Payroll Payment Methods
KeyLink’s Payroll Payment Methods
KeyLink offers 4 methods to pay your staff and the IRD. You can even use one method to pay your staff and another to pay the IRD.
We know that cash flow is an issue for most companies, so we leave the money in your account until we need it to make a payment.
We charge $15 to prepare an employee payment file and $30 to prepare an IRD payment file.
You may also be charged bank fees depending on the payment method you use.
Hear what our clients have to say
I don’t want to worry about a thing, and I have an ANZ bank account
Most of our customers want KeyLink to look after all payments and ANZ have an easy way to achieve this.
Once you have approved your payroll, KeyLink generates and sends a bank file to ANZ using their File active service.
Money leaves your account within an hour of KeyLink sending the bank file.
Money is credited to you employees’ accounts in the next hourly inter-bank run and is available to withdraw when it arrives.
Cost: We pass on ANZ fees of $4.00 per batch + 25c per transaction with our invoice each month.
Typical set up time is 1 week from getting all the appropriate documentation; however, we can use one of the other methods in the meantime. KeyLink needs to perform Customer Due Diligence.
I don’t want to worry about a thing, and I have an ASB bank account
Most of our customers want KeyLink to look after all payments and ASB have an easy way to achieve this.
Once you have approved your payroll, KeyLink generates and sends a bank file to ASB using their ASB Direct service
Money leaves your account within an hour of KeyLink sending the bank file.
Money is credited to you employees’ accounts in the next hourly inter-bank run and is available to withdraw when it arrives.
Cost: We pass on ASB fees of $3.25 per batch + 21c per transaction with our invoice each month.
Typical set up time is 1 week from getting all the appropriate documentation; however, we can use one of the other methods in the meantime. KeyLink needs to perform Customer Due Diligence.
I don’t want to worry about a thing, and I have a BNZ bank account
Most of our customers want KeyLink to look after all payments and BNZ have an easy way to acheive this.
Once you have approved your payroll, KeyLink generates and sends a bank file directly to BNZ using their File Transfer service.
Money leaves your account within an hour of KeyLink sending the bank file.
Money is credited to you employee’s account in the next hourly inter-bank run and is available to withdraw when it arrives.
Cost: BNZ charges $3.25 per batch + 18c per transaction.
Typical set up time is 1 weeks from getting all the appropriate documentation; however we can use one of the other methods in the meantime. KeyLink needs to perform Customer Due Diligence.
I don’t want to worry about a thing, and I have a Westpac NZ bank account
Most of our customers want KeyLink to look after all payments and Westpac have an easy way to acheive this.
Once you have approved your payroll, KeyLink generates and sends a bank file directly to Westpac using their Managed File Transfer service.
Money leaves your account within an hour of KeyLink sending the bank file.
Money is credited to you employee’s account in the next hourly inter-bank run and is available to withdraw when it arrives.
Cost: We charge $4.00 per batch + 25c per transaction. Westpac charge fees specific to your account. Contact your account for more details.
Typical set up time is 1 weeks from getting all the appropriate documentation; however we can use one of the other methods in the meantime. KeyLink needs to perform Customer Due Diligence.
I like to make payments myself, and have a NZ bank account – Bank File
Some of our customers need to manage their cash flow very closely and/or want to have complete control over the timing of payments.
KeyLink generates and e-mails you a bank file in specific format for your bank.
You upload into your Internet or Desktop banking application, approve and send.
Cost: Your bank charges its normal fees
Notes: NZ bank accounts only.
I don’t want to worry about a thing, but I don’t have a NZ bank account – Commercial Trust Account
This option is popular with our overseas employers as it minimises International Bank Transfer fees. It is also useful for customers who like to keep have a separate account for payroll related costs that they can’t easily access.
KeyLink operates Commercial Trust Account at BNZ File Transfer on your behalf. Each customer using this service has their own account.
KeyLink uses BNZ to facilitate payment, fees are charged to on your invoice
Cost: $100 per month + BNZ fees of $3.25 per batch and 18c per transaction.
Notes:
- KeyLink needs to perform Customer Due Diligence. to meet requirements of Anti-Money Laundering and Counter Financing of Terrorism legislation.
- Cleared funds must be available before bank file is sent to AMSL for payment.
- KeyLink guarantees on-time payments if cleared funds are available.
I like to make payments myself, and don’t have a NZ bank account – Pay from Reports
Employer makes payment from reports.
This option is generally used by overseas employers, or employers with very small payrolls.
Many of our customers use Foreign Exchange services to make these payments.
Cost: Your bank charges its normal fees.
Customer Due Diligence
To meet the requirements of Anti-Money Laundering and Counter Financing of Terrorism legislation, KeyLink is required to perform Customer Due Diligence (CDD) on customers who use AMSL or a Commercial Trust Account.
AMSL is also required to perform CDD on their customers.
We will ask you to use another method of payment until CDD is complete.
The process for CDD will depend on the type of organisation you are. Typical time to complete is 2 weeks. The basic steps are:
- Collect basic information about your organisation
- We determine who we will need to identify from your organisation and how we will determine your “source of funds”.
- For individuals we have to identify, we will require certified copies of your:
- Identity Documents
- Proof of residence