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EFT and direct deposit for business

Invincible Pay is an EFT payment processor for Canadian businesses. Your wallet gets its own institution, transit and account numbers for incoming EFTs and direct deposits. Send one EFT or pay everyone in a bulk EFT run, typically in 1 business day.

Talk to our teamHow clients pay you by EFT
Video: How to Send an EFT from your Invincible Pay wallet, ending on the completed transfer

How to send an EFT from your wallet, start to finish.

EFT in 1 business day
Your own deposit details
Bulk EFT for all your contractors

Get paid by EFT to your own deposit details

Every wallet has its own institution number, transit (branch) number and account number. Clients, partners and anyone else can pay you by EFT or direct deposit from their own bank.

  1. Share your three numbers with the client or partner who pays you, as you would for any EFT.
  2. They send an EFT or direct deposit from their own bank, with your wallet as the payee.
  3. It lands in your wallet, typically in 1 business day, in the same balance as your e-Transfers.

Moving money in from your own bank works the same way, as the video shows.

Your deposit detailsActive
Institution
123
3 digits
Transit (branch)
12345
5 digits
Account
123456789
Your wallet
Example numbers. Anyone paying you by EFT or direct deposit uses yours.
Paid in to your deposit detailsDeposited
Client invoice 2207EFT$18,500.00
Partner paymentDirect deposit$42,000.00
From your own bankEFT$25,000.00

Send one EFT or pay everyone at once

Every EFT goes out from your wallet's balance and typically lands in 1 business day. Pick the way that fits the payment.

One EFT

Pay a supplier, a partner or your own bank account by EFT, straight from your wallet. Money services businesses send the day's total to their liquidity provider the same way.

Payments for MSBs

A bulk EFT run

Pay all your contractors, or your whole payroll, in one run. You check one total, and every payment goes out together.

Bulk payroll and payouts

Your own systems can send EFTs and bulk runs through our payments API.

Your EFTs this weekFrom your wallet
  • MonEFT to your supplier$18,400.00Sent
  • WedEFT to your liquidity provider$48,000.00Sent
  • ThuEFT, supplier invoice$6,250.00Sent
  • FriBulk EFT, 40 contractors$86,420.00Sent
Each one typically lands 1 business day after it goes out.
Talk to our teamApply in about 20 minutes. Usually approved within 3 business days.

Money that has to arrive today goes by wire. Wire transfers for business

Bulk direct deposit for payroll and contractors

Pay your whole team or every contractor in one run. Payroll for 40 people is one total to check, and every payment goes out together by EFT.

  • Payroll direct deposit for your whole team in one run, sent a business day before payday so everyone is paid on time. See how a small business runs payroll
  • Contractor payouts to everyone you owe in one run, typically landing in 1 business day
  • Bulk e-Transfer when contractors need the money in minutes, up to $25,000 each. See Bulk e-Transfer payouts
Talk to our team
Video: Run Payroll and Pay Contractors in a Few Steps
Bulk EFT runReady to send
$86,420.0040 contractors
Electrician$2,150.00
Framer$1,980.00
Bookkeeper$3,240.00
And 37 moreOne total to check

EFT and direct deposit, answered plainly

Typically 1 business day. A direct deposit is an EFT, so payroll and contractor payouts take the same time. If money has to land within minutes, send an Interac e-Transfer instead: up to $25,000 per transfer, with no daily limit.
Yes. A direct deposit is an EFT (electronic funds transfer) sent to a set of institution, transit and account numbers. Payroll is the best-known direct deposit, but clients, partners and anyone else can use one to pay your wallet.
Give them your wallet's deposit details: the institution number, transit (branch) number and account number. They add your wallet as a payee in their own bank and send an EFT or direct deposit. It lands in your wallet, typically in 1 business day.
Put everyone in one bulk EFT run: all your contractors, your payroll or a list of suppliers. You check one total, and every payment goes out together, typically landing in 1 business day. Contractors who need the money in minutes can be paid by Bulk e-Transfer instead, up to $25,000 each.
Yes. Bulk direct deposit pays your whole team in one EFT run. Each payment typically lands in 1 business day, so send the run at least a business day before payday.
Reach out to learn more. CPA 005 is the Payments Canada file format many payroll systems export for batch EFT. Tell us which payroll or accounting software you use, and our team will tell you how your bulk runs will work.
$1.95 + 0.20% per transaction for EFT and direct deposit, with no monthly fee for everyday businesses. Money services, crypto and high-risk businesses pay a $500 setup fee and a $500 monthly minimum that counts toward their fees. See all pricing.

Set up EFT for your business

Tell us how you pay and get paid today. We reply within 24 hours on business days.

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