Contact our Friendly Staff Now 0800 4 Payroll, +64 9 280 0328 or enquiries@keylink.co.nz

KeyLink Payroll Services

Focused on your Payroll Processing,
so you don't need to be

From 1 to 200 employees

For as little as $140 per month

KeyLink - Payroll Payment Methods

KeyLink offers 4 methods to pay your staff and the IRD. You can even use one method to pay your staff and another to pay the IRD.

We know that cash flow is an issue for most companies, so we leave the money in your account until we need it to make a payment.

I don’t want to worry about a thing and I have an ASB bank account

Most of our customers want KeyLink to look after all payments and ASB have an easy way to achieve this.

Once you have approved your payroll, KeyLink generates and sends a bank file to ASB Management Services Limited (AMSL). AMSL debit your account and credits your employees’ accounts.

Money leaves your account on the evening of payment.
Money is credited to you employee’s account in the next inter-bank run (generally before 1900, but can be during the day) and is available to withdraw when it arrives.

Cost: AMSL charges $3.25 per batch + 21c per transaction.

Typical set up time is 1 week from getting all the appropriate documentation, however we can use one of the other methods in the meantime. KeyLink needs to perform Customer Due Diligence.

I don’t want to worry about a thing and I have a BNZ bank account

Most of our customers want KeyLink to look after all payments and BNZ have an easy way to acheive this.

Once you have approved your payroll, KeyLink generates and sends a bank file directly to BNZ for them to process on your behalf.

Money leaves your account shortly after we send the file (generally mid to late afternoon)
Money is credited to you employee’s account in the next inter-bank run (generally within an hour) and is available for employees to withdraw when it arrives.

Cost: One off setup = $200 + BNZ charges $3.25 per batch + 21c per transaction.

Typical set up time is 1 weeks from getting all the appropriate documentation, however we can use one of the other methods in the meantime. KeyLink needs to perform Customer Due Diligence.

I don’t want to worry about a thing and I have a NZ bank account

Most of our customers want KeyLink to look after all payments and AMSL have an easy way to achieve this.

Once you have approved your payroll, KeyLink generates and sends a bank file to ASB Management Services Limited (AMSL). AMSL debit your account and credits your employees’ accounts.

Money leaves your account on the evening of payment.
Money is credited to you employee’s account in the next inter-bank run (generally before 1900, but can be during the day) and is available to withdraw when it arrives.

Cost: AMSL charges $3.25 per batch + 21c per transaction.

Notes:

  1. AMSL can only debit from a NZ bank account
  2. AMSL and KeyLink each need to perform Customer Due Diligence.
  3. AMSL require a Letter of Credit from your bank.

Typical set up time is 2 week from getting all the appropriate documentation, however we can use one of the other methods in the meantime.

I don’t want to worry about a thing, but I don’t have a NZ bank account – Commercial Trust Account

This option is popular with our overseas employers as it minimises International Bank Transfer fees. It is also useful for customers who like to keep have a separate account for payroll related costs that they can’t easily access.

KeyLink operates Commercial Trust Account at ASB Bank on your behalf. Each customer using this service has their own account.

KeyLink uses AMSL to facilitate payment, fees are charged to your Commercial Trust Account.

Cost: $60 per month + AMSL fees.

Notes:

  1. KeyLink needs to perform Customer Due Diligence. to meet requirements of Anti-Money Laundering and Counter Financing of Terrorism legislation.
  2. Cleared funds must be available before bank file is sent to AMSL for payment.
  3. KeyLink guarantees on-time payments if cleared funds are available.

I like to make payments myself, and have a NZ bank account – Bank File

Some of our customers need to manage their cash flow very closely and/or want to have complete control over the timing of payments.

KeyLink generates and e-mails you a bank file in specific format for your bank.

You upload into your Internet or Desktop banking application, approve and send.

Cost: Your bank charges its normal fees

Notes: NZ bank accounts only.

I like to make payments myself, and don’t have a NZ bank account – Pay from Reports

Employer makes payment from reports.

This option is generally used by overseas employers, or employers with very small payrolls.

Many of our customers use Foreign Exchange services to make these payments.

Cost: Your bank charges its normal fees.

Customer Due Diligence

To meet the requirements of Anti-Money Laundering and Counter Financing of Terrorism legislation, KeyLink is required to perform Customer Due Diligence (CDD) on customers who use AMSL or a Commercial Trust Account.

AMSL is also required to perform CDD on their customers.

We will ask you to use another method of payment until CDD is complete.

The process for CDD will depend on the type of organisation you are. Typical time to complete is 2 weeks. The basic steps are:

  1. Collect basic information about your organisation
  2. We determine who we will need to identify from your organisation and how we will determine your “source of funds”.
  3. For individuals we have to identify, we will require certified copies of your:
    • Passport
    • Proof of residence

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