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EFT Settings

SimplePay generates a single file containing everything your bank needs to make EFT salary payments to all your employees at once. You upload that file to your bank's dedicated software, or to internet banking. SimplePay doesn't pay your employees or connect to your bank directly.

Therefore, paying your employees is a two-step process:

  1. Set up your bank details and download the EFT file.
  2. Upload it to your banking platform to send the payment instructions to your bank for processing.

Filling in Bank Details

In order for SimplePay to generate an EFT file, you are required to fill in your primary banking information. To do so:

  1. Go to Settings > EFT.
  2. Click the drop-down next to EFT Format to select "SEPA" as the EFT format.
  3. Enter the Bank Reference/OIN or any other reference of your choice for this payment batch.
  4. Complete the rest of your Bank Account Details.
  5. Click Save.

Importance of IBAN and BIC numbers

The EFT export file allows EFT salary payments to any EU bank – as long as the IBAN and BIC are correct.

Our system performs validation checks on IBANs and BICs. For example, they must be entered without any spaces.

The BIC field is optional, but if you enter a code, it must be valid.

Additional Bank Accounts

In addition to the primary bank account mentioned above, you can add additional bank accounts. If you do this, it will allow you to select the specific bank account from which a Pay Point should be paid. To do so:

  1. Go to Settings > EFT.
  2. Click Add Bank Account under the Additional Bank Accounts heading.
  3. Enter a unique name to identify this additional bank account.
  4. Click the drop-down next to EFT Format to select "SEPA" as the EFT export format.
  5. Enter the Bank Reference/OIN or any other reference of your choice for this payment batch.
  6. Complete the rest of your Bank Account Details.
  7. Click Save.

Multiple accounts

You are able to add multiple additional bank accounts, which will appear in alphabetical order according to the chosen names.

Choose the additional bank account for the relevant pay point as follows:

  1. Go to Settings > Pay Points, and click on the relevant pay point.
  2. Tick the Not paid from Primary Bank Account box.
  3. Select the Additional Bank Account.
  4. Click Save.

Deactivating an additional bank account

To deactivate any of your additional bank accounts:

  1. Go to Settings > EFT.
  2. Under the Additional Bank Accounts heading, click on the name of the additional bank account.
  3. Click Deactivate > Confirm.

The additional bank account will then move to the Inactive list at the bottom of the screen.

Downloading the EFT Payment File

After you have entered your EFT settings, you can download the payment file as follows:

  1. Go to Pay Runs.
  2. Click the EFT Export arrow ( ) (under the EFT heading).
  3. Confirm that the Value Date is correct.
  4. Click Download.

The file that is generated can then be uploaded to your banking platform or software.