About Us
About DCBank
A bank dedicated to meeting the evolving payment needs of its clients
Founded in 2007, DCBank is a Schedule 1 Canadian chartered bank. Our mission is to provide innovative payment and banking solutions to our clients. Our proprietary solutions offer our clients efficiency, flexibility and convenience when it comes to their banking and payments needs. DCBank works closely with its clients, providing personalized service and customized programs that deliver increased value and competitive advantages to our clients.
DCBank is regulated by the Office of the Superintendent of Financial Institutions, is a member of the Payments Canada, and is a principal member of Interac®, Visa® and MasterCard®.
History and Growth
DCBank was incorporated on October 3, 2007 as a Schedule I bank under the Canadian Federal Bank Act, and on January 24, 2008, the Federal Superintendent of Financial Institutions authorized DCBank to carry on business. The bank was originally incorporated to be a strategic partner with and facilitate growth of the prepaid card and payments business of DirectCash Payments Inc. (DCPayments), a publicly traded financial services company. Since our founding in 2007, DCBank has grown from a bank with limited products provided for DCPayments to a diversified financial services company, providing diverse financial and payment solutions to individuals and businesses across Canada.
We are proud of what makes us unique, including our emphasis on customer service and in-depth payments expertise. For more than 10 years, we’ve remained dedicated to our customers and committed to payment solutions.
CDIC
Canadian Deposit Insurance Corporation
DCBank is a member of the Canada Deposit Insurance Corporation (CDIC), a federal Crown corporation that contributes to the stability of the Canadian financial system by providing deposit insurance against the loss of eligible deposits at member institutions in the event of failure. CDIC insures Canadians’ eligible deposits to a limit of $100,000 per insured category at each CDIC member financial institution. CDIC is not a bank or a private insurance company.
The following products are eligible for deposit insurance from the CDIC, subject always to maximum coverage limitations as outlined in their brochure “Protecting Your Deposits” and provided they are in Canadian funds, are payable in Canada and have a term of no more than five years.
View CDIC Brochure "Protecting your Deposits"
For further information, please contact CDIC at 1-800-461-CDIC.
Regulatory
DCBank is regulated by the Office of the Superintendent of Financial Institutions of Canada (OSFI) and the Financial Consumer Agency of Canada (FCAC).
The Office of the Superintendent of Financial Institutions of Canada (OSFI)
OSFI is an independent agency of the Government of Canada that supervises and regulates federally registered banks and insurers, trust and loan companies, as well as private pension plans subject to federal oversight.
255 Albert Street, 12th Floor
Ottawa, ON K1A 0H2
Call: 1-800-385-8647
Visit: www.osfi-bsif.gc.ca.
Financial Consumer Agency of Canada (FCAC)
The FCAC supervises federally regulated financial institutions to ensure they comply with federal consumer protection laws and voluntary commitments and codes of conduct. For example, financial institutions are required to provide consumers with information about complaint handling procedures, fees, interest rates and branch closures.
If you have a complaint concerning a consumer protection law or a voluntary commitment or code of conduct, you may contact the FCAC at:
427 Laurier Avenue West, 6th Floor
Ottawa, ON K1R 1B9
Call (English): 1-866-461-FCAC (3222)
Call (French): 1-866-461-ACFC (2232)
Visit: www.fcac-acfc.gc.ca
Note: The FCAC does not provide redress or compensation and cannot get involved in individual disputes.
For a complete listing of federal consumer protection laws, voluntary commitments and codes of conduct, visit www.fcac-acfc.gc.ca.
Basel III
Basel III is a global regulatory standard on bank capital adequacy, stress testing and market liquidity risk. It is intended to strengthen global capital and liquidity rules with the goal of improving the banking sector’s ability to absorb shocks arising from the financial and economic stress, thus reducing the risk of spillover from the financial sector to the real economy.
DCBank’s Pillar 3 Disclosures are as follows:
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June 30, 2020
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March 31, 2020
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December 31, 2019
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September 30, 2019
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August 14, 2019
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May 8, 2019
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December 31, 2018
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September 30, 2018
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June 30, 2018
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May 10, 2018
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October 1, 2017
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July 1, 2017
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June 30, 2017
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March 31, 2017
FAQ
Electronic Funds Transfer FAQs
What is Electronic Funds Transfer (“EFT”)?
A EFT is a payment to a customer’s bank account. EFTs are a convenient, easy and affordable way to deposit funds to a customers bank account.
What is Pre-Authorized Debit (“PAD”)?
