Disbursements

An efficent way to pay your local suppliers and vendors.

Overview

Scotiabank’s Disbursements service provides a quick and simple way to pay your local suppliers and vendors. This service can dramatically reduce the time and expense of manual payments and improve cash controls by enabling electronic payments to designated accounts.

The Disbursements service can also save your business money by eliminating cheque issuing charges, reducing storage/handling fees and financial losses related to fraud. With this service, you control your payments, so you can manage your business cash flows more effectively and improve cash forecasting.

Right for your organization if:

Regularly make payments to local suppliers and vendors
Currently issue cheques to local suppliers and vendors
Use an automated accounts payable system to generate payment files

Benefits you can bank on

  • Maximise cash flow with direct payments

  • Maximise trade discounts and eliminate late supplier payment and interest charges

  • Maintain an up-to-date cash position of your business accounts

  • Eliminate the risk of lost, fraudulent or damaged cheques

  • Ensure supplier payments are conveniently deposited directly to their account

  • Improve relationships with your suppliers and/or vendors

  • Track payment statuses electronically

  • Reduce cheque preparation, storage, handling and related bank service charges

  • Warehouse future-dated payments up to 365 days in advance

  • Export payment files from your accounting or payment systems

  • Resolve enquiries faster

  • Store payee account information for future use

  • Maintain financial control with a full audit trail

  • Create users with customised entitlements

  • Find out how our Cash Management Services
    can work for you. 

    Speak with a Scotiabank Business Banking Representative today.