Funding & Payment Timing

Available funding and payment delivery methods and expected timing

At Finexio, we strive to provide a world-class payments service. To ensure your payments arrive as expected, it is essential to understand the timeline associated with our various funding and payment methods.
 
Below are the various funding and payment methods and what you need to know about each so that we can effectively deliver payments on time to your suppliers.
 
*Daily Cut-Off Time
Based on banking business days and assumes Finexio receives payment file reasonably before daily banking cut-off (2pm EST for ACH funding; 1pm EST for wire funding). Any payment requests received after cutoff will be processed the next business day.
 

Funding Methods:

Finexio is a holistic payments provider, and we manage your payments from a dedicated trust account. There are several ways to fund your payments, described below:
 

WIRE:

 
Wire Debit (Pull):
  • A Wire debit (also known as a reverse wire or wire draw-down) is where Finexio initiates a Wire request from our partner bank to yours to fund the Finexio trust account. Finexio will only ask to debit the exact amount in the payment file we receive from you. In short, Finexio is "pulling" funds to satisfy the payment request we received.
  • A Wire debit received before our cut-off time will be received and cleared the same business day, with select payment methods able to go out to your supplier that night.
  • In order to optimize Wire payments, one wire drawdown will occur for the combination of all payments for the buyer profile submitted within a wire drawdown period. Each business day, there are two wire drawdown periods with the following cutoff times: 9:30 AM EST & 1:00 PM EST
  • One-Step Process:
Debit funding is our preferred funding method since Finexio is initiating the funding pull from your designated account in the exact amount of the funding file received. Debit funding prevents potential delays.
 
Wire Credit (Push):
  • A Wire credit is where you initiate a wire from your bank account to the Finexio trust account. You specify the amount and when you wish to send funds. In short, you are "pushing" funds to us.
  • A Wire credit received before our cut-off time will be received and cleared the same business day, with select payments methods able to go out to your supplier that night.
 
  • Two-Step Process: Please note, this requires two steps on your part and is not recommended:
  1. Sending Finexio the payment instructions to facilitate your supplier payments.
  2. Ensure you send funding to the Finexio Trust account that matches the payment instructions.
A mismatch between the payment file and the funding we receive may cause a delay in your payments, which is why this is not our recommended funding model.
 
 

ACH:

 
ACH Debit (Pull):
  • An ACH debit is where Finexio initiates an ACH request from our partner bank to yours, to fund the Finexio trust account. Finexio will only ask to debit the exact amount in the payment file we receive from you. In short, Finexio is "pulling" funds to satisfy the payment request we received.
  • An ACH debit received before our cut-off time will be received the next business day. Payments then settle for two business days (per banking regulations). On the 4th day, funds are cleared, and payments are initiated.
 
  • One-Step Process
Debit funding is our preferred funding method since Finexio is initiating the funding pull from your designated account for the exact amount of the funding file received. Debit funding helps prevent potential delays.
 
ACH Credit (Push):
  • An ACH credit is where you initiate an ACH from your bank account to the Finexio trust account. You specify the amount and when you wish to send funds. In short, you are "pushing" funds to us.
  • An ACH credit received before our cut-off time will be cleared the next business day, with select payment methods able to go out to your supplier the night after funds are cleared for use.
 
  • Two-Step Process: Please note, this requires two steps on your part and is not recommended:
  1. Sending Finexio the payment instructions to facilitate your supplier payments.
  2. Ensure you send funding to the Finexio Trust account that matches the payment instructions.
A mismatch between the payment file and the funding we receive may cause a delay in your payments, which is why the Two-Step Process is not our recommended funding model.
 
 
 

Payment Methods:

Finexio has several payments designed to optimize and monetize your AP spend. We describe each payment scenario below assuming funds are cleared and ready to be sent.
 

Virtual Card:

  • Email Delivery: For suppliers electing this method, Finexio will send a virtual card via email on the night that the funds we receive are cleared for use.
  • Phone or Portal Delivery: For suppliers electing this method, Finexio has received all instructions from the supplier to utilize a phone line or supplier portal to process payment.
 
 

ACH Credit:

  • Finexio will "push" an ACH credit to your supplier's bank account at the end of the day. Those funds will be available to your supplier as early as the next morning, based on the receiving bank's policies.
 

Wire:

  • A wire payment will be sent the same day funds are cleared for use and will be received by the supplier that same day. Please note: there is an additional fee for outgoing wire payments.

Checks:

  • USPS Delivery: Finexio will send a physical copy of a check via USPS the next business day after funds are cleared for use.
 

Payment Delivery Matrix:

Timing estimations made easy- please visit our Finexio Payment Timing calculator for estimations based on your funding method and supplier payment method.
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