An Electronic Funds Transfer (EFT) automatically draws money from your bank account and deposits it directly into your BC OnLine account according to the parameters you set.
Here is a brief description of how our Electronic Cheque (or "On-Demand EFT") works. We recommend this feature because it gives you total control over when, and how much, money is sent.
You can add a new EFT agreement or update your existing EFT agreement by using the BC OnLine Change Form wizard.
- Q: Have you ever wished you could put money in your BC OnLine account instantly, without leaving your office?
A: Money you send to BC OnLine by Electronic Cheque is instantly credited to your BC OnLine Deposit Account. You can spend this money immediately on services available through BC OnLine.
- Q: How does Electronic Cheque work?
A: You "register" your chequing account information with BC OnLine. After this, you or your authorized staff will see "Electronic Cheque" on your main menu. When you want to send money to us, just fill in the amount on the "cheque" form you'll see on your screen, then follow the two-step authorization instructions on your screen.
- Q: Do you want to authorize specific individuals to write Electronic Cheques on your bank account payable to BC OnLine and give them a signing authority limit?
A: You may instruct us to authorize as many individual userids as you wish to have the Electronic Cheque feature. Only authorized users will see the Electronic Cheque option on their menu. Any of the authorized users can submit an Electronic Cheque. You may specify a maximum cheque amount.
- Q: Do you require dual signatures on your chequing account?
A: We provide you with the option of requiring either one or two electronic signatures on your Electronic Cheque before it can be processed.
You can print and complete the "EFT Authorization/Change" form (PDF document - Download Adobe Reader). Mail or fax your signed Authorization together with a photocopy of one of your cheques to:
BC OnLine Partnership Office
PO Box 9412, Stn Prov Govt
Fax: (250) 952-6115
For additional information, please refer to Schedule 'B' of the BC OnLine Terms & Conditions of Agreement document.