Banks
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

BDC pay off

Advertiser Disclosure

The BDC payment system is a pivotal tool for businesses across Canada, providing a seamless platform for managing financial transactions efficiently. Designed to cater to a variety of payment needs, the BDC payment system enables users to initiate payments, track transaction history, and manage payment schedules with ease. From vendor payments to payroll processing, the system offers flexibility and convenience, empowering businesses to maintain healthy cash flow and meet their financial obligations promptly.

In addition to its user-friendly features, the BDC payment system prioritizes security, implementing robust measures to protect sensitive financial information and prevent unauthorized access. Encryption protocols, multi-factor authentication, and stringent access controls are among the security features deployed by the system, ensuring the integrity of financial transactions. With the BDC payment system, businesses can confidently conduct their financial operations, knowing that their transactions are secure and their financial data is protected.

Make payments online through the BDC bank account

  1. Log In to Your BDC Account. Begin by logging in to your BDC Client Space account using your username and password. Access the BDC website through a web browser on your computer or mobile device, and navigate to the login section.

  2. Access Payment Options. Once logged in, navigate to the payment or transfer section of your BDC account dashboard. This is typically found in the main menu or navigation bar, labeled as "Payments," "Transfers," or similar.

  3. Choose Payment Type. Select the type of payment you wish to make from the available options. This could include vendor payments, bill payments, payroll processing, or customer invoicing, depending on your specific needs.

  4. Enter Payment Details. Enter the necessary details for the payment, including the recipient's name, account number, and payment amount. If making a bill payment, you may also need to enter additional information such as account numbers or invoice references.

  5. Verify Payment Information. Double-check the payment details you've entered to ensure accuracy. Verify the recipient's information, payment amount, and any additional details to avoid errors.

  6. Select Payment Date. Choose the date you want the payment to be processed. You may have the option to schedule the payment for a future date or process it immediately, depending on your preferences and the payment type.

  7. Review and Confirm. Review the payment details one last time before confirming the transaction. Ensure everything is accurate and correct, then proceed to confirm the payment.

  8. Authorize Payment. Depending on BDC's security protocols, you may need to authorize the payment using a token, passcode, or other authentication method. Follow the prompts to complete the authorization process.

  9. Receive Confirmation. Once the payment is successfully processed, you should receive a confirmation message on the screen or via email. This confirms that your payment has been submitted and will be processed accordingly.

Make payments through the BDC app

  1. Download and Install the BDC App. Start by downloading the BDC mobile banking app from the Apple App Store for iOS devices or the Google Play Store for Android devices. Search for "BDC Mobile Banking" and install the app on your smartphone or tablet.

  2. Log In to Your BDC Account. Open the BDC app on your device and log in using your username and password. If you haven't registered for mobile banking yet, you may need to do so by following the on-screen prompts to create an account.

  3. Navigate to Payment Options. Once logged in, navigate to the payment or transfer section of the BDC app. This is typically located in the main menu or navigation bar and may be labeled as "Payments," "Transfers," or similar.

  4. Choose Payment Type. Select the type of payment you wish to make from the available options. This could include vendor payments, bill payments, payroll processing, or customer invoicing, depending on your specific needs.

  5. Enter Payment Details. Enter the necessary details for the payment, such as the recipient's name, account number, and payment amount. If making a bill payment, you may also need to enter additional information such as account numbers or invoice references.

  6. Select Payment Date. Choose the date you want the payment to be processed. You may have the option to schedule the payment for a future date or process it immediately, depending on your preferences and the payment type.

  7. Review and Confirm. Review the payment details carefully to ensure accuracy. Verify the recipient's information, payment amount, and any additional details before proceeding.

  8. Authorize Payment. Depending on BDC's security protocols, you may need to authorize the payment using a token, passcode, or other authentication method. Follow the prompts on the app to complete the authorization process.

  9. Receive Confirmation. Once the payment is successfully processed, you will receive a confirmation message on the app. This confirms that your payment has been submitted and will be processed accordingly.

Additional resources

Sources

FAQ

How long does it take BDC to receive payment?

The time it takes for BDC (Business Development Bank of Canada) to receive a payment depends on various factors, including the payment method used, the recipient's bank, and any processing times involved. For payments made electronically or through BDC's online banking system, transactions are typically processed swiftly, often within one to two business days. However, payments made via cheque or other traditional methods may take longer to process, as they require physical processing and transit time. Additionally, international payments may take longer due to currency exchange and international banking processes.

How do I add a bill payee to my BDC account?

Adding a bill payee to your BDC account is a straightforward process that can typically be done through BDC's online banking platform or mobile app. Start by logging in to your BDC account and navigating to the bill payee section, which is usually found within the payments or transfers menu. From there, select the option to add a new bill payee and provide the required information, such as the payee's name, account number, and billing address. Once you have entered the necessary details, review and confirm the information before finalizing the addition of the bill payee to your BDC account. This allows you to conveniently make payments to the added payee whenever needed.

Can make a BDC payment over the phone?

While BDC primarily encourages customers to use its online banking platform or mobile app for making payments, it may also offer phone banking services for certain transactions. However, the ability to make a BDC payment over the phone may vary depending on factors such as the type of payment, security considerations, and BDC's current service offerings. If phone banking services are available, customers can typically contact BDC's customer support team and follow the prompts to make a payment over the phone. Additional verification steps may be required to ensure the security of phone-based transactions.

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