Canadian EFT For Acumatica
What Is EFT?
Electronic Fund Transfer, or EFT, is a secure payment method that allows transferring money from one bank account to another over the internet. Accounts do not have to be at the same institution for the transfer to take place. For businesses that have to pay vendors, employees, and utilities amongst other things, EFT ensures a quick, paper-free method of paying that is nearly instantaneous.
So What’s New?
Acumatica users can currently utilize an EFT feature in the platform to transfer money between American bank institutions. Until now customers have been unable to use this feature for an EFT between Canadian accounts.
Evron developed a Canadian EFT module seeing as this was important for businesses to have. With this new feature, Acumatica users have the ability to submit Canadian EFT transfers. Clients using this feature will additionally be able to keep a copy of the generated EFT file in Acumatica’s File Storage.
This application works within the already existing payment module in the Acumatica platform, seamlessly integrating with the system.
What’s In It For You?
Utilizing your Acumatica platform fully leads to increased efficiency and lower costs. Evron’s EFT file transfer allows users to make about 60 transactions per minute; while processing time for transactions have been reduced by 25%. Using EFT as a form of payment is also more secure than traditional forms of paying as there are added measures to prevent fraud. Further, you can say goodbye to cheque processing fees!
Gaining access to the Canadian EFT module is simple. Just purchase a subscription of the Canadian EFT tool and it will be added into the already existing Acumatica Payment Method screen. A user guide laying out installation and training will be included with the purchase. Installation only takes a few hours. A basic plan including the Canadian EFT module and user guide is $1500 per year. If you require installation help and training, please contact us for a quote.