Please let us know ASAP if you intend to stop payment, as we may have the opportunity to stop the payment from processing. Because of our valued relationship, payments are processed as swiftly as possible.
If there is a positive pay issue, or you stop payment on funds that have already been delivered to your vendor, we will need to retrieve these funds from you. The Viewpost team will reach out with terms of re-payment and timeline to resolve.
Voiding or Stopping a Payment
- Voiding a payment in your accounting package does not void them on Viewpost, or stop the flow of funds. Voiding a payment for accounting purposes is always available.
- Stopping a payment at the bank level will attempt to stop the funds delivery, which if in flight or already delivered to the vendor could cause issues.
As for the bank delivery timelines, process, this is the way it works:
- You create the payment
- Viewpost initiates the payment.
- Depending on where the vendor banks the payment can take a couple of pathways to arrive, usually called Image Cash Letter or ACH.
1) Stop payment, money never comes out of your account
2) ICL $ comes out of your account but doesn't go to the vendor
3) Vendor has the money
- Vendor can refund card
- Vendor can give you a credit