Batching EFT Requests

Batch files are useful for making a large number of transactions or requests at once. Batch files are text based documents that can often be exported directly from accounting software and can be manipulated in a spreadsheet.

VersaPay EFT offers two type of batch upload capabilities based on your account:

• Send & Request: Allows you to send money or issue a request from someone using just their email address.
• Direct Debit & Credit: Allows you to push or pull money out of any Canadian bank account.

Send & Request Batch

The functionality is the same as using the Send Money and Request Money buttons within our secure web interface. The benefit of this method is that you do not need to know the recipients banking details; however, you do have to wait for them to approve any requests for money. Money you send will happen instantly.

Download a sample Batch Send & Request CSV file.

The notice the following fields in the sample CSV file:

• email – required – the recipient’s email
• transaction_reference – optional – transaction reference information for your internal use
• transaction_type – required – either “send” or “request”
• amount_in_cents – required – the amount to be transferred in cents
• message – optional – the message displayed to the recipient

Direct Debit & Credit Batch

If you already have permission from your customers through a Pre-Authorized-Debit (PAD), this functionality will allow you to directly push and pull money into their bank account. Your customer will not need to go through the VersaPay signup process.

Download a sample Batch Direct Debit & Credit CSV file.

The notice the following fields in the sample CSV file:

• business_name – optional – customer business name
• first_name – optional – required – customer first name
• middle_name – optional – customer middle name
• last_name – required – customer last name
• institution_number – required – 3 to 4 digits
• branch_number – required – 4 to 5 digits
• account_number – required – 1 to 12 digits
• transaction_reference – optional – transaction reference information for your internal use
• transaction_type – required – either “direct_debit” or “direct_credit”
• amount_in_cents - required – the amount to be transferred in cents
• memo – optional – by default your business name will be displayed on the recipients bank statement. If you enter additional text, the bank statement will first show your business name, followed by whatever you add to this field. Bank statements are limited to 14 characters.

Adding a bank account to VersaPay EFT

At the bottom of every Canadian cheque you will find routing information which includes: a branch number, an institution number, and your account number. This information is used to transfer money to or from a bank account. The Canadian Payment Association maintains a public directory of institution and branch numbers, but what about your account number? While this number isn’t public, it isn’t private either. Unlike a credit card, where the card number is enough to make a purchase, your permission is required before the bank will move money from your account. Just like you sign a cheque to signify permission, with VersaPay you click on an approve and confirmation button to signify permission.

When you provide VersaPay with your routing information we store it in our PCI / SAS 70 Certified Data Center. You may consider VersaPay even more secure than writing cheques as your routing information is never shared with the recipient, but only used by VersaPay to move the money between accounts. Should you want to, you may cancel your account at anytime.

VersaPay is committed to securely authorizing transactions. You should; however, be aware, that just like there is no cheque writing dispute resolution policy at law in Canada, VersaPay does not act as a intermediary, only as the service prover to the customer.