Is AvidPay required?
- No, use of AvidPay is fully voluntary for all vendors.
Who is AvidXchange?
- AvidXchange, through its AvidPay program, is the leading Business-to-Business disbursement provider with over 5,500 customers specializing in real-estate and HOA transactions.
- AvidXchange has been in business for over 15 years and has over 400,000 vendors in their network.
Why is Associa partnering with AvidXchange?
- Associa Hawaii has partnered with AvidXchange in order to offer faster payment options as a result of feedback provided by our vendors.
- Associa Hawaii's partnership with AvidXchange also offers improved check security & controls for associations, and reduction in manual processing thereby reducing risk of human error.
What is ePay?
- ePay is a program that offers a Virtual Credit Card or Direct Deposit (AvidPay Direct) option through AvidXchange
- Virtual Credit Card option: works just like a normal credit card with improved security.
- Once the vendor has selected ePay as their preferred method of payment, they will be contacted by a representative from AvidXchange to verify credit card as their preferred method of receiving payment information. The representative will provide the vendor with a credit card number for that transaction and once they accept the funds, the money will post to their account as soon as 24 hours.
- Works just like a phone call credit card transaction with the added security feature that the card number can only be used once by the vendor for that specified invoice amount. Once the payment is in the vendor’s merchant account, it will be moved to their bank account just like any other credit card transaction.
- There are multiple ways for vendors to accept virtual credit card payments through the AvidXchange ePay platform (email, phone, fax, etc.). They can select from a variety of methods when completing the MasterCard Quick Enrollment form or a representative from AvidXchange can help the vendor determine the best method of payment during the enrollment process.
- Should vendors choose to receive credit card payments via ePay, they will have the option to set invoice amount limits. For example, vendors could work with AvidXchange to set any payment less than $500 to be paid via virtual credit card, but any payment $500 or greater to be paid via check.
- Direct Deposit option (AvidPay Direct): works just like traditional direct deposit with improved security.
- If the vendor has selected ePay as their preferred method of payment, they will be contacted by a representative from AvidXchange to verify direct deposit as their preferred method of receiving payment information. The representative will ask the vendor to provide their bank account information via a secure link using DocuSign (not over the phone or unsecured email). Payment will post to the vendor’s account immediately upon deposit.
Why should I move to ePay?
- Most Rapid Payment Solution to Convert A/R to Cash
- Quicker Access to Your Funds
- Eliminate Lost and Late Checks in the Mail
- Detailed Remittance Information (Invoices #, description, etc.)
- Reduce Your Carbon Footprint
Will I get paid faster?
- Yes - If you choose to receive ePayments, you will receive payment within 48 hours from the time the invoice has been approved.
What are the costs associated with using ePay?
- There are no fees from AvidXchange.
- The only cost associated with receiving payments via ePay is based on the negotiated rate for your merchant account.
Are there other electronic payment options available?
- Should you choose to receive your payments via ePay, you will have the option to set invoice amount limits. For example, you could work with AvidXchange to set any payment less than $500 to be paid via ePay but any payment $500 or greater to be paid via check.
- Regarding electronic payment options, the only option available today is ePay’s Virtual Credit Card. If you do not wish to receive faster payments with this method, you can continue to be paid via check – unfortunately, check payments do not receive the benefits of ePay as listed above.
How do I sign up for ePay?
If you are already paid by AvidXchange with other companies you work with:
- No further action is required! You will automatically be set up to receive payments using your preferred payment method.
If you have a MasterCard capable merchant account but you are not signed up with AvidXchange, there are three ways to sign up for ePay:
- You can reach out to AvidXchange by email at Supplier@avidxchange.com.
- You can return the MasterCard Enrollment Form identifying your payment information and opting into ePay. You will receive this Form in the mail with a Welcome Letter from AvidXchange.
- An AvidXchange specialist will reach out to you on or around your next payment to help sign up for ePay.
The faster ePay payment method is only available through a MasterCard payment. If you do not have a merchant account, you have the opportunity to choose from many merchant service providers – both online and local organizations – in order to start processing ePayments.
What if I don’t have a merchant account?
- If you choose to set up a merchant account, there are many merchant service providers to choose from – both local companies as well as online organizations.
- If you are interested in receiving your payments faster via ePay, note that ePay is only available with a merchant account that accepts MasterCard payments.
Will my checks look different?
- Yes, checks will have a new numbering system as they are cut from AvidXchange. The Strongroom check number will appear on the top left corner of the check as well as in the remittance information section.
Why is AvidXchange requesting a W9 from me?
- Your W9 is a secure way to safely identify you – this allows another level of fraud protection for you as well as the Associations you work for.
If I call AvidXchange, how can I be sure that the person on the phone is actually from AvidXchange?
- You will receive a Letter of Authorization from AvidXchange and signed by Associa Hawaii verifying our relationship with them.
- The AvidXchange specialists will also be able to specifically discuss detailed information regarding invoice numbers and dates.
Who do I call if I have problems with my payment (status, timing, amount, invoice reconciliation, etc)?
- Contact your local Community Association Manager for any specific questions regarding your payments.