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Electronic Funds Transfer, often called EFT, is a payment method that replaces sending a paper check. You initiate a payment online using the Internet and allow Unemployment Insurance to deduct a payment from your financial institution on the day you choose and credit the payment to your Unemployment Insurance Account. You no longer have to worry about whether your payment made it through the mail on time.
Registration for EFT Internet is a simple one-time process. In order to have your funds deducted electronically from your account you will have to provide us with the following bank account information; your bank account number, your bank routing number, and the type of bank account the payment is being deducted from. (Savings or Checking)
Once you have completed the EFT online Internet registration you can immediately start to make payments.
No, UI does not charge you any amount for making an EFT payment online using our EFT application.
No, EFT Internet payments occur only when you initiate an EFT Internet payment entry on our secure Internet Site and only for the amount and on the day that you instruct the payment to be deducted from your bank account.
From the EFT Make Payment page you can select the option to edit your EFT registration and change it. If you pay your taxes out of more than one bank account you can also add additional accounts. Once you have updated your registration you can immediately make your EFT Internet payment out of your new bank account.
Yes, All EFT data is SSL 128-bit data encrypted. Access to your EFT Internet bank account information is limited to only a few employees. We feel your EFT Internet bank information is more secure than a paper check, which can pass through many hands.
No, A new law change effective starting October 31, 2008 states that in order for a payment to be considered to be received on time the payment must be received on or before the tax due date. The latest a payment can be made and still have a payment settlement date of the tax due date is 5:00 P.M. one business day before the tax due date. You cannot change the default settlement date of payment to an earlier date.
No, once a payment confirmation number has been issued the payment cannot be canceled. The only way to stop an EFT payment made once a confirmation number has been issued is to have your financial institution place an EFT return code 031 on the payment. Please make sure your payment data is correct when reviewing the payment verification screen prior to completing your payment. Please remember any time that you click the complete my payment button from the payment verification page you are creating a new electronic payment transaction that will process against your bank account. We will be adding a cancel payment option to this application in the near future.
Prior to 5:00 p.m. on the business day before the payment settlement date of the payment made in error you can log back into your EFT account and if you update your EFT bank account registration to the new bank account the payment you previously made will be pulled from your new bank account. The system does not tell you that the previously scheduled payment will be deducted from your new bank account. If you update your bank information prior to 5:00 p.m. on the business day before the payment settlement date of the payment, do not initiate a 2nd payment with your new bank account registration, as both payments made will be deducted from your new bank account.
If it is after 5:00 p.m. on the business day before the payment settlement date you must correct your EFT bank account registration and initiate a 2nd payment.
If you are not sure of what to do please call us at (608) 266-5793.
No, please make sure to print a copy of the payment confirmation page when the page is presented online. When registering for EFT if you signed up for email confirmation of payment a confirmation of the payment initiated will be sent to you once you have clicked complete my payment button on the payment verification page. We will be adding payment history to this application in the near future.
Yes, login to your UI account on the Internet and once you are on the employer home page under Account Functions select the option that says click here for billing details and payment options. This will take you to your billing detail page where you can then initiate your EFT payment.
No, we will be adding the option to set up an installment payment plan in the near future.
You may make your EFT Internet payment up to 45 business days in the future. Making your payment now allows you to make your payment in advance but not have the funds taken out of your account until the actual tax due date. Making your payment by EFT insures that the UI will receive the money on the day you specify when making your payment. You save money on postage and don't have to worry about the payment getting lost in the mail and incurring penalties. Remember that making an EFT payment with a future settlement date of payment does not relieve you of meeting your tax liability due date. Payments made after the tax due date will result in interest being assessed on the tax due and could effect your next years UI Tax Rate.