Note: This payment type only applies to Ontario brokerages.
This is the next milestone in the gradual rollout of EFT support for client and third party payments, covering the "Excess Funds Payment to Seller". This payment type was formerly known as "Excess to Seller" or simply "Seller" — we've clarified and standardized the naming.
If a listing deal client has valid bank account information in their profile (note that a valid email address is required for a client prior to adding a bank account), RealDesk will prompt to create an EFT for the excess funds balance calculated from the conveyance / commission statement.
We've also added an Excess Funds Letter on brokerage letterhead for cases where you may still need to use a cheque. This PDF can be accessed by clicking on the Actions button next to the excess funds payment on the Send/Receive Payments screen.