Overview

An EFT debit is a type of electronic funds transfer where funds are withdrawn or debited from a bank account. This is commonly used for bill payments, subscription services, or any scenario where a business needs to collect payments directly from a customer's bank account. It's a secure and efficient way to automate recurring or one-time payments, improving cash flow and reducing administrative overhead for businesses.

How it works

Payment Flow

  • Customer Authorization: The customer initiates the process by providing you with their bank routing information and authorizing you to debit their bank account. VoPay can manage this entire process with the customer via eLinx Connect.
  • Payment Initiation: Your application sends the payment instructions (amount, bank account details, etc.) securely via our EFT Fund endpoint.
  • Payments Canada Network: VoPay processes payment instruction through the Payments Canada network, which facilitates electronic funds transfers between financial institutions in Canada.
  • Funds Settlement: The funds are transferred from the customer's bank account to your VoPay account.

Timing

When using EFT, there's a delay before funds appear in your VoPay balance. This is called the "settlement time". See the tables below for EFT settlement times.

Settlement TypeSettlement TimingLast Cutoff Time
T+33 business days from payment creation6:00pm EST
T+22 business days from payment creation6:00pm EST
T+11 business day from payment creation6:00pm EST
Same DayMidnight EST on the day of payment creation1:00pm EST

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Make the Cut: EFT Payment Deadlines

Avoid delays - check the cut-off times


EFT Debit Transaction Statuses

StatusDescription
PendingTransaction received by VoPay
In ProgressTransaction being processed by the FI
Successful or FailedFunds have cleared or transaction was unsuccessful
Cancelled (by VoPay)Transaction cancelled by VoPay’s risk team before it was submitted to the FI
Cancelled (by merchant)Transaction cancelled by the merchant before it submitted to the FI

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Need information on how to cancel payments?

Visit Refund and cancel payments.


EFT Debit Failures

CodeReturned Item ReasonsDescription
900Edit RejectBank account information cannot be validated.
901NSFInsufficient funds.
902Cannot TraceAccount cannot be located.
903Payment Stopped/RecalledPayment stopped or recalled by account holder.
905Account ClosedAccount is closed.
907No Debit AllowedAccount does not permit debit transactions.
908Funds Not ClearedInsufficient cleared funds in the account.
909Currency/Account MismatchTransaction currency doesn't match the account currency.
910Payor/Payee DeceasedAccount may be closed or frozen due to death.
911Account FrozenAccount is frozen, no transactions allowed.
912Invalid/Incorrect Account No.Account number is incorrect or invalid.
914Incorrect Payor/Payee NamePayor/payee name doesn't match transaction details.
915PAD No Agreement Existed – Business/PersonalAccount holder requested to withhold payment.
916PAD Not In Accordance with Agreement - PersonalDebit not in accordance with PAD agreement.
917PAD Agreement Revoked - PersonalPAD agreement authorizing debit has been canceled.
918PAD No Pre-Notification – PersonalBank requires pre-notification agreement.
919PAD Not In Accordance with Agreement – BusinessDebit not in accordance with PAD agreement.
920PAD Agreement Revoked – BusinessPAD agreement authorizing debit has been canceled.
921PAD No Pre-Notification – BusinessNo pre-notification of PAD change or no written confirmation.

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