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Enhancements to Electronic Funds Transfer (EFT) and One-Off Payments

Enhancements to Electronic Funds Transfer (EFT) and One-Off Payments

Posted on: September 11, 2018
Author: ATB staff

On Monday, September 17th, 2018, we’re adding a new financial institution file exchange to our Electronic Funds Transfer (EFT) service. This will enable you to submit EFT files up to 5:30pm MT.  To ensure successful processing and timely delivery of your EFT payments, ATB continues to strongly recommend submitting your EFT files two business days prior to the payment due date.


This change is part of the Payments Canada modernization project. Other Canadian financial institutions will also be adding an additional EFT file exchange, creating future opportunities for same day payroll, expedited payables and receivables and a more unified EFT experience across Canada.


In addition to the EFT changes, the new exchange will also allow One-Off Payments submitted before 5:30pm MT to be processed on the same day.  USD EFT and One-Off Payments will not be affected.


If you would like to read more about the modernization project and what you and your companies role in it is, head over to Payments Canada​ page right here.


If you have questions about changes to ATB’s EFT service and how they may affect your business, please contact ATB’s Treasury and Payments Solutions team at 1-877-363-4855.


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