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Glossary
Accounts registered on the service are classified as 1 of 3 types. These are Customer, External and Pooled accounts.
Customer Accounts
This category includes all accounts that are domiciled at TD by your company and can be either debited or credited. Customer accounts that are not 'pooled' may not be debited beyond the available balance. 'Customer' represents these accounts in the type column on the View Payments and Transfers Profile grid.
External Accounts
External accounts refers to accounts which are domiciled at TD but do not belong to your company. These accounts can only be credited. 'External' represents these accounts in the type column on the View Payments and Transfers Profile grid.
Pooled Accounts
If your company has an approved Pooled Limit, your Customer accounts may appear with the type of 'Pooled'. The maximum dollar amount of debit transfers against a pooled account can be equal to the pooled account limit defined in your Company Profile, regardless of the actual balance in the account.
Authentication – provides additional security when authorizing your transactions. Your company may have subscribed to single authentication or dual authentication. The Authentication process consists of entering two pieces of information:
Single
Requires one user with an Authentication Device to authenticate/authorize the transaction before it is sent to TD for processing.
Dual
Requires two separate users with Authentication Devices to authorize and authenticate the transaction before it is sent to TD for processing.
An Authentication Device allows the specified user to authenticate transactions. Each device is pre-assigned by TD to a specific Connect ID. The device is not transferable and cannot be reassigned to another user. The Connect ID(s) that have an Authentication Device(s) assigned to them are listed in your Company Profile.
Authentication Device Status – Indicates whether or not an Authentication Device is available to authenticate transactions. If a device has not been used the status indicates 'Not Activated'. Once the device has been used to authorize payments the status indicates 'Activated'.
The status of a Device can be found in the View Company Profile page as well as the View User Profile page. Only a System Administrator and the user assigned the Device can view the status of the Device.
Entries which are posted today with the previous day's date.
Centralized Money Management (CMM)
Centralized Money Management – allows for the movement of Canadian dollar funds from any pre-arranged branch of any financial institution for same-day credit to the designated account domiciled at TD.
Challenge – The authentication of a transaction involves the use of an Authentication Device to validate the user. A Challenge is a 7-digit number generated by the Web Business Banking Service at the time of authenticating a transaction(s). This number is entered into a user's Authentication Device which in turn generates a Response to be entered into the PC to validate the user authorizing the transaction(s).
Company Originator – Electronic Funds Transfer (EFT) Service
In order for your company to use the WBB-EFT Service, TD must assign at least one Originator to your Company.
Each Company Originator has several properties that control what types of payments can be initiated and how the TD EFT system will process them. Some of these properties are maintained by TD, while others can be maintained by you and your company from the Originator Maintenance page.
Properties maintained by TD include:
Contra Account: Defines the Account that TD will use for Payment Settlement (i.e. the Account debited for Credit payments and credited with proceeds of Debit payments).
Currency: Identifies which currency the Originator supports. (i.e. Canadian Dollar (CAD) or US Dollar (USD) payments)
Due Date Check: Determines how many days in advance of a payment's due date that TD must receive the payment.
ID: The unique identifier for the Originator.
Name: The name assigned to the Originator.
Payment Type: Determines the type of payments that can be initiated using the Originator (i.e. Debits, Credits, or Credits and Debits).
Status: Identifies the status of the Originator (i.e. Test, Production, or Cancelled).
Properties that you and your company can maintain include:
Company Name: This name is included with every outgoing payment and may, depending on the receiving Financial Institution, appear as the transaction description on the Payee/Payor's bank statement.
Company Short Name: This name is also included with every outgoing payment and may, depending on the receiving Financial Institution, appear as the transaction description on the Payee/Payor's bank statement.
Return Account: Identifies the account which returned payments will be charged back to.
Note: Depending on the Financial Institution that receives the payment; either the Company Name or Company Short Name will appear on the Payee/Payor's bank statement.
Connect ID – is a five-character alphanumeric ID that begins with a letter. This ID is unique to each user and is required along with a password to logon into Web Business Banking.
Corporate Transfer Service (CTS)
Corporate Transfer Service – allows funds to be deposited at any TD Branch in Canada and instantaneously credited to one concentration account eliminating the need to have bank accounts at each deposit point.
CPA Codes - Electronic Funds Transfer
A CPA code is simply a code that identifies the type/purpose of the payment, and every payment initiated using the EFT service must include a valid CPA Code.
The Canadian Payments Association (CPA) publishes these codes as well the rules and regulations that have been established by the national payment system. These rules and regulations are available on their web site (payments.ca).
Customer Types - Wire Payments
Fixed Format Company
Companies must initiate wire payments from templates that are permanently registered with TD, with the Beneficiary, Bank and Intermediary Bank (if applicable) fields pre-defined. These fields cannot be changed when creating a payment. In order to make any changes to Fixed-Format Templates you must contact your Account Manager.
Free Format Company
Companies may initiate wire payments ad-hoc or from pre-defined templates managed by its users through the Template Maintenance function of Web Business Banking.
Deposit Account History - Balance Reporting
Deposit Account History – is the number of consecutive calendar days that TD maintains account information for each of your registered Deposit accounts. By default, your company has 120 days of history available.
