Manage Cash Flow with Bill.Com Pay by Card
Bill.com has rolled out a new feature that provides you the freedom to pay how you want. Introducing, Bill.com Pay by Card.
What Does This Mean for You?
Now you can pay vendors by credit card even if they don’t typically accept cards. So, earn rewards and your favorite perks (points, miles, rebates, etc.) when you pay your vendors by credit card. Using your card may provide you with deferred payments, and free up cash flow with credit card payments to vendors.
With Bill.com and automatic sync, it cuts down on manual entry and reduces errors. It is easy to get started and easy to use.
How Does Bill.com Pay By Card Work?
It’s quite simple:
- Decide which bills you want to pay by card
- Add your card
- Make a card payment with the card you added, no matter if the vendor accepts card payments or not
- Then pay your vendor via ACH or check, whichever method of payment they are set up for
A charge for the payment will be made plus an industry-standard 2.9% transaction fee.
Bill.com processes your credit card payment and then pays your vendors by ACH payment or check.
Vendors receive their payments by ACH or check but you get to pay by credit card, earning credit card rewards and deferring payments to better manage your cash flow.
Any U.S. credit or debit card may be used for Bill.com card payments, except prepaid cards, or gift cards; these payment methods are not supported at this time.
How Long Do Bill.com Pay by Card Payments Take?
In most cases, funds will be deposited the next business day after your card has been processed. For vendors that have just signed up to receive ACH payments, it can take up to 5 business days to receive the first payment.
Check vendors will generally receive payments within 5 – 7 business days, depending on mail delivery speed.
When you make a payment with your credit card, an estimated date that the payment will be received by your vendor will be shown.
There are no charges to your vendor.
Cash Flow Made Easier
Leveraging Pay by Card functionality allows you to work smarter, not harder by freeing up your cash flow. RAI is dedicated to fueling your success through automation and insight. We reduce your accounting workload so you have more time for everything else. Find a solution that saves you time by scheduling an appointment with us: LET’S MEET
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