Want to know how to create a SureFund Deal? View the steps HERE.
DISBURSEMENT TIPS:
✓ Use a Payee from the SureFund database whenever possible, to ensure a smooth
transaction.
• Often Payees are not included in the database using an acronym, so be sure to search
for the name in full. For example, search for Royal Bank instead of RBC.
• Banks or other Financial Institutions may have only one address in the SureFund
Database as these Payouts are often sent to a Central Processing Unit.
✓ Wondering when the disbursement funds will reach the Payee?
Review the Green Information Bar provided on the Disbursement Details Screen to find out:
• The Payee’s required documentation.
• When the funds will be delivered to the Payee.
• How long it may take for a Payee to process the funds.
• If the funds will be sent to a Central Processing Unit.
TIP! You cannot override the direction of funds Payments to Banks that are presented
in the Green Information Bar.
✓ Avoid Payment delays: Double check all the entered information is correct.
TIP! The uploaded documents are only provided in a package to the Payee—
there is no manual comparison done by SureFund between the documents and the
information that is entered into the system for disbursement.
✓ Using the Disbursement Type OTHER:
• The “Other” disbursement type should be used for Payouts to individuals, Law Firms, or
small businesses not included in the SureFund Database.
• Do not enter Bank or Financial Institution Mortgage or Loan Disbursements as “Other”.
• It is not possible to use the “Other” disbursement type to override the direction of funds
provided in the Green Information Bar (i.e. to direct the funds to a Bank branch instead
of the Central Processing Unit).
✓ When setting up a Wire disbursement, it is necessary to include the exact information for the receiving account, including:
• The exact Bank Account holder name(s).
• Accurate transit/bank number/account number information. We recommend only using a void cheque or Direct Deposit form to gather this information.
TIP! There is an additional $15+HST fee charged for wire disbursements
✓ Uploaded documents: make sure the file name is less than 30 alphanumeric characters and doesn’t include any special characters (including apostrophes and French accents).
Click the Link below to download a PDF copy of this checklist!