For business to business transactions requiring detailed purchase to purchase information along with each payment, Electronic Data Interchange (EDI) service delivers. Scotia EDI® service is for a wide range of organizations that initiate EDI purchase orders, settle many invoices and use PCs and LANs heavily in operations and administration.

Features

• Your Canadian or U.S. customers can transmit electronic payments in Canadian or U.S. Dollars.
  
  
• From line item detail to information on partial payments, your customers' remittances can provide the information you require for accurate account management and a complete audit trail.
  
  
• Scotiabank receives and processes incoming EDI payments and provides you with same-day value.
  
  
• The guaranteed funds are automatically deposited into your accounts and the remittance details are captured and reported to you either by fax or to your PC through Scotiabank's online information services, ScotiaConnect® online banking, ANSI X.12 format to the VAN of your choice, if you are fully EDI-capable.

Benefits

• Faster collections and improved cash management and forecasting with timely, guaranteed deposits.
  
  

• Integrate remittance data into your accounts receivable system with electronic reporting.
  
  
• Eliminate manual receivables data entry.
  
  
• Reduce cheque handling costs.

Next Steps

For more information about the Scotia EDI receiving service, please contact us.