Payments will be processed by check run.
- Payments are debited immediately from your account. ACH will pull one transaction from your account per check run.
- Transactions appear on the bank statement as "Plate IQ". There will be one transaction on your statement per payment.
- We include the Plate IQ transaction number and vendor name in your bank statements for all ACH payments made using VendorPay.
Please note: Not every bank supports this information.
- Check payments are just like checks you would send manually. They will not be debited from your account until the vendor cashes the check.
- Check transactions will appear on your statement just like checks you would manually write.
We debit your account to fund the vCard. Each vCard funded would debit your account.