This article explains funding cutoffs, business day processing timelines, and how different funding methods impact supplier payment delivery. Use this information to plan payment runs and set supplier expectations.
Prerequisites
- Ability to submit invoice payment files through SFTP, API, or the portal
- Funding arrangement established with your bank
- Understanding of your organization's payment methods
Limits & Notes
Submitted Files Are Final
Once a payment file is submitted, regardless of submission method:
- It cannot be canceled.
- It cannot be stopped.
- It must be funded and processed.
Send vs. Settle
Finexio controls when payments are sent, not when they are settled or posted to the supplier account.
Settlement timing depends on:
- ACH: NACHA processing rules
- Wire: Federal Reserve processing timelines
- Virtual Card: Supplier merchant processor posting timelines
Key Concepts
File Submission Cutoff
- Submit your invoice file through SFTP, API, or the portal before 11:00 a.m. ET to begin processing.
Business Day Definitions
- Day 0 = The business day Finexio receives funding from your bank.
- All timelines below are measured in business days.
- Weekends and bank holidays are not considered business days.
Funding Method Impact
The funding method is the largest factor affecting supplier payment speed.
- Reverse Wire provides the fastest processing.
- Standard ACH Debit includes a 3-business-day bank validation hold before payments are disbursed.
Payment Timing Reference
| Milestone | Reverse Wire | Standard ACH Debit |
|---|---|---|
| Funds received from your bank | Day 0 | Day 0 |
| Payments disbursed | Day 0 | Day 3 |
| Virtual card email delivered to supplier | Day 0 | Day 3 |
| Finexio Express, ACH, and wire received | Day 1 | Day 4 |
| Check or card mailed | Day 5 | Day 7 |
Results
You can use the table above to:
- Estimate when suppliers will receive payments.
- Determine whether Reverse Wire or ACH Debit best meets your payment requirements.
- Communicate expected payment timing to suppliers.