Kotapay - The Pulse

December 2021

In this issue:

Note from Jim
High Dollar Reminder
Holiday Hours
New Payroll Clients
KYC
Pay Now Button
Fraud Corner
KotaConnect
Returns Updated
Action Required

Did you know?

The Kotapay Help page consists of several help documents, including fraud resources and how-to videos.

Customer Support Tips

To view if your client has been set up, simply go to Reports > Other > Active Company Report.

ACH Rules

Stay up-to-date with the most current NACHA Rules. The NACHA Rules are available for FREE online by simply setting up a Basic User account. Click here.

Video

Hear what customers have to say about Kotapay! Click here.

All of us at Kotapay want to express our sincere gratitude and best wishes this holiday season. We are grateful for the opportunity to work with each of you, appreciate your continued business and the trust you have placed in us. Electronic payments nationwide have seen strong growth this year and we continue to see this growth with our customers. We wish you a happy holiday season and look forward to a successful 2022!

Jim Haug
Director of Kotapay

Be mindful that holiday bonus transactions may cause a delay

Kotapay’s policy regarding high dollar files

As a reminder, Kotapay’s procedures regarding payroll over $500,000 per company* or $100,000 to an individual* will require additional action on your part. The following options are available:

Send a Wire
Process the file on a 5-day window

*Please contact Operations to make arrangements when sending large dollar files or if you have any questions. To ensure everyone gets paid on time, click here.

Upcoming Holiday Hours and Non-Processing Days

Mark your calendar for Kotapay’s upcoming holiday hours and non-processing days. Please plan ahead and allow an extra day for processing if the pay date falls on a federal holiday.

View all federal holidays here and mark your calendar for Kotapay’s upcoming hours of operation. As a reminder, ACH transactions cannot be dated for a federal holiday (no debits or credits to an account on that date).

Date	Hours of Operation	Processing Notes
Friday, December 24^th Christmas Eve	Files must be submitted by 1:00pm CT.	ACH transactions can still be dated for December 24^th.
Friday, December 31st New Year’s Eve	Normal processing until 5:00pm CT. Wires must be received by 3:00pm CT.	ACH transactions can still be dated for December 31^st.
Monday, January 17^th Martin Luther King Jr. Day	Kotapay will be open for normal processing hours.	ACH files can be uploaded but cannot be dated for January 17^th, no credits/debits will be processed.

Setting up new payroll clients: please allow 48-72 hours

The busiest time of year for new client set-ups is December and January so they may take longer than normal. Please allow 48-72 hours before sending files for new clients. We appreciate your patience.

REMINDER: Make sure you are using the most updated version of the Company Authorization Agreement (dated 6/21 at the bottom). Log in to Kotapay.com or view the current version here. Please save the URL, not the PDF to ensure it’s always the most current. Older versions of the Agreement will no longer be accepted as of March 1^st, 2022.

ALL fields are required. Submitting complete paperwork will allow for timely client set up. Using e-contracts (Docusign), will help to avoid incomplete paperwork.

Annual KYC Assessment

To stay in compliance with Nacha and the Patriot Act, Kotapay is required to follow Know Your Customer (KYC) requirements. Each year, we ask you to complete the Annual KYC Assessment available on Kotapay’s website.

If you see an ACTION REQUIRED message when logging in to our website, please complete this assessment as soon as possible. If you currently don’t see the message, thank you for completing your annual assessment. Effective February 1st, 2022, failure to complete this assessment will result in the inability to upload files, view reports, etc until the assessment is completed.

Fraud Corner: Email Red Flag Training

Learn how to help protect your business from potential fraud by knowing when to be extra cautious. Business Email Compromise (BEC) is a growing trend to be on the lookout for, especially when processing payroll for clients. Watch this video to learn how to spot red flags.

Stay diligent about verifying payroll requests and learn more about BEC by watching this short video or visiting the FBI’s website.

KotaConnect has replaced Jolokia

With the launch of KotaConnect earlier this year, Jolokia will no longer be available after April 1^st, 2022. KotaConnect is an easy-to-use web-based payment portal to manage ACH and credit card transactions.

We’re continuously looking to improve KotaConnect so please reach out to our Support Department with any improvements or features you would like to see.

Want to accept payments from your website? 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!

Updated Process for Returns

Please note that our process has changed in regards to uploading Xcelerated return removal letters. You can now upload your letters or bank verification by going to Other Services > Xcelerated Return Removal. You will be prompted to fill out the new online form and upload your document.

This new process was put in place so our Returns Team can remove the Xcelerated holds on flagged accounts more efficiently. If you have any questions please reach out to the Returns Department.

Action Requested: Verify bank account numbers

Please take a moment and verify the bank account numbers Kotapay has on file for your company. Simply log in and go to Reports > Other > Company Accounts Report. If anything is incorrect, submit a Revised Customer Information form so we can update our records. Thank you for your help!