It was true when Ben Franklin wrote it in the 1740s, and it’s true now: time is money. This is one reason why you should consider funding your Telpay payments via online banking rather than using your bank’s funds transfer or wire service. Doing so could cut your payment processing time by at least 75%.
Here are three more reasons.
1. It’s fast
Once you set up Telpay as a biller (payee) to fund your payments, we can process your payments as early as next business day (two for payroll). You just have to make sure that you send your payment file and funds to us one day before your payment date or two days prior to your payroll date. With this quick turnaround time, it can mean the difference between an early payment discount and none at all.
2. It’s accurate
Another advantage is that when you use online banking, we receive all of the information we need to process your payment. Wire transfers contain limited information and don’t allow us to automatically match your funds with your payments. This can cause delays and could slow processing time.
3. It’s easy
So how do you actually set up Telpay as a payee? Simple:
- Log in to your bank account and select the bill payment option.
- Add Telpay as a payee (biller) by searching for “Telpay Payables Trust Account” or “Telpay Payroll Trust Account”. You have the flexibility of using either. (Telpay is listed with most financial institutions)
- When you’re prompted to enter an account number, use your Telpay Access Number.
- When you’re ready to fund your payment, select Telpay in your list of payees and enter the total amount.
Bottom line: the quickest, simplest and most precise way to fund your payments is by using online banking. For more info, head to the “How Do I Fund My Payables?” support page or contact us directly at 1-800-665-0302 or email@example.com.