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Scotiabank launches Bulk Interac e-Transfer

Scotiabank and Interac launched Bulk Interac e-Transfer for Scotiabank’s business banking customers. The Bulk Interac e-Transfer expands the Interac e-Transfer service to these customers by offering a streamlined, secure and cost-effective alternative to cash, cheque or prepaid card disbursements. It allows businesses to migrate to electronic payments with ease and simplifies the management of payments by minimizing back-office operational burden. Through an automated file transfer process, businesses can securely and reliably send multiple payments in a single file upload, eliminating the need to issue, track and reconcile costly cheques or handle cash payments. Scotiabank cash management and payment services senior vice president Rania Llewellyn said the bank is the first Canadian Bank to offer this innovative new service to meet the needs of our business banking customers.

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