What is Automated Funds Transfer (AFT)?

AFT is a quick and cost-effective way for businesses, churches, and non-profit organizations to collect and send payments electronically. Members can easily create Canadian or US dollar transactions to or from accounts at any Canadian financial institution.

Donations
For churches and registered charities, AFT is a convenient, efficient, and reliable way to receive donations on a regular basis. By automating the transfer, you eliminate the need for donors to write cheques or remember offering/donation envelopes. AFT also enables consistent giving throughout the year, allowing churches and registered charities to budget more accurately.

Payroll Direct Deposit
When you arrange for payroll deposits via AFT, you eliminate the need to distribute paper cheques. While AFT isn’t a payroll service, it enables timely and efficient direct deposits – which your staff will appreciate.

Payables and Receivables
AFT reduces the time, effort, and expense needed to manage payables and collect receivables. It also reduces the need to issue or deposit cheques through in-branch services or an ATM.

For business, AFT makes it easier for your customers to make payments on time and improves customer service overall.

How does the AFT service work?

If you think that AFT might work well for your business or organization, speak with your Account Manager. They will help you decide if AFT is a good fit for you. Then,

1. Setup documents/agreements will be sent to you for signing
2. You will gather account details and void cheque from each payor/payee (these are for your records only). The account holder does not need to be a Kindred member.

There are two options to facilitate the processing of AFT transactions.

1. Central 1’s PaymentStream™ AFT application, which is used to set up one-time or recurring AFT transactions;
2. A file that conforms to Central 1’s AFT file specification, created through the software of your choice, and uploaded to PaymentStream.

When you set up AFT services at Kindred, you will enjoy real-time email confirmation of your transactions. And, you’ll be alerted to any processing issues immediately so you can correct the transaction right away.

Once set up, you’ll have access to:

• Central 1’s PaymentStream AFT web-based application;
• Friendly, live support Monday to Friday from 9 a.m. to 5 p.m.;
• Our helpful AFT User Guide;
• Two-step authentication for added security; and
• Secure electronic communication with Kindred’s AFT support team through our SecureIT platform

AFT Fees
Please refer to the applicable service fee booklet to review AFT fees for business or organization memberships.

What if I have a question or concern?
For additional support, please contact your Account Manager.