Receivables

Electronic Funds Transfer (EFT) – Debits

Reduce the time and cost involved in collecting and processing your recurring receivables by collecting payments directly from your customer's accounts.

How it can work for your business:

• Eliminates the time and cost of mailing and preparing invoices
• Eliminates the collecting and depositing of received cheques
• Removes cash flow uncertainty
• Reduces clerical work and errors

Payment Receiver Service

Consolidate both your payments and remittance information daily and receive it in the format of your choice without having to invest in expensive Electronic Data Interchange (EDI) technology

How it can work for your business:

• Allows both Canadian and U.S. Dollar payments
• Reduces costs for tracking items as information delivered will be in a consistent format
• Enables greater efficiencies with easy-to-read and interpretable reports

Remote Deposit Capture

Remote Deposit Capture provides a convenient and secure method to deposit eligible items¹ right from your office using a computer and compatible scanner. This ensures you no longer have to worry about getting to the bank by closing time to make your deposits.

How it can work for your business:

• Save time with fewer trips to the bank
• Deposit capability from multiple business locations where you have a computer and compatible scanner set up
• The ability to deposit eligible CAD cheques or USD cheques to your TD accounts²
• Same-day deposits for eligible cheque images received by TD by 7:30 pm EST on a business day³
• Access to detailed reporting and cheque images for up to 90 days
• You control user access and administrative rights, based on your business requirements

Put time back into your schedule with TD Remote Deposit Capture

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Legal:

¹Subject to the terms and conditions of your Remote Deposit Capture Service Schedule.

²For cheques drawn on financial institutions in Canada and U.S. Cheques payable in Canadian currency must be deposited to an eligible Canadian dollar account. Cheques payable in U.S. currency must be deposited to an eligible U.S. dollar account.

³Not applicable on a weekend or any other day on which TD (in Toronto) is closed for business.

Retail Lockbox

This service can accelerate your company’s receivables collection and accounts receivable posting process for high volume mailed payments. Your customers’ payments are directed to a specific TD Canada Trust post office box. TD Canada Trust collects and processes the payments daily and deposits the funds into your TD business account the same day.

How it can work for your business:

• Payment information is provided to you through a variety of options to suit your needs.
• Consolidated and comprehensive reporting from multiple lockbox sites
• Processing of post-dated payments up to 365 days

Wholesale Lockbox

Wholesale Lockbox collects your paper based remittances through specific post office boxes located across Canada. This service can accelerate your cash flow and provide you with timely payment information if your business collects high dollar value trade payments, mostly by cheque and/or if these payments originate from many points across Canada.

How it can work for your business:

• Improves your collection cycle by reducing time lost in the postal system
• Provides same-day availability of funds deposited to your TD Canada Trust business account
• Delivers timely payment information for updating your accounts receivable
• Facilitates reconciliation activities which provides internal cost savings
• Provides optional images online for 90 days with long-term storage via CD-ROM or an image transmission for unlimited access via your own archive

TD Merchant Solutions

We offer expert advice and payment processing solutions that will keep pace with your business growth. Our Relationship Managers will take the time to understand your business and provide you with the right solution — from reliable and secure POS terminals to an e-Commerce solution.

• Trusted advice and expertise from a bank that you know
• Technical support you can count on – with a 24/7 support line and on-site technical service within 4 hours of your call^* in most areas and in most cases
• A straightforward sign-up process^* with transparent costs and no surprises
• National reach and capabilities from the only payment solutions provider that is a leading Canadian bank

How it can work for your business:

• Get quick access to your transaction funds on the next business day, when set up with an operating account
• Real-time authorized transaction information with Online Reporting

^* Conditions apply