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Electronic Funds Transfer

Westminster Savings Credit Union's Electronic Funds Transfers (EFT) service lets you electronically debit Canadian and U.S. dollar accounts at any financial institution in Canada.

If your business collects regular, recurring receivables such as rent cheques, maintenance fees, bill payments, membership fees, or donations, then pre-authorized payments can help accelerate receivables, improve your cash flow and reduce administration.


  • Flexibility, control - in addition to controlling the timing of payments, you can trace payments, recall items or files and make corrections online.
  • Reduced operating costs - EFT reduces the costs associated with paper-based payment processing by reducing the time and cost of mailing and preparing invoices.
  • Time savings - EFT reduces time spent collecting, processing and depositing payments.
  • Improved security - EFT reduces the risk of lost, stolen or forged cheques
  • Customer convenience - EFT enables your customers to enjoy the convenience of having withdrawals made from any account of their choice, with no cheques to write or mail.

Talk to us to find out how you can benefit from using Westminster Savings Credit Union's Electronic Funds Transfer service.

Service Prerequisites

  • To submit your Electronic Funds Transfer (EFT) files electronically, you must meet certain minimum technical requirements. Ask us for more details.
  • Files and customer enrolment forms must adhere to formats stipulated by WSCU to meet standards set by the Canadian Payments Association (CPA). Copies of the file format layout and enrolment forms are available from WSCU or by visiting the CPA site at

EFT File and payment details

  • EFT files can contain payments with different due dates.
  • EFT files should be sent at least two business days before the effective date to ensure timely payment processing.
  • EFT offers a convenient warehousing facility so files can be sent up to 366 calendar days in advance of the specified due date.
  • The above is intended to be only a general description of this product and its features. This product and its features shall be subject to the terms and conditions of the applicable agreement governing its use.

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Payroll Services

In partnership with ADP Canada Westminster Savings offers payroll services.