Island Savings

Automatic Funds Transfer

Paying employees, paying bills and collecting payments is simple with our Automatic Funds Transfer (AFT) powered by PaymentStream™.

Manage Cash Flow

Use our financial projection & cash flow worksheet to organize your business finances.

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Overview

Key Features & Benefits

Regulated by the Canadian Payments Association, Automatic Funds Transfer (AFT) is a convenient and cost-effective way to deliver or receive payments to and from accounts held at various financial institutions.

  • You’ll save time and money by skipping the process of writing, mailing and tracking cheques.
  • You’ll improve your cash flow by speeding up the process of incoming and outgoing payments.
  • Tracking AFT transactions is simple with our online system—much easier than tracking incoming and outgoing cheques.
  • You’ll minimize your exposure to risk and fraudulent transactions.
  • Your financial information and your privacy are secure while using our AFT service.

Whether you need to pay employees and suppliers, or collect payments from your customers, AFT will accommodate all types of businesses such as, payroll processors; property management, leasing and rental companies; fitness centres and gyms; manufacturers, retailers, charities, insurance companies and many more.

How It Works

Using AFT

  • Automatic Funds Transfer is accessible through a secure, user-friendly web-based application.
  • Once you’ve received authorization from us to send or receive funds, you can input and store customer information in PaymentStream’s database for one-time or recurring transactions.
  • Alternatively, you may also use off-the-shelf commercial or proprietary accounting software to upload a transaction list file, provided the file meets the CPA Standard 005.
  • The application also provides the ability to generate and download transaction reports.
  • The unique application allows you to set up a variety of payment frequencies (e.g. weekly, monthly, etc.) and you can create a single future-dated transaction, or set up recurring payments.

Have a question? Simply contact us and we'll provide you with the information you're looking for.

Online

Use our contact form to send us a message—we'll be sure to reply to you with the details you're looking for shortly.

In Person

If you're more comfortable coming in to see us, we'd be happy to chat with you about the questions you have.

By Phone

If you’d like to call us, here is a complete list of our branch numbers.