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When will my Vendor Receive their Payment?

Jenny Vaughn
Updated

When you use our Bill Pay feature, your vendor may receive funds from us in one of three ways. We will cover cut-off and transit times for each. 

 

As long as payments are submitted by 1pm on a weekday that is not a Federal Reserve Holiday, the timings are as follows:

MEEP - VCC MEEP - Preferred Pay MEEP - Basic ACH Self- Directed ACH
1 to 2 Days 1 to 2 Days 4 to 5 Days 5 to 6 Days

These links will take you directly to each section: 

 

Physical Check

  • Checks confirmed before 9 pm Eastern (6 pm Pacific) are printed and mailed the next business day*
  • Checks are mailed first class from Houston, TX and transit times are dependent on the USPS. Generally we see checks arriving in 3-5 business days. 
  • The day the vendor actually deposits the check is the day the funds will be debited from your account (not the date of printing).
  • The status you will see on your Bill Pay > Payments page will show "Sent: Check". This confirms we mailed the check, but it does not confirm if the vendor actually deposited it.

Note that for approved physical check payments, we do have a feature that allows you to download an eCheck for immediate mobile deposit.

 

MEEP - MarginEdge Electronic Payments (Virtual Credit Card)

  • VCC Payments that are confirmed before 1pm Eastern (10am Pacific) are processed the same day. Anything approved after 1pm will be processed the next business day*.
    • The funds will debit from your account the day after the payment is processed. 
  • Your vendor will receive payment within one business day of the MarginEdge Send Date. For example, any MEEP approved before 1pm on Monday will be received by the vendor on Wednesday. 
  • VCC funds must be deposited by the vendor, so there could possibly be a delay if they don't accept it immediately.

  • The status you will see on your Bill Pay > Payments page will show: 

    • For VCC: "Delivered: MEEP" once the vendor has received the funds and then will show "Paid: MEEP" once the vendor has actually deposited the funds from a VCC

  • Payment Details:

MEEP - MarginEdge Electronic Payments - Preferred Pay

  • Preferred Pay payments that are confirmed before 1pm Eastern (10am Pacific) are processed same day. Anything approved after 1pm will be processed the next business day*.
    • The funds will debit from your account the day after the payment is processed.
  • Your vendor will receive payment within one business day of the MarginEdge Send Date. For example, any MEEP approved before 1pm on Monday will be received by the vendor on Wednesday. ACH funds are deposited automatically, though it may be approximately 1-2 additional business days before the deposit is reflected in the vendor's bank account. 
  • The status you will see on your Bill Pay > Payments page will show: 
    • For ACH: "Paid: MEEP" once the vendor receives the funds via ACH

  • For ACH: "Paid: MEEP" once the vendor receives the funds via ACH

  • Payment Details:

  • The Payment Package will display whether the vendor has subscribed to Preferred Pay

 

MEEP - MarginEdge Electronic Payments - Basic ACH

  • Basic ACH Payments that are confirmed before 1pm Eastern (10am Pacific) are processed same day. Anything approved after 1pm will be processed the next business day*.
    • The funds will debit from your account the day after the payment is processed. 
  • Your vendor will receive payment within one business day of the MarginEdge Send Date. For example, any MEEP approved before 1pm on Monday will be received by the vendor on Wednesday. ACH funds are deposited automatically, though it may be approximately 3 to 4 additional business days before the deposit is reflected in the vendor's bank account. 
  • The status you will see on your Bill Pay > Payments page will show: 
    • For ACH: "Paid: MEEP" once the vendor receives the funds via ACH

  • For ACH: "Paid: MEEP" once the vendor receives the funds via ACH

  • Payment Details:

  • The Payment Package will display whether the vendor has subscribed to Preferred Pay

 

Self-directed ACH (separate process from MEEP's)

  • Some quick definitions:
    • MEEP: an in-network payment to vendors that have been vetted, verified and bank matched.
    • Self-directed ACH: a payment to an unverified vendor achieved through the process of you entering in payment details, including the vendor's bank account information, and you bearing the risk associated with payment failure, fraud, or loss. 
  • Self-directed ACH payments that are confirmed before 1pm Eastern (10am Pacific) are processed same day. Anything approved after 1pm will be processed the next business day*.
  • Vendors can expect to receive a self-directed ACH payments 5 to 7 days after a payment has been approved. They cannot be rushed or expedited.
  • The funds will debit from your account the day after the payment is processed. 
  • The status you will see on your Bill Pay > Payments page will show as "Paid: ACH" once the vendor receives the funds via ACH.

 

*For payment purposes, "business days" are days that are not a weekend or a Federal Reserve holiday. (Federal Reserve holidays differ slightly from Federal government holidays, so please double check.) If the cutoff falls on one of these holidays, please move your deadline up to the prior business day.