Smart Money: PaySauce & Banking | Knowledge | PaySauce

Smart Money: PaySauce & Banking

by Laura Marwick

So, we keep telling you that we can ‘integrate’ with bank accounts. But which banks? And what does that mean?

Well, we’ve got good news and we’ve got good news: it’s pretty much all of them. And what it means is super fast payments that PaySauce makes on your behalf (with your permission, of course). Our bank services can be split up like this: direct integration, authorisation, and Payroll Letter of Credit.

Direct integration

For the swiftest payroll processing in the south, look no further than PaySauce with ASB Fastnet Classic. Deductions will be processed instantly, and show up in your staff’s accounts by the evening. It’s really easy to directly connect your Fastnet Classic account once your PaySauce account is up and running, and we’re happy to help you get it sussed.

If you have an ASB Business account, we can still process your pays in record time (just not quite as fast as Classic). You’ll need to sign off on a Letter of Credit so that we can process your payroll by direct debit. Some business accounts are actually eligible for direct integration - talk to us to find out if this is you.

The Big Ones

We process pretty snappy transactions with ANZ, BNZ and Westpac. You’ll just have to fill in a form that tells your bank that you’ve authorised PaySauce to run your pays. We’ll provide you with the correct form and get things set up, and then you’re good to go. Rest assured that we can’t actually access your account, just liaise with your bank to pay your employees without bothering you. And the funds will get there on the same day.

The Not-So-Big Ones

We haven’t forgotten about the mavericks. For those who are with one of the smaller banks, like Rabobank or Kiwibank, we can still set you up. These customers just need to apply for a Payroll Letter of Credit, which is a slightly different form. Then your bank will have to give approval. The end result is the same; you do your thing while we get your people paid, quickly and accurately.

 

No matter which camp you’re in, our support team will get you the right paperwork and set you up for foolproof pay runs. You can take that all the way to the bank.

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Posted on 30 January 2019

Laura Marwick
Marketing Communications & Engagement Manager

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