A PAD is an EFT debit transaction whereby a withdrawal from a customer’s bank account has been pre-authorized by the account holder. PADs are often used as a convenient way for a business to collect payment from a customer on a one-time or recurring basis.
What is the difference between a credit and a debit EFT transaction?
A credit EFT is a payment initiated from the Bank to a customer’s bank account.
A debit EFT is a withdrawal of a customer’s bank account that has been pre-authorized by the account holder. A debit EFT is also known as a PAD.
What can I do if a PAD to my customer’s account is returned non-sufficient funds?
If a PAD or EFT debit transaction is returned due to insufficient funds, the biller may re-present the payment in accordance with the payor’s PAD agreement.
What are the processing times for EFT transactions?
With our EFT processing solutions, customer’s can choose to same day (priority) or next day (regular) processing options.
Priority transactions are transmitted daily at 5:00am, 10:00am and 3:30pm MST. Regular transactions are transmitted each business day at 5:00am MST.
What is the difference between a priority and regular EFT?
Priority EFT transactions will be submitted for processing same day.
Regular EFT transactions will be submitted for processing the next business day.
How do I know why a transaction is returned or rejected?
Upon submission of a transaction you will be notified if the transaction is rejected due to insufficient funds, invalid bank or transit number, or if a file includes a duplicated transaction.
Below is a list of the Payments Canada return reason codes:
| Reason Code | Description | Abbreviation |
| 900 | Edit Reject | REJ/REV |
| 901 | NSF (Debit Only) | NSF/DSP |
| 902 | Account Not Found | CNT/ITV |
| 903 | Payment Stopped/Recalled | STP/ARR |
| 905 | Account Closed | CLS/FER |
| 907 | No Debit Allowed | NCP/PPC |
| 908 | Funds Not Cleared (Debit Only) | FNC/FNL |
| 909 | Currency/Account Mismatch | WCU/MDC |
| 910 | Payor/Payee Deceased | DEC/DEC |
| 911 | Account Frozen | FZN/BLQ |
| 912 | Invalid/Incorrect Account No. | INA/INV |
| 914 | Incorrect Payor/Payee Name | INP/NOM |
| 915 | No Agreement Existed | ANP/NOG |
| 916 | Not According to Agreement – Personal | NCA/ACP |
| 917 | Agreement Revoked – Personal | ARP/AGP |
| 918 | No Confirmation/Pre-Notification – Personal | PNP/PRP |
| 919 | Not According to Agreement – Business | NCE/ACB |
| 920 | Agreement Revoked – Business | ARE/AGB |
| 921 | No Confirmation/Pre-Notification – Business | PNE/PRB |
| 922 | Customer Initiated Return (Credit Only) | REC/CIR |
| 990 | Institution in Default | DEF/DEF |
When should I send my file when EFTs are due on a weekend or holiday?
For EFTs, payments that are due on a weekend or holiday should be submitted 1 business day prior to the due date. The effective date of the transaction should be reflective of the business day prior to the due date in this situation.
My customer has not received their payment. Why not?
There are several reasons why your customer may not have received their funds:
- Check that the transactions have been processed by viewing Outgoing Transactions in the EFT menu on the online platform;
- Check that the transaction has not been rejected or returned by viewing the Rejected and Returned Transactions in the EFT menu on the online platform; and
- Initiate a trace request on the EFT transaction.
I have funds in my account but have received the error that there are insufficient funds available, why?
Check your EFT Funding account to ensure funds are available for the value of your transaction plus any transaction processing fee. Transfer funds between your accounts using the My Transfers function on the online banking platform.
Want all transactions to settle from a primary account? Contact bankingservices@dcbank.ca for assistance.
My file is in excess of my daily limit. What do I do?
Speak to your Account Representative to establish a temporary increase to your daily limit for the required date range and amount.
How do I cancel an EFT transaction?
EFT transactions may be cancelled prior to settlement of the transaction to the network. Review the status of your transactions on the Bank’s online platform, where you are able to cancel transactions that have not yet settled. Customers using the Bank’s APIs to transmit EFT transactions are able to cancel EFT transactions prior to settlement using the API.
Please refer to the Bank’s processing times for more information on settlement cut-off periods.
How do I submit bulk EFT transactions?
To submit bulk EFT transactions through the online portal select Create EFT and choose Bulk File Upload as the entry type.
For details on the format required for bulk file submission please use the EFT SFTP and Client Portal File Upload Format document available under Support and Downloads on the online platform.
How do I submit EFT transactions via SFTP?
