ePay - Frequently Asked Questions
Common questions (and answers) regarding the Payroll payment service ePay (direct deposit)
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Frequently asked questions about ePay
Some common questions regarding our direct payment and deposit service
Can I pay my employees electronically (direct deposit into their bank account)?
Yes, with our integrated ePay service you can pay your employees directly without the hassle of printing and distributing cheques. Your employees will receive their funds directly in their bank account with your company name listed as the payee.
How much does it cost?
Electronic payments through ePay are significantly less expensive and more secure than printing via cheque. The service is priced per transaction. For example, if you are paying 5 employees in a payrun, the total cost will be for 6 transactions: 1 debit from your corporate account and 5 payments out to your employees. Optionally, we can send your source deductions to the Canada Revenue Agency and/or Revenu Québec. Fees are detailed on your ePay application / agreement.
What are the payment times and when do I need to process payroll?
It takes 4 business days (NOT including the day you run the payroll) to process and deposit the payment in your employees' accounts. We provide payments 5 days a week! Holidays or days in which the Canadian banking system is not operational (bank holidays) can change the payment dates - the next available payment date is always shown in your account dashboard after logging into your payroll account. For example, if you want your employees paid on a Friday, we ask that you finalize your pay run by N3:30 ET on Monday.
How far in advance can I process my payroll?
You can process your payroll up to 1 month in advance - funds only come out of your account 4 business days prior to the payment date. You can select the payment dates on the 'payments' step of the payroll process.
Who operates the ePay service?
We operate the ePay service and work with all Canadian banks to process payments. Please note that the source account should be a "chequing" account with chequing privileges. The destination account can be a chequing or savings account at any Canadian bank.
What if I make a mistake?
If you haven't finalized your pay run, just go to the appropriate step and make your modifications. Click on the 'calculate' step to re-calculate the pay run and you can proceed as normal. If you've already finalized a payrun, we recommend make a correction in a future payrun (if you've over paid an employee, deduct that amount from their next run). If you'd like us to make a correction, we have a limited time window in which we can manually modify your payments - please contact us as soon as possible so we can do this for you (fees may apply).
What happens if a payment is rejected?
If a payment is rejected (the debit against your corporate account or the payment to your employees) we will contact you. Please ensure that you have a current email address and phone number in your company profile. We will work with you to make the necessary corrections and expedite payments for you. Please note that the banks charge fees for these and a fee recovery charge will apply on your account (we hate these fees and are working to reduce them for you).
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