Organisation : Netcash
Facility Name : Salary Payment Service
Country : South Africa
Website : https://netcash.co.za/services/salary-payments/
What is Netcash Salary Payment Service?
Netcash’s salary payments service integrates seamlessly with multiple payroll software providers, making payments a simple, secure, and effortless process. No matter the bank or number of payments, you have peace of mind knowing that salary payments will be processed securely and on time with our payroll payment solutions.
Related / Similar Facility : Netcash Creditor Payment Service
Features of Netcash Salary Payment Service
| Feature | Netcash Salary Payments | Traditional Payroll Payments |
|---|---|---|
| Speed | Same-day & Dated payments available | Usually takes 2-3 days |
| Security | OTPs & 2FA authentication | Manual approvals prone to errors |
| Automation | Integrated with payroll software | Requires manual bank uploads |
| Error Handling | Real-time bank account validation | No built-in validation |
Why Choose Netcash For Salary Payment Service?
Save Time:
Avoid unnecessary last-minute payment rejections with bank account validation. Now, you have the confidence that all payments will be received on payday.
Extra Security:
You have full control over levels of access and the number of authorisers per payment batch. Use One Time Pins (OTPs) or 2 Factor authentication to release salary payments.
Lock Batches:
Payment batches created on Netcash or uploaded via Payroll software can be locked for editing. This ensures that no changes can be made once payroll has been finalised.
Greater Flexibility:
Choose between Dated and Same Day payments. Dated payments ensure that all of your salary payments reflect in the employees’ accounts at the same time, on the same day. Same Day payments are great for last-minute salaries. Real-Time Clearance (RTC) clears funds in 15 minutes – perfect for emergencies and cash flow control.
Be In Control:
Stay in the loop. Netcash provides you with extensive reporting including statements, batch, and audit reports as well as payment notifications, so that you can keep your fingers on all aspects of payroll.
Increase Accuracy:
Accuracy is of utmost importance when making payments. By choosing integrated software the batch received by Netcash is an exact representation of what was created in Payroll.
FAQ On Netcash Salary Payment Service
Frequently Asked Questions FAQ On Netcash Salary Payment Service
Can I make salary payments to employees?
Yes, you can process secure salary payments through Netcash, either via direct upload or by integrating with payroll software. Choose between Same-Day, Dated, or Real-Time Clearance (RTC) salary payments to ensure on-time payments for all employees, regardless of their bank.
Can I schedule recurring salary payments?
While you can schedule separate payment batches up to 4 months in advance of when they will be paid, you are not able to schedule a single, recurring salary payment batch each month for example. This is because of the varying nature of a company’s payroll – anything could change per employee from month to month such as bank account details, payment amount, employment status, etc.
What are the cut off times for salary payments?
Payment Cut-Off Times:
Same day payments batch:
** Funds will be available in the beneficiaries bank account the next day, value-dated for the (same day) payment date.
** The processing cut-off time is 13h00 on the payment day.
** Valid payment dates are Monday to Friday (excluding public holidays).
Dated payments batch:
** All payments are reflected in all accounts on the payment day.
** Processing cut-off time is 13h00 one business day before payment day and 13h00 on Friday for Saturday and Monday’s batches.
** Valid payment dates are Monday to Saturday (excluding public holidays).
How many authorisers do I need to set for a payment batch?
You can set any number of users on your Netcash account as an authoriser. Get in touch with your account manager to set this up.