Customer Automated Funds Transfer (CAFT)

CAFT is an online service that that streamlines your AP/AR process by automatically transferring scheduled payroll funds to employees as well as directly receiving funds from the accounts of customers and suppliers who bank at other Canadian credit unions and financial institutions. The CAFT system is compatible with many accounting programs, so your transactions can be uploaded directly or entered manually. Some other features are automatic due date calculation and release, flexible search criteria, mass changes and update capabilities, email acknowledgment and complete history viewing.

These automated transfers are commonly processed using CAFT:

  • payroll
  • accounts payable
  • accounts receivable
  • rent payments
  • membership fees
  • charitable donations
  • any regular receipt of funds
 

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