TD's Electronic Funds Transfer service is an electronic pre-authorized collection service that reduces the time and cost involved in collecting and processing your recurring receivables (debits). Payments are collected from your customer's account and deposited to your TD business account on due date.

The service functions as an automated collection facility for a wide range of organizations, including condominium corporations, insurance, cable television, healthclubs, property managers, rental and leasing companies, magazine and newspaper subscriptions, utilities, churches and charities.

Features to Your Company

• a direct file transmission can be sent to TD via mainframe or PC directly
• EFT file transfer service is available through TD's Web Business Banking providing improved collection capabilities
• the system accepts recurring payments in varied amounts with various due dates
• an electronic File Processing report is available with the processing results including any rejected payments
• details regarding returned items (i.e. NSF, account closed) can be sent to your Mainframe or PC and can be quickly printed or downloaded for further analysis
• reports are provided on all items accepted for payment, as well as on those items which cannot be processed, to complement your own internal reporting procedures. Reports can be provided electronically, via fax, or through your branch

How EFT Benefits Your Company

• eliminates the time and cost of mailing and preparing invoices
• eliminates the collecting and depositing of the received cheques
• no more cash flow uncertainty; no more "the cheque is in the mail"
• automated efficiency - reduces clerical work and errors
• Use Web Business banking or a mainframe connection to transmit your debit payments

Features to Customers

• payments can be directed from any number of accounts at any financial institution in Canada, per customer

How EFT Benefits Customers

• enables your customer to enjoy the convenience of having withdrawals made from any account of their choice
• customer convenience, no cheques to write or mail
• eliminates the time and cost involved in mailing a cheque
• no chance of missing a payment or incurring a late payment fee
• recurring payments provide a simple method of payment

EFT Solution

• obtain authorization to debit your customers' accounts located anywhere in Canada
• send TD your payments through Web Business Banking
• TD debits your customers' accounts on due date
• TD credits your company account for the total dollar amount on due date
• your customers are notified of the debit on their next bank account statement

For more information contact a Relationship Manager at the Commercial Banking Centre nearest you.