Operating Loan Account Information will be maintained for both the current and previous month.
Note: Deposit Account History is also referred to as the Maximum History Subscription.
Frequencies - Electronic Funds Transfer
Frequencies allow you to organize your payment Templates into like frequencies.
Example: If you make some payments weekly and others monthly then organize the payments using the weekly and monthly frequencies.
There are 48 bank defined frequencies that can be assigned to your payment Templates.
Tip: You can use the frequency as a filter in the following areas within the WBB-EFT Service:
Groups - Electronic Funds Transfer
Groups allow you to organize your payment Templates into like groups (e.g. If you manage payments for your office and another person manages the payments for their office, then setup a group for Your Office and one for Their Office). Your company can create and maintain up to 25 unique groups from the Group Maintenance page.
Tip: You can use the group as a filter in the following areas within the WBB-EFT service:
Intermediary Bank - Wire Payments
This information is no longer required as we will route the payment according to established correspondent banking relationships.
Payment Destination - Wire Payments
The routing of payments depends on where the payment is destined. Selecting a payment destination ensures that the Beneficiary Bank Account field is configured in the proper way for routing. If the payment is destined for a TD branch, the Beneficiary Bank Account field will display two fields – one for branch number and the other for the account number. Other Banks and Other TD Account will display only one field.
The Payment ID is a unique identifier assigned to each wire payment at the time of creation. The format is as follows:
XXXXXYYMMDDNNN
XXXXX - Company ID; YYMMDD - Payment Date; NNN - Sequential number assigned to each payment beginning at 1 and recycling once it reaches 999.
Create New Wire Payment
Specifies that the sender is a TD customer and the beneficiary is an individual, company, TD Branch or other financial institution.
Create New Wire Payment to Bank (Bank Use Only)
Specifies that both the sender and beneficiary is a bank. This option is reserved for use by TD only.
Rates - Electronic Funds Transfer
A Rate consists of a Name and an Amount. Once defined, you can assign the Rate to your payment templates. Whenever your company updates the Rate all of the Templates that use the Rate will be updated automatically. Your company can create up to 25 unique Rates.
Tip: Use Rates to reduce the need to manually update the amounts assigned to individual Templates.
Example: Example: You are responsible for collecting Silver membership fees from your clients. The current fee for a Silver membership is $100.00. You create a Silver rate with an amount of $100.00 and then assign this rate to your payment Templates. Your company decides to increase the Silver membership fee from $100.00 to $300.00. Because you assigned a rate to your templates you will not have to update the amount of each template. Instead you update the Silver Rate to $300.00 and all of your templates are updated automatically to the new amount.
Response - Response – The authentication of a transaction involves the use of an Authentication Device to validate the user. A 7-digit numeric Response is generated by a user's Authentication Device once a 7-digit numeric Challenge is input into the device. The Response must then be entered into the PC to complete the authentication process.
System Administrator – refers to any individual that has been assigned an administrative right. A System Administrator can only administer functionality for the right which has been granted within Web Business Banking.
This individual is the company's main Administrator and is TD's primary contact.
Rights:
Transfer Limits – Payments & Transfers
The amounts of individual transfers as well as the combined total of transfers are checked against limits that have been defined in your company profile. These are:
Per Debit Limit
Maximum dollar amount allowed for a debit transfer. This limit is verified at the time the transfer is created.
Per Credit Limit
Maximum dollar amount allowed for a credit transfer. This limit is verified at the time the transfer is created.
Daily Debit Limit
Maximum daily dollar amount allowed for debit transfers. TD verifies this limit once the transfer is sent for processing. If the transfer causes you to exceed your daily limit, your transfer will be rejected.
Daily Credit Limit
Maximum daily dollar amount allowed for credit transfers. TD verifies this limit once the transfer is sent for processing. If the transfer causes you to exceed your daily limit, your transfer will be rejected.
Pooled Limit
The Pooled Funds Limit is a daylight credit facility for an amount agreed upon by your company and TD.
Transfer Status – Payments & Transfers
Transfer status – of your transfer will depend on whether or not your company has elected to set the CIT Company Preference of Authorization or has subscribed to Authentication.
If no Authorization or Authentication is used, the transfer is sent to TD immediately for processing after clicking 'Submit' from the Review Transfer page. The possible statuses are Transfer Successfully Completed or Transfer Rejected. Further details regarding a rejected transfer can be found by selecting the appropriate transfer status in the Activity List.
If Authorization or Authentication is used the status will indicate: Submitted for Authorization. An authorized individual must approve the transfer from the Authorize page before the transfer can be sent to the Bank for processing.
Transfer ID – Payments & Transfers
Transfer ID – is a unique number assigned to each transfer to differentiate the transfer in your company Audit Log.
The Transfer ID format is as follows:
CIT: XXXXXYYMMDDNNN
Whereas:
| CIT | - | The service |
| XXXXX | - | Your Company's Web Business Banking Number |
| YYMMDD | - | The date the transfer is created |
| NNN | - | A sequential number assigned to each transfer that recycles once it reaches 999 |
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