To submit transactions via SFTP please contact coresupport@dcbank.ca to set up your SFTP connectivity.
For details on the format required for SFTP file upload please use the EFT SFTP and Client Portal File Upload Format document available under Support and Downloads on the online platform.
How do I submit EFT transactions via API?
Our APIs are publicly available at https://developer.dcbankapi.com.
To get sandbox or production credentials please contact coresupport@dcbank.ca or your Account Representative at the Bank.
How do I trace an EFT payment?
For transactions initiated using the Bank’s EFT platform, first check to ensure the transaction was not rejected by reviewing the reporting on the Bank’s platform. If the transaction was not rejected and you require a trace of the transaction please contact us at 1.844.836.6040 or customersupport@dcbank.ca. Please ensure to have the transaction details, including date and transaction reference number on hand.
How can I use DCBank’s EFT platform?
Our EFT solution allows customers to process payments quickly by distributing to or collecting funds from customers in Canada. Process payments using our secure online application, SFTP or API. Simply enter your customers’ payment information and funds are deposited or collected from your customer’s bank account. Our flexible, secure and quick solution can be used to: manage recurring billings, process account receivables or distribute funds to customers or suppliers.
How do I get set up with EFT services?
Contact us today at 1.844.836.6040 , sales@dcbank.ca or your Account Representative to get started today.
Interac e-Transfer FAQs
What is an Interac e-Transfer?
An Interac e-Transfer is a fast, secure and convenient way to send money to anyone in Canada. To send an Interac e-Transfer, all you need is the email address or mobile phone number of the person that you are sending money to. The recipient receives notification that the transfer has been sent, and accepts and deposits the funds to a Canadian bank account of their choice immediately.
How do I send an Interac e-Transfer?
Once you are logged into DCBank’s secure online platform, navigate to the section for Interac e-Transfer and simply follow the instructions to add a recipient and start sending money. DCBank also has API options available.
What is bulk disbursement?
DCBank is one of the first Canadian Financial Institutions to offer its customers bulk disbursement for Interac e-Transfer. Bulk disbursement allows customers to send a single file with multiple individual transactions for a lower cost than individual transaction processing.
How will I know when the recipient has received the Interac e-Transfer?
The sender receives a notification once the recipient has deposited their funds to their bank account. DCBank offers detailed reporting for its clients on the status of Interac e-Transfer transactions.
What are DCBank’s processing times?
Individual Interac e-Transfer transactions are sent real-time within 30 minutes. Bulk disbursement Interac e-Transfer transactions are sent the next business day, with options for priority processing where transactions are sent within 1 hour.
What are the benefits of DCBank’s Interac e-Transfer platform?
DCBank’s online Interac e-Transfer solution allows its customers to process payments quickly by sending individual or bulk payments to customers in Canada, without the need for the recipients’ banking information. The primary benefits of DCBank’s Interac e-Transfer platform include:
- Flexibility – real-time and overnight processing options
- Speed – funds are deposited real-time anywhere and anytime the recipient has access to online banking
- Detailed Reporting – receive real-time acknowledgement and transaction status reports
- Security – each payment is password protected, allowing recipients to safely and securely deposit their funds
- Paperless – reduce requirements for collection of personal financial information and issuing, tracking or reconciling costly cheques or cash payments
Can you cancel an Interac e-Transfer?
An Interac e-Transfer can only be cancelled if the funds haven’t already been deposited.
What are the limits for sending Interac e-Transfers?
Limits for sending an Interac e-Transfer may vary by account type.
What are the limits for receiving Interac e-Transfers?
Limits for receiving an Interac e-Transfer may vary by account type. The maximum that may be received to an account is $10,000 per day.
How do I know why a Interac e-Transfer is returned or rejected?
