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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:

Please contact Operations to make arrangements when sending large dollar files.

To ensure everyone gets paid on time, click here.

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Upcoming Holiday Hours and Non-Processing Days

		Thursday, December 24th	Accept files until 1:00 pm CT
		Friday, December 25th	Closed
		Thursday, December 31st	Accept files until 6:00pm CT
		Friday, January 1st	Closed

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Setting up new payroll clients: please allow 48-72 hours The busiest time of year for new client set-ups is December and January. Client set-ups may take longer than normal so be sure to allow 48-72 hours before sending files. As a reminder, ALL fields are required on the Customer Information Form. Please send in complete paperwork to ensure timely client set up. Using e-contracts (Docusign), will also help avoid incomplete paperwork and expedite setup. To view all of your active clients, log in to the Kotapay website and go to Reports > Other > Active Company Report

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Reminder on Nacha Rules Change to Reversals & Adjustments

Reversals will only be honored for the exact dollar amount of the entry. If an adjustment is necessary, it must be accompanied by an authorization form. As a reminder, per Nacha rules, Reversals and adjustment requests must be received within 5 days of the Settlement Date.

Nacha has been closely monitoring Reversal activity the last few years and has provided more clearly defined guidance to better understand the rule. The purpose of the rule is to deter and prevent the improper use of “Reversals” and the potential harm that can impact the consumer. Find out more about this rule by visiting Nacha’s website here.

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Updating Your Kotapay Password Every 90 Days Your Kotapay password will be expiring soon. As an additional level of security, you will be prompted to update your password every 90 days. You will begin seeing notifications as your current password nears the expiration date.

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Tis the Season for Fraud – now more than ever

With the holiday season upon us, fraudsters are ramping up their efforts hoping you won’t notice until it’s too late. Unfortunately, fraudsters are also taking advantage of the COVID-19 pandemic. Therefore, it’s more important than ever to increase security measures. 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. A few red flags to watch for:

• 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
• Use out-of-band authentication
• And more....

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Check out what some of our customers have to say about Kotapay!

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Additional Benefits of Using Wire Drawdown

Kotapay’s wire drawdown service allows you, the processor to apply rules for your clients when a drawdown should occur. This rule can be a specific dollar amount that once exceeded, would automatically trigger a wire drawdown. For example, the rule is that your client can submit a payroll up to $25,000, therefore any payroll batch exceeding $25,000 would automatically trigger a drawdown request for those payroll monies.

In addition to this service working for Payroll Direct Deposit, rules 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.