Next Day Payments Using Interac e-Transfer

This covers how to make payments for next day utilizing Interact E-Transfer. 

For payments of $25,000 or less requiring next‑day turnaround, PaymentEvolution offers Interac e‑Transfer as a funding option. To ensure timely processing: 

• Payroll must be finalized by 10:30 AM EST on the business day before the payment date. 

• Funds must be received by 3:30 PM EST on the business day before the payment date. 

Running Payroll/Business Payments 

Run your payroll following these steps to use Interac e-transfer 

Step 1. Reach the PAYMENTS step of your pay run or Business Payments page. 

Step 2. Select WIRE ID 004 as your Payment Method under Funding Source 

You will see that your employee/vendor payment date will show a next day payment 

In order to pay employees/vendors the next day, we MUST receive the funds no later than 3:30 EST the day before.  

Interac payments can take up to one hour to be received, so please plan accordingly. 

Your fees will include your wire fee. 

Step 3. Take note of the amount, on the pop-up finalizations, as this is the full amount to send via Interac 

Finish the payroll/payment normally. 

Making Your Payment 

You will need to follow a few steps to make your payment 

Step 1. Ensure your bank allows you to make e-transfers up to the required amount you will need to send. Reminder that the max is $25,000, but your bank may have a lower limit for your account. You can contact your bank and request a higher limit if required. 

Step 2. Use the email: funding@paymentevolution.com to send funds 

Step 3. Include your account number in the notes/memo section.  

To find your account number go to Settings -> Company Profile -> Payments Profile -> Select ‘Bill Payment’ from the drop down and it will show you the Account Number. 

Step 4. Finalize your payment