๐๐ข๐บ๐ฎ๐ฆ๐ฏ๐ต๐๐ต๐ณ๐ฆ๐ข๐ฎ ™ AFT (Automated Funds Transfer)
PaymentStream AFT (Automated Funds Transfer) facilitates processing and settlement of pre-authorized debits (i.e. donations, strata fee collection) and pre-authorized credits (i.e. payroll, payments to suppliers).
Members can either use Central1 PaymentStream AFT web-based application to input and process the transactions or create a file in CPA Standard 005 format that can be uploaded to Central1 from member's accounting software.
Payment Stream AFT is a self-serve product. User guides and training videos are provided.
The system offers the following features:
- Ability to send (originate) same-day AFT credits
- Enhanced originator ID limits to assist with risk mitigation
- Real-time file validation during file upload and release process
- File Upload and Manual Release email confirmations sent only when a file is validated successfully. Automatic release will still get email confirmation if a transmission rejects.
- Added risk controls with dual authorization, where one user submits and another user approves before the file is released
- Canadian or U.S. dollar transactions can be originated as long as the recipient’s account is held at a Canadian financial institution
- Ability to release AFT transactions up to 14 calendars days in advance for Data Entry and 45 days in advance for File Upload.
- Ability to download most AFT reports in CSV and PDF formats
- Increased record retention for certain reports
Users require 2-Step Security to accessPaymentStream AFT. 2-Step Security is a method of authenticating a user by confirming two factors of authentication: a username and password and a physical Hard Token or Soft Token on a smart phone.
For additional information regarding PaymentStream AFT, please contact your business account manager or local Vancity branch.
Additional Information:
- PaymentStream AFT, Q & A
- PaymentStream AFT, Guide for Manual Release
- PaymentStream AFT, Guide for Automatic Release
- PaymentStream AFT, Guide for File Upload
- Guide for Soft Token Log In
- Guide for Hard Token Log In
- CPA005 File Format Specifications
- Training Videos
- Guide to Pre-Authorized Debits from the Canadian Payments Association (CPA)
- CPA Rule H1 Pre-Authorized Debits (PAD)
- Sample PAD Agreement from CPA*
*Please reach out to your Cash Management Account Manager to obtain a fillable Word version of this document.