Standardbred Canada and Woodbine transitioning to EFT only purse payments
TORONTO, October 13, 2023 – Woodbine Entertainment and Standardbred Canada have announced that purse payments for all Ontario racetracks will be distributed exclusively to Canadian residents through Electronic Fund Transfer (direct deposit), as of April 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.
All owners, trainers and drivers that have yet to register for EFT payments through Standardbred Canada will be required to sign-up in advance of April 1, 2024. All completed applications must be received by March 1, 2024.
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.
Woodbine and Standardbred Canada encourage all participants to register as soon as possible.
