Bulk Disbursements offers a simple, streamlined, and secure method of sending funds to multiple recipients without the need for their banking information.
The Interac e-Transfer Bulk Payables functionality leverages the existing Interac e-Transfer platform to offer a secure, fully electronic mechanism to send payments to multiple recipients.
Bulk Payables gives you the following features:
Create and upload a single file that lists multiple individual payments for Interac to process.
Create and upload a single file that lists multiple individual payments for Interac to process.
Create and upload a single file that lists multiple individual payments for Interac to process.
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Requirements:
Financial Institutions / Issuers (FI).
Customer (the sender) requests a bulk payments transfer through their financial institution
The Financial Institution (FI) prepares the transfer file and sends it to Interac
Interac validates and processes the file, sending payments to each of the customer’s recipients via e-Transfer
Customer (the sender) requests a bulk payments transfer through their financial institution
The Financial Institution (FI) prepares the transfer file and sends it to Interac
Interac validates and processes the file, sending payments to each of the customer’s recipients via e-Transfer