Nowadays, it feels like we are living in a fast food mentality. We can no longer wait for anything and want it faster. No time to cook, so you do fast food. Why go to a traditional store, when you can buy the perfect item online. What about your bill payments? How does “Next Business day, Bill pay,” sound to you? Here’s a review of Telpay’s Payables Funding Options.
Payables funding options are really important because this is how Telpay receives money from your business to process your payables payments. There are two available funding options. You can choose to send money to Telpay via online banking which has a one-day lead time or request Telpay to automatically withdraw the money from your bank account through Pre-Authorized Debit which requires a four-day lead time.
How to Make Next Business Day Bill Payments
For next business day bill payments, you need to fund your payments via online banking. This option requires one business day lead time to process your payments. Bill payment file and funds must be sent to Telpay by 3:00 PM, CST, one business day prior to your payment date.
How it works:
1. Sign in to your online banking.
2. Set up Telpay as a biller by searching for ‘Telpay Payables Trust Account’ on your bank’s online biller database. (“Telpay usually appears before “Telus”)
3. Add your account number which is your 7 digit Telpay access number.
4. Make an online bill payment to Telpay for the total amount of your payment
Start taking advantage of Next Business Day, Bill Pay. For more on Payables Funding Option 1, check out our support links at How Do I Fund My Payables or contact your Business Development Consultant at 1-800-665-0302.