EFT Payments 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;
- Netcash offers users a client friendly platform and interface to process salary and creditor payments
- Import capabilities mean one point of capture within your payroll / accounting package and saves you time by not having to recapture batches online.
- Our competitive pricing is cheaper and attractive to all types and sizes of businesses making salary and creditor payments.
- ETF payments are safer than writing cheques or managing internet transfers.
- All transfers reflect on the beneficiariesí accounts on the same day, irrespective of which bank they have an account with.
- EFT payments also eliminate the risk of having cash on your premises.
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 authorise your payments by 11am on the date you want payment made. The payment value will reflect in the beneficiaries account on the same date.
If you are processing debit orders, you can release payments against the value of your debit collection batch value.
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.
- 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.
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.