Electronic Payables – Wells Fargo Commercial (2024)

Streamline your A/P process, potentially reduce errors and fraud risk, help decrease payment-processing time and cost, and improve cash forecasting when you convert from paper to electronic payables. We offer single-source access to all your payables information through Wells Fargo Vantage℠, consolidated payment file processing with our Payment Manager^® service, and ACH transactions and wire transfers.

ACH

Wells Fargo has one of the most advanced Automated Clearing House (ACH) systems and is the largest originator in the country, processing more than 7.9 billion ACH transactions annually. Our flexible ACH Payments Service through Vantage gives you desktop access to initiate and verify transactions from an internet connection. Use Transaction Search Service to search for up to 13 months of originated activity, and delete or reverse erroneous transactions. With one sign-on you can search for information, update transactions, and view customized reports.

The benefits of converting your paper-based transactions to Wells Fargo ACH include:

• Cuts your delivery costs by eliminating postage and paper draft expenses.
• Eliminates the costs and inefficiencies of paper check processing, including the costs of stop payments, inconvenience of lost checks, and need for replacement checks.
• Keeps you and your customers better informed by providing transaction descriptions and audit trails not available through paper transactions.
• Reduces the direct and indirect costs to you and your customers of late payments. ACH also helps eliminate late fees for payments you make.
• Improves cash flow on payments you receive and allows you to accurately plan your financial schedules.
• Reduces the risk of fraud for transactions.

Wires

Initiate wires electronically through Vantage, the CEO Mobile^® service, or non-electronic channels. You can quickly process same-day and future-dated domestic and cross-border wire payments in U.S. or local currencies, and take advantage of real-time exchange rates.