December 2018In this issue:
- Holiday Bonuses
- Holiday Hours
- New Clients
- Make Payments on your Website
- Season for Fraud
- Wire Drawdown Benefits
- Extraordinary Bank
- Kotapay has 6 AAPS!
Did you know?One of the best ways to avoid business email compromise is to teach employees what to spot and to be leery about any email attachments or links.
Customer Support TipsPlease be sure that you and your customers are using the most current Wire Instructions. instructions are available online underneath Documentation > Wire Instructions.
Kotapay CalendarDrake Software Update School
January 11-12th, 2019
IPPA Sales & Marketing
February 25-27th, 2019
Las Vegas, NV
Be mindful that Holiday Bonus transactions may cause a delay
As a reminder, Kotapay'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
- Process the file on a 5-day window (please contact Operations to make arrangements)
- Learn more
Upcoming Holiday Hours and Non-Processing Days
Kotapay will be closed starting at 12:00pm (Noon) CST on Monday, December 24th through Tuesday, December 25th for the Christmas holiday. Kotapay will also be closed on New Year's Day, Tuesday January 1st.
Setting up new payroll clients: allow 24-48 hours
The busiest time of year for setting up new clients is December and January and it may take a little longer than normal. Please be sure to allow 24-48 hours before sending any files. Sending in complete paperwork will also help to speed up client set ups.
Add a Pay-Now Button to Your Website
Kotapay will design and build a custom payment portal to allow you to accept credit card or ACH payments via your website. Get started!
Tis the Season for Fraud
With the holiday season upon us, fraudsters also ramp up their efforts hoping you won't notice until it's too late. Be on alert for payroll fraud! As the processor, it is your responsibility to cover the lost funds so it's important to be diligent and know your customer.
What information are you collecting from your customers to verify their identity?
To avoid potential fraud losses and ensure you are conducting business with legitimate customers, we recommend collecting the following information from your customers:
- Physical address of the owner(s)
- Date of birth and SSN
- A copy of government issued ID
- Employee accounts that 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...
Additional Benefits of Using Wire Drawdown
Kotapay's wire drawdown service allows you, the processor to apply parameters for when you require your clients to process a wire drawdown. One example is a specific dollar amount that once exceeded, would automatically trigger a wire drawdown.
In addition to using this service working for Payroll Direct Deposit, parameters can also be applied for Tax Payments, Vendor Payments and Net Pay Impound. Contact the Support Department to get started using this wire drawdown service.
First International Bank & Trust was Recently Named the Top Extraordinary Bank in the United States
We are proud to announce that we're a part of First International Bank & Trust, who recently won the Top Extraordinary Bank in the United States at the Best Banks in America Super Conference by the Institute for Extraordinary Banking™.
This national honor was awarded for exemplary performance in five areas of banking: philanthropy, customer service, thought leadership, workplace culture, and financial literacy education.
Kotapay now has 6 Accredited ACH Professionals!
Congratulations to Rachael Martinson, Risk Analyst, for passing the AAP (Accredited ACH Professional) Exam! An AAP is an individual who has comprehensive knowledge of all areas of ACH and a broad knowledge of concepts that relate to the payments system as a whole. Kotapay now has 6 AAPs on staff including: Brian Dresser, Candi Rupprecht, Leanne Jung, Christy Stock and Connie Mosier.