CUVision delivers access to national payments network
CUSOP provides an effective, efficient and cost-competitive technology-based payment infrastructure to Irish Credit Union’s, to enable credit union members avail of up-to-date payment methods.
CUVision is fully integrated with CUSOP for payments.
Electronic Funds Transfer Facilities:
The CUVision EFT functionality consists principally of two modules:
(i) Credit Transfers
Members can directly transfer funds through the banking system by EFT to any account (which has a valid sort code / BBAN) in either N.I. or the UK. Such EFT transfers are completely automatic (i.e. no manual intervention is required) and take place on multiple occasions throughout all ‘banking days’.
(ii) Direct Debits
Members can transfer funds into their Credit Union A/C from any account (which has a valid sort code / BBAN) in either N.I. the UK.
In addition to allowing an incoming DD to be distributed over multiple accounts (e.g. members’ children) the CU will also be able to accept incoming DD Instructions enabling a member to pay bills etc. (normally from a special utility account).
The Pallas EFT module works in conjunction with the ILCU CUSOP Hub which, we believe, is the most cost-effective approach for the Credit Union.
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