28 Sep RBC Payroll Bank Account and Direct Deposit
After months of development, we’re pleased to announce that you can now pay your employees straight from your RBC payroll bank account, using a direct deposit file generated from Payroll Connected. For existing clients that already use RBC as their bank, this gives another option for paying their employees. For new customers, this will provide them with just another free option to consider. Especially if they’re already banking with RBC Royal Bank.
We worked directly with RBC testing department to ensure the direct deposit file meets with CPA 005 standards, so you know that every penny will get to where it needs to go. Banks and other financial institutions have trusted the CPA 005 format for years. It has proven to be one of the most tried and tested ways that funds are sent from your RBC payroll bank account, to directly into the employee’s bank accounts.
So how does it work? Just finalize a payroll within Payroll Connected, and click on the ‘Get Direct Deposit File’ button to save the file onto your computer. Then open up the file transfer page with your RBC payroll bank account and upload that saved direct deposit file. Then you’re done! The funds will be taken automatically from the RBC payroll banking account and sent directly to your employees.
Pay from RBC Payroll Bank Account at No Extra Cost!
At Payroll Connected we’re not fans of up-selling, and this is no exception. So, for any client already on the Pro Package, the RBC payroll direct deposit file is available at no additional cost! Just configure the Payroll Processing fields in Management > Configuration > Settings to the Direct Deposit Export Format of ‘RBC – Royal Bank’ and enter your client number and processing center. There! You’re now ready to start paying employees directly from your RBC payroll account with just the upload of a single direct deposit file.