Payment File payment method - Bring Your Own Bank

Modified on Fri, 18 Aug 2023 at 09:33 AM

The Payment File solution allows you to use your bank(s) for processing payments through Quadient AP. This is a great alternative if you are unable to use one of the Quadient AP payment providers.

Payment File eligibility and requirements

The Payment File payment method is a custom-built solution. Eligibility and requirements will differ depending on factors such as your bank's file formats or your vendors' payment methods. Please contact your Customer Success Manager to discuss if the Payment File solution would be the right fit for you. 

Payment File workflow in Quadient AP

Once onboarded, you can select Payment File as a payment method when creating payments in Quadient AP. Please ensure to select the matching Bank Name when coding the payment. Each Bank Name for the Payment File payment method follows the below naming convention:

  • Banking Institute Name - Last 4 digits of account number 

Fully approved Payment File payments are found in the Releases tab. Select the payments to be released, and click Release Payments. 

When you click Release Payments, the payments will follow one of two processes depending on your implementation:

  • The Payment File is sent directly to your bank. Payments are then processed by your bank to your vendors.
  • The Payment File is sent directly to you. Your Customer Success Manager will advise on the best process to receive the file and how to transmit it to your bank.

The payment file contains payment instructions for your bank to determine the payer, the payee, and the payment details. The payment will be deposited directly into the recipient’s bank account.  

If a Payment File payment needs to be voided, supporting documentation from your bank of either funds returned or transaction error must be provided. 

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