Sign Up for FastACH Program

What is FastACH? The FastACH feature allows you to expedite your ACH payments as same-day/next-day ACH on demand with an additional cost of $5 per expedited ACH transaction.

How do I sign up? If you have the “Manage Bank Account” user permission in your user role, you can see the option to sign up for the same-day/next-day FastACH program in the VendorPay dashboard. 

Alternatively, you can initiate the application process by navigating to the ‘FastACH’ section of the ‘Settings’ menu.

To enroll in the FastACH program, you must provide the following details:

• Expected monthly ACH transaction volume

• Expected average ACH transaction value

• Expected maximum ACH transaction value

• Profit and loss statements from the last two years

• Latest fiscal year-end balance sheet

• If financial statements are unavailable, bank statements from the last three months.

Once your documents are submitted, our Risk and Fraud team will thoroughly review your application and the accompanying details. Upon approval, our team will also configure your FastACH transaction limit.

Once enrolled, you may choose to expedite ACH payments on an ad-hoc or ongoing basis. 

To expedite payments ad-hoc, click the “ACH Preference” button on the check run details modal for any check run in the “Pending Approval” status. 

From here, you may select the ACH Delivery speed preferred.

To set FastACH as the delivery preference for all payments to this vendor, you may click the checkbox next to “Save preference for……”.

You may also set the FastACH delivery preference for a particular vendor by navigating to the vendor in the Vendor Center, scrolling down to Payment Settings, and selecting the FastACH option in the ACH Delivery Preference section.