December 2021In this issue:
- Note from Jim
- High Dollar Reminder
- Holiday Hours
- New Payroll Clients
- Pay Now Button
- Fraud Corner
- 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 TipsTo view if your client has been set up, simply go to Reports > Other > Active Company Report.
ACH RulesStay 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.
VideoHear what customers have to say about Kotapay! Watch 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!
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:
*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 24th|
|Files must be submitted by 1:00pm CT.||ACH transactions can still be dated for December 24th.|
|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 31st.|
|Monday, January 17th|
Martin Luther King Jr. Day
|Kotapay will be open for normal processing hours.||ACH files can be uploaded but cannot be dated for January 17th, no credits/debits will be processed.|
Setting up new payroll clients: please allow 48-72 hoursThe 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 1st, 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.
KotaConnect has replaced Jolokia
With the launch of KotaConnect earlier this year, Jolokia will no longer be available after April 1st, 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.|
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!