What are Direct Debit Payments?
Direct Debit Payments allows you to link your bank account to Procurify, enabling you to pay for bills by directly debiting funds from your linked account. This feature streamlines your accounts payable process by providing a secure and efficient way to make payments within the Procurify platform without the need to pre-fund your Financial account.
Prerequisites
This feature is currently available for U.S. customers who have our Accounts Payable (AP) feature enabled for Bill Pay.
You must have the Bill Pay feature enabled in your Procurify account.
How to Link a bank account
How to Link a bank account
To manage linked bank accounts, your user role must have the required permissions.
Step-by-Step Guide to link a bank account
Step 1: Navigate to Manage Linked Bank Accounts
From your Procurify dashboard, go to the Settings menu.
Under the "Payment" section, click on Manage Linked Bank Accounts.
Step 2: Link a New Bank Account
On the Manage Linked Bank Accounts page, click the "Link Bank Account" button.
Step 3: Select Your Bank through Plaid
You will be prompted to link your bank account securely through Plaid.
Select your bank from the list or use the search bar to find it.
Step 4: Link and Authorize Your Accounts
Once you've selected your bank, you will be asked to log in to your bank account.
After a successful login, you will see a list of your available accounts. Select the specific accounts you wish to link to Procurify.
Under "Additional Information," you must check both boxes to allow data sharing with Procurify. This is a crucial step to ensure the connection works correctly.
Step 5: Authorize Airwallex
Next, you will be redirected to Airwallex, our payment processing partner, to authorize the connection.
Follow the on-screen prompts to complete this authorization. This step finalizes the link between your bank account and Procurify's payment system.
Step 6: Confirm Direct Debit is Enabled
After completing the authorization, you will be returned to Procurify.
Your connected bank account will now appear under Manage Linked Bank Accounts, and Direct Debit will be enabled as a payment source. -> Should be Your connected bank account will now appear under Manage Linked Bank Accounts, and your linked bank account will be enabled as a payment source.
How to Pay a Bill Using Direct Debit
How to Pay a Bill Using Direct Debit
Once your bank account is linked, you can use it to pay bills within Procurify.
When you are ready to pay a bill, navigate to the Bills section.
Select the bill you want to pay and click on the "Pay Bill" button.
In the payment submission form, you will now see your newly linked bank account as a payment source.
Select your bank account as the Payment Source.
Choose the Payment Type (e.g., ACH transfer).
Specify the Processing Date and Vendor Payment Method (e.g., Check, Wire Transfer).
Review all the details and click "Submit" to send the payment for approval.
Important Information:
Pricing and Packaging:
The Direct Debit Payment feature is an enhancement to our existing Bill Pay functionality. It is available to all customers who have purchased the Accounts Payable (AP) module.
While we are currently in a promotional period, please be aware that transaction fees will be implemented in the future. These fees will be charged per transaction and will be outlined on your platform.
FAQ
FAQ
Which customers can use this feature?
This feature is currently available for U.S. customers who have our Accounts Payable (AP) feature enabled for Bill Pay.
When are Direct Debit Payments Processed
Direct Debit payments are processed exclusively on business days. This means that payments cannot be completed on weekends or public holidays. Please keep this in mind when scheduling your payments.
How long does it take to complete a Direct Debit payment?
ACH payments typically take 3 to 6 business days to complete. The process involves two main steps:
It can take up to 3 business days for the funds to transfer from the customer's bank account.
It can then take up to another 3 business days for the funds to be deposited into the vendor's bank account.
Wire transfers are generally faster, typically taking 3 to 5 business days to complete.
Check Payments, the 10-14 days does not include time for the vendor to cash the check. It only includes the time for it to be processed by us and for the check to arrive at the vendor's send-to address.