Have you seen the notice in your correspondence from The Government of Canada that they will be phasing out payments by cheque by April 2016? You will be required to sign up for direct deposit to have your refund deposited directly to your bank account, for both personal and business.
I know a lot of people that are not very comfortable with direct deposit but unfortunately for them we are beginning to see the end of the cheque writing era. With rising postage rates, bank fees and cheque fees we are continuing to see businesses adapt to the method of direct deposit.
At Intellibiz we have been using Telpay for over the past year and have converted a lot clients to do the same. Telpay is Canada’s leading electronic payment service. With Telpay you can pay employees, suppliers and CRA all via direct deposit. You are even able to transfer to international bank accounts. Telpay integrates seamlessly with your accounting software and signing officers can approve payments via email. Telpay saves time, money on stamps, bank fees, wire transfers costs, courier costs and other cheque related costs.
If you would like to learn more about Telpay and get your company set up, contact Intellibiz today.