CAFT

Customer Automated Funds Transfer

CAFT is an online service for businesses wanting to create and deliver pre-authorized debits and direct deposit transactions. With CAFT, you can do transactions with employees, customers, suppliers and accounts at other credit unions and financial institutions across Canada.

CAFT allows your business to avoid the printing or receipt of cheques by automatically transferring funds from one account to another, at any pre-determined date for a constant or changing amount.

CAFT is:

• Fast, user-friendly and cost-effective
• Safe and secure
• Designed for maximum convenience with many value-added features
• Compatible with many accounting software packages
• Audit trail friendly and comes complete with online help

All of this is easy to set up! Just contact us and speak with Administration Services.

CAFT can be used for both direct deposit transactions and pre-authorized debits. The transfer of funds will take place automatically on a pre-determined date. The following automated transfers are commonly processed using CAFT:

• Payroll
• Accounts payable
• Accounts receivable
• Rent payments
• Membership fees
• Charitable donations
• Any regular receipt of funds

Originating pre-authorized debits and direct deposit transactions have never been easier. By using our new online CAFT service, you can create transactions anywhere, anytime.

Secure
CAFT makes use of several layers of robust security technology, e.g.: fire walls, 128 bit encryption and password security.