Below is a list of the Interac e-Transfer response codes:
| Response Code | Description |
| 100 | Authentication failed – try again |
| 101 | Authentication failed – cannot try again |
| 201 | Transfer amount exceeds the individual incoming transfer amount limit |
| 202 | Total cumulative transfers exceeds the daily incoming transfer amount limit |
| 203 | Total cumulative transfers exceeds the first rolling incoming transfer amount limit |
| 204 | Total cumulative transfers exceeds the second rolling incoming transfer amount limit |
| 207 | Transfer amount is less than the minimum individual incoming transfer amount limit |
| 208 | Individual outgoing transfer amount threshold exceeded |
| 209 | Daily outgoing transfer amount threshold exceeded |
| 210 | First rolling limit outgoing transfer amount threshold exceeded |
| 211 | Second rolling limit outgoing transfer amount threshold exceeded |
| 301 | Customer does not exist |
| 303 | Contact does not exist |
| 305 | Transfer does not exist |
| 306 | Customer is not the sender of this transfer |
| 320 | Operation cannot be performed due to current transfer status |
| 321 | Sender and recipient cannot be the same User ID at the same FI |
| 322 | Pending transfers exist for this contact |
| 323 | Transfer was previously authenticated with different user ID |
| 340 | FI does not exist |
| 343 | Language not supported |
| 358 | Recovery amount has to be between 0 and transfer amount |
| 359 | Recovery amount cannot be specified for the fraud type |
| 361 | Indirect Connector does not exist |
| 362 | Invalid from and to date range |
| 363 | Maximum search results exceeded – date range too broad |
| 371 | Expiry date is less than transaction date |
| 374 | Two-phase message transaction was interrupted and has not been committed |
| 379 | Invalid area code |
| 381 | Channel type not required for the current channel indicator |
| 382 | Invalid notification indicator |
| 384 | Mobile phone number missing |
| 387 | Channel type missing |
| 388 | Email missing |
| 389 | Both email and mobile phone number missing |
| 390 | Expiry date exceeds threshold set by sending FI |
| 391 | Transfer amount is less than the minimum outgoing individual transfer threshold |
| 392 | Transfer amount exceeds the individual outgoing transfer threshold |
| 393 | Total cumulative transfers exceeds the daily outgoing transfer amount threshold |
| 394 | Total cumulative transfers exceeds the first rolling limit outgoing transfer amount threshold |
| 395 | Total cumulative transfers exceeds the second rolling limit outgoing transfer amount threshold |
| 398 | Duplicate FI transaction reference number |
| 410 | Sender account suspended |
| 411 | Recipient account suspended |
| 412 | Sender email address, contact email address, or transfer reference number is on block list |
| 413 | Sender mobile phone number, contact mobile phone number, or transfer reference number is on block list |
| 414 | The transfer is not blocked |
| 416 | The transfer is already blocked |
| 417 | Contact group does not exist |
| 420 | First name missing |
| 421 | Last name missing |
| 422 | Retail name missing |
| 423 | Business name missing |
| 424 | Company name missing |
| 425 | Limit group does not exist |
| 427 | One-time recipient/contact cannot belong to a group |
| 431 | A recipient/contact with the specified name already exists for this sender |
| 433 | Transfer authentication missing, not defined at recipient/contact level |
| 434 | Transfer authentication cannot be specified at transfer level |
| 435 | Invalid transfer authentication for the transfer type |
| 437 | Sender does not have a legal name |
| 456 | Challenge question and answer are missing |
| 457 | Challenge question and answer cannot be specified for the payment authentication type |
| 458 | A contact group with the specified name already exists for this sender |
| 501 | Sender account suspended from initiating transfer requests |
| 505 | Duplicated FI transfer request transaction ID |
| 511 | Transfer request reference number does not exist |
| 512 | FI transfer request ID does not exist |
| 518 | Individual outgoing transfer request amount threshold exceeded |
| 519 | Maximum number of outgoing transfer requests threshold exceeded |
| 532 | Sender blocked to send request to recipient/contact notification |
| 533 | Request for transfer cannot be fulfilled due to its status |
| 535 | Service registration cannot be specified for the transfer type |
| 539 | Request for transfer cannot be specified for the transfer type |
| 541 | Customer ID and transfer request reference number mismatch |
| 543 | Duplicated service registration for the specified email |
| 545 | Duplicated FI service registration reference number |
| 547 | Maximum number of service registrations threshold exceeded |
| 548 | Service registration ID does not exist |
| 552 | Email address required for service registration type |
| 999 | Application error |
How do I get set up with DCBank’s Interac e-Transfer program?
Contact DCBank to get started today at 1.844.836.6040 or sales@dcbank.ca.
Prepaid Card Solutions FAQs
Why choose DCBank for my prepaid card needs?
DCBank provides customizable prepaid card solutions, providing its program managers the ability to deploy specialized programs tailored to specific needs in target markets.
What type of cards does DCBank issue?
DCBank is a leading issuer of Interac, MasterCard and Visa prepaid cards in Canada. We support reloadable, closed-loop, virtual and chip card programs.
What is the first step to set up a prepaid card program with DCBank?
Contact DCBank today to discuss your business opportunity and program needs at 1.844.836.6040 or sales@dcbank.ca.