Netcash service does away with the production of payroll cheques and cash handling, thus reducing the merchants costs associated with such payments. The Netcash EFT Payments service works on the same basis as internet payments with the following benefits;

• User friendly interface
• Import capabilities mean one point of capture – within your payroll/accounting package and save you time by not having to recapture batches online.
• Our pricing is generally much cheaper and safer than writing a cheque or internet transfer.
• All transfers reflect on the beneficiaries’ accounts on the same day, irrelevant of which bank they have an account with.
• It eliminates the risk of having cash on your premises.

................................................................................

Processing options

• Capture and submit payment beneficiaries and payments directly on the website. This is the same as using Internet banking for payments.
• Import data with CSV file. The Netcash file format is available on request.
• Data can be imported using Softline's VIP or Pastel Payroll packages. You will need to obtain the software updates in order to have access to this functionality.

................................................................................

Payment services

Processing Days
Payments can be processed on any workday, Monday to Friday, excluding public holidays. Batches can be post dated.

Same Day Service
You will be required to process and authorize your payments by 11am on the date you want payment made. The payment value will reflect in the beneficiaries account on the same date.

Credit Balance
If you are processing debit orders, you can release payments against the value of your debit collection batch value.

Funds Transfer
If you do not have an available balance in your Netcash account to make payments against, you can transfer the funds to a Netcash clearing account at the bank of your choice.

................................................................................

Payroll administration companies

If your business is involved with payroll administration for other companies, Netcash has a tailor made solution for you that will add value to your service offering. Please enquire with one of our account managers.