Insolvency Professionals

A Powerful Integrated Banking Solution for Insolvency Professionals

Versa Bancorp has joined forces with both of Canada’s leading Insolvency Software providers to change the way Licensed Insolvency Trustees (LITs) manage estate banking. 

After numerous consultations with Insolvency Industry Professionals, we have developed a unique, customized banking solution specifically designed to resolve your banking headaches and add significant value to your day-to-day operations.

Features & Benefits

  • Reduce Costs and Improve Efficiency with a fully Integrated Solution to Banking.
  • Streamline Deposits
    • Pre-Authorized Debits (PADs) - schedule PADs for any day of the month, reducing the number of returned items and possible proposal defaults
    • Reduce input errors and duplication of work. Debtor information and payment schedule are completed in the insolvency software system – NOT a separate banking application
    • Deposits are accepted at any RBC branch in Canada
    • e-Transfer Autodeposit enables Debtors to send email money transfers without requiring special questions and answers.
    • Skip the trip to a branch with Remote Deposit Capture Scanning technology available for cheques and money orders. 
    • Night Deposit services are available as part of Versa Bancorp’s no-fee platform
  • Easier Access to Cleared Cheques
    • Images of cleared items available immediately through On-line Web Banking
    • Images of cleared items (front & back) provided with monthly statement; ordered by cheque number
    • Monthly statements are available digitally and provide detailed, transactional information.
    • Data for closed accounts, including searchable transactions and cheque images are available on our secure web-site.
    • Our secure web-site includes a Document Exchange Function that avoids missed emails and eliminates sensitive banking information from email phishing attacks
  • Automated Bank Statement Reconciliation
    • No more manual matching process. Banking transaction data can be imported directly to the system – daily, weekly or monthly to match your needs
  • Enhanced Return Item Processing
    • Automated Returned Item processing for PAD transactions
    • Detailed returned item information is available immediately through the On-line Web Banking Site and is printed directly on the bank statement
  • Secure On-line Web Banking Site
    • Direct access to the banking information you need, when you need it
    • Site is purpose built for the Insolvency Industry, resulting in logical, user-friendly navigation
  • No Fees
    • Reduce costs, improve your ‘bottom line’
  • Exceptional Personalized Service
    • Single point of contact for all queries
    • Knowledgeable service team dedicated to providing solutions to the Insolvency Industry’s specific needs

The majority of Insolvency Professionals use Versa Bancorp’s purpose built, no fee platform. We invite you to contact us to find out more.

Deposit Insurance

Versa Bancorp is a member of the Canada Deposit Insurance Corporation.

For more information about what’s covered and how it works, click the digital symbol.

CDIC Digital Membership Sign - This logo signifies that this institution is a CDIC Member

View list of Versa Bancorp’s Deposit Register of Eligible Products.