Applications for EFT Purse Payments due March 1
TORONTO, February 20, 2024 – Woodbine Entertainment and Standardbred Canada are transitioning to distributing purse payments for all Ontario racetracks to Canadian residents through Electronic Fund Transfer (direct deposit), as of April 1, 2024.
All owners, trainers and drivers are reminded that the deadline to complete the EFT application is March 1, 2024.
EFT, commonly referred to as direct deposit, is the globally accepted best practice for payroll, and other forms of payment worldwide, including in security conscious industries such as banking and insurance. The EFT option for purse payments was launched in late 2022.
For horses owned or leased by more than one person or more than one stable, the first owner of record will receive the EFT payment, but all owners must complete the EFT submission form.
Sign-up can be done through Standardbred Canada’s Member Services.
For more information on the transition to the EFT process, please contact Standardbred Canada Member Services at 905-858-3060 x254 or email EFT@standardbredcanada.ca.
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