Automated Funds Transfer Service

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What is Automated Funds Transfer Service?

The automated funds transfer service offered by Libro to business Owners facilitates the automated direct deposit and debit of funds to and from suppliers, staff and customers. Conveniently credit or debit accounts at other Canadian financial institutions and improve operational efficiency!

Is this right for my business?

Consider Automated Funds Transfer if:

  • You make payments to staff accounts or suppliers, as well as other disbursement activities
  • You obtain payments from customers, as well as other collection activities
  • Multiple individuals may need to process AFT information for your business

Check out the current AFT fees

Peace of Mind With Strengthened Security Measures

  • Multi-step user authentication; user ID, unique password and 2-step security¹
  • Limit set for Transactions, File or Settlement Day and Monthly to assist with risk mitigation
  • Added risk controls for dual authorization transactions available
  • Risk Threshold controls; dual authorization becomes mandatory when limit(s) are set or total (for all associated businesses) $1,000,000 or more
  • Online records retention up to 18 months
  • Compatible with Microsoft Edge, Firefox, Safari and Google Chrome browsers

Frequently Asked Questions

How do I get started?

  1. Talk to a Libro Coach and complete a service request form
  2. AFT Service information and agreement forms required for set up will be sent via secure email
  3. Once agreements have been signed, returned to Libro, and once the set-up has been completed, we’ll provide the assigned users with the site URL and login details to access PaymentStream AFT through Central 1’s secure site

Are there known softwares that can create compatible data files?

Known softwares that can create compatible data files:
• Simply Accounting/Simply Sage/Sage 50, 100
• Jonas
• QuickBooks (may require additional software levels)
• CanPay
• RBA Scheduler
• Easypay
• GoldCare
• Paymate
• Condo Manager

Other softwares may be used if the file can be created in CPA standard 005 format. Please contact your software service provider to confirm if your software level has the function to create AFT files as well as confirming compatibility. For more information, questions or file specifications please contact a Libro Coach.

How does automated funds transfer service work?

Using the web-based platform provided by Central 1 Credit Union (Central 1), PaymentStream™ AFT, select the service option that works best for your business:

  • File Upload: Upload a file created by your software directly to the secure site for AFT processing. Files must be created in CPA005 standard format. See FAQs for a listing of known compatible softwares.
  • Data Entry: Enter and maintain your data (records) (account information, amounts, etc.) directly into the secure web-based application PaymentStream. Data entry allows you to choose from two different release types:
    • Manual Release: log into the site and create or release the batch (file) before each due date. Multiple due dates can be release at one time, up to a maximum of 14 days in advance.
    • Automatic Release: the system scans the data entered (records) and releases the information automatically, four business days ahead of the scheduled due date. This option eliminates the need to log into the system unless record information (amounts, bank account information, etc.) needs updating.²
  • Assign users within your organization who will have the ability to process the AFT information on your behalf customizable permission levels are available.
  • Provide membership fee amounts for direct debit and/or perform your own payroll calculations for direct deposit.
  • Verify batch totals in PaymentStream AFT to your own internal records.
  • Ensure account numbers and amounts in PaymentStream AFT and/or your own software are
    complete and accurate.
  • Process/upload AFT files two business days in advance of the due date to ensure deposits/debits are processed to accounts on the due date requested (less than two days lead time may result in a delay in processing/deposit times or the inability to correct errors before posting).

Who do I contact if I need AFT support?

PaymentStream AFT support is available through Libro Credit Union by emailing or calling 519-672-0130 ext. 4401

¹2-Step Security is an extra layer of security added to the platform. It authenticates a user by confirming two factors of authentication: A password and either a “hard” (physical) token or “soft” (mobile app) token which randomly generate a one-time code that must be entered before log in can occur. ²Data Entry Automatic Release may not be recommended for payroll/AP files as edits are normally required before most runs.