December 2015In this issue:
- Holiday Bonuses
- Updated Agreements
- Holiday Hours
- Payroll Fraud
- InterceptEFT Provides Scholarships
- Policy on Marijuana
- Same Day ACH
- Employee Spotlight
Did you know?Long associated with wintry Christmas cheer, "Jingle Bells" was originally written for a Thanksgiving celebration.
Customer Support TipsTo access the most up-to-date contracts, log in to our website, click on Documentation and then Agreements.
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Be mindful that Holiday Bonuses may cause a delay in service
As year-end approaches, so do holiday bonuses and high dollar payroll files. As a reminder, InterceptEFT's procedures regarding payroll over $500,000 per payroll or $100,000 to an individual will require additional action on your part. The following options are available:
- To ensure everyone gets paid on time, Click here.
- Send a Wire
- For Wire Drawdown customers, the Wire Drawdown request must be received by 9:00am CST on December 24th for a December 28th pay date.
- For a Standard Wire, the request must be received by 12:00pm CST on December 24th for a December 28th pay date.
- Process the file on a 5-day window
- Learn more
** Updated Agreements **
InterceptEFT has updated our agreements. Please ensure you are using the most updated versions of our agreements. To view our most up-to-date version, simply log in to our website, under the Documentation tab, you will see Agreements.
Upcoming Holiday Hours and Non-Processing Days
InterceptEFT will be closing at 12:00pm CST on Thursday, December 24th through Friday, December 25th. ACH files need to be uploaded by 12:00pm CST to be dated for Thursday, Dec. 24th. Files uploaded after 12:00pm CST on Thursday, Dec. 24th, will not be processed until Monday, December 28th.
Payroll Fraud is on the Rise
The industry has seen a number of instances of potential fraud recently, and would like to remind everyone to be on alert. As the processor, it is your responsibility to cover the lost funds so it's important to be diligent and know your customer.
- Employee accounts are PAYCARDS
- Hurried set-up requested by new payroll customer
- Communication only via email from payroll customer or communication that seems abnormal
- Customer and its employees are in geographically diverse locations
- And more…
Be diligent about protecting your business by knowing your customer! To learn more and to find solutions click here.
InterceptEFT Provides ScholarshipsInterceptEFT, along with generous partners and supporters of the 2015 InterceptEFT Golf Extravaganza, presented a check in the amount of $12,000 to Sanford Health Foundation to provide medical-related scholarship opportunities.
Pictured are: Addie Nohr (InterceptEFT), Kristi Huber (Sanford Health Foundation), and Connie Mosier (InterceptEFT)
InterceptEFT's Policy on Marijuana
It is InterceptEFT's policy not to provide services, including processing and payroll processing, to businesses in the illegal narcotics and drug paraphernalia industries. Although some states have made it legal to sell marijuana in certain situations, including medical marijuana, our policy has not changed. InterceptEFT will not process payments for any business that distributes marijuana, even medical marijuana or marijuana that is legal under state law. If you have any questions, please contact the InterceptEFT Risk Department.
Federal Reserve Approves Same Day ACH Transactions
|Christy Stock - COO Christy is celebrating her 20th year at InterceptEFT! Christy oversees the Support and Operations departments and I'm sure many of you have had the opportunity to communicate with her. Christy's favorite part of working at InterceptEFT is getting to speak with the customers and learning how they are growing their business and of course the top-notch staff she gets to work with every day. Christy's knowledge of our customers and the industry is unmatched, making her a valuable member of the InterceptEFT team.|
When she isn't working (which isn't very often!) she enjoys spending time outdoors at her family farm working in the garden, woodworking, and riding around on her green tractor. She also enjoys watching her football team, the Green Bay Packers - Which is pretty brave around North Dakota/Minnesota where most of the state is a Vikings fan.