The file is strictly used to submit debit and credit payments from disbursement and collection to/from an account at any financial institution in Canada and follows the guidelines provided by the bank particularly the Canadian Imperial Bank of Commerce (CIBC ). This file is sent to the bank in order for the bank to process payroll direct deposit payment. The program is used to generate an Electronic Funds Transfer (EFT) file used for payroll Direct Deposit payment. The file format is called EFT 80 Byte File by TD Commercial Banking. Did any of you used GP EFT format for TD Bank if so please share your experience. I am trying to setup EFT file format for TD Bank in Canada, but on GP 2013 R2 doesn't have this file type on the EFT File Format Maintenance. Submit your electronic payment files online and your beneficiaries will be paid on the date you request. Reduce the uncertainties associated with the timing of payments and the possibility of fraud from lost or misdirected cheques. Dollar payments to accounts at any financial institution in Canada. An easy and cost-effective way to pay groups of employees, suppliers or investors anywhere in Canada CIBC Electronic Funds Transfer (EFT) Direct Deposit is an electronic payment service that provides your business with a fast and simple way to issue Canadian and U.S.
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