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Cash Management & Payment Solutions

Automated Direct Credit &
Electronic Payroll Services
Instant Payments Credit Services
RBC BusinessPay
Automated Direct Debit
Bill Payment Collection Services
Non-Stop Depository

Cash Management & Payment Solutions

Effective cash management strategies are essential to managing your business.

We offer a full range of services that are tailored to meet your needs and give you maximum control over your business finances on a day to day basis.

By discussing your specific needs and preferences, we can set you up with the right tools and arrangements to optimize your banking experience.

Automated Direct Credit and Electronic Payroll Services

RBC's Automated Direct Credit service enables you to electronically submit payment instructions to the bank, at your convenience. This service allows you to make a wide variety of individual and mass payments such as payroll, and vendor payments, to automatically credit your employees and other payer accounts at RBC or other local banks.

Automatically deposit individual or mass recurring payments directly into your payee accounts held at RBC or other local banks with Automated Direct Credit Services.

Managing recurring payments can be costly and time-consuming. Automated Direct Credit Services offers benefits that increase your control over cash flow and reduce your costs.

If you want to:

  • Stop processing labour-intensive cheques
  • Make your payments electronically
  • Gain predictable cash flow through reporting

...then Automated Direct Credit Services may be right for your business.

For your business, it saves time and reduces expenses associated with preparing, storing and handling paper cheques, and helps protect you from the risks associated with cheque and cash handling.

Direct Credits are commonly used by a wide variety of companies to automate their payments:

  • Private sector companies for dividends, payroll, pensions, supplier/vendor payments, reimbursement of expenses to employees, etc.
  • Financial institutions and insurance companies for annuities, claims, interest, payroll, pensions, dividends, reimbursement of expenses to employees, etc.
  • Public sector entities for payroll, pensions, social/economic payments, reimbursement of expenses, etc.
  • Business owners who delegate the payments function to other users (few or several)

Send us electronic instructions to disburse salaries and other payments by crediting individual & business accounts across banks.

Automated Direct Credit - Payroll Service*

Automated Direct Credit - Payroll Service

Electronic payroll is one of the most popular categories of Direct credits. The electronic payroll client is the employer (an RBC Business client), who will send us a payroll file to credit salaries, emoluments, bonuses and other benefit payments, directly to their employees’ accounts. The good news is that it doesn’t matter if your employee banks with RBC or other local banks.

Through the ACH (Automated Clearing House), we can credit accounts across all local banks and settlement usually occurs within one day! With our Direct Credit Service, you can manage your business banking anytime, anywhere.

*Available only in Bahamas

Instant Payments Credit Services

Instant Payment Credit service enables you to electronically submit payment instructions to the bank, at your convenience. This service allows you to make a wide variety of individual and mass payments such as payroll, and vendor payments, to automatically credit your employees and other payer accounts at RBC or other local banks.

Automatically deposit individual or mass recurring payments directly into your payee accounts held at RBC or other local banks with Instant Payments - Credits.

Managing recurring payments can be costly and time-consuming. Instant Payments Credit Services offers benefits that increase your control over cash flow and reduce your costs.

If you want to:

  • Make your payments electronically
  • Gain predictable cash flow through reporting

...then Instant Payments - Credit may be right for your business.

For your business, it saves time and reduces transactions cost and involves shorter settlement time (clearing).

Instant Payments are commonly used by a wide variety of companies to automate their payments:

  • Private sector companies for dividends, payroll, pensions, supplier/vendor payments, reimbursement of expenses to employees, etc.
  • Financial institutions and insurance companies for annuities, claims, interest, payroll, pensions, dividends, reimbursement of expenses to employees, etc.
  • Public sector entities for payroll, pensions, social/economic payments, reimbursement of expenses, etc.
  • Business owners who delegate the payments function to other users (few or several)

Send us electronic instructions to disburse salaries and other payments by crediting individual & business accounts across banks.

Instant Payments - Credit - Payroll Service

Electronic payroll is one of the most popular categories of Instant Payment Credits. The electronic payroll client is the employer (an RBC Business client), who will send us a payroll file to credit salaries, emoluments, bonuses and other benefit payments, directly to their employees’ accounts. The good news is that it doesn’t matter if your employee banks with RBC or other local banks.

With our Instant Payment - Credit Service, you can manage your business banking anytime, anywhere.

RBC BusinessPay

We know making payments is essential to running your business and managing multiple payments & receivables can be costly and time-consuming. RBC BusinessPay allows you to automatically make individual or multiple payments directly into the accounts of all your payees with ACH Direct Credit & collect receivables into your accounts with ACH Direct Debit.

Learn more about RBC BusinessPay. Learn more about RBC BusinessPay. Learn more about RBC BusinessPay.

Automated Direct Debit

RBC's Automated Direct Debit service allows you to electronically submit collection instructions to the bank, at your convenience. This service allows you to collect recurring, fixed or variable receivables from your customers where you have their pre-authorized consent to automatically debit their RBC Royal Bank deposit account.account at RBC or other local banks.

