Managed Funds Transfer
One of the easiest ways to safeguard your business is to take control of the payments you make and receive using Ceridian’s Electronic Funds Transfer Service. Flexible and easy to use, this electronic solution means that you can make and receive payments using the BACS system, ensuring you have an up-to-the-minute picture of your business’s finances.
Benefits of choosing the Electronic Funds Transfer Service
By making this service part of your payment and collection procedures, you have complete control over the money moving in and out of your business.
- Management reporting allows you to keep track of the exact state of your business finances – so you can make informed decisions about the best time to make payments.
- The system is easy to implement and use – there’s no huge upfront investment or lengthy training to disrupt your business.
- Making payments this way saves on paperwork and administration – saving you time and freeing up resources to work on other projects.
- Many insurance companies – and Her Majesty’s Revenue & Customs – are starting to insist that payments are made electronically; with our Electronic Funds Transfer Service in place you’re prepared for this.
Why choose Ceridian?
- As a BACS approved bureau, we have been reviewed by BACS Ltd auditors in 5 performance categories, in all of which we’ve been rated “Excellent”; the highest rating possible.
- Rely on the expertise and decades of experience of dedicated and qualified service professionals, committed to your business.
- Trust the UK’s leading HR and payroll services company, responsible for transferring £26 billion of customer funds every year promptly and securely.
- Join over 6,000 customers across the UK and Europe who benefit from our innovation and efficiency.
We will install the system for you and provide detailed on-site training. We also deliver ongoing helpline support and advice, including assistance with obtaining your BACS number.
How does it work?
- Simply input the details of the payments you wish to make or receive, either manually or by importing data from your accounting software.
- We then validate the account details and transfer the information to the BACS system.
- Following every BACS run, you will receive reports detailing all payments made and confirmation that the BACS transactions have been successful. You can also generate a remittance advice to accompany payments to suppliers.
Choosing Ceridian to provide you with a contingency service means that your payments and collections are protected in the event of your system failing. This means you can continue to provide a seamless service in the event of any environmental or technical disaster.
Advantages of our disaster recovery options include:
- Protection against disasters that is tailored to your needs and is cost-effective.
- Using an independent supplier means that your payments or collections are completely removed from whatever emergency might affect in-house systems.
- Our timesaving processes and high-quality service ensure that your contingency planning is much easier – leaving your staff free to carry out every day activities.
Who needs a BACS/Payroll Contingency service?
Disasters such as floods, fires, system failures or BACSTEL-IP problems such as lost swipe cards, can impact a business at any time. Disaster recovery should be part of everyone’s corporate planning.
BACS Contingency is particularly important if you are:
- Running an in-house payroll or have your payroll processed through a bureau.
- Submitting direct to BACS.
- Collecting Direct Debits, and delays could seriously affect your cash flow.
- At particular risk of terrorist attack through your sector or location.
- As a BACSTEL-IP submitter, you have an obligation to have an adequate BACS contingency in place.
Our Managed Funds Transfer solution is part of our
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