EFT, or Electronic Funds Transfer, is a method of transferring funds automatically from one bank account to another by electronic means. It is the paperless act of transmitting money through a computer network. It represents the way your business can receive direct deposit of all payments from First Capital to your company bank account.
In order to maintain and enhance the reputation of First Capital and build trusting customer relationships, all First Capital employees are responsible for ensuring the privacy of customer information so that we comply with Privacy Law (Personal Information Protection and Electronic Documents Act (PIPEDA). Your financial information is not disclosed to anyone inside or outside of First Capital, except as required to set up or make changes regarding EFT payments. Furthermore, we cannot disclose your own information to you without first verifying your identity.
The e-mail remittance notification will advise you of payment number, payment date, payment amount, invoice number and amount paid for each invoice.
We will issue the payment to you by cheque.
Contact us via email at EFTInquiry@fcr.ca. We will inactivate your bank account number and process any payments by cheque. We will issue you a new EFT Registration Form that you can complete and mail back to First Capital with your new banking information.
Yes. Simply notify us in writing, prior to closing or moving your account.
Fees, if any, vary by bank. EFT fees are generally lower than manual item deposit fees. Contact your bank and inquire as to their fee schedule for receiving EFT payments.
All valid invoices are paid within thirty (30) days after the latter of:
1) The date of the invoice or
2) The date of receipt of goods and services unless specified by contract.
Use a stamp marked “VOID” or write “VOID” across the front of the cheque. Do not alter, strikethrough or remove the MICR encoded line at the bottom of your “VOID” cheque.
You can request a letter of verification from your financial institution that contains all relevant bank account details.