ACH Payments Using Credit Card

Modified on Fri, 8 Sep, 2023 at 7:36 AM

Summary: This article reviews how to make ACH payments with your commercial credit card with a payment method called Buyer Funded Card (BFC)

Payables Permissions: See each section below for specific access permissions.

Article Contains:

Activate Buyer Funded Card 

Centime allows users to make ACH payments using most commercial credit cards on Visa or Mastercard networks. No application is required for this. Centime will charge your credit card for the payment amount and then send your supplier an ACH payment. 

To set up Buyer Funded Card (BFC) payments in Centime, there are a few steps to complete.

  • Complete company and ownership information if it is not already complete by navigating to Settings > Company Profile. You will need the Manage company profile and define ownership and control individuals Administrator permission. 
  • Link your credit card by navigating to Settings > Financial Institutions and add your card's financial institution

  • Register the credit card in Centime's Payment Solutions Page. You will need the Activate and manage integrated payment and credit solutions Administrator permission.

Configure BFC Globally

Required Permission: Manage AP email and payment settings

BFC can be configured globally by navigating to Settings > Payables > Payment Settings. Under ACH payments, you can set your default funding account to a linked credit card instead of your bank account.  This will make all of your ACH payments be BFC by default unless you change it on the Supplier profile or ad-hoc during a payment run. 

Configure BFC by Supplier

Required Permission: Manage supplier communications and payment settings

To configure BFC on the supplier level, navigate to a Supplier Profile in the Payables module by clicking on their name in any of the tabs (Supplier, Documents, Unpaid Invoices, Paid Invoices).

Once in a Supplier Profile, navigate to the Payments tab and expand the ACH section. Choose your credit card from the Pay from account dropdown, enter your supplier's ACH information, and save your settings. 

Make a BFC Payment

Required Permission: Schedule payments and manage the AP workflow (recall, mark paid, post)

To schedule a payment on an invoice, click on the 'Pay' action in the 'Unpaid invoices' tab. 

Here users have another opportunity to modify the payment method and the default funding account for it by clicking on the payment method.

Select the invoices you'd like to pay and click Confirm. 

If you do not select a payment date, then the system will assume that it is the earliest possible date once approved. 

When you click Confirm, you will have one final opportunity to check the payment before clicking Confirm again which will send it to the payment approver (if payment policies dictate). Users can also add notes which appear on the remittance to the supplier upon payment release. 

View a Processed BFC Payment

Required Permission: Schedule payments and manage the AP workflow (recall, mark paid, post)

Users can easily tell if an ACH payment is a BFC transaction because the ACH will have a credit card symbol next to it in the Paid Invoices tab.

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article