Not all banks are eligible for electronic payments via Viewpost, and paper check will be the only option.
For accounts that are eligible for electronic payments, there is a $10,000 threshold for payments to certain banks.
Both parties can be bank registered to receive electronic payments, but any payment over $10,000.00 to non-partner banks will be sent via paper check.
There is messaging on the website prior to making a payment that indicated this payment would go via paper check.
Payment Thresholds are in place for protection.
Companies with higher limits require:
- A minimum # of payments per month
- Separate specified contracting
- Credit check
- Financials supplied for the last year
As we are not a bank, we only get a limited visibility into your full transactional framework, and risk profile.