Bank Payment Rules for Canadian Merchants
If you are a Canadian Merchant accepting Bank Payments from customers, there are some additional rules and regulations that will apply to you.
Please be aware that:
- The first bank payment for a new customer will be completed three business days after they complete the PAD Authorization Form
- If you edit the Bank Account Holder Name, Helcim will send a notification to the customer and funds will not be pulled from that account for 3 business days after the change is made
- Your customer can cancel the PAD Agreement at any time, provided they give 30 days notice before the next debit
Please note that these guidelines are not to be considered an exhaustive list of Payment Canada rules and regulations for bank payments. For complete details or specific questions, please refer to the Payments Canada website.