Our Automated Direct Debit Service is an ideal tool for business clients to automatically collect recurring or periodic, fixed or variable receivables in local currency from their RBC Royal Bank customers.

If you have obtained pre-authorized written consent to withdraw funds from the RBC Royal Bank deposit accounts of your consumer or business clients/payors, Automated Direct Debit Service can streamline the collection of these payment obligations on their due dates.

Invoicing and collecting paper-based payments is costly and time-consuming. This service offers benefits that increase your control over cash flow and reduce your costs.

If you want to have:

  • Predictable cash flow
  • Flexible Payment Management
  • Easier collection of dishonoured payments

...then Automated Direct Debit Service may be right for your business.

For this service you require written consent or an agreement with your client. If you prefer not to have contracts with your clients, then you may consider pursuing the Bill Payments Collection Bill Payments Collection Bill Payments Collection Bill Payments Collection Bill Payments Collection Bill Payments Collection Bill Payments Collection option.

Features and Benefits:

  • Convenience for you – Transactions can be done simply from desktop or mobile
  • Convenience for your customers – A convenient and cost-effective payment option for you to offer your RBC Royal Bank customers
  • Reduced costs associated with manually preparing and dispatching invoices, reconciling payments and collecting NSF cheques are reduced
  • Control – You now have control in your hands as you initiate the payment so you don’t have to depend your customers
  • Timely payments – payments are collected on the due date thereby improving the predictability of cash flow
  • Improved Security – Files are sent securely and no need to handle cash and cheques
  • Save on property costs – No need to set up physical locations to collect payments
  • Efficiency – Say goodbye to the following activities:
    • Opening incoming mail and comparing cheques to invoices
    • Listing and balancing cheques for deposit
    • Preparing and delivering a deposit slip to the bank
    • Reconciling the deposit to the bank statement
      • Collect payments from multiple customers by submitting just one file
      • Reduce errors – less chance of errors occurring once files are automated
      • Reduce Fraud – less chance of incurring fraudulent items (forged, lost or stolen)

Bill Payment Collection Services

RBC Bill Payment Collections Service enables you to receive payments from your clients electronically. This makes it easier for you to collect your funds and offer convenience to your customers who can now manage their bills and payments their way - anytime and anywhere.

RBC’s Bill Service is a key collections management tool, which is offered within our suite of Business Cash Management Services.

This service allows businesses to be enrolled as billers on RBC’s Digital Banking Solutions. Once enrolled, the business name appears on the list of acceptable payees. RBC consumer and business customers are then able to make payments to the Biller.

Features & Benefits

  • Gain faster access to your money and improve your cash flow - automatic credit of funds the same day, directly to your company's RBC account.
  • Improve business processes with an accurate view of payment information and ability to reconcile your accounts receivables easily.
  • Save time and money - lower operating costs from servicing fewer clients wishing to pay bills in your offices, so that you may concentrate on your sales and other service efforts. Spend less time opening mail, sorting payments with cheques, making deposits at the bank etc.
  • Eliminate NSF cheque handling and associated costs - Electronic bill payments are rejected at the source if a customer’s account does not have the necessary funds.
  • Enhances the satisfaction of your clients with RBC accounts by offering them a convenient, secure way to pay their bills 24/7.
  • Improve the efficiency of your collections management systems.
  • Increase your payment channels to your clients through RBC.

For this service you require no contract with your client. If you want authorisation to debit your client's account for recurring payments then you can pursue the Automated Direct Debit Automated Direct Debit Automated Direct Debit Automated Direct Debit Automated Direct Debit Automated Direct Debit service.

What will your company need to apply for this service?

If you are interesed in this service or would like to find out more, please contact:

  • Your Relationship Manager or
  • Our Business Electronic Sales Specialists:
    • Tamarah Arends-Croes - 297 5233147
    • Ludwin Dabain - 297 5233146
    • Desiree Knowles: 242-356-8717
    • Roshan Smith-Joseph: 242-727-5724
    • Julian Seymour: 242-457-3100
    • Jermaro J. Hamilton: 649-232-6122
    • Javesh Chugani - 5999 7638402
    • Jameal Welcome: 345-925-2902
    • Stephanie Auguste - (721) 546-7272
    • Alicia Phillip 736-4197
    • Curtlan Polius 721-4789
    • Sean Ramlochan 795-8785
  • Call 625-4RBC or 711 (Option 4)

Non-Stop Depository

Our Non-Stop Depository or "Night Bag" facility provides a convenient, safe and secure way to make deposits to your Business account 24 hours a day, 7 days a week at RBC branches and specified RBC locations.

You can deposit cash or cheques at any time of the day or night utilising the drop chute located outside of the branch.

A key for the chute and biodegradable bags are provided for the Non-Stop Depository service, which can also be accessed during regular branch hours.

Please contact your branch for further details.

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RBC Royal Bank offers business credit cards to suit your business needs.

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