In this global environment, many companies are located in Canada, but do business in the USA. As cross-border trade accelerates, bank wires have become increasingly expensive for both the sender and receiver. With fraud as a major concern, sending a cheque is not the safest option. As a result, there has been significant demand over the last few years for a more secure and cost effective solution. Continue reading
Why do I love my direct deposit service? Let me count the ways. It is for the same reasons that I love paying personal bills with online banking – it’s easy, ultra-convenient and recipients love it!
Reason #1 – It’s Easy
Businesses should always be thinking of ways to become more efficient. Sending money with a few clicks of the mouse is certainly more efficient than dealing with the manual cheque processes – buying cheques, printing, signing, assembling – this is no longer the best way to pay employees or suppliers. Continue reading
Do you still send invoices, print off emails or write cheques to pay bills? With technology, software and apps, the tools to digitize most or all of your paper needs are now readily available and affordable. To get you started, here are five ways to reduce paper in your office.
Electronic Payments
Interestingly enough when you search the topic online, you will see electronic bill payment right at the top. Guess what? Telpay for Business can help with that one. The more payments you make electronically through Telpay for Business, the less you’ll spend on postage, envelopes and employee time coordinating invoices, cheques, and mailings. You will reduce paper, save money and valuable time.
On March 31, 2014, businesses sending cheques will see their costs for stamps increase by between 19-35%. The price of stamps and cheque related fees are constantly increasing, so the announcement of a price increase did not come as a surprise. What was surprising was the dramatic increase of stamps – as much as $1.00 when purchasing a single stamp.
The good news is that for businesses already sending electronic payments there will be no cost impact on their business. On the other hand businesses using regular mail will see a dramatic cost increase.
