At BILL, we are dedicated to strengthening our payment infrastructure and continually working to increase payment speed. As part of this, we are introducing some changes to our payment processing practices in the coming months. You'll find more details in our frequently asked questions below.
What's Changing?
Beginning this October, we're increasing the frequency of our payment processing. This means that funds will be withdrawn from client accounts more often, and in time, disbursements will become more frequent as well. Our Automated Clearing House (ACH) will process payments hourly, and soon, international and virtual card payments will also be processed at a faster rate.
How Does This Impact You?
You might notice multiple debits from your bank account throughout the day, based on when payments are scheduled, rather than a single debit at the end of the day. Please be aware that the cancellation windows will be shorter.
What About Cancellation Timelines?
If you're activated for the new payment processing rules, ACH transactions must be canceled at the start of the hour of their request. You can find the cancellation time by hovering over the "cancel link"
Will Payments Speed Up Immediately?
Payment speed will not change immediately, but these updates lay the groundwork for faster payments in the future.
When Will These Changes Occur?
We'll be rolling out these updates over the next few months, starting in October. For a while, you may have some clients on the old processing timeline and some on the new one.
For more information on general payment timing, please check our help article on the website.
