Electronic Cheque

When you select Electronic Cheque from the Account Management menu, you will go to the Electronic Cheque screen. This allows pre-approved users to transfer funds from your organization's bank account using an Electronic Funds Transfer (EFT) to your BC OnLine account. There is no charge for this service.

Note
Some banks and financial institutions will not participate in EFT agreements. Please consult with your financial institution prior to initiating an EFT agreement.

When you issue an electronic cheque, funds are immediately applied to your organization's BC OnLine account. The actual withdrawal from your bank account will take place 24 to 48 hours later. Records of these cheques will appear on your BC OnLine statement and your electronic chequebook (found under EFT Payments) as well as on your regular bank statement.

If your organization's financial system requires it, BC OnLine's Electronic Cheque feature can be set up so that two signatures are required for a cheque.

Completing an electronic cheque is a simple process, very much like writing a paper cheque. First, you fill in the amount of the cheque, then you “sign” it by clicking a button.

After signing the cheque, you can either send it to BC OnLine or void it.

From the Electronic Cheque screen, you can access the following functions:

•	Writing and Signing an Electronic Cheque.

•	Sending an Electronic Cheque.

•	Voiding an Electronic Cheque.

•	Unsent Cheques.

•	Cheques Requiring Two Signatures.