Olympia Trust offers secure, cost-effective payment and settlement solutions so that your funds can efficiently reach their destination. Not sure which solution is right for you? Speak with an Analyst today!
Olympia Trust offers secure, efficient and cost-effective solutions to pay your beneficiaries. Our EFT Team processes multiple batches throughout the day to give you early access to all of your payment confirmations.
PAD-ACH Payments
PAD-ACH payments are an efficient and cost-effective method to electronically transfer funds to a US-based USD account.
Processing times
If your secure settlement is reconciled before 3pm MST, your ACH payment will be initiated that day. The beneficiary can expect the funds in approximately 1–3 business days, as processing times vary depending on the receiving bank.
A PAD-EFT is a convenient way to move funds between accounts or to send quick payments to your beneficiary's account within Canada.
Processing times
If your secure settlement is reconciled before 3pm MST, your EFT payment will be initiated that day. The beneficiary can expect the funds in approximately 1-2 business days, as processing times vary depending on the receiving bank.
In cases where your secure settlement is reconciled before 11:30 am MST and the beneficiary bank is a larger institution, a Canadian Dollar EFT may credit the beneficiary account the same-day.
Wires are a quick and secure global payment method, typically sent via the SWIFT network.
Processing times
If your secure settlement is reconciled before 2pm MST, corresponding payments within Canada and the US will typically credit the beneficiary’s account the same business day. International payments can take anywhere from 2-4 business days depending on the jurisdiction and the currency.
Fees
Olympia Trust charges $15* per wire. Typically the beneficiary’s intermediary and receiving bank will also charge a wire processing fee; this is unrelated to Olympia’s cost.
*Please note that fees are subject to change at any time.
Applicable currencies
Purchase over 100 currencies with Olympia CGP. Liquidity access ranges from the G10 to exotic currencies accepted worldwide.
Select The Right Solution For Your Business
Selecting the right payment and/or settlement method may seem overwhelming. Depending on your timeline, budget and transaction details, a recommendation can be made by an Analyst.
Settle your transactions via one of Olympia’s secure electronic settlement methods. Our EFT Team closely monitors each of our various accounts to ensure your settlement is received and reconciled as timely as possible. As soon as your settlement is reconciled, our payments team begins processing.
Bank Transfer
A bank transfer is a reliable method to transfer funds from your Canadian based account to one of ours (TD, CIBC, ATB, RBC, BMO and National Bank). This can be done at a branch with a teller, or depending on your banking relationship can be facilitated with your banking account manager.
To securely and efficiently reconcile your transfers, the bank must process the transfer per the directions on Olympia Trust’s transfer form. Returning the completed form to Olympia Trust notifies our team that your payment has been sent, and ensures that the funds are applied to your corresponding trust account.
Fees
No applicable fees
Processing times
Transfers are typically received within the hour. If supporting documents are not received, reconciliation times may vary.
Applicable currencies
CAD | USD
Bill Payment
Bill payments are a quick and secure method to pay for your transactions via online banking. Most major Canadian banks and many Canadian credit unions provide access to online bill payments.
Note: Transaction limits may apply. If your transaction exceeds the banking limit, most financial institutions allow you to process multiple bill payments consecutively.
Fees
No applicable fees
Processing times
Payments sent before 4pm MT are typically received the next business day.
Applicable currencies
CAD
Wire
Wires are a quick, secure and reliable way to settle a transaction from anywhere in the world, either at a branch or via your online banking.
Fees
Wire fees charged at the banking level can vary significantly and typically include an additional intermediary bank fee. To ensure your wires to Olympia Trust are reconciled accordingly and do not arrive short-paid, you must ensure the wire charges are set to the sender and not the beneficiary.
Processing times
Payments made within Canada and the US. can credit our account as quickly as within the hour or up to 24 hours, depending on your bank. International payments may take a number of days. Refer to your bank’s wire cut off schedule to determine the expected value date.
A PAP is a convenient method to settle your corporate transactions upon booking. PAPs allow automatic payments to be debited from your CAD or USD bank account on a transactional or one-time basis.
An application and supporting financial documents are required; eligibility conditions and PAP limits apply.
Fees
No applicable fees
Processing times
Canadian dollar PAP’s processed before 12pm MST are typically received the following business morning. All other PAP’s can take 2-3 business days.
Are you expecting a payment in that needs to be exchanged? Olympia Clients can request a Third Party transfer or wire form to have their senders pre-approved and on-boarded to their account. In order for the funds to be reconciled and applied to your account, ensure the sender includes the Client name and address as it appears on your Olympia Trust Account in the payment details.
Note: Compliance reviews and limitations apply. Depending on the outcome, additional information or documentation may be required.
