For each set of payments we process to your freelancers, we receive your funding in a dedicated Payment Processing Funding Account (PPFA).
To suit your Finance/AP preferences, Worksuite offers multiple options to transfer pay run funding to your PPFA.
|Reverse Wire / ACH Debit
When the pay run starts, Worksuite initiates a transfer from your bank account via wire or ACH.
This is the recommended option for ease and speed.
Requires a one-time setup/authorization process: coordination with your bank and testing the connection between accounts
Your bank may assess a fee, especially for reverse wire
ACH will incur a 1-day processing delay
|Pay Run Funding Advance (PRFA)*
When the pay run starts, Worksuite advances the funding and invoices you for each pay run along with your payment processing fees.
Worksuite advances funding solely in USD, which may increase FX fee liability
This option carries a fee for Worksuite assuming the risk associated with advancing the funds
4% on 30 day terms
6% on 60 day terms
8% on 90 day terms
|Push funding in lump sums
Reducing the frequency of funding transfers reduces manual effort and wire fees
Payments begin sending at the earliest opportunity, drawing down on the available balance
|Push transfer of pay run amount upon receipt of each funding notification
**Please note that Worksuite does not invoice for pay run funding as it is not our revenue
There is a T+2 deadline to receive your funding, i.e., two business days from the pay run start
Payments await funding before release, i.e., they will be delayed if funding is not sent in a timely manner
*PRFA r requires funding currency to be USD, however, vendors may choose a non-USD currency when adding bank information. Payments will be exchanged to their preferred receiving currency and processed. Please note standard FX banking rates may apply.
For questions regarding these methods or to change your funding method to better align with your processes, please reach out to your account manager and/or Worksuite's Payment Operations team via our group email alias or our shared Slack channel for assistance.